Failure to report a claim ASAP
Accidents and Speeding
Being convicted of DWI
Buying a new or expensive automobile for a teenager
Having a Low Deductible for Physical Damage Coverage
Driving without insurance
Failing to report an accident or crash in a timely fashion can be expensive. It is extremely important that you report a crash to your insurance carrier ASAP. Your contract states that Failing to comply with this requirement and your other requirements after a claim or loss allows the company to deny your claim!
How much time do you have to report an auto insurance claim? The circumstances of the crash and the legal jurisdiction can also impact the answer to this question. However, if you report a claim within 24 to 48 hours you should have no problems.
Although you can report a crash long after 24 to 48 hours have passed and potentially still be covered, why take a chance? The longer you wait, the harder it wi
ll be to find witnesses and to find witnesses that remember what happened. The physical evidence of the collision may also be compromised if you wait too long to file your claim.
Having a crash or getting points on your license is a great method for raising your insurance premiums. Your automobile insurance carrier wants to insure safe drivers and will offer lower rates for those who cost them less money in claims and those who are likely to cost them less in claims.
Not only is an accident likely to increase your costs for insurance, it could dramatically reduce the quality of your life if you are hurt seriously. Be a safe driver, pay less and live longer.
A DWI conviction will have a big impact on your auto insurance premiums. How long can a DUI affect your insurance rates? As long as 10 years! Although the major impact on your rates will be over in 2 or 3 years, you may not qualify for the best rates for as long as 10 years.
How much does
a new teenage driver raise vehicle insurance premiums? A lot, but the rates will be even higher if you get him or her expensive car that requires physical damage coverage. Sporty fast cars aren’t such a good idea either.
If you have a teen driver, make sure that he or she takes an approved drivers education course. Most insurance companies will give you a good discount if your child passes such a course.
Physical damage coverage is also known as collision and comprehensive coverage. Collision and comprehensive insurance are optional if your auto isn’t financed or leased. These are the part of your coverage that pay you for damage to your vehicle. Since the absence of these aspects of your policy don’t affect payments to others you might get into an accident there are no state mandates regarding them.
If you own your car outright, you can decide to accept the risk that you will need to spend your own money to replace or repair your automobile and
avoid paying for physical damage coverage.
If you feel that you need some coverage, but want to lower your costs, you can raise your deductible. You can raise your deductible for either the collision section of your policy or the comprehensive section or for both sections. This can go a long way towards lowering your automobile insurance bills.
Driving without car insurance can mean that you are mandated to have your car insurance company file an SR-22 on your behalf. This can be expensive.
Alston has been an insurance agent for over 20 years.