How Much Does Insurance Increase After An Accident?

How Long Does The Increase Last?

The great news for you if your insurance rises following an accident is it’s not forever. If you find yourself asking how long will the increase last following your accident, you’re in for some good news, as it's not forever. Most insurance agents look at accident reports for three to five years when someone applies for a new rate, meaning any accidents you've been in will most likely affect your rates for a period of three to five years.

However, this is not a guarantee. Some companies might only look back two years, which allows you to shop around for a new policy with more affordable rates a lot faster following an accident, and other agents look back further. You might be able to shop around and find a lower rate if you’ve been accident-free for a few years, but it might not drop with your company. It all depends on the state in which you live, the details of your accident, and the severity. If it was a minor fender-bender, you might find it doesn’t affect your rates as long as a more severe accident will.