Hi,
I had received a $40 ticket for driving 70 in 60 zone. Since the cop told there will not be any points I just paid off the ticket to save hassles related to court and the overall time.
Will this cause increase in my insurance premium?
Also why is it always recommended to take a million dollar policy?
Any opinion is appreciated.
thanks
Vipeen
Quote:
Originally posted by mona_u
Will this cause increase in my insurance premium?
Quite likely.
Depends on which insurance company you are with and what their policy/practice is.
I had the same situation 4 years ago.
I had been with my insurance company for 4 years prior to that.
I got a ticket for doing 10 over limit (70 in 60 zone).
$39 fine, no points.
I paid it.
Next renewal, I was shocked to see increase of over $20 a month i.e. > $200 total.
I called them and they said too bad, so sad - take it or leave it.
I told them thank you very much, I can do better elsewhere and switched.
Quote:It is not only recommended, it is actually the law - at least in Ontario.
Also why is it always recommended to take a million dollar policy?
Incidentally, $2M insurance is not that much more expensive.
Only about $15 - $20 more a month - YMMV.
HTH.
Quote:
Originally posted by mona_u
Hi,
I had received a $40 ticket for driving 70 in 60 zone. Since the cop told there will not be any points I just paid off the ticket to save hassles related to court and the overall time.
Will this cause increase in my insurance premium?
Also why is it always recommended to take a million dollar policy?
Any opinion is appreciated.
thanks
Vipeen
Hi
As OIAC mentioned, most likely this ticket will effect your insurance depending upon the insurance company and their underwriting guidelines. For example, at the time of renewal when they pull your driver's abstract, they will see the ticket and if they 'do not' have one minor ticket forgiveness, you will see change in your premium. Mind you, Police officers don't know anything about the insurance rules, so just don't trust them for any insurance advise.
Quote:
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Also why is it always recommended to take a million dollar policy?
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It is not only recommended, it is actually the law - at least in Ontario.
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In Ontario, the law is to take minimum $200,000 liability insurance but most of the companies don't offer that. Minimum they offer is 1 million liability. That means if someone sues you (remember....liability), most likely he is gonna sue you for 1 million and not for $200,000 so in that case, your insurance policy will cover you for 1 million lawsuit otherwise if you had $200,000, you are covered upto only $200,000 and rest $800,000 falls on you. Do you think that you can pay $800,000 in case you don't win the case?
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Posted on: 06-08-08 12:29:20
I have faced the same situation couple of months back.
Got 2 Tickets last year. No Points. Paid them thinking nothing will go wrong.
After the next renewal premiums went up.
Fact : There is a big-misconception about points. Points basically lead to suspension of a license. But if you get a speeding ticket, have no points on then and do pay them the premiums can go up. Only key is that some companies wave 1 ticket some don't, some even don't check your records. But some do and when they find the ticket they raise the premium in the next renewal.
Bottom line : Not getting points on a ticket does not guarentee a premium hike but paying a ticket and getting it on record will surely get you a premium hike.
Only solution : Change your insurance company if you can and check if you can move to a one which can ignore the ticket for the 1st time.
In my case i cannot get even get a offer from some companies becuase I have 2 tickets in less than 5 years ( what a stupid system ).
So I have to stay with my current insurance company, the tickets are valid for 3 years. So if in 3 years i dont get any more tickets the premiums will go down.
Insurance in North America is the biggest money making scam.
Hope that helps.
Quote:
Originally posted by akscanada
some even don't check your records.
Do you know any of those? I would like to keep such company handy !
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Mumbai Maazi Ladki ...
Anyone who has a clean record of 6 years i.e. six star rating can opt for "First at fault accident waiver" at a cost of $ 40 /year .
Most of the insurance company offer this waiver .
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Growing Old Is Mandatory ..Growing UP is Optional
Quote:
Originally posted by akscanada
Insurance in North America is the biggest money making scam.
Speak for Canada, it's actually much better in the States.
Used to pay $70 a month for two luxury cars, two drivers, full coverage in the States.
Paying $350 a month for similar cars, full coverage, two drivers here in bloody Canuckistaan.
This is after more than 10 years of experience, the stupid "G License" for both drivers and no accidents or tickets on record ever.
and I've been told that I actually have a "much better deal than most folks"
Bloody unbelivable!!
CAN = Consumer Advocate's Nightmare
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