Skip to content
  • Auto Insurance
  • Health Insurance
  • Insurance Law
  • Business Insurance
  • Family Insurance
  • Medical Insurance
Risk and Insurance

Risk and Insurance

Lets find out Risk at insurance

  • Home
  • Insurance
    • Auto Insurance
    • Business Insurance
    • Family Insurance
    • Home Insurance
      • Property Insurance
    • Insurance Law
    • Travel
    • Health
      • Medical Insurance
  • General
  • Life Annuities
  • Blog
  • Contact Us
  • Toggle search form
  • The best way to Save on Insurance coverage Prices When Shopping for a New Automotive Auto Insurance
  • Incorporating Enterprise Insurance coverage in Threat Administration – Even for Small Companies Business Insurance
  • Hazard, Threat and Insurance coverage (Half 2) General
  • Cleanup after disasters Home Insurance
  • Enterprise Administration Threat and Insurance coverage General
  • Perception on Time period Insurance coverage Plans Life Annuities
  • 10 Uncommon Issues Can Influence Your Quoted Life Insurance coverage Charges Life Annuities
  • Inexpensive Household Insurance coverage is Proper Across the Nook For Your Household Family Insurance

The Implications of Lying About Your Driving History To Your Insurance Company

Posted on 07-08-201822-03-2021 By WebEditor No Comments on The Implications of Lying About Your Driving History To Your Insurance Company

Does your insurer have all the correct information about your car’s insurance?  Did you lie about your driving history?

As it turns out, there are many more people who have had to tell a little white lie about their driving history, and you are not alone. The truth is this; car Insurance is expensive, so, if there is a way of reducing the cost of that policy by a certain percentage, who wouldn’t want to? Take a quick look at Myinsuranceguide.co.nz for more tips on reducing cost.

The sad reality is that when caught, you may have to pay for so much more and you may even lose your insurance policy. As you’ll come to learn, hopefully not the hard way, it is vital to look give out the correct driving history information to the insurance company.

The DMV and other main car companies, as well as car insurance companies, look at the following elements of your driving history:

The detailed vehicle history and the vehicle ownership history

These give details of any major events such as the liens reported as well as the number of owners of the car. The historical details may also include the year you purchased the car and the use of the car (personal, rental services, or law enforcement). It’s also a requirement to divulge the estimated mileage for each year of ownership, the location of the car, and the last reported odometer readings.

This information is useful to the insurer and helps them determine the how hard you drove the car, the frequency with which you sold the car, and any discrepancies in the odometer readings.

These details are influential in determining the cost of your insurance policy.

Driving history lies and their repercussions

Usage: the use of the car determines how the car wears down. It is also an important feature used by insurance companies to process claims. If you mention that you only use the car for personal use, but the police report points to use of the car in a commercial activity; then it won’t look good on you. Your insurer will easily forfeit the cover leaving you at a loss.

  • The consequence of sharing incorrect information about the use of the car is invalidation of your insurance policy. This, as you know, is a pain and looking for another company to cover you will be quite the hassle. When you finally get an insurance company willing to cover you, it will be at a higher cost, and this isn’t great for your bank account.

Tickets and accidents: if your insurance company finds out that you didn’t divulge the details of the three-year-old speeding ticket, you may end up. You should also keep in mind that the fender bender in the last state you resided in will not just vanish.

  • The consequence of this is that the insurance company will consider you a high-risk driver and increase the cost of your car insurance. Some insurance companies avoid high-risk drivers altogether.

Mileage: your driving history highlights the total number of miles your car has hit the road. Having a car that has been on a tumultuous trip around the world means the car is a little bent out of shape. If the insurance company determines this, they will slap you with an expensive policy because that car is at a high risk of causing an accident. It doesn’t matter how carefully you drive.

  • Consequences: If you give incorrect values about the mileage and your car gets into an accident, forensic reports will reveal the truth. Besides the risk of losing your car insurance, you will be charged with fraud. In the worst-case-scenario, you may be unable to get a new coverage, and the court may compel you to pay back premiums. Oh, you may serve a jail term too!

