Convictions on insurance record



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  1. #1
    GateKeeper's Avatar
    Join Date
    Jan 2012
    Location
    Mississauga
    Posts
    122

    Re: Convictions on insurance record

    Quote Originally Posted by murf View Post
    After your ticket falls off the record, cancel your insurance and go to a different company. When they pull your abstract they won't see that ticket?
    Quote Originally Posted by VifferFun View Post
    That is correct.
    Quote Originally Posted by murf View Post
    That was easy!
    Quote Originally Posted by KrazyBones View Post
    that is what i think i will do.

    Right now i have a bike, car and renter and life insurance with statefarm. If i cancel my car insurance can they jack up my bike policy? Also my agent told me that the life insurance and renter is "free" cause its a bundle? Is that ********?
    All fine and dandy.....

    Until your current Insurance Company hits you with their cancellation fee........

    They are going to get it out of you one way or another......

    Am I right VifferFun ?
    2012 Kawasaki Ninja 250
    1983 Suzuki GS750E - Rebuild Project

  2. #2

    Re: Convictions on insurance record

    no such thing for car insurance. State-farm doesn't charge a cancellation fee as iv cancelled my car insurance before

    for bike they may charge or pay you depending on when you cancelled.

  3. #3

    Join Date
    Mar 2011
    Location
    Oakville
    Posts
    89

    Re: Convictions on insurance record

    Quote Originally Posted by GateKeeper View Post
    All fine and dandy.....

    Until your current Insurance Company hits you with their cancellation fee........

    They are going to get it out of you one way or another......

    Am I right VifferFun ?
    Some companies charge a fee and some don't. No different than any other company in every industry that you sign a contract with.

  4. #4
    VifferFun's Avatar
    Join Date
    Jul 2008
    Location
    West of Toronto
    Posts
    7,486

    Re: Convictions on insurance record

    Quote Originally Posted by GateKeeper View Post
    All fine and dandy.....

    Until your current Insurance Company hits you with their cancellation fee........

    They are going to get it out of you one way or another......

    Am I right VifferFun ?
    The short-rate cancellation fee is generally small -- just enough to cover the admin costs and to make sure that people don't simply sign up and cancel every two months. Used-up premium that you haven't yet paid for is another story, and I explain it in the cancellation stickies.
    I'm an Actuarial Analyst for a Major Canadian Insurance Company. I analyse claims patterns to determine overall rate changes, as well as relative premium differences by various risk characteristics (eg. age, experience, claims, convictions, usage, etc.)

    Unless it's private, please post insurance-related questions in the forum rather than sending me a PM.

    Current: 2001 Suzuki GSXR1000 (4th Season)
    Previous: 1996 Honda VFR750F (4 Seasons)
    Previous: 1998 Kawasaki Ninja EX250 (3 Seasons)

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