Insurance Rates ... was disturbing Sprint policy facts, learned the hard way

"Justin Green" <[email protected]> wrote in message
news:[email protected]...
>
> "Bob Smith" <[email protected]> wrote in message
> news:[email protected]...
> >
> > "Richard Zellmer" <[email protected]> wrote in message
> > news:[email protected]...
> > > Yes but filing an insurance claim for a $300 phone is a stupid idea.
It
> > > puts a record in the C.L.U.E database which is like your credit report
> but
> > > for insurance. If you file a $300 phone claim it will cost you
> thousands
> > > later in higher fees.
> > >
> >
> > Bull**** ... I'm an agent myself and if there's no high frequency of the
> > number of claims on the policy, it won't have an effect on the rates.
> >
> > Bob
>
>
> Too bad that's not true for auto insurance. In eleven years of driving,
> I've had one no fault collision. They filed a claim and my insurance went
> up.

That could of happened from a number of factors, and not just your accident,
from the amount paid on your loss, whether it was a no fault claim is
irreverent. It was paid, and depending on your three year loss history,
premium paid in those three years, and the loss ratio determined between
premiums paid and losses paid out, the rates could have gone up, just
because of a major loss, on both the liability and property lines of
coverage.

It could be the reinsurer raising their rates to the carrier providing your
coverage. This a common occurrence in all lines of coverage since 9-11 took
place.

Your carrier could have experienced high loss ratios on earned premiums in
your state. Or ... the state allowed the rate increase, because of the over
all auto loss ratios for all carriers in the state.

Bob

---

› See More: Insurance Rates ... was disturbing Sprint policy facts, learned the hard way

On Fri, 05 Sep 2003 15:26:35 +0000, Bob Smith wrote:

> That could of happened from a number of factors, and not just your
> accident, from the amount paid on your loss, whether it was a no fault
> claim is irreverent. It was paid, and depending on your three year loss
> history, premium paid in those three years, and the loss ratio determined
> between premiums paid and losses paid out, the rates could have gone up,
> just because of a major loss, on both the liability and property lines of
> coverage.

Speaking only for Florida, the amount paid out on a claim is not a factor
in the amount you are charged for your auto insurance.