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Car Insurance Question (1 Viewer)

Paul_Medenwaldt

Supporting Actor
Joined
Feb 6, 2001
Messages
650
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
 

KyleS

Screenwriter
Joined
Jul 24, 2000
Messages
1,232
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.
Unfortunately this is NOT true. They do check your record and if you get too many tickets they will raise your rates considerably even without an accident. I have at least 3 co-workers who have experienced this and one of my best friends. Now when you change insurance companies they will look at your record before giving you a rate quote and your current company can let one here or there slide.

KyleS
 

Paul_Medenwaldt

Supporting Actor
Joined
Feb 6, 2001
Messages
650
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
 

Lee L

Supporting Actor
Joined
Oct 26, 2000
Messages
868
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.
 

SteveA

Supporting Actor
Joined
May 25, 2000
Messages
700
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.
 

alan halvorson

Senior HTF Member
Joined
Oct 2, 1998
Messages
2,009
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.
 

SteveMc

Stunt Coordinator
Joined
Feb 3, 2001
Messages
230
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.
Thats true in Michigan too, sorta. I don't know about Minnesota, but it doesn't count as points on your drivers record. It does get listed though. And even though the State doesn't count it, the insurance companies do. I once had 0 points on my state record, but according to my insurance company I had 7. I had 2 5mph speeding worth "2" points each, and they also wanted to charge me 3 for an "at fault" accident went i hit a patch of ice and ditched my car. They said in order to file a claim they had to give me points...then said i was no longer eligible for their "preferred status" and cancelled my policy. i hate insurance companies.

I have AAA now and they're ok. I recently had a couple of those tickets drop off my record and they sent me a notice that my premium is decreasing with out me asking.
 

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