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What is an insurance surcharge?

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Wiki User

βˆ™ 2011-04-08 17:00:09

Best Answer
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

2011-04-08 17:00:09
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Related Questions

Does every car insurance company surcharge you for a DUI?


What is the surcharge on your homeowners insurance for a trampoline?

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.

Why do you have to pay an insurance surcharge?

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

Which States include a premium surcharge on commercial line insurance?

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.

Not paying insurance surcharge will it effect your credit score or will the insurance policy just simply be cancelled?

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.

Can an insurance company in NJ continue to charge a surcharge for an accident even if insurance points were reduced to 0?

Get proof from the vehicle department and drop it on your broker's desk.

Is an insurance company allowed to charge a new customer an additional surcharge on their policy because they were with their last insurance company three years instead of five years?

Yes, however, it is not an actual surcharge. Prior insurance is a rating factor and determines what rating tier you are put into. It can be based on time with the other company, your bodily injury limits with the other company and if you've ever had any lapses in insurance.

What does it mean Breakfast available surcharge?

available (surcharge)

Will the insurance companies add step points to your insurance if someone hits your car and leaves the scene?

No there is no surcharge on a hit and run accident but your deductible still stands. thanks for the question

What is YQ surcharge tax?

The YQ "tax" is not actually a government imposed tax but an airline surcharge. Typically, the YQ "tax" includes a security surcharge and/or a fuel surcharge.

How do you spell surcharge?

That is the correct spelling of "surcharge" (an added fee).

What diseases can keep you from getting life a insurance policies?

Send in an application and see. You might get the policy at standard pricing or maybe a surcharge.

Will a DUI show up in insurance?

Assuming you mean car insurance, without a doubt the answer is yes. You will likely face what is known as a 'surcharge' meaning your rates will increase, just as if you had an accident. If you homeowner's insurance, that depends on the state, but the answer is most likely "no".

Can an insurance company still charge you a surcharge or increase your premium if you get a speeding ticket reduced to 0 points in NJ?

Yes. There is a difference between driver's license points and insurance points. Anything that is on your MVR can raise your insurance rates.

What to do if you received a ticket for no insurance in san antonio tx?

If you were in fact driving without insurance you will need to buy sr22 insurance. A conviction fro driving without insurance will incur a fine, an sr22 filing requirement and a state 3 year annual surcharge in order to keep your license.

Difference between heavy lift surcharge and long lift surcharge?

The difference between heavy lift surcharge and long lift surcharge is the size of the cargo. Long lift surcharges are applied when the length of the cargo exceed the rules. Heavy lift surcharge is when the weight of the cargo exceeds the going rate.

Will my insurance increase if my car was in an accident but i wasn't the driver. I lent someone my car and they got into an accident in my vehicle.?

If your Insurance company paid the claim then yes they can surcharge you for any chargeable accidents they paid out on your policy.

Is there any new jersey car insurance for drivers with dui?

You can get a normal insurance policy if you have been convicted of DUI in New Jersey. You however, will also be charged a surcharge of $1000 a year for a total of 3 years.

You got a speeding ticket but in Connecticut you get no points for that will your insurance go up now?

If the violation shows on your drivers transcript, the insurance company has the ability to charge a surcharge points or not. Not all motor vehicle violations carry points.

Can you give me a sentence of surcharge?

Here is one sentence using the word surcharge. 1). You will pay the surcharge on the amount of tax not paid within 28 days of the due date.

How do you use the word surcharge in a sentence?

There is a surcharge added to the hotel prices, essentially a hidden tax on visiting tourists. A surcharge on ticket prices helped to pay the cost of the new arena.

If you receive a speeding ticket will the insurance on the car increase?

It depends if you receive points on your license or not. No points really doesn't affect the insurance rates, but rates will increase if you receive points on your license.AnswerYes, a speeding ticket will most likely increase an insurance policy. Every year at renewal the motor vehicle report is run. If there is a ticket, the insurance company has the right to surcharge the policy (upwards of 15%) because of the ticket. The charge will depend on the severity of the ticket and it will only be applied at renewal. The surcharge will remain on the policy for three policy years.

What is surcharge on vat?

A surcharge fee is an extra cost added to a fee that the consumer is already expected to pay. Surcharge fees are imposed for a variety of reasons including fuel costs, services, travel time and equipment use. A surcharge may fee be a flat rate or calculated as a percentage of the original bill.

If you go to traffic school and your speeding ticket is removed from your record will the insurance still go up?

Depends, if the insurance company reviews your drivers transcript before or after the citation has been removed. Also, check with your agent and read your policy. There may be a stipulation in there that states they can charge a surcharge for a extended time period after the violation occured. Or, if you can show that you went to traffic school and the points have been removed perhaps the company will remove the surcharge.

How many points on your license to receive a NJ surcharge?

In NJ you will get a surcharge after your 6th point has been added to your driving history