The idea that insurers would provide better coverage if only they could raise premiums is ludicrous. Whether it's the Orwellian promise of "all risks" coverage at the time a policy is sold or "deny and delay" when a policyholder files a claim, most of the country endures a regime in which premiums have risen for policies that provide les…
The idea that insurers would provide better coverage if only they could raise premiums is ludicrous. Whether it's the Orwellian promise of "all risks" coverage at the time a policy is sold or "deny and delay" when a policyholder files a claim, most of the country endures a regime in which premiums have risen for policies that provide less and less coverage. So long as a for-profit industry controls access to the funds necessary to repair property, policies will cost more and coverage will shrink. If you live in a State that has to approve a premium hike, one of the things an insurer has to provide is the profit built into the proposed rate hike. Any owner of a small business would be shocked to see profits as high as 25% in those applications.
The idea that insurers would provide better coverage if only they could raise premiums is ludicrous. Whether it's the Orwellian promise of "all risks" coverage at the time a policy is sold or "deny and delay" when a policyholder files a claim, most of the country endures a regime in which premiums have risen for policies that provide less and less coverage. So long as a for-profit industry controls access to the funds necessary to repair property, policies will cost more and coverage will shrink. If you live in a State that has to approve a premium hike, one of the things an insurer has to provide is the profit built into the proposed rate hike. Any owner of a small business would be shocked to see profits as high as 25% in those applications.