Tax and Money Tip of the Week:
Insurance Tip: Accident Forgiveness Rider on Your Auto Insurance Policy
July 20, 2011 | No. 52
I’d like to share a relatively new addition to some insurance companies auto policies: The Accident Forgiveness and/or Violation/Ticket Forgiveness Rider. If you have this on your auto policy, it could save you hundreds or thousands of dollars! (it costs me very little)
Here’s how it works:
If you have this rider on your policy and you or someone in your family has an accident or ticket, your insurance company will “forgive” you one time and not increase your rates. Some insurance companies have an accident forgiveness rider only and not ticket forgiveness, so be sure to ask questions and understand the details of what you are buying.
Call and ask your auto insurance agent or insurance company if they offer this relatively new insurance rider that could save you thousands.
Questions or Comments?
Mark Vitek, CPA/PFS, CFP®
…until next week.