accident surcharge info

When you file an insurance claim for an at-fault accident with damages in excess of $500, you accrue surcharge points that automatically increase the cost of your policy for the next five years.

• At-fault accidents $500-$2000 = 3pts
• At-fault accidents over $2000  = 4pts

Every point increases the amount you pay for four policy coverages:

• compulsory bodily injury
• personal injury
• damage to someone else's property
• collision

Simply put: the more points you have, the higher your car insurance bill.

• Inexperienced drivers (>6yrs driving record) pay 7.5% above the policy base rate per point
• Experienced drivers (<6yrs driving record) pay 15% above the policy base rate per point

Let's say you're an experienced driver with a $800 policy. In this case, the 5-year surcharge penalty amount of a minor accident claim (damage under $2000) would be $1800 above the base policy rate (meaning you pay $5800 for insurance over 5 years, instead of $4000).

• $800 policy x 15% surcharge x 3 points x 5 years = $1800

0 points = 0 Surcharges + DISCOUNT (over time)

Drivers with no at-fault accidents or moving violations have 0 points and 0 surcharges. If you manage to not accrue any points for more than 5 years, you'll be eligible for a discount on your insurance.

• Drivers with at least 5 years of clean driving will receive the Excellent Driver Discount - a 7% decrease in their premiums (in 2006)*
• Drivers with 6 years driving experience + 6 years of clean driving will receive the Excellent Driver Discount Plus - a 17% savings on their premiums (in 2006)*

Want to avoid paying surcharge points and save money on your car insurance? Use King Collision Express!