As Insurnace professinals we like to inform our clients. We have noticed that the majority of our clients who need an SR22 don't quit understand WHAT it is or WHY you need it. In this Blog I will briefly explain the purpose of the SR22 Why you need it and how it works. You can get your license back and get on the road!
What is a SR22 form?
In a nutshell “LIABILITY INSURANCE “ California Insurance Proof Certificate, SR-22 form is the mechanism in California use to monitor the status of your insurance policy and authorize the DMV to suspend upon cancellation (SR-26) or expiration of that policy. An SR-22 is a certificate issued by an insurance company and kept on file at the California Department of Motor Vehicles. This document is a guarantee that at least the California required minimum liability $15000, $30000, $5000 coverage has been obtained by the respective person.
The conditions of this form
The insurance company will notify the DMV if the insurance coverage should lapse or be canceled for any reasons. If this should happen, California DMV will immediately issue an order of suspension. Proof of insurance by way of SR-22 must be maintained for a period of three years (from the date the original 4 month suspension would have been up). As long as proof of insurance stays active you will not need to resubmit another SR-22 form.
Compare SR-22 Auto Insurance Rates
Since you are going to have your SR-22 insurance for a period of three years, it is important to find the cheapest policy you can before choosing one. Epitome Insurance Solutions, Inc has partnered with the largest and most trusted SR-22 insurance providers in the state of California in order to offer you the best and least expensive options available. Comparing quotes is the best way to get the coverage you need at a price you can afford.
http://epitomeinsurance.com/
Showing posts with label INSURANCE. Show all posts
Showing posts with label INSURANCE. Show all posts
Friday, September 23, 2011
Saturday, December 18, 2010
The 2 Dirty Words in Insurance ...
Well it's time to talk about those dreaded dirty little words of the insurance industry. That when mention, it could end a deal before it even begins “The Broker Fee”. What is a Broker Fee? A Broker Fee is a non regulated fee that only your insurance broker can charge for writing your insurance policy. The reason for a broker fee is simply a service charge. Think of it this way, when you go get your car looked at for a tune up they have an inspection fee, just to see what’s wrong with your car. When you change your oil they charge a service fee, Plumbers have estimate fees, there is start up charge for cable Etc. Broker Fees are just that! A fee you pay for a service rendered.
So why is the broker fee so bad in insurance? Well it all depends on how much it is. The Broker Fee is a little tricky because it really is up to your insurance agent how much to charge you. A lot of brokers these days try to hide this fee because they know that it is NOT very appealing when your insurance is only $350.00 a year for a basic liability plan and your Brokers Fee is $300.00. That by the way has to be paid up front. Does that seem a little unreal to you? Well believe it because hundreds of people really do pay up wards of $300.00 to $500.00 in broker fees. From a sales point of view there is an acceptable reason to charge a fee. Some insurance brokers are taking advantage of the fact that they can charge what ever they like. Here are some tips to make sure you are getting a fair price for what you’re buying.
First look at what kind of insurance policy are you buying? If it's the basic liability required by law an acceptable fee would be around $50.00 to $65.00. When you need more coverage such as full coverage uninsured motorist then you can expect to pay $70.00 to $85.00. Commercial Insurance, depending on what kind of business you have the fees are a bit more. Between $100.00 and $250.00. These are not standard fees that every insurance company uses. How ever they would be more acceptable for the services that an insurance broker will be doing for the life of the policy. Second if you have a bad driving record you can expect to be charged more. A bad driving record means you are a high risk to insure and more likely to cost the company a lot of money in claims. Last if you are a good driver ask to be put with a preferred carrier such as Mercury, Safeco, or Travelers. Preferred companies DON’T charge broker fees.
Now the next time your going to buy insurance and you seem to be paying a bit too much to start the policy ask your agent what the broker fee is, you can also ask to see the Broker Agreement. Every insurance broker should have a broker agreement that you sign. It should list any and all fees that the broker charges for services. Please try to remember as well that your broker will be servicing you for the life of the policy and a fee is acceptable. Just make sure it is one that you are comfortable with and reflects the kind of policy you will be purchasing.
So why is the broker fee so bad in insurance? Well it all depends on how much it is. The Broker Fee is a little tricky because it really is up to your insurance agent how much to charge you. A lot of brokers these days try to hide this fee because they know that it is NOT very appealing when your insurance is only $350.00 a year for a basic liability plan and your Brokers Fee is $300.00. That by the way has to be paid up front. Does that seem a little unreal to you? Well believe it because hundreds of people really do pay up wards of $300.00 to $500.00 in broker fees. From a sales point of view there is an acceptable reason to charge a fee. Some insurance brokers are taking advantage of the fact that they can charge what ever they like. Here are some tips to make sure you are getting a fair price for what you’re buying.
First look at what kind of insurance policy are you buying? If it's the basic liability required by law an acceptable fee would be around $50.00 to $65.00. When you need more coverage such as full coverage uninsured motorist then you can expect to pay $70.00 to $85.00. Commercial Insurance, depending on what kind of business you have the fees are a bit more. Between $100.00 and $250.00. These are not standard fees that every insurance company uses. How ever they would be more acceptable for the services that an insurance broker will be doing for the life of the policy. Second if you have a bad driving record you can expect to be charged more. A bad driving record means you are a high risk to insure and more likely to cost the company a lot of money in claims. Last if you are a good driver ask to be put with a preferred carrier such as Mercury, Safeco, or Travelers. Preferred companies DON’T charge broker fees.
Now the next time your going to buy insurance and you seem to be paying a bit too much to start the policy ask your agent what the broker fee is, you can also ask to see the Broker Agreement. Every insurance broker should have a broker agreement that you sign. It should list any and all fees that the broker charges for services. Please try to remember as well that your broker will be servicing you for the life of the policy and a fee is acceptable. Just make sure it is one that you are comfortable with and reflects the kind of policy you will be purchasing.
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