by joanie » Tue Mar 17, 2009 12:54 am
I have been with my insurance company 20 years. I have a good driving record. Within last 8 months, I had two claims (about 1100 each) that were comprehension collision. I now have a 2k claim. will my insurance be cancelled or affected/
Posted: Tue Mar 17, 2009 06:11 am Post Subject:
Well, the company might decide not to renew the policy or you may experience an upward change in the rate. Honestly, it'd depend entirely on the company. Since you were with them for a long time, they can take a lenient towards you but there is no guarantee.
The reason of the damage would also affect their decision. But, with all possibilities nothing will happen till the date of renew. If its close I'd suggest that you start searching for another carrier and compare the rates.
Posted: Tue Mar 17, 2009 06:26 am Post Subject:
I have been with my insurance company 20 years. I have a good driving record. Within last 8 months, I had two claims (about 1100 each) that were comprehension collision. I now have a 2k claim. will my insurance be cancelled or affected/
Tough call, Joanie! I was with my carrier for 10 years when they decided to drop me following an accident. But even if they don't cancel your plan get prepared to experience an escalation on your rates. And, yeah, also forget about the discounts that you have been enjoying so far.
Good luck, friend!
Posted: Tue Mar 17, 2009 09:40 am Post Subject:
joanie
Really a tough decision.If i would have been the person who is in control of the insurance premium from insurance company's point of view,
surely i will give a detailed analysis of the previous claims,if everything is as per the "standard deviation" i will not increase the premium.The moment i see any slight deviation from the norm then i will hike the premium........... :wink:
Posted: Tue Mar 17, 2009 10:55 am Post Subject: insurance
I would think if you had stayed 'loyal' for so long, and hadn't gotten into any accidents in "years", your Insurance company should understand that accidents DO happen. However, of course, it depends ( I think, anyway..) on the circumstances of the accident and if the accidents were your fault or not.
Posted: Tue Mar 17, 2009 11:54 am Post Subject:
It depends...what 'kind' of comp claims...and what is this newest claim for?
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