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Old 03-27-2017, 06:58 PM
 
19,491 posts, read 17,717,036 times
Reputation: 17024

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Quote:
Originally Posted by ThomasCrown View Post
Your insurance guy is feeding you a line of bull.

Most homeowners have a discount applied to their policy for being claim free, which can be 5-10% typically.

Having an incident reported on the CLUE report has now cost you that 5-10% discount, as well as counting against you if you are shopping for another insurance firm.
Stop it.

1. My friend has been in the business for over 40 years.
2. My wife is in the insurance business, on the IT side, and has been for not quite 20 years.
3. My wife's boss founded his company out of a suitcase in 1965.

They all say you are wrong. I'm siding with them.
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Old 03-27-2017, 06:59 PM
 
19,491 posts, read 17,717,036 times
Reputation: 17024
Quote:
Originally Posted by TheOverdog View Post
We filed a claim last year, and our insurance went up by $140 or so this year. Hardly worth deciding to file a claim or not, considering that nearly everyone else on our street did as well.
And that, if you understand statistics even a little, is a different point.
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Old 03-27-2017, 10:18 PM
 
3,754 posts, read 4,169,505 times
Reputation: 7773
Quote:
Originally Posted by EDS_ View Post
Stop it.

1. My friend has been in the business for over 40 years.
2. My wife is in the insurance business, on the IT side, and has been for not quite 20 years.
3. My wife's boss founded his company out of a suitcase in 1965.

They all say you are wrong. I'm siding with them.
Uh, I also said premiums will go up, because I've had it happen to ME first hand.

Just because you're saying what other people have said (supposedly), doesn't make it true. You're a second hand source and are no more credible than ThomasCrown. Pretty hard to believe you dragged your wife's boss into an argument you're having on the internet, isn't it?

I know for myself, I reported a claim back in 2013 for a portion of my fence being blown down and possible hail damage. Inspectors came out, no hail damage, and the cost to replace a section of my fence wasn't worth paying the deductible. No claims were paid, but I now had a record of making a claim. When I switched companies the following year, they asked if I had made any claims, I said no. They quoted me a price, and then when they researched my home, they found that I HAD made a claim. Now my quoted premium went up almost $200.

So don't say it doesn't happen. It sure as hell does.
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Old 03-27-2017, 11:05 PM
 
19,491 posts, read 17,717,036 times
Reputation: 17024
Quote:
Originally Posted by Katana49 View Post
Uh, I also said premiums will go up, because I've had it happen to ME first hand.

Just because you're saying what other people have said (supposedly), doesn't make it true. You're a second hand source and are no more credible than ThomasCrown. Pretty hard to believe you dragged your wife's boss into an argument you're having on the internet, isn't it?

I know for myself, I reported a claim back in 2013 for a portion of my fence being blown down and possible hail damage. Inspectors came out, no hail damage, and the cost to replace a section of my fence wasn't worth paying the deductible. No claims were paid, but I now had a record of making a claim. When I switched companies the following year, they asked if I had made any claims, I said no. They quoted me a price, and then when they researched my home, they found that I HAD made a claim. Now my quoted premium went up almost $200.

So don't say it doesn't happen. It sure as hell does.
Call your insurance guy/gal and have them explain why your rate went up with the second carrier. And then report back here with an apology if you can muster the decency to do so.

1. I don't ever lie about anything.
2. Two of my friends, one of them happens to be my wife's boss, are lifer insurance guys who I happen to have drinks with almost every Monday. If a read something that rings hollow regrading insurance who better to ask especially when they happen to be within earshot?


One property claim can cause your premiums to soar by hundreds of dollars - Oct. 19, 2014

About 7 paragraphs down................

"Meanwhile, homeowners in Texas, where insurers are not allowed to raise premiums on the basis of a single claim, saw no increase. And homeowners in New York and Massachusetts paid very little more after filing claims."
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Old 03-28-2017, 09:10 AM
 
Location: garland
1,591 posts, read 2,389,187 times
Reputation: 2003
Rate will not go up because of a no-loss claim on the CLUE report or for a single incident claim (as referenced by EDS above from paragraph 7) but they can (and will) increase the rate for the entire area based on weather related incidents. They can't adjust a single policy holder but they can adjust an entire zip code. Agents know this and are very careful when answering direct questions so you have to ask the right one.


