Hey all, I have an insurance question:

Does anyone here insure their S2k in a different zip code than they actually live in?

This is an issue because my Integra has been insured with my parent's Northern Cal. home as the primary residence, although I have been residing in So. Cal. Now that I'm looking for an S2k, the difference in premiums between the zip codes is rather high ($900/yr) and people have told me to just insure the S2000 at my parent's house, even though I live in So. Cal.

Does this constitute insurance fraud, or is it kind of a "everyone does it / don't ask don't tell" thing, like the 65 mph speed limit? Are there any insurance company workers here who can positively confirm or deny if an insurance company will investigate on this?

Thanks a bunch!

 

I would venture to say that while it may not technically be defined as "fraud", it is probably not a good idea unless perhaps you are in college (even then that could be sketchy).

God forbid anything serious happened to the car and you needed to make a claim the insurance company may want to know why you were in S.Cali to which you would have to lie. That could become a bag of worms that could leave you without insurance and worse yet a dropped/denied claim.

If you can't afford the proper insurance than you prolly shouldn't be looking into getting this car just yet. Just my .02 cents.

Craig

 

Insured in 55427, live in 55803. It can't be too bad since my agent told me to do it this way in order to save a few bucks a month.

 

its not fraud... however it could cause a problem if something DOES happen while your in SCAL and try to file a claim because your car wasn't supposed to be there...

 

Ha ha ha... I KNEW this was going to elicit a "maybe you can't afford the car" response. The very fact that I'm already knee deep in insurance quotes shows I'm aware of the costs involved.

That's not the issue. It boils down to this: If there was a way you could save $900 a year, I think everyone on this board would consider it, especially if it's acceptable. I for one have already spoken with an insurance agent who says "we never check, and we won't call you a liar."

I was just wondering if anyone here could back this up or warn me otherwise based on personal experience.

 

and yes. i did the same thing before..

no problems. jus saved some money.

 

It is submitting false information and could be grounds for a denial of coverage should anything happen but it is unlikely that would ever be the case. I don't recall ever denying a clain due to a garaging location issue, it's just frowned upon let's say.

 

[QUOTE=S2kracka,Apr 26 2005, 05:26 PM] Insured in 55427, live in 55803.

 

I work for an insurance company. Insuring your vehicle in a zip code other than the one you live in isn't really fraud, it is considered misrepresentation and could lead up to a denial of a claim or cancellation of your entire policy. Alot of insurance companies, like the one I work for will generally let a claim slide for misrepresentation and just update your garaging zip code for you(and charge you more $$). They may not let the claim slide if you provided them with a fake proof of address or were warned about providing correct garaging information previously in which cases would be considered fraud and you could be criminally charged. Some states take this more seriously than others, New York especially.

In any case, please provide accurate information to your insurance company. One thing many people don't understand is that providing false information to your insurance company to save some money now is costing us all more in the long run.

 

No problem