Accidents happen. But when a spouse has an accident, will it affect your driving record?
The answer is no, the accident will not affect your driving record. We each have our own. But the accident can affect our insurance costs.
Your insurer determines your insurance premiums by analyzing several areas of risk. In some cases, insurers look at thousands of data points. Your accident history and that of your household can weigh more heavily than some lesser factors.
In most households, spouses are on the same auto insurance policy. This means the drivers on the policy are each assessed as a risk, including their accident history. So, if one spouse has an accident, the cost of the policy can increase because of the accident. Think of the accident as new data. Again, insurers may be weighing thousands of data points, but some are weighted more heavily.
Drivers have an auto accident about once every 18 years, on average. Some of us might be lucky enough to never have an accident. Others may not be as fortunate. If your spouse has an accident, your rates may increase at renewal. In some cases, rates may increase simply because of a lost discount for staying accident–free for a certain period of time.
However, rates may not increase at all. Some insurance companies offer accident forgiveness in some form. And as mentioned, insurers look at many factors when setting rates. It is possible that other changes in your household’s risk profile can offset the less–than–perfect driving record.
Other driving factors can affect rates as well, such as speeding tickets or moving violations. The amount of driving you do can also affect rates. For example, if you do not drive much, you may be eligible for a discount.
Accidents happen. But one fender bender is not the end of the world. If your rates changed following an accident, reach out to your broker. Often a policy review can uncover additional ways to save that can help offset the change. At the very least, you can rest assured that you have reviewed your coverage and customized your policy to your household’s needs.
