Got into a minor fender bender recently, and I’m already bracing for my rates to go up. I’ve heard it can jump a lot, but IDK… anyone know how bad it actually gets? Any tips for keeping it low?
Mine went up about 30% after an accident last year. Definitely hurts the wallet… I tried shopping around though, and that helped a bit.
Tatum said:
Mine went up about 30% after an accident last year. Definitely hurts the wallet… I tried shopping around though, and that helped a bit.
30% is rough… did you end up switching insurers?
@Fern
Yeah, I went with State Farm after looking around. They were a little better, but still not cheap
I’ve got accident forgiveness on my policy, and it saved me big time. It costs extra, but it was worth it when I needed it.
Noor said:
I’ve got accident forgiveness on my policy, and it saved me big time. It costs extra, but it was worth it when I needed it.
I’ve been debating getting that. Guess it’s time to add it just in case.
Not all insurers bump you up too bad for a small accident. I’ve seen some folks say they got only a small increase. Depends on your company, I guess.
Peyton said:
Not all insurers bump you up too bad for a small accident. I’ve seen some folks say they got only a small increase. Depends on your company, I guess.
True that. Geico didn’t raise mine as much as I thought, so I stuck with them.
One tip: keep your credit in good shape if it matters in your state. It can help offset some of the increase.
Wei said:
One tip: keep your credit in good shape if it matters in your state. It can help offset some of the increase.
Good point. I always forget credit can play a role in insurance rates.
If you can, try raising your deductible a bit. It can lower your premium enough to soften the blow after an accident.
Tyler said:
If you can, try raising your deductible a bit. It can lower your premium enough to soften the blow after an accident.
Oh, didn’t think of that. Might give it a shot if my rates jump too much.