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Read MoreDemystifying Insurance Surcharges: What Policyholders Need to Know
INTRODUCTION
Understanding Insurance Surcharges
An insurance surcharge is an additional charge that an insurance company may apply to your premium based on specific circumstances. These circumstances are usually related to risk factors associated with the insured person or property. Surcharges can lead to an increase in your insurance premium, making it important to grasp why and when they might be applied.
Reasons for Insurance Surcharges1. Driving Record
2. At-Fault Accidents
3. Traffic Violations
4. Insurance Claims
5. Inexperienced Drivers
6. Insurance Fraud
Impact on Premiums
Mitigating Surcharges
1. Safe Driving
2. Defensive Driving Courses
3. Bundle Policies
4. Claim Avoidance
CONCLUSION
Understanding insurance surcharges is a crucial aspect of being an informed policyholder. By comprehending the reasons for surcharges and their potential impacts, you can make proactive decisions to maintain a favorable insurance premium. As your trusted independent insurance agency, we’re here to guide you through the intricacies of insurance and help you find the best coverage options for your needs. Feel free to reach out to us with any questions or concerns you may have about insurance surcharges or any other insurance-related topics.
Sablich Insurance Group is licensed in both Pennsylvania and New Jersey.When’s the Right Time to Invest in Life Insurance
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Ambler, PA 19002 - 215.402.7021
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