Q: An insurance company we were with for 11 years quadrupled our homeowners premiums during this time Is this legal?
We Filed a couple of homeowners claims several years back and they kept exorbitantly upping our premiums year after year Annually I would call them and ask what could be done to better our rates. They offered nothing. our Renewal policies came in through the roof For oct 2020 so we decided to shop Out with others they all quoted me $6500 less per year than this company $6,000 for home $500 for auto when I changed companies and called to cancel they said oops we haven’t assessed you since 2009 all these years getting robbed do I have any recourse?
A:
Multiple claims could cause a significant rise in premiums. In terms of the other matter, you may need to review the file with an attorney in terms of the basis for the retroactive assessment - whether stemming from representations upon which their underwriters assessed the risk. Based on the limited facts here, it's difficult to make an accurate call on the reason. Good luck
Tim Akpinar
1 user found this answer helpful
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