There are those concerned about how demerit points affect them. They want to know how they can affect one’s insurance premiums. Plus, they’re surprised to discover that there is controversy about this. Some call it a myth that demerit points effect insurance rates. Others are of the opinion that demerit points are going to increase their premiums. So which is true?
Others look at the specific number of accumulation of demerit points that they have. There are some that have accumulated three points. They want to know if this is going to affect their insurance. And if so by how much.
Demerit Points Fact or fiction
There are some reports that say that demerit points do not affect the insurance rates. They say the effect comes from what the ticket classification is. It’s based on whether the ticket is a minor or major or even criminal offence. So what some are saying is that it is the classification that affects the premium. Such as any infraction that comes under a minor category. It would affect the insurance premium in the same way. There are many different insurance companies. They each have their way of determining what is going to affect their premiums. They do this within the regulations that they must follow.
Demerit Points Accumulation
In Ontario, there is a set criterion that’s used for disseminating demerit points. It’s on the speed that the driver is travelling when caught. For speeds over the speed limit of anywhere between 1 km to 15 km, there are no demerit points.
For speeds from 16 km to 29 km over the speed limit, this will create a three-point demerit assignment. So, what is the increase in the insurance rates for this three-point accumulation?
Looking At Three Demerit Points
An insurance company may look at these specific demerit points. To see what driving infractions they pertain to. Three-point accumulation can apply to many different types of driving infractions. Aside from speeding. It can be an accumulation of different infractions. Such as when a driver fails to obey a traffic stop or slow sign. Or even the failure to ignore the directions that a police officer is giving. The three demerit point accumulation is going to put the driver into the minor category. As these categories pertain to the insurance companies.
It may be that insurance companies are going to view this differently. It may be that one insurance company will just take into account that there are three demerit points. As they come under the minor category. If so then they may have a set premium increase that applies the category itself. So, not for the specific offence. Then there may be insurance companies that delve into it further. They may want to know what specific infraction the demerit points pertain to. They may base their opinion on the specific infraction instead of the category.
Getting Past The Confusion
It means looking at the viewpoint of different insurance companies. It is when it comes down to the confusion about whether demerit points play a major role or not. The insurance company is not going to ignore minor convictions. A minor conviction can cause the accumulation of demerit points.
Minor Conviction Protection
Some insurance companies are now offering minor conviction protection. Those that want this protection will pay a little bit more for their premiums. Then when they do receive their first minor conviction, it will not count against them. One needs to study this type of protection. They need to determine whether the extra they’re paying would be worth it. They have to have a better understanding of minor convictions. I the way their insurance Company views them. Also, they need to know what weight the demerit points themselves hold with the company.
The minor conviction option as extra protection may have some benefits to it. Especially when one is looking at the convictions. As to the way they remain on the driving history for a specific period.
Getting the Best Insurance Deal
To get the best deal on insurance, it means knowing something about it. Quite often those buying insurance will only focus on the best rate that they receive. They do not explore further the perception that the insurance company has. At least when it comes to some of the common infractions.
Insurance shoppers should begin by getting a selection of insurance quotes. They can choose from those that appeal to them the most. They can do further research on the companies offering them. By asking the right questions, one becomes much more educated. They can value what they are getting with the premium price offered. Questions can only be asked if there is some basic knowledge to start with.
A Simple Starter Questions About Three Demerit Points
There is a simple question to ask the insurance companies. Such as how the insurance company would perceive three demerit points, for example. The answer to this question is going to give a lot of insight to the insurance buyer. They will learn if the insurance company is emphasizing the demerit points. Or are they emphasizing the categories such as the minor infraction category? It can help them determine how forgiving the insurance company is going to be for infractions. Which will give some sign as what the increase would be for the three demerit points?
Shopping for insurance should not be something taken lightly. Drivers should not just assume that every company is going to offer the same premium. There are going to be variations. It is because of the way they perceive the information they gather from their clients. The initial price of the premium is going to be important. But also just as important is what is going to happen in the future. Should there be any different type of infractions that are going to affect the demerit points.
Drivers need to look at all aspects that are going to affect their insurance premiums. No matter what demerit points are not good to have. If they accumulate too high they can affect the driver’s licence.