I have had a perfect record with my auto insurance company for several years. I finally had to file a claim with them and now my rates are being raised. How is this fair?
How Can My Company Insurance Company Raise My Rates Because Of One Claim?
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One response to “How Can My Company Insurance Company Raise My Rates Because Of One Claim?”
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I can not vouch for fairness as that is a matter of perception. Every carrier must file its rates with the insurance commissioner of the states that they operate in and receive approval before those rates are implemented. Your premium rate for your coverage involves many factors, one of them being claims. If you are concerned that you are now paying too much for your coverage you can always shop your coverage with other carriers. I am sorry if this seems a little callus, but typically you will pay now or you will pay later. If you shop your coverage exclusively on price then the chances of this type of thing happening to you increase.
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