Home Insurance Rates - They Are Not Getting Any Cheaper
Many homeowners in the United States are raising their eyebrows at price increases for home insurance. The average increase is 18 percent, but some states have seen rates go up by up to 50 percent. Homeowners are facing a difficult choice - should they stick with the higher rates or switch companies?
The answer is simple: Switch companies. MORE THAN HALF OF BUYERS CHANGE INSURANCE PROTECTION IN THIS WAY! Throwing away your current plan and moving to a new provider could save you thousands of dollars per year and even protect you from future disasters.
If you have the option, take it.
Home insurance companies are raising rates for a number of reasons, but none of them are worth the extra cost to consumers. Many companies claim that they are hiking rates because they have to pay out more in claims when disasters strike, especially when tornadoes touch down.
This is a valid concern for insurance companies, but simply because they need to cover increasing costs doesn't mean you should be paying more for your protection. We recommend looking around before signing another year with your current provider if you can afford it. Your home isn't going anywhere and you will be able to get a new plan next year if your rates continue to rise.
Another common reason insurance companies are raising rates is because they say that more people claim they've lost money because of theft or fire. Mortgage fraud has increased, making it harder for the insurance companies to determine if your paperwork is legitimate.
Insurance companies are also claiming that the number of claims filed by policyholders is increasing as more people become aware of their rights. This isn't necessarily a bad thing as many homeowners are unaware of when they have actually been harmed by an incident and should be reimbursed by their insurance company. If consumers are realizing they have rights and fighting for them, then we see this as a positive change that should encourage other customers to do the same.
Unfortunately, these are not good reasons for raising prices for everyone.
Even if fewer claims were being filed, there is no good reason for insurance companies to put rates up by more than 10 percent in the next year. Yes, it's true that they are paying more out on claims for some of their clients, but this is a problem with the company and not you. It's time to move and take your business to a different provider that will charge you less. MORE THAN HALF OF BUYERS CHANGE INSURANCE PROTECTION IN THIS WAY! Throwing away your current plan and moving to a new provider could save you thousands of dollars per year and even protect you from future disasters.
If you have the option, take it.
Homeowners in the United States are facing a difficult choice - should they stick with the higher rates or switch companies? The answer is simple: Switch companies. The number of people who change insurance providers (more than half in this way) is proof that customers are finding that switching is a smart move when they get rate increases (and many others feel the same).
When you switch insurance providers, you're not just getting a new company, but also a new agent. You need to be sure that they are well informed on your needs and can set up immediate coverage for any property damage to your house or your possessions.
Without an agent, it can be very easy to overlook something when you're setting up a new policy. You may not realize that you purchased coverage for your antiques or the original painting you bought when you were studying at art school. Your agent is going to help make sure everything important is protected.
If you have the chance to switch companies, take it. When half of policyholders change coverage every year, there must be a sound reason for moving around. Many consumers are happy with their insurance providers and aren't looking for lower prices but we think that an increase of 18 percent (on average) is hard to justify in today's market.
The simple fact is that insurance companies need to do better. They need to work harder with their existing clients and stop raising prices by large amounts. This is why they lose so many clients every single year. MORE THAN HALF OF BUYERS CHANGE INSURANCE PROTECTION IN THIS WAY! Throwing away your current plan and moving to a new provider could save you thousands of dollars per year and even protect you from future disasters.
If you have the option, take it.
The Economy Real Estate News (http://www.thereconomyrealestatenews.com) is an economic news publication specializing in the residential real estate market and featuring timely articles related to the U.S. economy, housing industry and mortgage markets.
Articles are written by veteran journalists with over 35 years of hands-on experience on a wide variety of business topics, including advertising, marketing, banking, public relations, franchising and real estate. Readers love The Economy Real Estate News because it's packed with valuable information from the editor of TheREALtorque (www.theREALTorque.com), an award winning real estate blog that reaches over 400K page views per month!
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The Economy Real Estate News (http://www.thereconomyrealestatenews.com) is an economic news publication specializing in the residential real estate market and featuring timely articles related to the U.S. economy, housing industry and mortgage markets.
Articles are written by veteran journalists with over 35 years of hands-on experience on a wide variety of business topics, including advertising, marketing, banking, public relations, franchising and real estate. Readers love The Economy Real Estate News because it's packed with valuable information from the editor of TheREALtorque (www.theREALTorque.com), an award winning real estate blog that reaches over 400K page views per month!
Contact Us
Email: info@thereconomyrealestatenews.com
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Subscribe to The Economy Real Estate News via email on the top right of this page or follow @theREALtorque on Twitter!
The simple fact is that insurance companies need to do better. They need to work harder with their existing clients and stop raising prices by large amounts. This is why they lose so many clients every single year.
Conclusion
The simple fact is that insurance companies need to do better. They need to work harder with their existing clients and stop raising prices by large amounts. This is why they lose so many clients every single year.
Homeowners in the United States are facing a difficult choice - should they stick with the higher rates or switch companies? The answer is simple: Switch companies. The number of people who change insurance providers (more than half in this way) is proof that customers are finding that switching is a smart move when they get rate increases (and many others feel the same).
If you have the chance, take it! When half of policyholders change coverage every year, there must be a sound reason for moving around.