How long does an accident stay on your Erie insurance record?

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

• Recent claims
• New driver or car added to a policy
• Moving violations
• At-fault accidents
• Increased coverage
• Lower deductible
• 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

Note: Rate increases reflect at-fault accidents

How Accident Forgiveness Changes the Situation

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:

• Look into discounts your insurer may offer, such as discounts for taking a defensive-driver course.

• Shop around to see if you can get a better rate with another company.

• Avoid any new accidents or moving violations, since accidents only temporarily affect your rates.

To learn more, check out WalletHub’s guide on how accidents affect car insurance premiums.

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

• State Farm
• Geico
• USAA
• Progressive
• Nationwide

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.