Happy New Year! The new year is ringing in new changes in auto insurance in Tennessee. A new insurance verification system launches this month and it requires all insurance companies to register with the Tennessee Department of Revenue and provide auto insurance policy information. This new change is to make sure all motorists are insured, and if not, are reported promptly to the State by the insurance carrier if they let their auto insurance lapse or cancel. Rather than checking for insurance coverage at the time of registration renewal, this system will verify insurance coverage on a continual basis throughout the year.
All drivers should make sure the vehicle identification number on their registration and insurance cards are correct. Insurance carriers will report their information, and only if there is a problem will motorists have to take action. If that happens, you will receive a notice from the State asking you to respond within 30 days. If they do not receive a response within 30 days, motorists will get a $25 penalty. A final notice imposing the $25 penalty and a warning of a $100 penalty and suspension will then be sent, giving the motorist 30 days to respond. Finally, a suspension notice will be sent with a total of $125 penalty.
If the system is unable to confirm insurance coverage for a vehicle, a notice will be sent to the owner directing them to a website or call center to sort out any problems.
If a driver does not have valid insurance when pulled over by law enforcement, they will pay additional fines of up to $300 and they can lose their vehicle registration, in addition to being subject to a class C misdemeanor. Law enforcement will have the new verification tool to verify you have it. At their discretion they can have your vehicle towed.
WHAT IF I HAVEN’T BEEN INSURING MY VEHICLE BECAUSE I CAN’T AFFORD IT?
Tennessee law requires motorists to carry proof of financial responsibility. The most common way to meet this requirement is to carry a minimum amount of auto liability insurance. The required minimum limits for TN is:
- $25,000 for each injury or death per accident
- $50,000 for total injuries or deaths per accident
- $15,000 for property damage per accident
Other ways you can show proof are posting a $65,000 bond with the Dept of Revenue, or making a cash deposit for $65,000.
Under the States new Electronic Insurance Verification System, you risk paying fines and potentially losing the right to drive your vehicle if you do not comply. You cannot afford NOT to have proper insurance coverage.
We can help! As an independent agent, we represent insurance companies with competitive rates and flexible payment options. Call us today at 865-687-8142!
Our agency specializes in custom built, comprehensive insurance plans for Security Guard insurance, Private Investigators, Background Check Agencies and more. We have an understanding of the security and alarm industries and partner with insurance carriers that are best in this industry. We have a high level of expertise and skill at putting together comprehensive plans that protect your business at competitive rates for your bottom line.
We provide General and Professional Liability, Property, Business Auto, Worker’s Compensation, Commercial Umbrella along with many other lines of coverage.
With fully staffed claims and loss control departments that are available to help track any losses and provide services and advise to keep future claims under control. Our markets are financially strong and stable and are trusted in the security, investigative, background screening and alarm communities.
We offer very flexible payment options also looking out for your bottom line.
Give us a call, let us review your insurance needs and put a specialized plan together!
If you have tickets, at fault accidents, DUI’s you may have trouble obtaining auto insurance. You may also be required to file an SR-22 filing with the State for proof of insurance until these incidents fall off your record. Even though the State only requires minimum limits, higher limits are recommended.
As an independent agency, we have multiple insurance carriers that provide insurance coverage with flexible payment options to fit your budget. They can also provide Non-Owner policies if you don’t have a vehicle currently in your name.
We can provide a no-obligation quote and get you back on the road. Give us a call today 865-687-8142.
We are excited to welcome Minda White to our team! Minda will be a new producer with us for Personal Lines insurance, Life insurance, Medicare Supplements and Small Commercial Insurance.
Minda has over 8 years industry experience, is married with one daughter, and lives in the Gibbs community.
We feel Minda is going to be a great asset to our agency.
Knoxville Award Program Honors the Achievement
Cameron Agency has been selected for the 2015 Best of Knoxville Award in the Insurance Agency category by the Knoxville Award Program.
Each year, the Knoxville Award Program indentifies companies that we believe have achieved exceptional marketing success in their local community and business category. These are local companies that enhance the positive image of small business through service to their customers and our community. These exceptional companies help make Knoxville area a great place to live, work and play.
Various sources of information were gathered and analyzed to choose the winners in each category. The 2015 Knoxville Award Program focuses on quality, not quantity. Winners are determined based on the information gathered both internally by the Knoxville Award Program and data provided by third parties.
About Knoxville Award Program
The Knoxville Award Program is an annual awards program honoring the achievements and accomplishments of local businesses throughout the Knoxville area. Recognition is given to those companies that have shown the ability to use their best practices and implemented programs to generate competitive advantages and long-term value.
The Knoxville Award Program was established to recognize the best of local businesses in our community. Our organization works exclusively with local business owners, trade groups, professional associations and other business advertising and marketing groups. Our mission is to recognize the small business community’s contributions to the U.S. economy.
SOURCE: Knoxville Award Program