Is there hope for a lower car insurance payment? Hello everyone, Brief story, please bare with me! 26y/o Male. This my first ever accident / At Fault Accident and I was extremely naive of the huge price increase from my insurance as a result. (I have also not received any traffic tickets as well) It has been exactly 1 year since the accident and I am in need of financial guidance because my new insurance rate increase has far exceeded my planned financial budget. It has become somewhat of a burden but I am managing to get by and will continue to do so as I have no other option. As always, any guidance, suggestion and/or help will be deeply appreciated!! I was in my FIRST ever at fault accident driving my previously fully owned vehicle in May 2016, police were not called to the incident.) The other driver took my information and snapped a photo of my ID and Progressive handled the claim with the other driver. My car was then stolen from my apartment complex October 2016, just before my 6 month policy was set to renew and deemed a total loss per my insurance as the car was never recovered. During the duration of being without a vehicle, which was about 30 days, I was still insured as solely a driver but without a vehicle. I had continued to pay a discounted monthly rate. I purchased a vehicle, a 2014 Subaru Impreza, in November 2016 and appropriate insurance coverage was reinstated for myself and my vehicle. Fast forward to February 2017, my policy renewal occurred and I was billed for $1200 for insurance renewal of 6 months which had increased from $650 for a 6 month period. The exact same coverage from my previous vehicle was carried over to my new policy at the time of the purchase. I understand my rate had increased “X” amount of dollars because the vehicle I purchased is newer but almost a double price increase from a relatively small at fault accident??? Is it likely talking to a progressive insurance representative about this huge increase of price regarding my at fault accident? Could Progressive lower the payment of my insurance policy at all? or am I doomed to suffer the consequences of the situation I had put myself in??? side note I have shopped around with many major insurance providers and I have been quoted a similar rate of around $1200/6months because of my accident …. Sincerely, Mogleybear. Kindly, thank you for your time, help, suggestion and/or guidance!
May 25, 2017 at 05:42AM