What the no-loss claim on the CLUE report WILL affect is the owners ability to negotiate better rates with another underwriter if they choose to switch insurance companies or if they purchase a new property within a given time frame that requires property insurance. The CLUE report tells the insurance company that the applicant has a great probability to file a claim than someone who has a clear record so they adjust their risk exposure accordingly.


I trust first hand experience from a property owner over a red-nosed agent on the golf course any day.
The only way to make sure your rates are the lowest possible is to never speak to your agent other than to ask them where to send their check.
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Old 03-28-2017, 09:40 AM
 
77 posts, read 132,688 times
Reputation: 100
Quote:
Originally Posted by TheOverdog View Post
We filed a claim last year, and our insurance went up by $140 or so this year. Hardly worth deciding to file a claim or not, considering that nearly everyone else on our street did as well.
Insurance rates will go up this year whether or not you made a claim as there were lot of claims in Dallas last year due to severe weather.

Also, it is good to wait before replacing the roof till the hail season ends (end of June) as there is potential for more severe weather. Insurance work needs to be completed within 1 year of the actual incident so you will have enough time to complete the repair.
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Old 03-28-2017, 09:43 AM
 
3,754 posts, read 4,169,505 times
Reputation: 7773
Quote:
Originally Posted by EDS_ View Post
Call your insurance guy/gal and have them explain why your rate went up with the second carrier. And then report back here with an apology if you can muster the decency to do so.
I see reading comprehension isn't your strong suit. My post couldn't have been any clearer. I was given a rate from a NEW insurance carrier. Once they found out a claim had been made, my rate went up SOLELY BASED ON THAT CLAIM. They are allowed to do that, because I wasn't a current client of theirs. You got that part figured out now?

Quote:
Originally Posted by EDS_ View Post
"Meanwhile, homeowners in Texas, where insurers are not allowed to raise premiums on the basis of a single claim, saw no increase. And homeowners in New York and Massachusetts paid very little more after filing claims."
LOL Oh man, talk about not getting the big picture. Yeah... I called in about possible hail damage and my fence blown over. You think I was the only one? Hahaha! The reason I was shopping around was because my rates were increasing, by about 15%. They raised everyone's rates in my area due to the number of claims. It wasn't a single claim.
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Old 03-28-2017, 09:46 AM
 
3,754 posts, read 4,169,505 times
Reputation: 7773
Quote:
Originally Posted by jdallas View Post
Rate will not go up because of a no-loss claim on the CLUE report or for a single incident claim (as referenced by EDS above from paragraph 7) but they can (and will) increase the rate for the entire area based on weather related incidents. They can't adjust a single policy holder but they can adjust an entire zip code. Agents know this and are very careful when answering direct questions so you have to ask the right one.


What the no-loss claim on the CLUE report WILL affect is the owners ability to negotiate better rates with another underwriter if they choose to switch insurance companies or if they purchase a new property within a given time frame that requires property insurance. The CLUE report tells the insurance company that the applicant has a great probability to file a claim than someone who has a clear record so they adjust their risk exposure accordingly.


I trust first hand experience from a property owner over a red-nosed agent on the golf course any day.
The only way to make sure your rates are the lowest possible is to never speak to your agent other than to ask them where to send their check.
Bingo.
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Old 03-28-2017, 09:50 AM
 
19,491 posts, read 17,717,036 times
Reputation: 17024
Quote:
Originally Posted by Katana49 View Post
I see reading comprehension isn't your strong suit. My post couldn't have been any clearer. I was given a rate from a NEW insurance carrier. Once they found out a claim had been made, my rate went up SOLELY BASED ON THAT CLAIM. They are allowed to do that, because I wasn't a current client of theirs. You got that part figured out now?



LOL Oh man, talk about not getting the big picture. Yeah... I called in about possible hail damage and my fence blown over. You think I was the only one? Hahaha! The reason I was shopping around was because my rates were increasing, by about 15%. They raised everyone's rates in my area due to the number of claims. It wasn't a single claim.
Listen you can double down all you want.

Your bogus claims in post #4 are most of what I was responding to.
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Old 03-28-2017, 09:59 AM
 
3,754 posts, read 4,169,505 times
Reputation: 7773
Quote:
Originally Posted by EDS_ View Post
Listen you can double down all you want.

Your bogus claims in post #4 are most of what I was responding to.
Since it actually happened, they're not bogus. Not my problem you want to believe whatever you're told by an insurance agent. It must be nice to have made it so long in life with such trusting innocence and naivete.
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