Accident Forgiveness from Your Virginia Car Insurance Company Jumps in to Rescue Your Rates
If there's anything that spells bad news for your insurance coverage, it's being in an accident. Whether you weren't paying enough attention backing out of your driveway or went sliding on a wet road and slammed into oncoming traffic, causing an accident spells murder for your checkbook when your Virginia car insurance company finds out about it. The good news is, many companies are offering accident forgiveness to rescue your insurance rates.
So, You've Been in an Accident
Let's pretend for a moment that you've been a longtime customer of a particular Virginia car insurance company (at least 15 years) and while you were insured by them you never, ever had a single accident (your fault or otherwise). You only drive a couple of miles to and from work, and your insurance rates are rock bottom. Then, one day, you're not paying enough attention rolling up to a stop light and you rear end the car in front of you.
Like a good little driver you apologize profusely and willingly exchange insurance information. Your Virginia car insurance agent gives you a call to go over the accident (which you willingly admit is your fault) and promises to take care of everything for you. You know it's going to impact your car insurance rates, but you're so glad to have the accident dealt with that you really don't think about it-until you get that first bill in the mail.
Your rock bottom car insurance rates just increased by 40%! For your first accident! (And a fender bender at that.) What's going on?
Unfortunately, this is pretty par for the course when it comes to your insurance coverage. Drivers with an otherwise spotless driving record go into sticker shock when they see what's happened to their car insurance payments after an accident. The good news is, accident forgiveness can swoop in and save the day.
What is Accident Forgiveness?
Accident forgiveness is exactly what it sounds like. Virginia car insurance companies that extend accident forgiveness to their drivers "forgive" your first at-fault accident, either leaving your insurance rates untouched or minimizing the negative effects the accident is going to have on them. (i.e. Rates may go up by 2-5% rather than 40.) This is good news if this is the first time you've ever been in an accident.
Of course, it's essential to read the fine print before you breathe a huge sigh of relief. Some Virginia car insurance carriers offer accident forgiveness as a standard part of your insurance policy, others require you to purchase it separately. Almost all of them are going to require that you have a clean driving record dating back at least 5 years, and some may make you wait until you've been a customer for three years before extending you coverage.
Accident forgiveness can be the answer to your prayers if you've been in an accident, so check out your insurance policy or call your Virginia car insurance agent to find out whether accident forgiveness is part of your policy. Your checkbook will be very, very grateful!