By law, you are supposed to report any vehicle accident. As far as rate increases are concerned, some insurance companies offer ‘accident forgiveness’ on your 1st at-fault accident. You should always check your policy coverages to confirm that you have the appropriate coverage. If you are unsure about your coverage, always speak to an insurance professional. If you are unclear if the accident was your fault, please review the Fault Determination Rules utilized by insurance companies to determine fault. If you are found to be 50 percent, or more, at-fault, it is likely that your premium will go up at the renewal of your insurance policy.