Wednesday, April 16, 2014
Interesting article, don't you think? My comment on the article is that it appears generalized on a federal level as each state has their own rules and regulations regarding insurance premiums. For example, in Texas, the Major Insurance companies have to petition the state for permission for rate increases. In my experience, I have seen rates drop upon renewal for some customers. While the Kathy Kristof, the Author, is a respected Financial Writer, and Robert Hunter is director of insurance at Consumer Federation of America, the article does say to check our your own State for more details. In fact, it warns you to do more investigation than make your decision on price alone. Your claims experience is, after all, why you have the insurance. In short, while this article may apply to some states exactly as written, in my opinion, it doesn't for the state of Texas. All insurance companies in Texas are required to use the same policy and there are heavy restrictions on discounts. Premiums in Texas are not negotiable. My clients not only get a stable company backing their claims, but the service on an Agent, me, that has former claims experience that will come in handy if there is a claim. In addition, my Agency contributes to charity and donates to the community. There is more to consider than premium alone.