| |
| |
|
Insurance Information |
|
|
|
Consequences of Late Insurance Payments
Did you realize that it could cost you more than a late fee when you make your insurance payments late? That's right, not only will you incur a late fee in most cases but also you are jeopardizing your current coverage and possibly your future rates. Let's consider what is probably the worst-case consequence of making late insurance payments. If you cut it too close and send your payment too late, you may not even realize that your insurance policy was cancelled. Now you are driving around with no insurance coverage. Receipt of your payment by the company does not necessarily constitute reinstatement of your policy. You think you're covered because you mailed the payment but that may not be the case. When the insurance company receives your payment after your policy was cancelled they may return it to you in the mail. In some cases, they may keep it and apply it to any balance you may still owe. You really have no idea what the status of your policy is but are assuming it's okay because you haven't received any notices yet and no phone call from the company or your local agent. Now you have an accident and assume everything is okay because you mailed your payment. You're thinking "I'm covered" but in essence you are not; you just don't know it yet. You find out when you contact the insurance company to let them know about your accident and they inform you that you do not have any coverage. You insist that you do because you mailed your payment. They tell you that it was too late and that your money is being sent back as you speak. Being involved in an auto accident without insurance coverage is not a good thing. You can loose your license even if it was not your fault. Many states have financial responsibility rules that apply to auto accident and can affect your driving privileges regardless of who is considered to be at fault. Another consequence to consider is the fact that your insurance company may find that after reviewing your payment history that they no longer wish to insure you. They may issue a 'non-renewal' notice. This means that they are no longer willing to insure you when your policy expires. You will have to get an insurance policy from another carrier. It is also possible that your insurance company would be willing to renew your policy but require that you pay in full for the entire term; not giving you the opportunity to make late payments. If you are unable to pay in full for the policy term you may decide to shop for a new policy; however you may find that other insurance carriers could also require that you pay in full. Consider that you may also damage your insurance credit based score. Many insurance companies review your credit and prior insurance history when determining what rates to charge you. Having made previous late payments on your insurance policy could cost you extra dollars when you buy a new policy. You might have ordinarily qualified for better rates but because you made late payments on your previous policy your new one is going to be surcharged. Contact your agent or the insurance company if you cannot make your payment on time. They will be able to provide you with information regarding any late fees or cancellation date. They may also be able to provide advice or propose an alternative solution. Visit http://www.carinsurance.com for Automobile Insurance Quotes Jason Horowitz is a representative of CarInsurance.com. You can visit CarInsurance.com at http://www.carinsurance.com or contact them at 1-877-327-8728. CarInsurance.com's online insurance marketplace gives an opportunity to consumers and to insurance companies. We offer the ability to shop for car insurance online. Consumers can receive quotes from many insurance companies, in some states you are able to purchase your insurance instantly, online. You don't have to drive your car to buy car insurance. Buy online... anytime!
