
It can be a traumatic experience to be involved in a car accident.
On top of that, there is this sinking feeling that you will have to pay a steep insurance premium the next time you are renewing your car insurance.
However, according to insurance experts, your premium doesn’t need to have to rise.
So, what can you do to not face a hike in your insurance premium?
Keep the Insurance Company Informed
It is important to keep the insurance company in the loop even if the accident was minor and caused no injury or loss to others so that they are better prepared to face potential lawsuits.
Even if the insurance company entertains a delayed claim, the delay may negatively affect your chances of winning the lawsuit.
If the insurance company does need to pay out due to your fault, an increase in the premium is justified.
Invoke the Forgiveness Clause
According to https://www.forbes.com, drivers averagely get involved in an accident once in 17.9 years.
Since insurance companies will have already factored this into their premium calculations, they may be willing to ignore your first transgression.
However, this policy differs from company to company, and companies may attach riders that need you to stay accident-free for a specific number of years to qualify.
Scout Around for Better Rates
If your premium has been hiked substantially, a good method of reducing the impact is to shop for better rates with the competition.
A hassle-free method to find cheap insurance for cars is to use one the insurance premium comparison tools available online.
But be sure to give all the details of your current insurance policy and your profile correctly and eliminate the covers you do not want.
Attend a Driving Class
It may have been years since you took your driving test and acquired your driving license. Since then both the road conditions, some of the rules, as well as the volume of traffic may have changed significantly.
These may prevent you from driving at your best, especially if you are not a frequent driver.
Attending a driving class will not only help you to refresh your driving skills but also send out a strong signal to the insurance company that you are conscious of ensuring road safety that may reduce their tendency to increase your premium.
Increase Your Deductible

To fight a premium hike, consider increasing the deductible, which is the amount you pay when you file a claim while the insurance company pays the balance.
A $1000 deductible can potentially save you 40% or even more but leaving you with a dent in your finances in case you have an accident, which is a good incentive for driving more safely and to build up your savings.
Conclusion
The best way of reducing the impact of an accident on your insurance premium is to be upfront with your insurance company regarding the details of the accident.
You should also ask for forgiveness if this was your first accident in many years, consider attending a driving class without being asked to by the insurer, increase your deductible, and shopping around for the best rates.