What is the most police can do or insurance company if i insure a motor beside the wrong age?
i would like to know what would happen if i insure a saloon say am 20 and insure myself as 30 years old (much much cheaper) what would the insurance company do if they find out and also if the police find out when i obtain pulled over in the roadside?
is it fraud? what will happen to my license? fines? court?
Answers:
Well first, that is insurance fraud. You are fraudulently misstating your age to wage a reduced premium. Second, if you don't think the insurance company would verify your information with your drivers license info - you are dumber than a backpack of doorknobs.
Let's say the insurance company didn't find out immediately and you impose an accident. Then they learn you lied give or take a few your age. Guess what? You have no insurance coverage.
Your insurance company will deny coverage if you have an catastrophe due to fraudulent statements on your application. As long as you don't have an accident, the insurance company will verbs to take your premium payments and make money bad them. Upon having an accident, they will deny coverage. You might bring back your current premiums back, but don't count on it.
Police won't care until you enjoy an accident. Then upon learning you be denided coverage for misstating your age, you'll have to deal next to uninsured motorist charges. Expect license revocation, stiff fines pluss added costs to get your license reinstated, more expensive insurance coverage (SR22) later. These costs could very well exceed $3k-$5k in some states.
It's much like clich¨¦, "It's not a crime until you're caught." Then when you're caught, it's time to pay the piper.
You're kid right? You think that a company will just lift your word for it that you are 30? You don't think that they run a license check at dmv?
Fraud for sure!
You would not have any coverage contained by case of an accident.
It is not worth it Source(s): adjectives sense
Related Questions:
is it fraud? what will happen to my license? fines? court?
Answers:
Well first, that is insurance fraud. You are fraudulently misstating your age to wage a reduced premium. Second, if you don't think the insurance company would verify your information with your drivers license info - you are dumber than a backpack of doorknobs.
Let's say the insurance company didn't find out immediately and you impose an accident. Then they learn you lied give or take a few your age. Guess what? You have no insurance coverage.
Your insurance company will deny coverage if you have an catastrophe due to fraudulent statements on your application. As long as you don't have an accident, the insurance company will verbs to take your premium payments and make money bad them. Upon having an accident, they will deny coverage. You might bring back your current premiums back, but don't count on it.
Police won't care until you enjoy an accident. Then upon learning you be denided coverage for misstating your age, you'll have to deal next to uninsured motorist charges. Expect license revocation, stiff fines pluss added costs to get your license reinstated, more expensive insurance coverage (SR22) later. These costs could very well exceed $3k-$5k in some states.
It's much like clich¨¦, "It's not a crime until you're caught." Then when you're caught, it's time to pay the piper.
You're kid right? You think that a company will just lift your word for it that you are 30? You don't think that they run a license check at dmv?
Fraud for sure!
You would not have any coverage contained by case of an accident.
It is not worth it Source(s): adjectives sense
Related Questions:
- Can you collect from two different insurance companies?
- How long can it lift for a summary result within an insurance claim where on earth the insurance company is stalling?
- Why is My former strength insurance company doing this?
- Why is it so strong to find an insurance company that covers asphalt tile roofs? Aviva are the simply ones!?
- If my spouse have an calamity can the insurance company come after me for?