Auto Insurance
Auto Accidents

Can you save on your future premiums if you switch to a different insurer after an accident?


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Wiki User
2015-07-15 21:45:47
2015-07-15 21:45:47

No! your accident record follows you for the rest of your life like a credit report. : Once you have had an accident even if you change your insurers, your premium will be surcharged. If you have a forgiveness clause in your policy and this is the first accident you will not be charged higher. That being said it is still possible to save on auto insurances and one should be constantly on the look out for savings, since there are number of ways the premium can be saved : 1) Having higher deductible as indicated. 2) Having safety features installed - like airbags, alarm system if not already installed. 3) Decreasing the mileage - use by car pooling. 4) Online discounts 5) Placing all policies with one insurer - home and auto or all auto polices with one insurer. The insurance rates are also dependent on the claims experience of the insurance companies so shopping around is certainly a good idea.


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Most companies don't raise rates based on a no fault accident when you are insured with them. So, if you are getting good driving discounts, they will probably remain. However, if you want to switch, the no fault accident might prevent you from getting the next company's best rates.

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Unfortunately, IF and that is IF your personal policy insurer finds out, if they do a yearly check, their may be a surcharge applied. Please remember that if ever confronted with that question from your insurer, always be truthful or they could cut you. I am a Broker

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Yes, some insurers have rules that even if there was an accident with no payout or no claim made, your premiums will be affected. So once you report the incident to your insurer, they will consider it a claim against your future premiums. However, there are some companies out there that will not hold the incident against you, so would recommend you shop around for the best rate based on your situation.

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They can be sued by the other driver for damamges (if at fault). If not at fault, they may have a very difficult time getting insurance in the future and when they do, the premiums will be through the roof.

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To determine how to avoid a similar accident in the future

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