How An Accident Affects Your Auto Insurance Rates
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by: barbarawhite1956
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Auto Insurance Rates Are No Accident An accident can cause a great increase in your auto insurance costs. It depends on the actual information contained in the driver abstract report, as well as other factors including the area of residence, vehicle types, and the insurance package that is desired. Chances are that if you're involved in a minor fender-bender your rates will stay the same. This rule of thumb only applies for the first offense. It is often the same with "points" being assigned to a driver's license. A total of more than a certain number of points within a given period will often result in a rate hike, and many insurers do not make this entirely clear when offering a quote. One of the most important statistics looked at by insurance companies is the amount of time a driver has been insured, and if there have been any lapses in coverage. History has shown that drivers who have been insured constantly, even if only in terms of liability, are less likely to be involved in accidents or be cited for moving violations. And most major insurers are less than sympathetic with drivers who have one or more instances of being cited for failure to carry required insurance. Sometimes a driver, after having been determined to be at fault in an accident, will soon afterward shop and compare, to see if he or she can receive a better quote, especially if the current insurer has indeed raised either the premium or the deductible amount. Here the online comparison sites may be of help. Drivers will of course have to be honest and enter truthful information, because companies that are contacted will have access to the abstract report. It is very important to give honest responses, especially regarding at fault situations and moving violations, if asked to do so. If details of negative driving history are not part of the information being gathered, do not expect the quote given to be accurate; actual contact with an agent of a particular company will probably result in a higher premium amount than what was originally given. One thing a driver can do to find a better rate, especially after having been determined to be at fault in a major accident, is to consider whether all of the components of his or her current policy are truly necessary. For example, a policy may include liability, comprehensive and collision coverage, uninsured motorist coverage, and personal injury protection. Here again, scouring the marketplace by using an online comparison site is a good option, because the driver can input information for a new, restructured package that may not include all of the components listed above. Every insurer has their own method of determining a high risk applicant, and each may view a custom package in a distinct way. Therefore taking the time to shop and compare is well worth it. Kanetix LTD. provides Canadian drivers with a free service for comparing auto insurance quotes. They are located at 20 Camden Street, Toronto and reachable by telephone at (888) 854-2503.
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Pay close attention to your carinsurance, rates and comparison shop for better rates when you have time.
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