Your insurance company has a product for you. It protects you against a rate increase — from your own insurance company.
That’s accident forgiveness in a sentence. You pay your insurer extra money now so it promises not to punish you later. It’s insurance on your insurance, sold by the same outfit that decides when to raise your rates.
I’ve been writing about this stuff since 1991, and I became a CPA a decade before that. Whenever a company invents a product that protects you from itself, my antenna goes up. Yours should too.
Now, I’m not going to tell you accident forgiveness is worthless. For some drivers it pays off. But the marketing is a…
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