Does Insurance need to know about speeding fines?

Deadman · 04-12-2005, 11:39 AM

I *might* have been snapped doing 108km/h or so (was on cruise) in a 100km/h zone on the freeway today..

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I was just curious for the future (haven't had a fine in my 6 years of driving yet) - if you get a speeding ticket - does your insurance company need to know about it (and if so - do they alter the premiums much?). I know it'll only be 1 demerit point (if I do get a fine) as I was well under "13km/h over the limit".

I'm with RACQ (RACV etc etc for different states). Any info would be appreciated.

Casper · 04-12-2005, 11:42 AM

yes, they do. Although its not MASSIVLY inforced.. they do need to officially know.
In your case, tell them, they will note it down, they will not raise your premium or cancel you or anything... and you are 100% covered etc in case you do have a claim.

Deadman · 04-12-2005, 11:48 AM

Awesome. Thanks Casper.

Casper · 04-12-2005, 11:51 AM

Wish I only had 1 point off my license!

Gilesie · 04-12-2005, 11:56 AM

Tell them
I recently insured my AU through RACV and they made a point about speeding fines and the fact that if I was not truthful they had the right to cancel my insurance.

XA-Coupe · 04-12-2005, 12:04 PM

yeah, tell them because should you have a claim and they will check.. should you have something they haven't heard about.. your insurance vapourises.

Deadman · 04-12-2005, 12:09 PM

cheers. that's what i thought might happen.

ta

well, just fingers crossed now I don't even get a fine

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MITCHAY · 04-12-2005, 12:18 PM

I know you're obligated to tell them when you renew your policy but I don't know if you are before then.

brenx · 04-12-2005, 12:22 PM

Your supposed to tell them. I never have. My driving record shows I get one 3pt speeding fine every three years. I'm due for my next one in either Feb/Mar 06 or 07. I've only ever had an at fault accident once in 12 years. I put it down to lack of experience. I hadn't had my licence or the car very long.

Penelope Pitstop · 04-12-2005, 03:57 PM

Traffic Infringements are of no great concern to most insurers unless it results in a suspension or cancellation of license. By all means let RACQ know as part of your obligation to disclose but I can assure you they will not care and more than likely will not even note it down.

Cheers, Tori

gozza · 05-12-2005, 10:13 AM

i thought they pay to use the police database..so they can look up anything they want...but it could be vise versa

LTDHO · 05-12-2005, 10:16 AM

Quote:

Originally Posted by gozza

i thought they pay to use the police database..so they can look up anything they want...but it could be vise versa

Nope. Extra claim cost.

You have to tell them everything, look for the magic word in your policy 'disclosure'.
I means if you don't tell them they may cancel your claim

deesun · 05-12-2005, 10:19 AM

Check your policy,read the fine print or ring them and find out. Some companies ask at renewal or when you apply originaly but it should be on your policy if they need to know. EMAIL is free so email them,theres no hurry.

XplosiveR6 · 05-12-2005, 10:33 AM

Quote:

Originally Posted by gozza

i thought they pay to use the police database..so they can look up anything they want...but it could be vise versa

definately not, that would be highly illegal, no one, other then you, the police or the courts are able to see your own police records, it is highly personal information. The only way for the insurence company to see your records is if you give permission.
insurence companys want any excuse to up your premiums

brenx · 05-12-2005, 10:47 AM

When you sign up for insurance some have you sign a disclosure form or it's within the documents that you okay them to look at your past driving history.

A bloke I used to work with got done that way. He owned a Merc and a commodore pulled out infront of him. Insurer cancelled his insurance and left him owing $20,000.

deesun · 05-12-2005, 11:24 AM

On my NRMA policy page 2 it states,
Your duty of disclosure.
Your DOD requires you to tell us everything you know which is relevent to our decision to insure you and the terms and conditions on which we insure you. A matter is relevent if you know it is relevent or a reasonable person in the circumstances would know it is relevent.

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The duty applies before we accept your proposal and also when you renew,vary,extend or reinstate a policy of insurance.

Details of insurance and driving history for each insured must be listed. We need to know their driving history including accidents and traffic offences, their insurance history and any criminal convictions in relation to fraud arson,theft or burgulary and criminal or willful damage.
I would expect this would say the same thing on your RACQ policy.

Mark351 · 05-12-2005, 11:39 AM

It doesn't have a financial impact as has been stated (and to be honest, very little does - the last few months I've spent developing auto finance/insurance systems has taught me an AWFUL lot...), insurance companies just look to every avenue possible to void your insurance.

05-12-2005, 11:49 AM

i never tell them anything in the united states they actually check

Bodat · 05-12-2005, 12:52 PM

Under the insurance's contract act, you only need to disclose this information at New Business or upon renewal.

Disclosure pretaining to a driver's driving history can only be applied by an insurance company at renewal. So if you tell them mid term, they can only apply the information to their underwriting rules at renewal.

An insurance company can only decline a claim based on your non-disclosure of a traffic infringement if they can prove that your non disclosure prejudiced them, ie under their underwriting rules, the knowledge of the traffic infringement would have made you an unacceptable risk.

Many companies are moving away from individual traffic infringements and towards 'loss of licence' infringements instead.

Hope that helps.

Bodat

hamo · 05-12-2005, 12:57 PM

Just Cars only asked me if i had any suspensions, didn't say anything about other fines

Deadman · 05-12-2005, 02:17 PM

Thanks heaps everyone

Very useful information. I am still waiting to even see if I get a fine - but the idea when I thought of my first speeding fine was just "S**T - my premiums are going to go through the roof" etc- you know, usual over-reaction to this type of thing when it happens for the first time.

Nerves are calmed and the info from everyone has been really appreciate

Thanks very much :eclipsee_

vztrt · 05-12-2005, 02:19 PM

Quote:

Originally Posted by Deadman

Thanks heaps everyone

Very useful information. I am still waiting to even see if I get a fine - but the idea when I thought of my first speeding fine was just "S**T - my premiums are going to go through the roof" etc- you know, usual over-reaction to this type of thing when it happens for the first time.

Nerves are calmed and the info from everyone has been really appreciate

Thanks very much :eclipsee_

If it's a fine under 10km/h or less the insurance companies don't care. Well that's what I was told when fixing up my mums insurance.