k so my husband bought a new car on Saturday (06 for tauras froma dealer) He got insurance threw Geicko.com had the insurance for like less than 24 hours (it was his first time with insurance) He crashed the car yesterday...... :( my question is Do you think his policy will go up THAT much in price for the year? How does something like that work when the insurance is so New?
2007-08-13 03:49:25 · 6 answers · asked by Anonymous in Business & Finance ➔ Insurance
There are a lot of factors that come into play here. Was the accident his fault, is the damage over $1000. Has he had many accidents in the past, how about tickets.
If the damage is less that $1000 or it wasn't his fault you have nothing to worry about.
If the damage is more, and the accident is his fault, and it was his first you still should be ok. They normally forgive the first one, no matter how new the policy is.
The most they can surcharge for any one accident is 10%.
2007-08-13 04:13:23 · answer #1 · answered by Anonymous · 1⤊ 0⤋
I really expect it to at least double
But I only pay $189.00 per six months for my 1996 Lincoln Town Car in FL
I HAVE AN IMPECCABLE DRIVING RECORD FOR OVER 44 YEARS
They have some weird policies as far as divorce and seperated people too
You must not / can NOT take your wife off your policy until it come up for renewal so she gats a free ride for a while on your dime
2007-08-13 11:08:27 · answer #2 · answered by Anonymous · 0⤊ 0⤋
They can't surcharge you until the policy renews. So it shouldn't go up AT ALL.
HOWEVER. In most states, an insurance company can cancel you FOR ANY REASON, the first 10 - 30 days the policy is in effect. So if they want to, they CAN cancel the policy, in most states, and THEN they can add the surcharge if you rewrite it through them. But WHOEVER you rewrite it with, is going to surcharge you ANYWAY.
2007-08-13 11:08:24 · answer #3 · answered by Anonymous 7 · 0⤊ 2⤋
The premium could go up if your lucky. The alternative is that the insurance company cancels the policy.
2007-08-13 11:03:13 · answer #4 · answered by James W 2 · 0⤊ 1⤋
Not really sure. I'm sure that claiming this quickly probably isn't good. It also has alot to do with age. If your older, 30 or above, it may not be a big deal. The cost will still increase, but maybe not as much as a teenager or young adult.
2007-08-13 10:57:18 · answer #5 · answered by Ron B. 7 · 1⤊ 1⤋
Amazing
2007-08-13 10:53:01 · answer #6 · answered by Anonymous · 0⤊ 3⤋
Ask any agent
2007-08-13 10:54:10 · answer #7 · answered by Anonymous · 0⤊ 3⤋