11-10-2009, 09:46 PM
(11-10-2009, 06:21 PM)SyberBitch Wrote:(11-10-2009, 02:29 PM)ramseycat Wrote: You had some bad years and let it lapse? As in your drove around without insurance? In the insurance world you are a bad risk. Your liability premium is high because you are considered a LIABILITY. Your insurance company doesn't want to be on the hook for an accident during one of those times you "lapse" in your payment.
Bullshit, Ramsey!
If I were in a period where my insurance were 'lapsed' I *wouldn't be covered* - so what's their fucking risk? I've been driving for 23 years and never had an accident. Not one. It's just a bullshit excuse to make more money.
You're right, you probably wouldn't be covered. Unless, it was during the grace period where you are late on your premium but have not actualy been cancelled yet. And while you were driving around with your insurance lapsed and you slide on the ice and t-bone another car in an intersection, THEIR insurance has to pay for their vehicle AND the injuries they sustain. I have a case like that now. So while your company doesn't have to pay because you lapsed, the other guys does. And sliding on the ice is still your fault because you are going to fast for the conditions. That is traffic law, not my personal opinion. The insurance companies also use your credit rating in determining your premium. And maybe I am wrong in our case, but usually when your insurance lapses, it's not because you cancelled the policy. It's because you didn't pay your bill. Again, frowned upon by the underwriters.
Devil Money Stealing Aunt 