Q: Nationwide stated my monthly payment went from $93 to $283.00 without previous notice. Is this right or an error?
Pet Insurance. I have been with them for 5 years. Can the agent be wrong and confused it for the premium as renewal is due?
A:
Under California law, insurance companies are required to notify policyholders of significant changes in policy terms, including premium increases. If your monthly payment for pet insurance has suddenly increased from $93 to $283 without prior notice, this could potentially be an error or a miscommunication.
It's possible that the agent may have confused your monthly payment with the annual premium, especially if your policy renewal is approaching. Insurance premiums can change due to various factors, but a substantial increase like this warrants clarification.
You should promptly contact Nationwide to inquire about the sudden increase. Request a detailed explanation for the change and verify whether it's a monthly charge or an annual premium. Ensure that all your policy details, including coverage and any recent claims, are accurate and have been properly accounted for in determining the premium.
If the increase is indeed accurate and not an error, ask for the specific reasons behind it. You have the right to a clear understanding of any changes to your policy terms. If you're not satisfied with their response, you may consider reaching out to the California Department of Insurance for assistance or seeking advice from an attorney experienced in insurance matters.
A: It's not necessarily bad faith, one of the chosen post categories. It could be an oversight or other error, given the large percentage increase. If you contact the carrier and learn that it is not an error, you could check with state insurance and consumer agencies for further information. Good luck
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