What Is Accident Forgiveness?
Accident forgiveness is an optional feature or built-in benefit offered by some insurance providers. It prevents your insurance premium from increasing after your first at-fault accident. This can apply to policies covering RVs, boats, and power sport vehicles, depending on your insurer.How Accident Forgiveness Works
After an at-fault accident, insurance premiums typically rise because you’re considered a higher-risk policyholder. With accident forgiveness, your first at-fault accident is “forgiven,” meaning your insurer won’t increase your premium due to that incident.Who Qualifies for Accident Forgiveness?
Eligibility varies by insurer, but you may qualify if you:- Have a clean driving record for several years.
- Maintain continuous insurance coverage.
- Stay accident-free for a set period.
Benefits for RV, Boat, and Power Sport Vehicle Owners
Accident forgiveness can be especially valuable if you own high-value recreational vehicles. Here’s why:- Premium Stability: Keep your premiums steady even after an at-fault accident.
- Financial Protection: Avoid unexpected premium hikes that could strain your budget.
- Peace of Mind: Enjoy your adventures knowing your first mistake won’t cost you financially.
Important Considerations
Before adding accident forgiveness to your policy, consider these factors:- Availability: Not all insurers offer accident forgiveness for RV, boat, or power sport insurance.
- Limits: Accident forgiveness may only apply once or have specific claim limits.
- Premium Costs: Adding this feature may increase your monthly premium slightly.
Insurance Companies Offering Accident Forgiveness
Accidents can happen even to the most careful drivers. Fortunately, some insurance companies offer accident forgiveness programs, helping you avoid premium increases after your first at-fault accident. These programs can provide added peace of mind, especially for RV, boat, and power sport vehicle owners.- Eligibility Requirements: Accident forgiveness is typically available to policyholders with a clean driving record for several years.
- Coverage Details: Depending on your provider, accident forgiveness may apply automatically or be added as an optional feature. Some insurers offer it as part of their standard policies, while others charge an additional fee.