1. Insurance Surcharge: After an at-fault accident, your insurance company may apply a surcharge, which is an additional fee added to your premium. The surcharge can vary from 25% to 100% or more, depending on the insurance company and your driving history.
2. Points on License: Having three points on your license for a traffic violation can also increase your insurance premiums. The number of points and the type of violation can impact the surcharge amount.
3. Driver Improvement Course: Taking a driver improvement course after an accident can help reduce your insurance surcharge. However, if your license is currently suspended, you may need to complete the course and get your license reinstated before seeing any reduction in your premiums.
4. Severity of Accident: The severity of the accident can also affect your insurance rates. If the accident resulted in significant damage to vehicles, injuries, or fatalities, your insurance company may apply a higher surcharge.
5. Insurance Shopping: It's always advisable to compare insurance quotes from different companies after an accident. Some insurers may be more lenient in their underwriting guidelines and may offer lower rates despite your driving record.
It's important to contact your insurance company or an insurance agent to get an accurate estimate of how much your insurance premiums might increase after an accident and license suspension. They will consider all relevant factors and provide you with a personalized quote.
