by Guest » Fri Sep 23, 2011 11:08 am
I'm not happy with my current insurance company and I'm finding out I will be paying a severe increase in my ho. Talking to friends and family and asking a lot of questions. No one i know with equal to greater homes are paying what i've been quoted...my iso is clean, according to most. state farm told me i had a claim for 800 in 2010 which is False. I have excellent credit, good driving record etc.I live in a modest home, which will be paid off in 4 years or sooner. Is this normal to just outright switch...and be expected to pay 3 times what i'm paying as of now? it just doesn't make sense. Please advice! :shock:
Posted: Fri Sep 23, 2011 01:22 pm Post Subject:
If you think your situation is the same as other people who are paying much less, find out who they have insurance with and obtain a quote.
If your rates are 3x theirs, I'm betting your exposure is not the same.
Posted: Fri Sep 23, 2011 06:19 pm Post Subject:
What's an iso? Most companies are basing rate on a credit score and insurance profile score(claim history)
Are the agents who are quoting making any recommendations to lower the rates?
Posted: Fri Sep 23, 2011 06:25 pm Post Subject:
What's an iso?
Probably CLUE report... or whatever indexes claims on property policies.
Posted: Mon Sep 26, 2011 07:17 pm Post Subject:
If the 2010 claim for $800 is false, find out which insurance company reported the claim, and contact them to find out more about it. If it is not a legitimate claim, you should be able to get it fixed.
With all the recent catastrophic claims, homeowners at risk for tornadoes & hurricanes are being dropped or having their rates increased.
But having a claim on your 5 year claims history is probably adding a lot to your rate, so if it is incorrect, you definitely want to fix it.
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