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Can an insurance company increase your home owners insurance by more then 50% without any changes.?

July 18, 2010 - 10:41 pm 7 Comments

A claim has never been filed. Limits of liability are the same. No hazzardous conditions have entered into the picture.. Paid $956.00 in 2009 and they want $1500.00 for 2010.

The insurance company must charge the premium according to the manual insurance rate approved by your state’s insurance department. Your own loss experience is totally irrelevant to the premium.

Posted home owners insurance company |

7 Responses to “Can an insurance company increase your home owners insurance by more then 50% without any changes.?”

  1. Common Sense Says:
    July 19th, 2010 at 4:00 am

    Then find a new company. Any company can raise rates as they wish.
    References :

  2. Ghost of Zeuz Says:
    July 19th, 2010 at 4:23 am

    The insurance company must charge the premium according to the manual insurance rate approved by your state’s insurance department. Your own loss experience is totally irrelevant to the premium.
    References :

  3. sharon red baron Says:
    July 19th, 2010 at 4:59 am

    First call you house insurance company to make sure there was not an error made. If the rate increase is correct according to them I would be on the phone calling for more estimates from other companies.
    References :

  4. Kaye Longo Says:
    July 19th, 2010 at 5:16 am

    Yes they can
    References :

  5. Caveat Emptor Says:
    July 19th, 2010 at 5:42 am

    Then ask them WHY the increase. You can also change insurers.
    References :

  6. www.myabi.com Says:
    July 19th, 2010 at 5:47 am

    Sounds like a case of your credit is much worse than it was before. Call a local independent agent for a free second opinion.
    References :
    http://www.myabi.com
    blog.myabi.info

  7. mbrcatz Says:
    July 19th, 2010 at 6:08 am

    Yes. Especially in Florida, where rates are notoriously inadequate, even though they’re high.

    The best way to find out if that rate is actually UNFAIR, is to shop around and try to get another rate.

    But you should also talk to your agent. Some increases in hazards you might not be aware of, would include your credit score lowering, a drastic increase in claims in your zip code, or your house reaching a "magic age" where now all the major systems are over 20 years old, or the house is 75 years old, or such. Your agent is the BEST source to find out what you can do to mitigate this increase.
    References :

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