Please explain why there is even such a thing as a surcharge. How do insurance companies get away with applying surcharges to policy holders when the policy holder is an accident. Why is there a surcharge or an increase in your premium when you have an accident? Isn’t that the purpose of the premiums you have been paying all along for? Insurance companies like to take your money but as soon as you submit a claim, they hit you with surcharges and higher rates. How and why are they allowed to get away with this? Please explain, because I don’t get it.

Published by Car Insurance Questions and Answers on Mar 31st, 2007 in Uncategorized with No Comments
A surcharge is an insurance increase that is based on the state regulations of the state you reside in and the insurance company's rating system which is filed with the state's insurance regulator. In most states insurance companies are allowed to compose their own rating syst...

Tags:

« What are the names of some auto insurance companies who will insure my car for delivery employment purposes? For example pizza delivery, newspaper delivery, etc.
In the state of Oklahoma is Uninsured Motorist required coverage? »

Comments are closed.