An accident stays on your Erie insurance record for 5 years. Specifically, Erie will keep track of an accident for 5 years, though it could stay on your actual state driving record for longer depending on the details of the incident. For example, if you caused an accident while under the influence, it may stay on your record indefinitely even if it only affects your rates for a few years.
Key Things to Know About Accidents and Your Erie Insurance Record
Erie keeps track of your accident for 5 years, but it may not affect you for that long.
Erie may keep track of your accident for 5 years, but it may not be used to determine your premiums the entire time. An accident may also make you ineligible for certain discounts for a number of years, like Erie good driver discount.
How long an accident stays on your driving record is determined by your state. Accidents typically stay on state driving records for 3 to 5 years, but more serious incidents may stay on your record for longer, even if they won’t affect your insurance rates.
Since your driving record is ultimately controlled by the state, an accident can still affect your rates even if you switch to another company – for three to five years from when the accident occurred.
Your Erie premium can go up by an average of 41% after an at-fault accident, and you may see a rate increase after a not-at-fault accident, too. However, some customers may qualify for Erie accident forgiveness.
Your Erie rate could have gone up for many reasons, such as a recent claim or a new driver being added to the policy. Other factors that could cause Erie to raise your rate include getting into an accident, being convicted of a moving violation, and adding coverage to your policy. Erie may also raise your premiums for reasons that are beyond your control, such as recent natural disasters, increasing repair and healthcare costs, and crime trends.… read full answer
Top Reasons Why Erie Raises Rates
New driver or car added to a policy
Recent switch to an expensive car
Relocation to a high-risk zip code
Decline in creditworthiness
How to Lower Your Erie Insurance
If you’re struggling to afford your Erie premium, there are a few steps that you can take to lower your rate. You can start by looking for Erie discounts that you can qualify for, such as the anti-theft devices or anti-lock brakes discount. You can also make changes to your policy, including raising your deductible and reducing your coverage.
Another option is to switch insurance companies. Each insurer calculates rates differently, so you may be able to get the same amount of coverage elsewhere at a lower price. As a general rule, you should get quotes from at least three different companies every 6-12 months to make sure that you’re still getting the best deal.
The cost of car insurance goes up by an average of 48% after your first at-fault accident, or around $348 per year. The exact amount that your insurance premium will increase after your first accident depends on your insurance company, what state you’re in, the extent of the damage, and the circumstances.… read full answer
Not-at-fault accidents will raise your rates by an average of 12%, since filing a claim still costs the insurance company money. However, California and Oklahoma forbid insurance companies from raising rates after a not-at-fault accident.
Average Premium Increase After an Accident by Company
Things are a bit different for drivers with accident forgiveness, as they are protected from a premium increase after a single at-fault car accident within a certain time period. Depending on the insurer, drivers can purchase accident forgiveness or earn it as a reward for safe driving and company loyalty.
What To Do If Your Rate Increases After an Accident
Insurance companies will only raise your premiums when you renew your policy. If you find that the increase is too much for your budget, consider the following:
Drivers can get cheap insurance after an accident from State Farm, Geico and USAA. While an at-fault accident will raise insurance premiums by an average of 45%, these companies offer the lowest rates for drivers after an accident. It’s also important to point out that any increase in your premium is temporary, as an at-fault accident will usually fall off of your record after … read full answerthree years.
Cheapest Car Insurance Companies After An Accident
While the average annual cost of insurance after an at-fault accident is about $2,230, State Farm, Geico and USAA all offer rates below that. Of the three, USAA’s rates are the cheapest, at roughly $1,258 per year, but their coverage is only available to military servicemembers and their families. In addition, Progressive’s and Nationwide’s rates are slightly higher than the national average, but they are still among the more affordable options on the market.
When looking for an insurance company after an at-fault accident claim, there are a few things you can do to get the most affordable coverage while you work to improve your driving record. Since insurance companies calculate premiums differently, get multiple quotes so that you have a wider range of choices. You should also consider getting a higher deductible in order to lower your premium, as well as temporarily reducing the amount of coverage that you carry.
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