Car Insurance Question

Discussion in 'Archived Threads 2001-2004' started by Paul_Medenwaldt, Mar 18, 2003.

  1. Paul_Medenwaldt

    Paul_Medenwaldt Supporting Actor

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    My car insurance premium is due in a few weeks. I have full coverage on my car, but the car is paid off.

    I'm thinking of knocking it down to just liability coverage.

    Last fall I got a speeding ticket, and from what I understand about the car insurance industry is that they do not check your driving records unless there is a change to your policy or you file a claim.

    My question is if I decrease my coverage, will they find out about my speeding ticket by just making that change from full to liability?

    If there are anybody here with a background in insurance, i would like your input.

    Thanks

    Paul
     
  2. KyleS

    KyleS Screenwriter

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  3. Paul_Medenwaldt

    Paul_Medenwaldt Supporting Actor

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    The speeding ticket was my first moving violation since 1992.

    When i recieved my bill this week, the rates did not go up dramaticly like I thought they would having got the speeding ticket in August 2002.

    So I should be under the assumption then they do know about the moving violation?

    Paul
     
  4. Lee L

    Lee L Supporting Actor

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    No, I'd be very surprised they did not know about it. More likely you caught a break and they considered the fact that you have had a clean record for 10 years and the ticket was not bad and they decided you were not that much of a risk.

    Insurance companies exchange an incredible abount of info these days about you, including publishing your claim and contact history for home and auto to an industry database they can use to screw you one day or deny you coverage after you have water damage or something similar.
     
  5. SteveA

    SteveA Supporting Actor

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    Not all insurance companies routinely check your driving record. My State Farm agent told me that they only check your driving record when you add or change policies or file a claim. In college, I had 3 tickets in 2 years and my insurance never went up until I moved to a new state and had to apply for a new policy.
     
  6. alan halvorson

    alan halvorson Cinematographer

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    You realize that in Minnesota, if you were speeding in a 55 zone and you were under 10 mph over the limit, the violation does not go on your record. Violations in other zones, however, do.

    What effect it will have on your premium depends entirely on the insurance company. The one I worked for for many years did not care one whit about speeding (I know - I wrote that section of code).

    How much is your car worth? Can you stand a total loss? Sure, you'll save money, but when the time comes, what will you wished you had done? That's the perspective you must use when deciding whether to drop collision or not.
     
  7. SteveMc

    SteveMc Stunt Coordinator

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