Will my at-fault accident influence the premiums of the other vehicles on our family policy?
I recently had a rear-end collision and have reported the claim and provided my statement; now I’m just waiting for my adjuster. My mother is the primary insured on our policy, and both my brother and I are listed as drivers. We have a total of four cars covered under the policy, which is set to renew in about six weeks. What can I do to minimize the impact of my accident on my mother’s policy? Should I consider taking myself off the policy and removing my vehicle? Any advice would be appreciated. Thanks!
When you have an at-fault accident, it can potentially impact the premiums for the entire policy, including all drivers and vehicles listed. Since your mother is the named insured, the claim could indeed lead to increased premiums when the policy is renewed, regardless of whether it was you or another driver who had the accident.
Here are a few suggestions to minimize the impact:
Remove Yourself Temporarily: Dropping yourself as a driver and removing your vehicle from the policy could be a good option, especially if you have another vehicle that can be insured elsewhere. This could help shield your mother’s policy from the premium increase related to your accident.
Consider a Higher Deductible: If you retain your coverage on the family policy, one way to potentially keep premiums lower is by opting for a higher deductible. This may not completely negate the impact, but it could help balance costs.
Talk to Your Insurance Agent: Discuss your situation with your insurance agent. They can provide guidance on how your accident may affect the upcoming renewal and suggest the best course of action.
Defensive Driving Course: If you are still listed on the policy, completing a defensive driving course may qualify you for a discount that could help offset some of the effects of the accident.
Shop Around: If your mother’s policy sees a significant increase, it may be worth shopping around for new insurance providers. Sometimes, different companies have varying policies on how they treat at-fault accidents.
Lastly, remember that every situation is unique, so getting personalized advice from your insurance provider is always recommended. Good luck!