Will my at-fault accident impact the premiums for other cars on our family policy?
I recently had a rear-end collision and have reported the claim and provided my statement. I’m currently waiting to hear back from my adjuster. My mother is the “named insured” on our policy, with my brother and I listed as additional drivers. There are four vehicles 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? Would it help if I were to remove myself as a driver and take my car off the policy? Any advice would be appreciated. Thanks!
It’s understandable to be concerned about how an at-fault accident might impact your family’s insurance premiums. Generally, if you’re listed as a driver on the policy, your accident could indeed lead to higher premiums for the whole policy, especially upon renewal.
Here are a few suggestions that might help minimize the impact:
Remove Yourself as a Driver: Since your mother is the named insured, you could ask to be removed as a driver on the policy. Keep in mind that if you frequently drive any of the vehicles, it’s important to disclose that to your insurance provider, as not doing so could create issues in the event of another claim.
Remove Your Vehicle: If feasible, you could also consider removing your vehicle from the policy, particularly if it’s not being driven frequently. This could help reduce costs, but again, make sure to discuss this with your insurer to understand any implications.
Shop Around: Before your policy renewals, you might consider getting quotes from other insurers. Sometimes switching providers can give you a better rate despite the accident.
Look for Discounts: Inquire about any potential discounts your family might be eligible for. Sometimes insurers may offer safe driver discounts or multi-car discounts which could help offset some of the increased premium.
Increase Deductibles: If you can afford it, increasing your deductibles on the policy can sometimes lead to lower premiums in the long run.
Discuss with Your Adjuster: When you speak with your adjuster, explain your concerns about the upcoming renewal and ask if there’s anything specific you should be aware of with regard to premium increases.
Ultimately, it’s best to have an open dialogue with your insurance provider to fully understand the effects of the accident and your options for minimizing the impact on your family’s policy. Good luck, and I hope everything gets resolved smoothly!