Accident Surcharge Calculator
Calculate how much your auto insurance premium increases after an at-fault accident and the total cost over the surcharge period.
Financial Disclaimer
This calculator is for educational purposes only and does not constitute financial advice. Results are estimates based on the inputs provided. Consult a qualified financial advisor before making investment or financial planning decisions.
Inputs
Results
New Annual Premium
$2,430.00
≈ 19 pairs of sneakers
Total Surcharge Cost
$1,890.00
≈ 15 pairs of sneakers
How to Use This Calculator
- Enter your Current Annual Premium before the accident.
- Set the Number of At-Fault Accidents and their Accident Severity.
- Enter how many Years Surcharge Stays on your record (typically 3–5 years).
- Indicate whether your policy includes Accident Forgiveness.
- Review the New Annual Premium, Annual Surcharge Amount, and Total Surcharge Cost over the full surcharge period.
How the result changes with Current Annual Premium
| Current Annual Premium | New Annual Premium | Total Surcharge Cost |
|---|---|---|
| $1,450.00 | $1,957.50 | $1,522.50 |
| $3,825.00 | $5,163.75 | $4,016.25 |
| $6,675.00 | $9,011.25 | $7,008.75 |
| $9,050.00 | $12,217.50 | $9,502.50 |
What each input means
- Current Annual Premium
- Your annual auto insurance premium before the accident.
- At-Fault Accidents
- Number of at-fault accidents on your record.
- Accident Severity
- 1 = Minor (fender bender), 2 = Moderate (injuries), 3 = Major (serious injuries/fatality).
- Years Surcharge Stays
- How long the surcharge stays on your record. Typically 3-5 years.
- Accident Forgiveness
- 0 = No accident forgiveness, 1 = First accident forgiven by insurer.
How this is calculated
Worked example, using the default values
- Identify Input Parameters4 parametersCurrent Annual Premium = 1800, At-Fault Accidents = 1, Accident Severity = 2, Years Surcharge Stays = 3 = 5 input(s) provided
- Calculate New Annual PremiumNew Annual Premium2430 = $2,430
- Calculate Total Surcharge CostTotal Surcharge Cost1890 = $1,890
- Calculate Annual Surcharge AmountAnnual Surcharge Amount630 = $630
- Calculate Monthly SurchargeMonthly Surcharge52.5 = $52.5
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