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do insurance companys jack the out of your rates?

 
Rep Power: 727

probably ... there must have been a reason why your policy got cancelled and when the new insurance company sees it, they'll assume the worse, and you'll get raped through a lovely rate hike

 
Rep Power: 714

yes... when you get cancelled you have to go on facility insurance. no if's and's or but's. sorry bro.

 
Rep Power: 723

Actually that's not true, I've been cancelled twice by insurance companies, two different ones, I can still get insurance, the only condition is that you have to pay all of it upfront, some companies may let you may half upfront but most will ask you for all of it.

and yes, there is an increase, my insurance went up maybe $50 a month after each cancellation, it's not as bad as most people think.

-Arslan

 
Rep Power: 714

thanks for the info bro :thumbsup I'll keep it in mind (but hopefully I'll never need to use it again!)

 
Rep Power: 721

I actually spoke to my broker about this as it happened to me once (wasnt really my fault but oh well) I was told that if it has only happened once that it's not really a big deal, but twice and then you have to pay upfront and it limits the number of insurance companies that will take you. I still pay very reasonable rates, and its on a monthly payment plan.

 
Rep Power: 721

Who is your insurance company?

 
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My last payemtn didnt go through because my bank took $40 in service charges so it came up NSF.I read my policy disclamer and it says i will receive a notice in the mail with a total i need to pay and they will re-instate the policy.Its a little hard to pay a 8k a year policy up front lol.

 
Rep Power: 723

The last insurance company that I was with was ING, but at this moment I'm in the middle of switching cars, so no insurance.

That's just a warning, they will charge you the balance you owe(the cheque that bounced) and they will also ask for this months amount, and there might be a nominal charge for the NSF ($15-$30), but if it happens again, they will cancel it. Oh and I don't think this effects you insurance records at all.

-Arslan

 
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THANKS FOR THE HELP,i am with NORDIC myself a diviton of ING.

 
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^^ same here... the seem slow as but w/e im just payin for the slip.. i have no intetion of ever filing a claim myself unless i have to