Insurance claims filing too much car for insurance or home can be expensive

Tamara e. Holmes
Even if insurance housing or car can offer peace of mind when unexpected damage occurs, the deposit of too many claims in a short period of time can cause insurers to raise your premiums or, in some cases, not to renew your policy at all.
The object of insurance is to pay for the disasters that would bring financial ruin to most people, according to the Insurance Information Institute. Is not intended to pay for the repair of all days. If a lessee sought to recover the money from a multitude of minor mishaps, insurers are likely to raise premiums for the lessee to get their money, a fact which do not realize many policyholders, Pennsylvania Insurance Commissioner Michael Consedine said.
Consedine warns insurance underwriters home that they might be better to pay for repairs loss if they have already filed a claim in the last two years, since many insurance companies require an increase in so many claims are filed during a period of three or five years.
Too much insurance claims House or car in a relatively short period of submission can affect your status as a licensee.
In some cases, policyholders may find themselves without a policy at all after too many claims. There are three ways that an insurance company may file a policy:
? Cancellation is your policy is the end while the policy is in effect.
? Cancellation is when your policy is not only started late, but it is cancelled the first day of the period of coverage and the policyholder money is refunded.
? Non-renewal is when an insurer chose not to extend your policy beyond the expiry date.
To cancel or not to cancel
Laws vary from State to the other the reasons acceptable for an insurer to cancel or not renew a policy of insurance or automobile. Some States have restrictions on the cancellation or the recession. For example, in Pennsylvania, it is illegal for an insurer cancel Insurance House claims or loss history.
However, when it comes to an insurer by choosing not to renew a policy, the rules in some States may be more lenient. For example, in Maine, the insurer must have "a good faith reason" who is "connected to the insurability of the property" not renew a policy of insurance of goods. Similarly, insurers in this State may decide against renewing an auto insurance if a driver has had two or more accidents in three years, which resulted in bodily harm or property damage exceeding $1,000 for each accident.
This is what happened to Mike Seney of Oklahoma City, Oklahoma, several years ago. First of all, Seney car was stolen and found trashed. About a month later, newly licensed son was involved in an accident with the new family car. A month after, son of Seney was a passenger in a car accident and ends up with a back injury major and coverage of uninsured family kicked in.
"Within a period of three months, the insurance company had three claims for losses on us," said Seney.
As a result, the insurer that Seneys had used more than 20 years did not renew their auto insurance. Although they have easily found another insurer, "we had to pay a little more," said Seney.
Use of the consumer
If your insurer terminate your coverage, check with your insurance-regulator to ensure that it was done legally. If you think that the insurer had no legal grounds to do so, you can file a complaint.
For example, in Pennsylvania, the staff of the State of Insurance Department consumer services will launch an investigation, Melissa Fox spokesman, said.
"If the insurance company has been following the letter of the law in the non-renewal, the decision will be upheld." If, however, our unit discovers that the non-renewal did not follow Pennsylvania State insurance laws and regulations, the policy may be reinstated, "says Fox."
If you have filed a large number of claims and think that you will win a new start with a new insurance company, think again. Insurers can get an idea of the historical past of consumer auto insurance claims by watching his driving record. When it comes to property damage, databases such as the CLUE home of LexisNexis seller disclosure report tracks losses of insurance to a specific address for the previous five years, regardless of insurance provider.
The moral of the story: each claim you deposit can influence the price you pay for insurance in the future.
Although there are some cases when an application cannot be avoided, examine the long-term implications prior to the filing of applications that you can financially handle yourself, said Consedine.

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