Backdating legal definition
Backdating, by definition, is the practice of putting a calendar date on any document that is earlier than the date on which that document was actually written. Backdating Car Insurance Policies Backdating a car insurance policies is illegal and something no reputable insurance company or agent would ever do. Because it implies that you had coverage on your vehicle before you actuallydid. Let’s look at how backdating affects different aspects of car insurance, health insurance and life insurance.This date is usually the date which both parties consider to be the date the contract was made and became effective, unless there is a different defined ‘Effective Date’ or ‘Commencement Date’.If there is a date at the beginning of the contract which is not the date of the last signature this can lead to confusion or be of no effect in interpreting when the contract actually began.The contract date is usually written onto the front cover and the first page of the contract (although there is no legal requirement to do so).
Lawsuits would inevitably skyrocket, clogging our already over-burdened court system.
It seems simple, but which date to write on a contract, and how to interpret the dates often raises some fiddly.
There are a number of dates which can appear within contracts.
If you could do this, nobody would ever buy car insurance until after an accident happened.
That would have the effect of turning the car insurance industry’s risk-assessment-based business model on its head.