AUTO INSURANCE ARTICLE
Must Tickets And Accidents Be Mentioned When Getting Car Insurance?
By: mindifFailing to report tickets and accidents for insurance coverage is considered a criminal act. Not reporting these types of events is intentionally committing fraud against the insurance company that is going to cover you and your auto. After all, the whole purpose of not mentioning tickets or accidents is to receive a lower rate on your car insurance.
Car Value Decreases with Accidents
Car accidents will automatically lower the value of your car. Failing to report an accident, flooding or fire damage to an auto is makes the car insurance company willing to pay-off a higher amount for full-replacement auto insurance coverage or pay-out a higher amount for collision and accident coverage. You end up with the lower rates with the higher dollar amount of benefits. This is car insurance fraud and a prosecutable offense.
Car Accidents Make You a Higher-Risk
You are a higher-risk client if you have been in car accidents. Even if the car accident wasn’t reported as your fault, the car insurance company will value you as a high-risk client. Your driving behaviors put you at risk for an accident. You might drive in high-traffic areas, speed or drive numerous miles to put you at a greater risk to be involved in an auto accident. Failing to report this information to the car insurance company will give you lower insurance rates, but is illegal.
Tickets and Accidents Listed with the DMV
The Department of Motor Vehicles will automatically report tickets and accidents with the state’s DMV. The car insurance companies just need your license number and date of birth to access these public records. Failing to report accidents and tickets will not keep you protected. The auto insurance company will find out that you failed to report and drop you from their coverage. They might even prosecute, if they think you failed to report intentionally.
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