The best accident forgiveness insurance companies areAllstateandGeico, according to WalletHub’s analysis. These companies offer the best accident forgiveness options at affordable prices and receive great customer service ratings.
Best Accident Forgiveness Companies
- Allstate
- Geico
- Farmers
- Liberty Mutual
- Progressive
- Nationwide
- State Farm
- Travelers
Best Accident Forgiveness Insurance Companies of 2024
Allstate
Allstate accident forgiveness is available as part of Allstate’s Gold and Platinum “Your Choice Auto” packages. The cost of these packages varies by state and driver.
Details:
- With the Gold package, each policy can have one accident forgiven every three years.
- The Platinum package allows an unlimited number of accidents to be forgiven.
- With enrollment in the Platinum program, a customer can keep their safe driver discount after a forgiven accident.
- The Platinum program includes a diminishing deductible feature, which lowers a customer’s deductible by $100 for every year of safe driving, up to a maximum reduction of $500.
- No accident surcharge will be added after a forgiven accident.
- A customer must qualify as a good driver to receive accident forgiveness (rules vary by state).
- Allstate accident forgiveness is not available in all states.
Geico
Geicoaccident forgiveness is free for qualifying safe drivers after five years. Drivers can also purchase it as a supplemental coverage option, although the cost varies by state.
Details:
- One accident can be forgiven every 3-5 years, depending on the state.
- Drivers must be accident-free for five years in order to qualify for free accident forgiveness.
- Accident forgiveness can be purchased as a policy add-on by drivers who meet certain driving-record requirements. Specific requirements vary by state.
- Your premium will not increase after a forgiven accident.
- No accident surcharge will be added after a forgiven accident.
- Customers can keep their good driver discount after a forgiven accident.
- Geico accident forgiveness is not available in all states.
Farmers
Farmersaccident forgiveness can be purchased as a policy add-on. The cost of accident forgiveness varies by driver and state.
Details:
- Each policy can have one accident forgiven every three years.
- On policies with multiple drivers and vehicles, one accident is allowed per policy.
- Unlimited fender benders (low cost accidents under a certain threshold) are permitted.
- The customer must qualify as safe driver prior to purchasing accident forgiveness.
Liberty Mutual
Liberty Mutualaccident forgiveness is free for any customer who has gone five years without a moving violation or accident.
Details:
- Each policy can have one accident forgiven every five years.
- Your premium will not increase after a forgiven accident.
- No accident surcharge will be added after a forgiven accident.
- Customers can keep their safe driver discount after a forgiven accident.
- At-fault and not-at-fault accidents may apply to accident forgiveness.
Progressive
Progressiveaccident forgiveness is available to drivers who have been continuously insured by any company for six months.
Details:
- Customers can initially qualify for forgiveness of claims totaling less than $500.
- Customers who remain accident and claim free for five years may qualify for forgiveness of high-cost claims.
- No accident surcharge will be added after a forgiven accident.
- Your rate will not change after a forgiven accident.
- Customers will lose their safe driver discount after a forgiven accident.
- Progressive accident forgiveness is not offered in all states.
Nationwide
Nationwideaccident forgiveness is available to purchase for drivers who have been insured by the company for six continuous months.
Details:
- Two minor violations in three years can be forgiven.
- Two at-fault accidents in three years can be forgiven.
- Unlimited fender benders (under $1,500 per claim) are permitted.
- Forgiven accidents won’t increase your premium.
- Customers will not lose their safe driver discount after a forgiven accident.
- No accident surcharge will be added after a forgiven accident.
- For policies with multiple drivers and vehicles, two accidents are allowed to be forgiven per policy.
State Farm
State Farmaccident forgiveness is available to customers for free after nine years of safe driving.
Details:
- One accident can be forgiven every nine years.
- No accident surcharge will be added after a forgiven accident.
- Customers can keep their safe driver discount after forgiven accident.
- For policies with multiple drivers and vehicles, one accident per policy can be forgiven.
Travelers
Travelersaccident forgiveness is included as a part of the Responsible Driver and Premium Responsible Driver plans. The cost of these plans varies by driver and state.
Details:
- One accident and one minor violation can be forgiven every three years.
- Customers must qualify as a safe driver, meaning they they’ve had no accidents or major violations in five years.
How to Get the Best Accident Forgiveness
1. Switch insurers
Accident forgiveness by itself isn’t a good reason to switch companies if you currently like your rates and coverage. However, if you’ve recently had an accident and you don’t have accident forgiveness, your current company is likely to increase your rate.
Another insurer may be willing to forgive your most recent accident to win your business. If you can’t find one that will forgive the accident for free, you might find one that will accept you into an inexpensive accident forgiveness program.
2. Look for affordable options
Look for policies that reward safe driving with accident forgiveness as a loyalty service or offer the product as an inexpensive add on. It is also important to consider the company’s premiums and customer reviews.
3. Consider the pros and the cons
While accident forgiveness is a nice perk, it is not always wise to pay extra for it. Paying for accident forgiveness can be compared to insuring your insurance, or betting against yourself. If you are a safe driver who rarely files claims, paying for accident forgiveness likely won’t be worth the cost.
4. Ask the right questions
Before paying extra for accident forgiveness, ask your insurance company about how a claim would affect your rates without this feature. Understand the circ*mstances under which an accident will increase your premiums and how long your rates will be affected.
Methodology for Selecting the Best Accident Forgiveness Companies
The best accident forgiveness companies were determined based on a comparison of the major auto insurance companies that offer accident forgiveness. First and foremost, WalletHub editors analyzed the terms of the companies’ accident forgiveness programs, including how customers can qualify and any costs involved. Each company’s average car insurance premiums and consumer ratings were also considered in creating the ranking.
Best Accident Forgiveness Companies Video
Ask the Experts
To gain more insight about accident forgiveness, WalletHub posed the following questions to a panel of experts. Click on the experts below to view their bios and answers.
1. Is accident forgiveness worth paying for?
2. Who should consider the availability of accident forgiveness when choosing an insurance company?
3. What are the best alternatives to accident forgiveness?
4. What do you think is the biggest misconception people have about accident forgiveness?
Ask the Experts
Stephen Ciccone
Chair, Department of Accounting and Finance; Associate Professor of Finance, Peter T. Paul College of Business and Economics, University of New Hampshire
Read More
Raul Rojas-Gonzalez
Professor, Fred D. Gibson, Jr. Endowed Professor in Science, College of Science, University of Nevada, Reno
Read More
Alexandre Aidov
Ph.D., Associate Professor of Finance, College of Business, University of Houston – Victoria
Read More
Bradley W. Lane
Ph.D., Associate Professor, Urban Planning Program, School of Public Affairs and Administration, The University of Kansas
Read More
Richard M. Alderman
Professor Emeritus, Director of the Center for Consumer Law, University of Houston Law Center
Read More
He Li
Assistant Professor of Finance, Department of Finance and Business Law, College of Business and Economics, University of Wisconsin, Whitewater
Read More
More Experts
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