How to cope with the sky high premiums !

Submitted by Anonymous (not verified) on Fri, 02/24/2006 - 11:52

Insurance Premiums are almost spilling out !

I had seen through a 75% rise in my premiums, as also my deductible which rose up by $750. I would be grateful if anyone of you guys could help me out.

Regards,
Pablos.

Posted: 24 Feb 2006 12:24 Post Subject: A Myth

Hi !

It sounds interesting, but it would not be wrong to say that our firm belief depicting other companies to be much better than the one we are attached to, has turned out to be a serious myth.

The oldies are often treated with discount packages. For the past two decades I have a policy applicable to both of my car and home. I had been through a research work tallying and analyzing the factors contributing towards pricing amongst various companies, still I had been able to mark very few differences, even though these companies are claiming bigger savings. My savings for my two cars would amount to some $50 per year excluding my homeowners which is also expected to rise ever since my loss in terms of discount for multi-policies. My deductibles rose to $1000 owing to the fact that my premiums have become unbearable. This way of bringing down the premiums has become a common practice now-a-days.

Regards,
IAGO.

Posted: 27 Feb 2006 05:11 Post Subject: Look for independant Agents !

My Friend,

Somehow I got this feeling that you might be from Texas too !

As far my knowledge is concerned, Texas is a state where a deductible increase to $1000 is generally looked upon as a good thing and the home owners insurance is not yet governed by the state laws. The insurance claims usually go against the insured, incase he maintains a low deductible and if someone stands between 1% and 3% deductible it largely effects ones premiums. Credit Reports play an important role in setting the rates. The insurance carriers are out to raise the rates in case their inspections reveal a land property is disorganized and full of unnecessary objects.

The insurance agents are therefore the best people to explain this increase and also if anything could enable you to roll back a part of it. For that reason its better to seek the advice of independent agents than any of the captive agents.
looking forward to more interesting queries from you,
Jace

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