MORE RESOURCES:
Google News |
|
|
|
RELATED ARTICLES
Are You Overpaying On Your Home Insurance Policy? For many consumers the cost of daily living is becoming increasingly higher. High gas prices, rising automobile costs and the cost of buying a new home can be very troublesome. Consequences of Late Insurance Payments Did you realize that it could cost you more than a late fee when you make your insurance payments late? That's right, not only will you incur a late fee in most cases but also you are jeopardizing your current coverage and possibly your future rates.Let's consider what is probably the worst-case consequence of making late insurance payments. Six Ways to Cut the Cost of Your Auto Insurance Is your auto insurance bill $12000 a year or even higher? It's not unusual for auto insurance to cost this much these days. But it doesn't necessarily have to cost this much. Who Else Wants to Understand Travel Insurance Policy Language? Aren't all travel insurance plans basically the same?No. When you read travel insurance policy language, remember that as with any legal document, the definition of the terms is what governs the working of the policy (including payment of the claim). Term Life And Whole Life Insurance Which type of policy is best for you, term or whole life? The answer depends on several factors, including:Your Needs. If you need coverage only until your children graduate from college, for example, you might be better off with a term life policy. Why Does Health Insurance Cost So Much? Why does health insurance cost so much? Year after year, many of the articles that appear in print detail the specific factors driving the cost of healthcare.These factors include: general inflation, advances in drugs and other medical devices, rising hospital and doctor expenses, government mandates, increased consumer demand, litigation, fraud, and cost shifting. An Intro To Life Insurance There are many options available for life insurance, and for most people these options can be somewhat confusing. Below is a brief review of each type and some advantages and disadvantages of each. Are You Sure That Heirloom Oriental Rug From Your Aunt Hilda Is Really Insured? Gone are the days of the cinder block and wood plank bookcases. You've come along way from that old reliable jut rug and CDs (or in some cases, actual vinyl albums) stored in milk crates. Poor call centre performances driving motorists online for insurance In their efforts to cut costs more and more finance companies are looking to use offshore call centres to provide their customer services and administration. This is especially prevalent in the insurance industry, where it seems as if there is a newspaper announcement of previously UK based services migrating abroad every day. Term Life Insurance - A Safeguard for Small Business Owners Term life insurance can offer protection for a small business and its owners in surprising ways. If you own a small business, you probably pay property and liability insurance, and are protected against fire, theft, flood and other disasters. Travel Health Insurance - Understand the Benefits If you're planning an overseas trip, you need travel health insurance. Every year, nearly 1 million Americans require emergency medical treatment while overseas. Indemnity Insurance For Landlords As a property owner it is essential to protect yourself from the potential legal claims that could be made by tenants, contractors and members of the public who are injured whilst living in or visiting your property.All landlords are at risk of being sued if found to be negligent or in breach of their duty of care. Do You Pay Too Much For Your Car Insurance? Do the premiums just seem to get higher and higher every year?It is amazing how many people just receive their insurance renewal when it is sent out each year and pay it off without a second thought!But, at the back of their mind, is this niggling feeling of discontent about the amount they are paying. Unfortunately many feel there is nothing they can do about it, they are literally being held to ransom by the insurance companies. Life Insurance Careers Do you like to spend all day being sitting around? Fixed income is good enough for you? Do you feel economic stability is not a priority right now?Well, if your answer to any of above questions is "Yes", you should accept the fact youhave a very high chance of being unsuccessful.But if, in the other hand, you are proactive, if you need to build a future for your family and yourself, establishing financial stability with a job that takes advantage of all your skills, then you should strongly consider a career in the life insurance world. A Guide to Insuring Your Sailing Dinghy If you've just bought a dinghy or are thinking about changing insurance companies, Noble Marine's Guide to insuring your dinghy may help you decide the sort of policy you need.Both the cover provided by different Insurance Companies, and the service they offer, can vary greatly. The Importance of Travel Insurance You've finally saved enough to go on that dream vacation you've been planning. Now you're wondering if you should buy travel insurance. Life Insurance Leads, Insurance Leads, and the Online Lead Generation Business I've long wanted to write an article about Internet Leads (Life Insurance Leads, Health Insurance Leads, Homeowner's Insurance Leads, etc) and why they are a waste of money, time, and a drain on the Insurance Industry. Thank you ezinearticles for this powerful resource in communication!Insurance Agents all over the USA are getting solicitations every single day for one new lead program or another. Life Insurance: Why Theres No Need to be a Desperate Housewife Life insurance looks set to make a comeback in the UK, after a period of neglect by consumers who were simply occupied with affording a home. The stabilising of the UK house market has made many consumers take a broader view to their personal finances. Why Do You Need Homeowners Insurance? The biggest single investment most people make in their lifetime is buying a home, condominium or townhouse. What you want to do is protect your home, personal property and any type of liability with a homeowner's insurance policy. How Will an HSA Save Me Money? The Health Savings Account (HSA) is a tool to help you save money on health insurance. But how does it do that?A Health Savings Account (HSA) is just a savings account.
|
| home | site map | contact | Partners |
| © 2006 - insurance-information.cliczoom.com |
