There are currently millions of people who are at risk for losing their insurance, not receiving important mail and possibly facing fines. They’ve been caught up with the moving process and have simply failed to correctly update their addresses. Be sure to update them here if you need help change-of-address-online.com/addresschange/usps-address-change-help/texas-change-of-address/texas-change-of-address-2/.
There is more than just the hassle of not getting mail because it was sent to the wrong place. There are possible fines and other costly implications you could face, according to one of the nations largest insurance companies.
Depending on which state you live in, you could face a fine from the Motor Vehicles Department for not updating to your correct address. If you own a home you could run the risk of having your homeowners insurance invalidated by not informing your insurance company of your move.
If you decide to move or even if you choose to stay at another address for a long period of time your policy might have to be amended. An even greater risk is that it might affect your credit score when the records are appearing inconsistent. When you fail to register to vote, it compromises your credit rating with some lenders because they regard it as an important anti-fraud measure.
Why Don’t People Update their Address
The most common cause why people fail to correctly change their address is due to the stressful nature and time consuming process of moving in general. Updating and changing address details is in back of the bus for most people.
Unfortunately, the consequences of not updating your address are far worse than just a few missed letters. People are at risk for fines, losing important, sensitive information and possibly losing their homeowners insurance.
The most common types of business that don’t have correct addresses:
- Medical, doctor, dentist
- Cell phone provider
- Voter registration office
- Billing address for online shopping
- County tax office
- Car Insurance
- Mortgage company
- Fitness center
Who are these People
A national study done by a leading insurance company found that out of 7 million people in the US registered to the wrong address, nearly half are living in rental units without being listed on the rental agreement. The other half are staying in a home with friends or family and not registered as a resident.
Half of the total number are still children living with their parents after they’ve turned 18 and roughly 40% of adults 34-55 still use their parents address for mail.
Out of the 7 million, nearly 3 million have said that their dentist and I or doctor don’t have their correct address or contact number and 2.5 million have said that their bank has incorrect address information.
Over 30% of the people surveyed said that they’re been at their address for over 9 years, while the majority said they’ve spent between 4-6 years.
The dangers of not correctly changing your address can be severe once you gain a deeper understanding or the consequences involved by not implying updating the forms.