Automotive

Insurance - Accident Forgiveness

  • Last Updated:
  • Oct 1st, 2020 6:44 pm
[OP]
Newbie
Jun 9, 2017
56 posts
10 upvotes

Insurance - Accident Forgiveness

With respect to “accident forgiveness”, is it worth purchasing? If so, how much should it cost?

I was reviewing my policy with the insurer and the agent commented that I didn’t have accident forgiveness on my policy. I could add it on but was quoted it will be an additional annual $170 / driver. From searching Google, I think it is on the high-side or has it just increased to that price now?
15 replies
Deal Addict
User avatar
Oct 24, 2005
4866 posts
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Burlington
Believe it follows the car and not the driver. I pay $110/year.
Deal Expert
Aug 2, 2001
17025 posts
7360 upvotes
I pay $50/yr. I just gave in and finally got it when I had to call in recently.
Deal Addict
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Aug 30, 2020
1085 posts
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YEG/YYZ
$170 a driver is not worth it. I have accident forgiveness but it only costs me $45.
Deal Addict
Jan 5, 2004
3777 posts
378 upvotes
Toronto
Different companies will charge different prices for it. Some is tied to the car, others are tied to the driver. Worth it or not is up to you. The best way to evaluate it. Do a quote with no accident, do a quote with 1 accident, and do a quote with 2 accidents.

Are you comfortable with the extra cost with 1 accidents? 2 accidents? Is it worth paying $170 per year to offset it. If you can afford the increase, then it's probably not worth it.
Deal Expert
Mar 25, 2005
21989 posts
2806 upvotes
thephenom wrote: Different companies will charge different prices for it. Some is tied to the car, others are tied to the driver. Worth it or not is up to you. The best way to evaluate it. Do a quote with no accident, do a quote with 1 accident, and do a quote with 2 accidents.

Are you comfortable with the extra cost with 1 accidents? 2 accidents? Is it worth paying $170 per year to offset it. If you can afford the increase, then it's probably not worth it.
After two accidents the first becomes rated. So forgiveness works up to the first at fault within 6 years only.
Deal Fanatic
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Aug 11, 2008
9035 posts
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Ontario
yes, totally worth it, but keep in mind, if you have an at fault, it would only protect you for a rate increase due to that AF with your current insurer.
Some companies charge 50, 85 or 105 per driver, all depends on the company
PatrickRedFlagDeals wrote: With respect to “accident forgiveness”, is it worth purchasing? If so, how much should it cost?

I was reviewing my policy with the insurer and the agent commented that I didn’t have accident forgiveness on my policy. I could add it on but was quoted it will be an additional annual $170 / driver. From searching Google, I think it is on the high-side or has it just increased to that price now?
RIBO LICENCED INSURANCE BROKER, over 35 years experience
Deal Addict
Jan 5, 2004
3777 posts
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Toronto
Kasakato wrote: After two accidents the first becomes rated. So forgiveness works up to the first at fault within 6 years only.
It depends on the driving record regression rule filed by the insurer. You could drop from a 9 to 9* after first one, and second accident would drop you to 6* or 3*. I don't think most insurer would drop you to a 0 while paying for the driving record protector.
Deal Fanatic
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Aug 11, 2008
9035 posts
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Ontario
If you're a 9 star and have an at fault, you will remain the 9 star. (or 6 star if that is your companies highest rating) If a 2nd at fault, you'll drop to the 5 star in most cases.
thephenom wrote: It depends on the driving record regression rule filed by the insurer. You could drop from a 9 to 9* after first one, and second accident would drop you to 6* or 3*. I don't think most insurer would drop you to a 0 while paying for the driving record protector.
RIBO LICENCED INSURANCE BROKER, over 35 years experience
Deal Addict
Oct 3, 2013
1719 posts
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West
Lol @ the people saying it's worth it vs. not. This isn't a black and white answer, and there is a reason why it is an option.

Figure out your risk/financial tolerance, then decide from there. Many people self-insure if they have the means to deal with an at-fault claim and perceive their risk of getting in an at-fault accident as low. Others may not be comfortable with that risk, and choose to tack these sorts of options on.

Really, the same can be said for every type of insurance... critical illness, disability, life, malpractice, balance protection... the list goes on.
[OP]
Newbie
Jun 9, 2017
56 posts
10 upvotes
I’m going to call them back and ask about the cost of “accident forgiveness”. It’s possible I misheard the agent who appeared to quote me $170. It seems to be considerably higher than what people have reported on this thread.
[OP]
Newbie
Jun 9, 2017
56 posts
10 upvotes
My insurer got back to me in writing and quoted me $85 per vehicle.

It looks like I misheard the previous agent which was quoting me $170 for both vehicles but I misinterpreted that as being for each vehicle. Now it seems more reasonable.
Deal Addict
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Aug 30, 2020
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PatrickRedFlagDeals wrote: My insurer got back to me in writing and quoted me $85 per vehicle.

It looks like I misheard the previous agent which was quoting me $170 for both vehicles but I misinterpreted that as being for each vehicle. Now it seems more reasonable.
Go for it. $85 is reasonable.
Penalty Box
Jun 24, 2015
5309 posts
1630 upvotes
0 downvotes
go for it, we had it too. the only downside is my wife was with a different insurance company when she had the accident, and we had to stay with that company for 6 years, even after being married together for 5 of those 6 years, so u could not put her on my policy until just recently. but now we have one car insurance bill to pay instead of two and its nice, plus with the insurance company we are with now, we also have accident forgiveness on this policy to
Hi

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