 Short answer is NO.
If you've been driving for a while now, and have recently been involved in a car accident, your first thought would be thinking "my insurance is ruined." That my not be the case. Firstly, accidents are rated into two categories: At-fault, and Not At-fault. AT-FAULT ACCIDENTS Your insurance has deemed you as the cause of the accident, this will mostly likely affect your premiums in the future. If you've been licensed for a while, and have over 6+ years of driving experience, hopefully your broker or agent offered you accident forgiveness coverage. Your insurance company will not rate your accident upon renewal of your policy. However, each renewal is subject to the rate of that year. If you're a relatively new driver with an at fault accident, there are sub-standard companies like Echelon, and JEVCO which can insure higher risk drivers. Remember, that most parking lot accidents are deemed a 50/50, which ultimately places both parties at fault. When deciding whether to claim insurance or not, it's always a good idea to call your broker or agent whether you should file a claim. NOT AT-FAULT ACCIDENTS Your insurance company has deemed you with no fault in the accident. (i.e someone rear-ended your vehicle). This claim will not affect your insurance rates at all, however frequently getting involved in accidents, and frequently claiming insurance does make you a higher risk, which could possibly find you in some trouble finding insurance policies. If you've been involved in some accidents, and have been non-renewed by your current provider, Begin Insurance carries all the high risk companies offered in Ontario. To get a quote with us, please fill our this online quote
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