Insurance Surcharge Assessment

An insurance surcharge assessment is a document which is presented to a client or an individual after the insurance surcharge amount for a period of time has been calculated. It is the additional amount added to the insurance premium paid by an individual or estate and is calculated by determining the degree of risk associated with the client. The document is a crucial one and must be factually correct.

There should be no errors of calculation and transparency and clarity must be maintained in the insurance surcharge assessment. Care should be taken to get it compiled in an easy and lucid fashion so that the client can understand the reasons for the additional amount being added. The terms and conditions of the insurance company with regards to insurance surcharge assessment must also be mentioned.

Sample Insurance Surcharge Assessment

Insurance surcharge assessment report compiled by: New York State Motor Vehicles Services, following the New York State Motor Vehicles Act of 1976.

Date of submission of report: 12th June 2011

Insurance surcharge assessment report mailed to: Jason Cunningham, 56 A Kentwood Estate, New York.

Motor license number of driver: NY8346473

Registered on: 1st June 2008

Insurance surcharge assessment report for the period: May 2010 to May 2011.

Number of offences committed by the driver in the period mentioned: 1

Insurance surcharge amount added: 1000 USD for three years

Cause of offence: DUI or Driving under Influence

Time for which the insurance surcharge amount will be valid and added: 3 years

Last date for payment of the money: 12th July 2011

This document is also a Notice of Proposed Suspension of driving privileges. The entire surcharge amount must be paid by the date mentioned in the surcharge assessment report, failing which the driving privileges of the driver will be suspended for an indefinite period of time, and can be retrieved only by paying an additional fine of 50.00USD.

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