car insurance question.

[CopMagnet5oh]

Hello, my renewal is coming up and they send me a letter asking about mileage and if i drive the car to work and if i drive the car for business. anywho, i drive the car about 80k kms a year and all for business, but i was wondering if i tell them this my rate will go up. The car is not worth much at all and in case of accident i wont claim it through insurance if i get a choice. any experience with such chance in policy ? previously when i renewed i did not have the job i do now. please do not post, if i get in accident they will not cover me and such, i am aware of my coverage. just not sure about price change for this change in policy.

thank you.

- CM

[spankayf]

So why dont you call and ask how much it will save you to have the collision removed from your coverage?

You run the risk of of getting tagged with making false claims to your insurer if you out and out lie about your vehicle use. Getting insurance after that will be a nightmare

[Platinum Cycle]

What you're suggesting is Material Misrepresentation and it's ground for voiding your policy "ab initio" which means from the beginning when the policy first began.

What this means is that any claim you make for the damages to your car would not be recoverable. You are okay with this I gather.

Secondly, Any liability claim your insurer is legally bound to pay on your behalf (i.e. the driver in another car you may injury or kill) may be recovered from you directly.

Thirdly, you are actually commiting a crime. It's called fraud, by definition you are defrauding your insurer of the "valuable security" they are entitled to charge you, in other words the appropriate premium.

Fourthly, if your policy is voided you can be charged by the police for driving without insurance. A nice fine ineed.

Finally, by not paying your fair share of premiums you're making the rest of us who are honest with our insurers about the risk they are insuring pay more than we need to.

ON BEHALF OF ALL PREMIUM PAYING CUSTOMERS OUT THERE I BEG YOU TO TELL THE TRUTH, PAY THE PROPER PREMIUM AND HENCE SAVE ME FROM OVERPAYING MINE TO PAY FOR PEOPLE LIKE YOU.

[mat2312]

ON BEHALF OF ALL HONEST HARDWORKING PEOPLE I ASK THE INSURANCE COMPANIES TO STOP THEIR DISHONEST PRACTICES.




btw lol @ the idea that if he paid his correct premium that somehow people like you would have a lower rate, the insurance companies would charge the same and make you pay.


If it were me I'd tell them I drive 5000K/year, how exactly are they going to find out? Odometer readings? nah I drive the car on private land/tracks

[CopMagnet5oh]

this guy obviously cant read, as i clearly asked not to give me this kind of useless advice. but anywho, i do not have collision coverage on my car, and calling them and asking " what if " questions is fairly stupid.
i wish someone knew the % difference in premium costs between private use and business use.



What you're suggesting is Material Misrepresentation and it's ground for voiding your policy "ab initio" which means from the beginning when the policy first began.

What this means is that any claim you make for the damages to your car would not be recoverable. You are okay with this I gather.

Secondly, Any liability claim your insurer is legally bound to pay on your behalf (i.e. the driver in another car you may injury or kill) may be recovered from you directly.

Thirdly, you are actually commiting a crime. It's called fraud, by definition you are defrauding your insurer of the "valuable security" they are entitled to charge you, in other words the appropriate premium.

Fourthly, if your policy is voided you can be charged by the police for driving without insurance. A nice fine ineed.

Finally, by not paying your fair share of premiums you're making the rest of us who are honest with our insurers about the risk they are insuring pay more than we need to.

ON BEHALF OF ALL PREMIUM PAYING CUSTOMERS OUT THERE I BEG YOU TO TELL THE TRUTH, PAY THE PROPER PREMIUM AND HENCE SAVE ME FROM OVERPAYING MINE TO PAY FOR PEOPLE LIKE YOU.

[spankayf]

I think its more an issue of your poor writing skills

[CopMagnet5oh]

I think its more an issue of your poor writing skills

thats right on topic, thanks.


sometimes people talk because they have something to say and sometimes they talk because they have to say something. you guys are like a bunch of little girls who talk just because you cant resist putting in your little opinion, which does not help anyone one bit. If you dont have anything valuable to say, dont say anything. i asked a specific question, not for opinions on the matter.

Cheers,

[Avi Singh]

this guy obviously cant read, as i clearly asked not to give me this kind of useless advice. but anywho, i do not have collision coverage on my car, and calling them and asking " what if " questions is fairly stupid.
i wish someone knew the % difference in premium costs between private use and business use.

There is no way to advise you of the % difference without knowing your exact policy details. It's different for everyone, as no one's situation is exactly the same.

Depending on which insurance company you're with you may be looking at 5-15% difference roughly.

Not sure what you do, and what your "business use" is, but you may be able to claim some of your premium as an income tax deduction (speak to your accountant).

Though you asked not to be told, answering no to the questionairre you were sent will be considered material misrepresentation, the consequenses are as such that it will cost you much more in the long run than paying the difference in premium now.

[Platinum Cycle]

There is no way to advise you of the % difference without knowing your exact policy details. It's different for everyone, as no one's situation is exactly the same.

Depending on which insurance company you're with you may be looking at 5-15% difference roughly.

Not sure what you do, and what your "business use" is, but you may be able to claim some of your premium as an income tax deduction (speak to your accountant).

Though you asked not to be told, answering no to the questionairre you were sent will be considered material misrepresentation, the consequenses are as such that it will cost you much more in the long run than paying the difference in premium now.

Avi, you should no better than to actually try and offer some good sound insurance advice to this gentlemen, he gets quite irate if you don't agree with the fraud he intend to pull on his insurer.

I know as a broker you're only tryiing to fulfill the duty of care you'd owe to any client or person who may rely on your knowledge but in this case unless you agree with the gentlemen who started this post you're suggestion that he ne honest will be summarily dismissed.