Auto Insurance Acceptance: What Does It Cover?

Acceptance Insurance is a non-standard auto insurance provider that caters to high-risk drivers who may struggle to find coverage elsewhere. The company provides SR-22 and FR-44 insurance and offers standard coverage options, including liability, personal injury protection, and comprehensive and collision insurance. Acceptance also provides additional services such as renters and term life insurance, roadside assistance, and travel insurance for driving in Mexico. While it offers competitive rates for high-risk drivers, its financial stability has been questioned, and it has received more customer complaints than average.

High-risk drivers

High-risk auto insurance is a special type of policy reserved for drivers with less-than-perfect records. Not all insurance companies offer this non-standard type of insurance, so it's important to find one that does. Some companies that cater to high-risk drivers include Acceptance Insurance, Dairyland, and Infinity.

High-risk auto insurance typically comes with increased premiums, with rates ranging from 35% to 69% higher than standard policies. The exact increase depends on the type and number of infractions. For example, a DUI conviction can result in rates doubling, while multiple speeding tickets can increase rates by up to 35%.

When choosing a high-risk auto insurance policy, it's important to consider the quality of coverage, customer service and reputation of the insurance company, as well as your own driving history and budget. Shopping around and comparing rates from various companies can help high-risk drivers find the best coverage and rates for their needs.

SR-22 and FR-44 certificates

An SR-22 certificate, also known as a "Certificate of Financial Responsibility" or "SR-22 Bond", is a form filed with your state to prove that you have car insurance that meets the minimum coverage required by law. It is not a type of insurance but rather a document from your state's Department of Motor Vehicles (DMV). An SR-22 is typically required for drivers who have been convicted of offences such as driving under the influence (DUI), driving without insurance, or multiple traffic violations. It serves as a guarantee that the driver will maintain the required insurance coverage for a specified period, usually three years.

On the other hand, an FR-44 certificate is only required in two states: Florida and Virginia. Similar to the SR-22, it is a form filed by the driver's insurance company to prove financial responsibility. However, the key difference lies in the minimum liability coverage amounts. FR-44 typically requires higher liability limits than SR-22, making it a more stringent requirement. For example, in Virginia, the FR-44 liability coverage requirements are double the state's minimum. FR-44 is generally mandated for individuals convicted of more serious offences, such as DUIs with higher blood alcohol concentrations or repeat offences.

To obtain an SR-22 or FR-44 certificate, you will need to contact your car insurance company, pay the applicable fees, and submit the necessary documentation. Not all insurance companies offer SR-22 or FR-44 documentation, so you may need to switch to a new provider.

Renters and term life insurance

Auto acceptance insurance offers a range of insurance products, including auto, motorcycle, homeowners, and commercial insurance. They also provide various types of auto insurance coverage, such as liability coverage, bodily injury liability, property damage liability, uninsured or underinsured motorist coverage, and personal injury protection. Acceptance Insurance aims to provide affordable pricing and suitable coverage for all types of drivers, regardless of their driving records.

Now, when it comes to renters and term life insurance, here's an overview:

Renters Insurance

Renters insurance is a type of insurance designed for individuals who rent their homes, apartments, or living spaces. It provides financial protection in the event of damage, loss, or theft of personal property. This insurance also typically includes liability coverage, which protects the insured from legal responsibility for injuries or property damage sustained by others while on the rented property.

Renters insurance is important because it safeguards your personal belongings and provides liability coverage. It offers financial assistance to replace or repair your possessions if they are damaged or stolen. Additionally, if someone is injured on your property, the liability coverage can help pay for their medical expenses and protect you from potential lawsuits.

When considering renters insurance, it's essential to shop around and compare quotes from different insurance providers. This way, you can find a policy that suits your budget and provides adequate coverage for your belongings and liability needs.

Term Life Insurance

Term life insurance is a type of life insurance policy that provides coverage for a specific period, usually offered in terms of 10, 20, or 30 years. It is designed to provide financial protection to your loved ones in the event of your death during the policy term. Term life insurance is generally the most affordable option for those seeking life insurance coverage.

• Locked-in Rates: Term life insurance policies have level term periods during which the annual costs remain the same. Once the level term period ends, you can renew the policy, but at higher rates with each renewal.
• No Cash Value: Term life insurance policies do not accumulate cash value over time, which is one of the reasons they are more affordable compared to permanent life insurance.
• Income Replacement: Many individuals purchase term life insurance to provide income replacement for their families or dependents if they were to pass away prematurely. This ensures that their loved ones can maintain their standard of living and cover essential expenses.
• Coverage Amount: When purchasing term life insurance, you can choose the coverage amount based on your financial obligations and the amount your dependents would need to maintain their lifestyle.
• Convertibility: Some term life insurance policies offer the option to convert them into permanent life insurance policies, such as whole life or universal life insurance, without requiring additional medical exams or underwriting.
• Health and Age Impact: Age and health are significant factors in determining life insurance rates. The younger and healthier you are when purchasing a policy, the lower your premiums are likely to be.
• Riders and Add-ons: Term life insurance policies may offer additional benefits or "riders," such as accelerated death benefit riders, critical illness riders, or the ability to decrease the face amount of the policy over time.

When considering term life insurance, it's essential to evaluate your financial obligations, family situation, and long-term goals. Term life insurance is suitable for those who want coverage for a specific period, such as during their working years or until their children become financially independent. It provides peace of mind and financial security for your loved ones at a relatively low cost.

High rate of customer complaints

Acceptance Insurance has received a high number of customer complaints relative to its size, according to three years' worth of data from the National Association of Insurance Commissioners (NAIC). The company's NAIC Complaint Index score for 2023 was 2.20.

Most complaints are about the Acceptance Insurance claims process. Customers are typically unhappy with how long it takes to get paid after an accident. Some people complain about Acceptance denying claims altogether.

Acceptance's customer service department is available 6 am to 8 pm Central Time, Monday through Friday, and 8 am to 5 pm Central Time on Saturdays. The claims department is only available 7 am to 8 pm Central Time, Monday through Friday, and 8 am to 5 pm Central Time on weekends.

Limited availability

Acceptance Insurance is a company that provides auto insurance for high-risk drivers. These include young motorists, drivers with a DUI, those with a poor credit history, and seniors. Acceptance Insurance is available in 13 states across the US. The company was acquired by Confie in December 2023 but will continue to sell policies under the Acceptance brand.

The company offers standard auto insurance coverage, including bodily injury liability, property damage liability, collision, comprehensive, medical payments coverage, personal injury protection, and uninsured motorist/underinsured motorist coverage.

In addition to auto insurance, Acceptance also offers other types of insurance, including:

• Homeowners insurance
• Motorcycle insurance
• Commercial insurance
• Renters insurance
• Life insurance

Acceptance Insurance also works with partners to offer limited travel insurance and hospital indemnity insurance.

Frequently asked questions