Car accidents can be one of the most daunting experiences that one can have in their entire life. Apart from the risk to life and property, another scary aspect about being involved in the accident is the potential insurance liability claim that might come your way. Something that can help if you want to ensure that you are protected against any such claim is opting for accident forgiveness as a part of your insurance policy.
What exactly is accident forgiveness?
Simply put, it is an add-on benefit that is often offered as a part of auto-insurance to prevent the increase of insurance rates, due to a first “at-fault” accident, by a driver. That is, if you find yourself at fault for an accident, and it is your first time being involved in one, the forgiveness policy can prove to be helpful in ensuring that your auto-insurance rates do not skyrocket.
Do I really need accident forgiveness if I am a safe driver?
While most people like to think that they are expert drivers, the truth is that almost anyone can have a bad day. It is important to keep in mind that irrespective of your previous driving track record, if you are found liable for an at-fault accident, it could lead to an increase in insurance rates of almost 50%. Even if you consider yourself a safe and reliable driver, if often takes only one bad decision on one bad day. It is for this reason that the accident forgiveness is often suggested as an add-on to a pre-existing auto-insurance policy, in order to save money.
However, it is important to keep in mind that the rate of an insurance policy increasing due to an accident depends on a variety of factors, such as the nature of the policy obtained, the type of accident and the monetary liability involved.
Given that the cost of adding an accident forgiveness add-on is typically a fraction of the cost that one might need to shell out in case they have been in an accident, it is a preffered choice for most drivers.
Advantages of obtaining the add-on
There are multiple advantages in opting for the accident forgiveness add on, a few of which are enumerated below:
- Be relaxed while driving: A lot of people find themselves on edge while driving because even a small mistake can prove to be a tremendous monetary setback. However, if you are generally a reliable driver with an overall clean record, this can help you relax and enjoy your time on the road, rather than worrying constantly.
- Keep your insurance rates in check: While it is true that any increase in insurance rates will depend on the type of accident and nature of damages, in almost every “at-fault” situation, there will be at least a marginal increase in rates. Compared to the negligible price of the forgiveness add on, it is sensible to purchase the add-on to protect yourself financially.
- Good driver discounts continue to remain: If you have any good driver discounts, opting for the add-on might be a good bet.