The auto insurance expiration deductible refers to a program in which the car insurance deductible will decrease every year that you have not had accidents. Accident forgiveness is an insurance feature that protects drivers from the most expensive auto insurance rates after an accident. Often, you can add this feature as an optional clause, or you can opt for a free cancellation by accident after a few years without suffering accidents. Car accidents can cost you hundreds or even thousands of dollars, depending on your car insurance deductible.
When you add temporary deductible coverage to your car insurance policy, your insurance deductible will gradually decrease the longer you drive without an accident. While adding variable deductible coverage to your car insurance policy is usually affordable, the cost can vary depending on the driver and the insurer. Drivers who cause an accident may see a 33% increase in car insurance over the next three to five years, until the accident disappears from their driving record. This information may be different from what you see when you visit the website of an insurance provider, insurance agency, or insurance company.
While deductible reduction incentives are not necessarily limited to any specific insurance company, several major insurers offer temporary deductible programs. It's important to note that car insurance companies may have different rules and costs for a decreasing deductible. However, Geico does offer other options that could save you money, such as accident forgiveness insurance, a safe driving app (which you can use to get discounts for safe driving) and many types of auto insurance discounts.