Breaking News > Ask State Representative David Day a question
Homeowners Insurance
merrymutts:
so...how come they can apparently do whatever they want as far as setting and raising rates ???
We have had XXX company for several years for both our home and our vehicles...never filed a claim ...
we get our Renewal notice in the mail and OMFG..." due to the number of disasters in Missouri in the past 3 years and the increase in claims "...our rates are being increased.
OK...sounds reasonable...until I saw how much...
MY RATES ARE BEING INCREASED BY 77. % ..YES SEVENTY-SEVEN PERCENT !!
Can that possibly be even considered reasonable by any standards ???
Coyote:
Have we had that many disasters? I guess all the tornados.
merrymutts:
I guess I'll have my own personal street in Joplin
♥♣ ~Maynard~♣♥:
--- Quote from: merrymutts on July 11, 2012, 03:26:33 PM ---so...how come they can apparently do whatever they want as far as setting and raising rates ???
We have had XXX company for several years for both our home and our vehicles...never filed a claim ...
we get our Renewal notice in the mail and OMFG..." due to the number of disasters in Missouri in the past 3 years and the increase in claims "...our rates are being increased.
OK...sounds reasonable...until I saw how much...
MY RATES ARE BEING INCREASED BY 77. % ..YES SEVENTY-SEVEN PERCENT !!
Can that possibly be even considered reasonable by any standards ???
--- End quote ---
I can believe it. We on the gulf coast can only get RISK insurance
which is a very high rate and they are looking at a 33% increase this year.
But believe it or not we are still way ahead of the game.
5 new roofs 2 new sheds and a complete home replacement that was due to a fire caused by our heat pump AC.
So I keep paying.
I wonder what the rate are on a home in the middle of 40.000 acres in Montana? ::)
merrymutts:
so why isn't there some kind of regulating of this ?? I could see increases of that level if we filed multiple or frivolous claims...but NONE ???
The MO Insurance Commission told me that the companies have to file for a rate increase through Jefferson City but I guess that's just a CYA kind of thing...and was told ( rather snippily, I might add )..." Contact your legislator"
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