Can I Change My Car Insurance Coverage After an Accident?
I’ll never forget the day my car was totaled. I was driving home from work when a reckless driver ran a red light and t-boned me. Luckily, I wasn’t seriously injured, but my car was beyond repair. In the aftermath of the accident, I had a lot of questions, including whether or not I could change my car insurance coverage.
As it turns out, the answer is yes, you can change your car insurance coverage after an accident. However, there are a few things you should keep in mind.
What to Consider Before Changing Your Car Insurance Coverage After an Accident
Before you make any changes to your car insurance policy, it’s important to consider the following factors:
- Your deductible: The deductible is the amount of money you have to pay out of pocket before your insurance coverage kicks in. If you raise your deductible, you’ll lower your monthly premiums. However, you’ll also have to pay more out of pocket if you need to file a claim.
- Your coverage limits: Your coverage limits determine the maximum amount your insurance company will pay for damages. If you increase your coverage limits, you’ll pay higher premiums. However, you’ll also have more financial protection if you’re involved in an accident.
- Your driving history: If you have a history of accidents or traffic violations, your insurance premiums will be higher. However, you may be able to lower your rates by taking a defensive driving course or by installing a telematics device in your car.
How to Change Your Car Insurance Coverage After an Accident
If you decide to change your car insurance coverage after an accident, you can do so by contacting your insurance company. You can usually make changes to your policy over the phone, online, or by mail. When you contact your insurance company, be sure to have your policy number and your driver’s license number ready.
Once you’ve contacted your insurance company, you’ll need to provide them with the following information:
- The date of the accident
- The location of the accident
- The names and contact information of the other drivers involved in the accident
- The make, model, and year of your car
- The extent of the damage to your car
Your insurance company will then review your information and make a decision about whether or not to change your coverage. If you’re approved for a change, your new coverage will go into effect immediately.
Tips for Saving Money on Car Insurance After an Accident
If you’re looking to save money on car insurance after an accident, there are a few things you can do:
- Shop around for quotes: Don’t just stick with your current insurance company. Get quotes from several different companies to see who can offer you the best rates.
- Raise your deductible: As mentioned above, raising your deductible will lower your monthly premiums. However, you’ll also have to pay more out of pocket if you need to file a claim.
- Take a defensive driving course: Taking a defensive driving course can help you improve your driving skills and reduce your risk of being involved in an accident. This can lead to lower insurance premiums.
- Install a telematics device in your car: Telematics devices track your driving habits and can help you identify areas where you can improve. This can also lead to lower insurance premiums.
FAQs About Changing Your Car Insurance Coverage After an Accident
Q: Can I change my car insurance policy after I’ve filed a claim?
A: Yes, you can change your car insurance policy after you’ve filed a claim. However, your insurance company may require you to pay a reinstatement fee.
Q: What happens if I don’t change my car insurance coverage after an accident?
A: If you don’t change your car insurance coverage after an accident, you may end up paying higher premiums in the future. This is because your insurance company will consider you to be a higher risk driver.
Q: How can I get a copy of my car insurance policy?
A: You can request a copy of your car insurance policy from your insurance company. You can usually do this online, over the phone, or by mail.
Conclusion
If you’re involved in an accident, it’s important to know that you can change your car insurance coverage. However, it’s also important to consider the factors listed above before making any changes. By following the tips in this article, you can save money on car insurance after an accident.
Are you interested in learning more about car insurance? If so, I encourage you to read the following articles:
