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What is an insurance surcharge?

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Wiki User
2011-04-08 17:00:09
2011-04-08 17:00:09
Insurance Surchargesa Surcharge is somthing you are being charged extra for because of a specific reason or risk... such as a Surcharge for underage drivers, or a surcharge for a Wood Burning stove... they burn alot of houses you know... ya.. so its just an extra charge they give you to insure you.

Here are some examples on Auto Insurance Polices

Undisclosed Household Drivers Surcharge

Undisclosed Tickets Surchage

Young Driver Surcharge

Inexperienced Driver Surcharge

High Risk Driver Surcharge

High Risk Vehicle Surcharge

Modified Vehicle Surcharge

Happy Motoring

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Usually there is no surcharge, but check your policy for the trampoline exclusion. Most companies do not want the exposure, but if there is no exclusion the coverage is there.

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Because if you don't you will be paying nothing for your bill . If it is overdue.

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The premium surcharge would generally be administered by the insurance company for loss history, high risk businesses, condition of premises, etc. If you would like to check with the department of insurance for your state, they may be able to answer your question in greater detail.

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The surcharge is part of the bill and I imagine your policy would get canceled if not paid in full eventually. If it does get canceled you will find it difficult to get insurance through another company and they can ding your credit for non payment but usually that take a few months depending on the company.


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