What Really Goes Into Determining Your Insurance Rates?

Divorcees may be entitled to the same kind of premium refund as a parent. If your ex-husband or ex-wife stood a poor driving record and you have continued to pay their old surcharged rates simply because they left all your family members permanently, bring this to the immediate attention of one’s insurance representative. Visit him with all of pertinent and documented information which means that your premiums may be reduced immediately while the job fast reply for a premium refund is processed.

california auto insurance quotesThe insurance companies hold these transgressions against our records for between three to reside years, depending upon state law and individual company policy. A couple of transgressions or a mix of two or more moving violations and reported at-fault accidents may not only substantially lift up your rates, but probably force you to stick with the same company, paying its high premiums, with the hope of to not get canceled and thrown to the assigned risk pool, where it can be even worse.

As an example, suppose you are a New York State driver who received a speeding ticket during a winter visit to Florida and that you then slid around the ice in route home, causing $2,000 damage to your car, which you reported for your insurance company.

As an example, if you were separated or divorced this past year but forgot that you were still paying a $600 premium using a two-car family, you’d be eligible for a sudden rate reduction to $250 (based on only your automobile) and a premium refund of $560. If you have neglected to tell your insurance company for two years, you’d be entitled to a $780 refund, etc.

If your insurance carrier procrastinates or refuses outright to pay the refund, your state insurance department (Consumer Affairs Division) will allow you to with a legitimate complaint. As a last resort, you have the option of utilizing the matter to some small-claims court or to your attorney. See sample letters A and B. My adage, that the clean record today keeps the top rates away, is truer now than ever. Since the creation of the computer age, all moving violations and reported accidents appear on your Department of Motor Vehicles (D.M.V.) Report even when they occurred out of state, while driving a borrowed or rented car, or while driving a business vehicle at work.