Collision. Crash. Accident. Fender Bender. Whatever you call it, here's what to do if you've ever been in a collision.
Whether it was last week or last year, if you've been involved in an auto accident you probably remember it like it was yesterday. Collisions are scary and are hard to forget. Unfortunately, collisions on the road happen a lot. In Canada, there are about 120,000 police-reported collisions each year.
How long will a collision affect your auto insurance rate?
Chances are you're not the only one that remembers that collision you were in. Your auto insurer does too. If you were found in any way responsible for causing the collision, your auto insurance premiums likely reflect this reality. And an insurer's memory is long. It takes about six years for a collision to no longer factor into the premium you pay.
What can you do in the meantime to keep your premiums as low as possible? There are two words to the answer your seeking: shop around.
Even if you've been with your current insurer for years (and perhaps, especially if you've been with them for years), you should put your rates to the test as some insurers are more forgiving than others. Be confident you're getting the best auto insurance rate in the market and compare quotes for a better deal.
It's your money after all and it's better in your pocket than anywhere else.
Don't let history repeat itself.
Your driving record and insurance history factor heavily into the auto insurance rate you pay, but the good news is a collision won't follow you forever. The key is to keep your driving record and insurance history clean, and if you're really keen, you may want to:
- Brush up on your reading. Your province's driver's handbook isn't just for new drivers trying to pass their test. It's a great resource for experienced drivers as a quick refresher too. A quick read is all it takes to tighten up your driving know-how.
- Consider a driving course (really!) If you've never taken a driver's training course, or it has been decades since you last did, there are refresher courses for experienced drivers to hone their skills.
Both options will help correct risky habits that may have developed over the years, highlight traffic laws that may have changed, and provide practice (or insight) for difficult driving challenges that we don't encounter every day.
Steer clear of high auto insurance rates and make sure safe driving is always the destination.