Residence: many people lie about this. But, can you judge them – you pay less insurance when you live in the safer parts of the city than if you don’t. Though it may seem like the right thing to do, it will be a bad idea when the insurance company finds out.

  • The effect of this is that you may lose your current policy and getting a new one will be challenging and even more expensive.

Lying about who the driver is – the cost of premium payable depends on the age of the driver. Young male drivers pay more because of the general notion that they are reckless. In this case, you may lie about who the driver is and list your elder sister – great idea? No, it is a pretty bad idea. You will lose that insurance policy, maybe not get a company to cover you and worse, you will be charged with fraud.

Men, you may also want to reconsider lying about your marital status (married men or men with spouse s pay cheaper premiums). Though it’s a sweet deal, you will lose more money later on.

Summary

The effects of lying about your driving history include:

  • Losing your insurance policy
  • Paying a hefty fine
  • Paying for an expensive high-risk insurance policy
  • Inability to get a new insurance cover
  • Getting charged with fraud

Even though lying about insurance seems like a harmless idea, it isn’t. You risk less divulging accurate details about your driving history to your car insurance.

 

 

 

 

Business Insurance

Post navigation

Previous Post: Auto Insurance in St. Albert
Next Post: What You See Is What You Get

Related Posts

  • Buying Enterprise Insurance coverage for the First Time? Issues You Must Know Business Insurance
  • Errors To Be Averted When Questing For a Full-Proof Enterprise Insurance coverage Business Insurance
  • The Benefits of Enterprise Insurance coverage Quotes Business Insurance
  • Small Enterprise Insurance coverage: The Proper Protection for the Proper Enterprise Business Insurance
  • The Future of Clinical Trials Business Insurance
  • Small Enterprise Insurance coverage Quotes – What You Must Know Business Insurance

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Recent Posts

  • How ULIPs Can Be Used For Retirement Planning  
  • Taxability of medical insurance premium paid by the employer
  • Why do Singapore forex traders need a good brokerage?
  • The Ten Best Google Meet Games to Motivate Remote Teams
  • How to Jack Up Your Term Insurance Policy Coverage After Buying it?

Author Bio

Category

  • Business Insurance
  • Family Insurance
  • General
  • Health Insurance
  • Home Insurance
  • Life Annuities
  • Travel Insurance

Categories

  • Auto Insurance
  • Business Insurance
  • Family Insurance
  • General
  • Health Insurance
  • Home Insurance
  • Insurance Law
  • Life Annuities
  • Medical Insurance
  • Property Insurance
  • Services
  • Travel Insurance
  • Common Insurance Risks for Contractors Property Insurance
  • Hazard, Danger And Insurance coverage General
  • How one can Shield Household and Property From a Hurricane Home Insurance
  • Well being Insurance coverage Prices and Fashionable Medication Medical Insurance
  • Buying Enterprise Insurance coverage for the First Time? Issues You Must Know Business Insurance
  • The right way to Discover Excessive-Threat Auto Insurance coverage General
  • Why Aren’t People Buying Life Insurance? Family Insurance
  • Ought to I Let My Insurance coverage Firm Deal with My Private Harm Settlement? Auto Insurance

Quick Links

  • Home
  • About Us
  • Contact Us
  • Privacy Policy
  • Sitemap

Recent Posts

  • How ULIPs Can Be Used For Retirement Planning  
  • Taxability of medical insurance premium paid by the employer
  • Why do Singapore forex traders need a good brokerage?
  • The Ten Best Google Meet Games to Motivate Remote Teams
  • How to Jack Up Your Term Insurance Policy Coverage After Buying it?

Email NewsLetters

Subscribe Our Email Newsletter
Loading

Calendar

July 2022
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
« Jun    

Copyright © 2022 Risk and Insurance.

Powered by PressBook News WordPress theme