Car accidents can be stressful, and one of the most common concerns Ohio drivers have after a crash is how it will impact their car insurance rates. Insurance premiums are determined by a variety of factors, including driving history, policy details, and the severity of an accident. In this guide, we’ll break down what Ohio drivers need to know about how a car accident can affect their auto insurance rates.
Will My Auto Insurance Rates Increase After an Accident?
It depends on the circumstances of the accident. If you are found at fault, your insurer may adjust your premium based on the severity of the damage and the cost of the claim. Even if you are not at fault, your rates could still be affected, especially if you file a claim through your own policy.
Insurance providers assess risk when determining rates, and a recent accident could indicate a higher likelihood of future claims. However, many Ohio insurers offer accident forgiveness programs, which may prevent your first accident from increasing your premium, depending on eligibility.
How Long Will an Accident Affect My Auto Insurance in Ohio?
Typically, accidents remain on your insurance record for three to five years. However, the exact duration varies based on the insurance company’s policies. During this period, insurers may consider the accident when determining renewal rates, but its impact may decrease over time, especially if you maintain a clean driving record afterward.
Does the Severity of the Accident Change My Rate Increase?
Yes, the severity of an accident can influence how much your premium changes. Minor accidents with small claims may result in a smaller increase, while major accidents involving significant damages, injuries, or multiple vehicles could lead to higher adjustments.
Additionally, factors such as whether emergency services were involved or if medical payments were made under your policy can impact how the insurer evaluates the claim.
Will My Insurance Go Up If the Accident Wasn’t My Fault?
In Ohio, insurance companies consider different factors when determining whether an accident affects your rates. If another driver was at fault, their insurance should cover damages, but your insurer may still adjust your rates depending on the situation. Some companies offer discounts or protections to prevent increases from non-fault claims, but policies vary.
It’s important to report accidents accurately and provide any supporting documentation, such as police reports, to ensure proper claims processing.
What If I Have Accident Forgiveness on My Ohio Auto Insurance Policy?
Accident forgiveness is a feature some insurance providers offer, which may prevent your first accident from causing a rate increase. This benefit is usually only available to policyholders with a clean driving history and may require an additional cost.
However, accident forgiveness doesn’t erase the accident from your driving record. While it may prevent an immediate rate hike, future accidents could have a greater impact.
How Can I Lower My Auto Insurance Rates After an Accident?
If your rates increase after an accident, there are several strategies to help lower them over time:
- Safe Driving Discounts: Many Ohio insurers offer discounts for maintaining a clean driving record for a certain period.
- Defensive Driving Courses: Some providers offer discounts if you complete an approved driving safety course.
- Bundling Policies: Combining your auto insurance with homeowners insurance or renters insurance may provide savings.
- Increasing Deductibles: Choosing a higher deductible can lower your monthly premium, though it means paying more out of pocket if you file a claim.
- Shopping for New Quotes: It’s always a good idea to compare insurance quotes from different providers to find the best rates.
What Steps Should I Take After a Car Accident in Ohio?
If you’re involved in an accident, taking the right steps can help protect both your safety and your insurance claim:
- Check for Injuries: Call 911 if anyone is injured.
- Move to Safety: If possible, move vehicles out of traffic to prevent further damage.
- Exchange Information: Collect the other driver’s insurance details, contact information, and license plate number.
- Document the Scene: Take photos and notes about the accident location, damage, and any road conditions.
- Contact Your Insurance Provider: Notify your insurer to begin the claims process.
- Follow Up on Repairs and Claims: Work with your insurance adjuster to handle vehicle repairs and claim processing.
Should I File a Claim or Pay Out of Pocket?
Deciding whether to file a claim depends on the extent of the damage and your insurance coverage. If damages are minor and below your deductible, it may be more cost-effective to pay out of pocket to avoid potential premium increases. However, for significant damages or injuries, filing a claim is usually necessary.
It’s best to consult with your insurance provider to weigh your options before making a decision.
Conclusion
A car accident can impact your auto insurance rates in Ohio, but the extent of the change depends on various factors, including fault, severity, and your policy details. While rate increases are possible, there are ways to manage your premiums and minimize the financial impact over time.
At Kirtley Insurance, we help Ohio drivers find the right coverage to fit their needs. If you have questions about your auto insurance policy or want to explore options for accident forgiveness and discounts, contact us today for a personalized review of your coverage.
