Can an inusurance company have a higher premium than quote.

by jonball7 » Sat Jul 11, 2009 09:03 pm

I have taken out an auto insurance policy with State Farm at $1011.63 for the 6 month period and my insurance broker has returned, two weeks into the policy and after the payments stating that he quoted incorrectly and the underwriters have now quoted $1950 for the 6 months? can they legally do this? Where do I stand and what are my rights?
Thank you

Total Comments: 2

Posted: Sun Jul 12, 2009 01:35 pm Post Subject:

can they legally do this?

yep..

Where do I stand and what are my rights?

You didn't list your state so I can't check the Dept of Ins web site, you can google same, and it will tell you if you have any recourse, I doubt there is any. Time to start getting additional quotes I guess. This happens some times...Surely you had to wonder why their quote was sooooooooo much lower than other companys right?

Posted: Mon Jul 13, 2009 04:29 am Post Subject:

Hello Jonball,

can they legally do this?



I'm afraid this can happen. However, certain things I would like to know.

Have you received the initial quote online?

Has the nature of your risk changed since you have obtained the first quote?

Thanks,
Rupert

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