Posted: Thu Oct 04, 2007 5:11 pm Post subject: Why our Insurance went up
Why our Insurance went up so much? We have never turned in a claim in 12 years.I am with farm bureau of north carolina.And some underwriters assoc.Can you give us a quote.Thanks LMC
Hi Lonnie, welcome to ampminsure. Thanks for joining us. In your post you haven't mentioned which type of insurance you are talking about- home, health, auto. Insurance premium can increase for many reasons, depending upon the insured's age, health, area of residence and so forth.
Say for instance, health insurance. There is a general trend in North Carolina that rural population pay higher premium than the urban mass for health insurance. The reasons were identified as
Graying population. Rural area is the abode of greater number of elderly citizens than the city area.
Greater influence of diseases like diabetes and other
Greater incidents of hospitalization
Therefore, there can be more than one reason for premium hike. And in the recent past NC has suffered from the nature's fury to a great extent. That has also influenced the overall premium structure.
Posted: Fri Oct 05, 2007 8:10 am Post subject: there is an overall increase in homeowner insurance premium
Hi there, you are not the only sufferer. There are many others to join you. The insurers have increased the price of homeowners' coverage by almost 5.4%. I have a friend in NC who was also complaining about the increase in her homeowners insurance premium. The insurers are sighting the reasons for this hike as- the overall increase in home value, increase in the prices of building materials, huge loss of the insurance companies towards claim settlement, threats of more natural disasters etc. In fact, the coastal areas of the state have suffered even greater set back in terms of homeowner insurance premium increase. Tk
Sophia _________________ Register Now to have your Insurance queries solved.
IMO the best way to know why your premium has gone up is to ask you agent. He is your direct contact person and will be able to explain you about it. I suppose the insurance firms are also required to give a disclosure on your premium increase. It's a wrong concept that insurance premium only gets affected by claim filing. The premium can go up for many other reasons also. Even the upsurge in the cost of providing services can influence your premium rate.
Posted: Fri Oct 05, 2007 11:08 am Post subject: Auto Insurance Rates
Hi Lonnie,
How much did your rate go up? I live in Michigan and I recently found a much lower rate for my home and auto insurance. Maybe you should try using a comparison website. I was able to find the best rate by using this website my friend referred me too It was called primericasecure.com.
You have to use the following codes to access the site.
Rep Pin: LSAJ2
Rep Last Name: Moore
Let me know what you find. Good luck! _________________ Register Now to have your Insurance queries solved.
Are you referring to your homeowners insurance? If so, the cost to insure a home in N.C has increased, especially if you live near the coast.
Although rates have increased in N.C, it is not amongst the most expensive US states to insure a home
Our homeowners went up also. My agent said it was a factor of many things. Our county assessor did a big assessment of the homes here, thus raising the homes values and along with that, taxes and insurance.
If yours had not gone up in twelve years, that sounds pretty good to me!
I also have had our insurance raised for reasons mentioned above-cost to repair/replace-cost of building cost of contents,etc.
Just be careful on changing a carrier- I believe in shopping around for policies, but my dad always told me- you get what you pay for.
Homeowners insurance has sky rocketed in the past few years, I just last week reviewed all my coverages, and get this. I raised my deductible from 250-500.00 and saved 200.00 a year !!!! Our dwelling is insured right around 198k I think, I ask and the difference from 500-1000.00 was only about fifty bucks, so I left it at 500, but you can see (and I'm no math wiz) you make up (nearly) that 250 in one years premium.....Might want to think about that !
I read the post and have not figured out if you really are talking about homeowners or medical or vehicle...but if you are talking about car insurance, I had to find another insurer because my rates kept going up, and up, and up....I did find a helpful site and if you need it hope it helps you too...goodluck! compareinsurancee.com _________________ Register Now to have your Insurance queries solved.
