"Accident forgiveness sounds reassuring, but honestly, I'd rather stash that extra premium away myself—just in case."
Yep, same here. If you're budget-conscious and disciplined enough, here's how I see it: first, calculate exactly how much extra you're paying annually for accident forgiveness. Then, set up a separate savings account or bucket specifically for car-related emergencies. Every renewal period, move that exact amount into your emergency fund instead of handing it over to the insurer.
I've been doing this for about five years now, and the math checks out—I've accumulated enough to cover my deductible and then some. Plus, defensive driving habits are key. Ohio winters can be brutal, and I've found that investing in good tires and keeping up with basic maintenance (brakes especially) reduces the risk more effectively than paying extra for a "just-in-case" scenario.
Insurance companies know their numbers—they wouldn't offer accident forgiveness if they weren't profiting from it. Better to keep that money in your own pocket...
Totally agree with your approach—I've been doing something similar myself. A couple things I'd add from experience:
- Definitely smart to keep emergency funds separate. I learned the hard way after mixing my "car fund" with general savings...ended up dipping into it for vacation expenses one year, and regretted it when my brakes needed replacing shortly after. Lesson learned.
- You're spot on about tires and brakes, especially here in Ohio. I used to underestimate how much difference good winter tires made until a close call on icy roads woke me up. Now I budget for quality tires every few winters.
- One minor disagreement though: accident forgiveness might still make sense if you've got a newer driver in the household or someone who's accident-prone. Sure, insurers profit from it overall, but individual circumstances matter too. I've seen friends save big because of one teenage fender-bender.
But for disciplined drivers who keep a solid emergency cushion, your math definitely holds water. It's all about knowing your own risk tolerance and driving habits, IMO.
