anyone with an extensive knowledge with insurance, please help!

Hi guys,

I own an 05 A4 and I have gotten one major ticket last november for speeding.

I am currently insured with statefarm, and I understand that they cancel any policies with a major ticket once they find out about it on the renewal date.

My problem as a young driver is, that I am paying far less with statefarm then going with any other companies, and I understand that once they find out about my ticket they will cancel my policy.

When I talked to my agent the other day, he told me that if the company doesn't do a check up on my licence, that my insurance will continue next renewal date and I will not be cancelled or have to pay extra premium because of the ticket.

However, I know that when you insure with new companies, they make you disclose all accidents and tickets, but is this the case when you are insured with the same company? Simply asking: Do I have to disclose my ticket to statefarm (because it's major) even if I'm currently insured with them?

What is also the risk of them cancelling my insurance policy due to my major ticket during the insurance term?

Also heard from a friend that sometimes they make you back pay whatever you owe the insurance company because you did not disclose the information?

Any input would be appreciated.
Thanks in advance!

 

Dont disclose anything. I've been with state farm for 16 years. and i've had lots of speeding tickets. My insurance has never gone up.

 

on renewal for me with belair direct, they just mailed me new paperwork and said they were going to proceed with my reduced premiums and continue with the credit card withdrawals. nothing about pulling up my record.


good luck let us know how it goes.

 

my only concern is that its not just a normal ticket, but rather very major. Do you guys think its still okay to leave it as is?

 

Ok, did you get caught doing over 50+km/h?
I know for a fact RBC check for new tickets during renewal.

On a side note, Belair is the absolute worst insurance company.

 

A very long time ago, I got my license suspended from too many back-to-back speeding tickets (I was young). State Farm (my insurance at the time) had no idea.

My suggestion is to let it be and see how it plays out. If you were to switch insurance companies, I can guarantee you that EVERY single one will check your record (as a new customer).

However, insurance companies rarely check their own members' records once they're insured. It just costs them way too much money to check every one of their members. Some used to about 15 years ago (one of my university buddies actually paid his way through university by working the night shift at Allstate running the batch processes that did the checks). However, most have stopped doing this for financial reasons (cost of each record check has gone up).

Just don't tell them anything, don't miss any payments and try not to get into any accidents

(I'm assuming your ticket, albeit major, is still only an HTA offence and not a criminal offence).

 

have you been convicted yet? if you paid the ticket already it will show up on your record.
if your still waiting for a court date then it wont be.

insurance companies rarely pull reports on current customers. only new ones. so you should be fine. but if you were to switch and get a new quote they will 110% pull reports.
my advise would be to not disclose the ticket and leave it, chances are they wont pull reports.

also if you really wanted to switch companies, switch after getting coverage with another. if you have one day without coverage its now considered a "gap" meaning all the years you have had insurance would go out the door and you would become a 0* driver.

 

Don't disclose anything, I just got a ticket this year and my renewal papers came in no increase so yes if your tell them or switch companies your premium will go up. If they do find out they will send you a letter giving you so many days before they cancel usually 15-30 days notice and they will send you it to you with registered mail so they know if you got it.