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Inaccurate DMV Reporting is Costing Consumers Millions of Dollars(April 03, 2013)
(PRWEB) April 03, 2013
Your driving record is a big part of how insurance company rates are determined. Put simply, the more tickets, accidents and claims you have on your record, the more you can expect to pay for car insurance.
Car Insurance companies make millions off consumers paying higher premiums then they should, due to errors existing on their driving record that have gone uncorrected.
Just How Big a Problem is it?
According to the Federal Trade Commission 1/5 of consumers have errors appearing on their credit report. That would be roughly 52 million Americans. The FTC also notes that could lead to consumers paying more for auto loans and insurance. But what about consumers driving records, how many errors could there be? Turns out the answer is pretty close to the same.
A survey of driving records conducted by the Insurance Research Council (IRC) showed that one in five convictions for traffic violations may contain errors from motor vehicle records.
The IRC looked at driving records in four states, Connecticut, Florida, Ohio, and Washington. The study showed that convictions for driving infractions were either incorrectly entered or were missing from driving records. The error rate in the four states were as follows:
Connecticut - 22% of convictions errors
Florida - 21% of convictions errors
Ohio - 14% of convictions errors
Washington - 10% of convictions errors
How Much Could This Actually Cost Consumers?
According to Forbes depending on the violation, getting just a single ticket can boost an average policyholders auto insurance premiums by as much as 22 percent. The Los Angeles Times reports on average, the cost of an auto insurance premium in Louisiana was $2,699. Also Michigan ($2,520), Georgia ($2,155), Oklahoma ($2,074).
So even having just 1 error on their driving record in these states, could be costing consumers an extra $519 in higher car insurance premiums every 6 months.
Chris Evans,Chief Executive Officer of Quote44.com says," That number is a staggering amount to say the least. That's only looking at 4 states, were probably talking about millions upon millions of DMV reporting errors across the country when you really dig deep and look at all 50 states."
Chris further adds, "People need to shop their car insurance, but its time consuming and confusing by going to website after website. With us you can compare 44 companies for car insurance and more within 5 minutes. There really is nothing else like it online today".
What is Driving Record Repair?
Until now there really hasn't been any help for consumers to fix errors found on their driving record. Quote44.com is launching a 100% free service that gives consumers the tools and resources they need in order to properly file a dispute and get inaccurate information removed from their driving record permanently. You can dispute anything from traffic tickets to claims & accident information.
Live Comparative Car Insurance Rater
You fill out just 1 form and it takes around 5 minutes. You can compare 44 companies for car insurance and more. The rates are accurate and based on your information. Compare Car insurance rates in your zip code here.
Read the full story at http://www.prweb.com/releases/2013/4/prweb10589225.htm.
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