An accident stays on your insurance record with Geico for five years. The accident will be factored into your Geico premium for the first three years. After five years, you can be considered for Geico’s good driver discount again, as long as you haven’t had any additional accidents or moving violations.
How much will my Geico premium increase after an accident?
Your rate won’t increase if the accident is not your fault and the other driver’s insurance pays for your claim, or if the damage is less than $750.
Otherwise, Geico insurance will go up by about 45% after your first accident. After your second accident in less than three years, your insurance will go up between 95% and 155%, depending on the total cost of the claims. These surcharges will be in effect for three years after the claim.
Does Geico offer accident forgiveness?
Geico has two different accident forgiveness programs for drivers age 21 and up. The first program is free and waives the surcharge for your first accident. To qualify for a new claim to be forgiven, you must have had a Geico policy and been accident-free for at least five years.
In the second program, qualifying drivers pay for accident forgiveness as a supplemental coverage option. You’ll have to meet driving-record requirements that can change state to state, so it’s best to contact Geico directly to see if you’re eligible and get a quote.
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