Define: Accident Forgiveness

UK Accounting Glossary

Definition: Accident Forgiveness



What is the dictionary definition of Accident Forgiveness?

Dictionary Definition


A form of (optional) vehicular insurance coverage wherein the insurer waives its right to increase the rate of the policyholder at fault in the event of an accident.


Advertisement



Full Definition of Accident Forgiveness


Accident forgiveness is a feature of an auto insurance policy that protects your driving record from being affected by the insurance company’s rating system for an at-fault accident, thus preventing your insurance premium from going up because of an at-fault accident.


Advertisement




Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/accident-forgiveness/
Modern Language Association (MLA):
Accident Forgiveness. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. February 25, 2020 https://payrollheaven.com/define/accident-forgiveness/.
Chicago Manual of Style (CMS):
Accident Forgiveness. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/accident-forgiveness/ (accessed: February 25, 2020).
American Psychological Association (APA):
Accident Forgiveness. PayrollHeaven.com. Retrieved February 25, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/accident-forgiveness/

Definition Sources


Definitions for Accident Forgiveness are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • BusinessDictionary.com
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 8th December 2019.