insurance

What is a surcharge?

 

What is a surcharge?

The Bankrate.com financial term of the day is: "surcharge."

When a crash is your fault, or if you get a traffic ticket, your auto insurance company will not be happy. Typically, a surcharge, or additional cost, will be tacked on to your premium to reflect the insurer's perception that you're a bigger risk.

Cause an accident or break the traffic laws and it will cost you, probably in many ways -- including with a surcharge added to your car insurance bill.

To shop for insurance to fit your family's needs, visit the Insurance section at Bankrate.com.

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