Insurance Companies: "Since Irene was far weaker than expected, we're going to raise your rates anyw

sfpcjock

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Mon Aug-29-11 04:58 PM
Original message

Insurance Companies: "Since Irene was far weaker than expected, we're going to raise your rates anyw

Edited on Mon Aug-29-11 05:11 PM by sfpcjock

Insurance Companies: "Since Irene was far weaker than expected, we're going to save millions on payouts, but we're going to raise your rates anyway"

http://finance.yahoo.com/news/Irene-and-Insurers-Less-cnbc-1593247401.html">Irene and Insurers: Less Damage, Excuse to Hike Prices - CNBC, Yahoo Finance

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Tesha

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Mon Aug-29-11 06:02 PM
Response to Original message

1. Perhaps you need to join a "Mutual Insurance Company" such as AMICA?

AMICA never turns a profit because it's owned by
all of the policy holders.

At the end of each fiscal year, they cut rebate
checks back to the policy holders for the amount
of excess premium they collected over the year
(that is, the premiums that weren't spent on
payouts and office expenses).

Without looking it up, it seems to me that the
rebate averages 20-25% of the premiums paid in.

Tesha

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Broderick

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Mon Aug-29-11 06:02 PM
Response to Original message

2. HA

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