Reader’s Question:

Can somebody tell me what the primary risk factors are of insurance in Fort Worth, Texas and why are they so important?

John

Fort Worth, TX

Fort Worth, TX insurance companies permitted to set up their own car insurance rates and do so by using certain risk factors to determine the driver’s car insurance rate. These factors are important since statistically they can assist determine those drivers that will be more of a risk for an insurance company and therefore their insurance rates will be higher. The factors are important for a policyholder or motorist to know so that they know on what criteria their car insurance rates are set.

Risk factors assist insurance carriers determine the car insurance premium rates as accurately as possible. Theres a lot of risk factors. Here are a some of the primary factors that most insurance providers use:

• Age
• Gender
• Marital Status
• Geography
• Driving Record
• Claims History
• Occupation
• Education
• Vehicle Type
• Miles driven each year
• Years of driving experience
• Type of vehicle use (business, personal, commuting, etc.)
• Current insurance and current insurance limits

Tags: auto insurance, high risk insurance

Reader’s Question:

My ex-wife and I leased a vehicle together in Fort Worth Texas. She was the co-signer and she is the primary motorist. The vehicle is insured under my name. If I drop the vehicle from my insurance policy, will I be held liable if there is an accident when she is driving? Does the vehicle have to be insured under my name since the lease is in my name and she is a co-signer?

Candice

Fort Worth, TX

If your wife does not have insurance on the car and got involve in an accident, it is likely that you could be held responsible because you are on the lease with her. As a signer on the lease you are liable for those that operate the vehicle and what happens to the car while they are driving, this is called vicarious liability.

In addition, if the car is registered under your name and there is a lapse in the car insurance it will go on your driving record. The penalties for a lapse in auto insurance differ on state laws but can include losing your suspension of the license plates and driving privileges to name a couple.

You may contact the insurer in Fort Worth Texas which you leased the car through to check if the insurance needs to be under your name or if you can cancel your auto insurance on the car if your wife puts the proper insurance on it and has the vehicle registered in her name.

Make sure that the leased vehicle has enough insurance on it so that you and your assets are not at risk if the car is in an accident.

Tags: auto insurance, automobile

Reader’s Question:

Can I purchase a vehicle from a dealership if my license is suspended in Fort Worth, Texas?

Wes

Fort Worth, TX

You possibly could be able to buy a vehicle from a dealership with a suspended license in Fort Worth, Texas. It would depend on the guidelines of dealership and your Texas state laws. For example in some states you may be allowed to purchase and register a vehicle without a license while in other states laws might dictate that you cannot.

Most states including Texas require you to have proof of insurance when you register a vehicle and if you do not have a valid license it is normally difficult to find auto insurance. You can contact your state’s DMV to find out if your state has laws regarding purchasing a vehicle while having a suspended license.

Tags: auto insurance, Driving without License