This week I received my insurance bill. The premium is 33% higher than it was last year. I immediately called my insurance agent and was told I should feel lucky. I don't, I feel poorer.
He told me others are experiencing 50 - 70% increases in their yearly premium. I'm starting to wish I was a renter again. With the squeeze this will cause my family, there is no doubt this is pushing others out of the "home-owner" catagory.
Realistically, is there anything that can be done? This is how the world revolves. A business needs to profit, and when the costs go up, the price of the product needs to go up or the business can't operate. Some discussions suggest the state foots the bill, but this still trickles down to our wallet. What's the answer?
There were several articles released today about Citizens' rate hike, and click here for some suggestions from our legislators.
Also, more can be found by clicking here.
Thursday, December 07, 2006
Subscribe to:
Post Comments (Atom)
3 comments:
My Insurance company didn't raise my rates a penny!!! They just decided after 19 years without a claim, not to renew my policy.
Nice, you've got to love the loyalty.
This is capitalism. Sure, rates go up but there are multiple carriers. Shop your rate. If all rates seem to be up then there will be a competitor that will try to get more business by offering lower rates. Putting the State in a position of footing the bill is NOT the answer. We've already got too much government in our business. I, too, feel the pain of higher rates but also have a deep belief in our system. I would only be concerned if there were one carrier or if all carriers got together and set rates ... that's were the government CAN get involved thanks to the Sherman Anti Trust act.
Post a Comment