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Or regulate P & C instead of only focusing on a take over of health insurance.
My Home Insurance Went Up 97%..need Help!
- Thread starter lonestartx
- Start date
hell no! Just cause one state, maybe 2 are screwed up, dont mean the rest of us have to suffer
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And what is the minimum loss ratio for home owners or refund checks get mailed? Ohhh wait there isn't one.
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This is an industry site and they don't specify what the blue or red portion of the graph mean, but assuming this is halfway accurate... there never will be a rebate check in Texas for homeowners.
Texas Insurance Loss Data
Here is one by the TDOI, several pages down it shows a combined ratio of in excess of 110% on one segment of the homeowner's market in 2009. Even further in is a page showing underwriting profit for the past twelve years in Texas starting with 2011. Here is a hint, there is none.
http://www.senate.state.tx.us/75r/senate/commit/c510/handouts12/0710-EleanorKitzman-1.pdf
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Industry data.
Smoke and mirrors.
I have never had a claim in my life. I have paid under $1000 now I believe I am closer to $4000. We have never had hurricane damage. I have a separate flood policy.
I would gladly take a 5% deductible for a $1000 policy. Not available.
Customization is limited. Policy coverage is no where near what it was years ago.
Got mold? Too bad.
Have a claim? Unlike health you will be singled out for rate increases or refused a new policy for years.
Own a gun in your home? You could be denied coverage.
Have bad credit? They can use this and other discriminating underwriting.
It's completely out of control.
Smoke and mirrors.
I have never had a claim in my life. I have paid under $1000 now I believe I am closer to $4000. We have never had hurricane damage. I have a separate flood policy.
I would gladly take a 5% deductible for a $1000 policy. Not available.
Customization is limited. Policy coverage is no where near what it was years ago.
Got mold? Too bad.
Have a claim? Unlike health you will be singled out for rate increases or refused a new policy for years.
Own a gun in your home? You could be denied coverage.
Have bad credit? They can use this and other discriminating underwriting.
It's completely out of control.
rhyswoodward
New Member
- 3
I think your credit rating would affect the premium amount some how. But then you could make a deal with the insurer to settle in for a cheaper cover or lower the premium amount.
CRI (Credit Rating Index) is now used by all companies when it come to Homeowners and Auto insurance. I think the last company in the industry to implement CRI was American Family back in 2005.. but like I said, that was the longest hold out regarding credit usage. It's a monster you can't get away from. I would suggest shopping around.
Us Independent Agents can always do the shopping for you at renewal time
Us Independent Agents can always do the shopping for you at renewal time
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Should be illegal... I think American Family was the one who refused my home owners because I owned a gun? Ummmmm seriously I live in Texas isn't that state law? I might be mixing them up with someone else... I can't believe what P & C companies get away with apparently even violating the constitution.
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