OT: Insurance company ripoff
04-20-2012, 06:23 AM
#11
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I feel your pain. I also live in MA and my insurance company works the same way. If you make a claim (home or auto) they penalize you on your premium for a period of time. I have high deductibles on both house and car for that reason ($1000). I'd rather pay out of my own pocket for a claim than incur a surcharge on future years and at the same time, have a lower premium. I look at my policies as calamity insurance for a large loss. I believe my policies incur the surcharge for three years vs five after a claim. They don't call it Taxachusetts for nuthin'. At least we had a significant drop in premium cost about 4 or 5 years ago when they dropped some of the state pricing regulations. Mine went down about 25% at that time.
Agree. It's better to pay it out of your pocket because sometimes your insurance penalty got worst and much expensive.
04-23-2012, 10:34 PM
#13
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The insurance industry is absolutely insane. I don’t think there’s any credit for being loyal these days so I keep switching to find the lowest rates. Right now, I’d suggest getting a quote from the AARP (if you’re a member, or can become one). The AARP discount auto insurance quotes look affordable for me and they may take you in as well…no harm in getting a quote.
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