Getting into a car accident is always a stressful situation to be in, no matter how minor the collision. In addition to reporting the accident, you will need to go through the process of establishing fault and gaining a settlement for the damages. Conflict can often arise regarding the amount owed by insurance companies because they tend to do everything in their power to minimize the amount paid.
In addition to possible difficulties in gaining car accident damages, you may also have to deal with an increase in insurance premiums going forward. The following are some things that you can do to prevent an increase in insurance premiums after a car accident in Arkansas.
Make sure that your policy has an accident forgiveness clause
Many insurers interpret a car accident as a sign that the driver in question is a risky policyholder, and, as a result, there may be insurance premium increases. However, minor accidents are very common and do not necessarily point to the driver being at an increased risk of becoming involved in a future accident. If you are concerned about premium raises after an accident, ensure that your policy has an accident forgiveness clause.
Increase your deductible
Deductibles are the maximum amount that you pledge to pay when you are involved in an accident. Pledging to cover some of the costs of an accident personally will reduce the insurance premiums that you will be subject to. Therefore, if you want to mitigate some of the damage done to your insurance premiums after an accident, you may successfully do so by increasing your deductible.
Always tell your insurance provider about an accident
If a car accident was minor, many drivers choose not to inform their insurance provider in an attempt to avoid increases in insurance rates. However, it is important to do so in order to protect yourself. If the other party decides to make a claim months or years later, you may be left to pay for damages personally.
If you have recently been involved in a car accident in Arkansas and you want to protect yourself from unnecessary fees, it is important that you understand the law. By doing so, you will be able to successfully stand up for your rights.