Maintaining Cheap Car Insurance Post Accident

Getting affordable car insurance is already hard enough but what if you get in an accident? Experts say that once you file a claim to your insurer, your rates will immediately be affected especially if you are the one at fault. While some are thankful because all they got is an increase in their premium after a traffic mishap, others had to scour high and low looking for companies that will cover them after an accident. Due to multiple claims filed on a policy, your insurer can cancel your policy altogether –a rather scary scenario for those who do not have anything except money from their insurer to pay for damages or replacements and the like.

Cheap car insurance is very difficult to get under normal circumstances, but especially now that insurers have raised the bar when it comes to defining what a good driver is, and the fact that creditors have raised the bar when it comes to credit ratings as well. While there are many factors that are taken into consideration when computing for your premium, it is so difficult for one to get a perfect score in one variable alone. Basically, cheap car insurance under normal circumstance is hard to come by. So what happens when you meet an accident? Will you be able to get auto insurance afterwards?

Getting yourself coverage after an accident is not impossible, but this can prove to be more difficult if your record shows a series of accidents. The most important things in this scenario is your risk factors. If the risks are not that high, then you may get a regular car insurance policy from a traditional insurer. However, you should note that you will probably get a very expensive quote from these insurance providers. Unless you are willing to shell out a lot of money every month or quarterly or annually to pay for your new auto insurance policy, it is better for you to look for companies that provide auto insurance to people who are classified as high risk drivers.

High risk auto insurance has become a mainstream product especially because of the many restrictions traditional insurers have. More and more people are now getting insurance from companies that specialize in providing high risk car insurance. If you do not fit in the high risk category, you can still get cheap car insurance from a traditional insurer. To do this, you would have to increase your deductibles but be sure that you would be able to afford this deductible when needed.

Another option is to look for assigned risk insurance. This special kind of policy is for people who do not have any other way to go especially if you cannot get insurance from a high risk insurer. An assigned risk insurance is one that is funded by a number of insurance companies. You should ask your agent about this if you think you cannot qualify under a high risk policy. This is the best possible way for you to get a good price for your premium.

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