Can you get back dated auto insurance?

UPDATED: Jul 12, 2011

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UPDATED: Jul 12, 2011Fact Checked

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Asked July 12, 2011

1 Answer

While it is impossible to say that you definitely cannot get a backdated auto insurance policy, it is not something that a reputable auto insurance company would do under any circumstances. Backdating insurance is effectively saying that your vehicle was insured before the date of the actual policy purchase, and would mean that the insurance company would be liable for claims based before they had agreed to accept you for coverage.

Because backdating a policy is typically done to show insurance was available at a time when it it, in fact, was not, doing so increases the risk to the insurance company. Since insurance companies operate on a risk assessment basis, this type of policy would not be profitable for the insurance company, favoring the insured person at the expense of the insurance company, typically to prevent the insured person from being penalized for driving without insurance, which is counterproductive to all insurance.

If an insurance company did agree to issue a backdated policy, the cost of the policy would make it prohibitive for the average person anyway. The reason for this would be because the insurance company would have to include risk-based charges to account for any infractions, usually unknown ones, that had occurred prior to issuing the policy. So even if your best friend owns an insurance company, he or she will not be eager to help you get out of trouble by committing insurance fraud on your behalf.

Answered July 12, 2011 by Anonymous

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