by Guest » Thu Jan 17, 2008 05:18 pm
im insured with geico, i got ticket for carless driving but was not involved in any accident so i know i have points assessed on my license now..
would my insurance rate go up??
would my insurance rate go up??
Posted: Thu Jan 17, 2008 05:57 pm Post Subject: Points
If the insurance company orders your driving record at renewal, they may (or may not) increase your premium at renewal.
Posted: Thu Jan 17, 2008 05:59 pm Post Subject:
so it will not go up b4 renewal??
Posted: Fri Jan 18, 2008 01:08 pm Post Subject:
It CANNOT go up PRIOR to renewal...the ONLY time a policy premium can increase is at renewal...it CANNOT increase 'mid-term'
Posted: Sat Jan 19, 2008 10:14 pm Post Subject:
How many points do you have? I think they will look at the situation too, my insurance policy states different brackets for different amounts of points. As stated here they may pull a drivers record before renewal.
My insurance was just raised because my state caused more payouts in policies, I have not filed a claim in over 12 to 15 years and because others have, I have to pay a higher rate, how is that for fairness?
Posted: Sat Jan 19, 2008 11:23 pm Post Subject:
It CANNOT go up PRIOR to renewal...the ONLY time a policy premium can increase is at renewal...it CANNOT increase 'mid-term'
Lori's right. The only time an insurer can raise your rates mid-term is if you have a change to your coverage or perhaps you buy a newer, more expensive car- something like that. For your careless driving ticket, you won't see any effect on your premiums until your renewal.
IF they run your motor vehicle record at renewal, trust me, you'll probably see an increase. Lots of companies consider careless and reckless driving infractions as a major violation, as opposed to a minor violation such as blowing a stop sign. GEICO is mostly a preferred risk insurance carrier, with higher risk tiers in many states (If anyone knows this, please comment), so they may no longer consider you a preferred risk anymore.
So...hopefully they won't run your MVR! :!:
Oh- make sure you take care of the ticket! If you don't, that will get ya good in the short and long run.
InsTeacher 8)
Posted: Sun Jan 20, 2008 05:12 am Post Subject:
"Lots of companies consider careless and reckless driving infractions as a major violation, as opposed to a minor violation such as blowing a stop sign. GEICO is mostly a preferred risk insurance carrier, with higher risk tiers in many states (If anyone knows this, please comment), so they may no longer consider you a preferred risk anymore. "
sorry for being stupid but, i didnt quiet get itcan u xplain more please... .... i pay my insurance monthly so i will not see increase right
Posted: Sun Jan 20, 2008 06:48 am Post Subject:
The OP (niral) said:
"Lots of companies consider careless and reckless driving infractions as a major violation, as opposed to a minor violation such as blowing a stop sign. GEICO is mostly a preferred risk insurance carrier, with higher risk tiers in many states (If anyone knows this, please comment), so they may no longer consider you a preferred risk anymore. "
sorry for being stupid but, i didnt quiet get itcan u xplain more please... .... i pay my insurance monthly so i will not see increase right
First of all, you're not stupid. This is an area that takes expertise, and everyone has expertise in different areas. I bet you have talents and abilities in areas I would have absolutely no clue. Trust me, my wife reminds me of that constantly when I try and fix things that I should have nothing to do with. :shock:
Let me answer your question. The frequency with which you make your premium payments (yours being monthly) has nothing to do with it. The important part is the "policy period." In car insurace, it's normally 6 months, with certain policies going longer. Look at what's called your "declarations page." That's the document that shows your cars, the coverage amounts, premium, etc. Look for the policy period info- it'll normally go for a 6-month period. That's the period of time that Lori was referring to, and that's the time frame when the company can't raise your rates.
As far as the "tiers" go, insurers commonly have different levels of pricing plans, or "tiers" based on any number of criteria. Most commonly, insurance companies use driving record, ages and driving records of all drivers, types of vehicles, where you live (territories) and more and more importantly every day- credit (more appropriately- insurance) scoring in computing premiums.
The better you are, so to speak, in all of those categories- the cheaper your insurance premiums. You've probably heard of "preferred" risk and "standard" risk and things like that. Some companies even have "select" tiers for the very best.
Here's what I meant in my first post: If you are currently in a preferred risk tier, and the company considers your careless driving infraction a major violation- you generally will not be considered for preferred rates anymore. There's a possibility that you may be moved into a standard or (hopefully not) non-standard category. Non-standard is high-risk, and things tend to get spendy. Especially if you have a nice car, cheaper for liability only coverage.
You're insured with GEICO, right? Did you buy your policy online, over the phone or in person through an agent? That might make a difference depending on a customer service level.
This is why I say always buy your insurance from a PERSON who has an OFFICE in your area and not from a COMPUTER or PHONE. :roll: This way, if you have questions that go beyond the average customer service person or website, you can get answers and information. In case you're worried, don't be- your agent won't "turn you in" to the company.
InsTeacher 8)
Posted: Sun Jan 20, 2008 01:22 pm Post Subject:
Just throwing in one more thing in case "declarations page." threw our OP (which it could! I know it would many people)...just look at the ''proof of ins'' card or paper you keep in your card or wallet, that too must carry the policy period...that's why you get a 'new' one every six months...
PS...I agree no stupid questions...again unless it's, ''Lori, is THAT your natural hair color?" (haha)
Posted: Tue Jan 22, 2008 03:41 am Post Subject:
thnx for ur help specially insteacher..it makes me feel much better but still worried abt my premium increasing
Posted: Tue Jan 22, 2008 04:07 am Post Subject:
If it does increase it is just something you will have to live with right, don't the points drop off after a certain amount of time? As long as they don't drop you, I would not worry about it, just be more careful on your driving. Like I said you can't really do anything about it, so I would not loose any sleep over it. Looks like you got some great advice here anyway. Hope it all works out for you.
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