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3 Things To Know About Buying Car Insurance After Accidents

Friday, October 14th, 2011

A car accident can be a really traumatic experience. As if the physical and mental trauma wasn’t enough, people often have to go through a lot of paperwork regarding insurance. Dealing with insurance claims after an accident can be a challenge. Buying an insurance policy after a car insurance accident is an even bigger challenge. The cost of the policy and the procedures can be difficult to understand. Here are a few things that each consumer should remember before buying car insurance after an accident.

The Insurance Premium May Increase

After being in an accident, a person may be considered a risky customer to an insurance company. As a result, the buyer’s car insurance premium may increase twenty to forty percent after the accident. This increase may continue for at least a period of two years after the accident. If the person cannot afford such a high premium, then with a careful search, a lower premium option may be found. Buyers can weigh their options by checking the policies of various companies. With a good understanding of their options, they can choose the policy that suits them and their financial situation.

No Fault Auto Insurance

After being through an accident and seeing the trouble that one has to face with insurance, buyers may decide to opt for a no fault auto insurance policy. With many insurance policies, the insurance premium increases after an accident. It does not matter whether the accident was the person’s fault or not. With no fault auto insurance policies, however, the insurance premium does not increase as much if the person is able to prove that the accident was not his fault. After the accident, the person must provide sufficient evidence. This is a major advantage that can help save money.

Find a Favorable Insurance company

There are several thousands of insurance companies out there that can offer car insurance policies. However, there are a few companies that specialize in car insurance accident policies. The advantage with these specialty companies is that they understand accidents and offer a wider variety of car insurance plans than other insurance companies. Companies that specialize in car insurance also offer low rates that are very competitive in comparison to other companies. Consumers should feel free to compare the rates of specialty insurance companies with the other companies. When buyers make a solid comparison of various insurance companies, they can select the company that is right for them.

Buying car insurance after an accident can be a tedious task that requires a lot of effort. However, by remembering these three tips, consumers can find the best policy for their situation.

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