A number of factors will determine how a car accident impacts your insurance rates. If you were not at fault, or if there was no property damage as a result of the accident, you may not even suffer a rate increase. However, if you were at fault for the accident or the accident caused significant property damage, then your insurance rate will rise significantly.
The nationwide average rate increase for an at-fault accident with property damage is approximately 45%. Depending on the state and the insurance provider this amount can change. More forgiving providers may only increase the rate by 21% while more stringent providers can increase rates by as much as 73%. These increases can severely impact your financial stability.