Definition: The term "insurance with accident forgiveness" typically refers to a policy that allows the insurance company to forgive or cancel coverage for certain types of accidents, even if you have been at fault in an accident. This may be particularly useful in situations where the damage is caused by a third-party driver or a mechanical issue.
An example of an application of this term could be in a situation where your car has sustained damage due to an accident that was caused by someone else's negligence, but you were partially at fault. In such cases, you might have a policy with an "accident forgiveness" provision, which allows you to cancel or reduce the amount of coverage you receive for the damages caused by the accident.
The key benefit of this type of insurance is that it can provide financial relief to the insured in a difficult situation where they may not be able to pay their bills. However, it also comes with some limitations and restrictions, such as exclusions and deductibles, which must be adhered to by both you and your insurer.
It's important to understand that this type of coverage is generally only available through an insurance company or through a government program if the damage was caused by natural causes, such as lightning or hail. Additionally, some policies may require proof of fault from the at-fault party in order for it to be applicable under some circumstances.
insurance with accident forgiveness