Quote:
Originally Posted by Biggd
All insurances have gone through the roof. If you put in a claim they look for any loophole not to pay. They have been hammered with loses down South so everyone pays more and gets less!
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In auto insurance, rates are higher, but not for hurricane damage.
Rates have doubled or tripled because of:
1) the requirement (elsewhere) to carry auto insurance.
2) the need to protect oneself from the "Uninsured Driver".
3) protection from fraudulent injury claims, often instigated by other drivers.
4) the explosion in carjacking (statistics lowered by calling such events "larceny").
5) recent cases where driver licenses can be purchased (as seen in the
Boston Globe).
6) in recent years, millions of driver licenses have been "granted".
State Farm abandoned Florida after Hurricane Andrew; however, I've stayed with
State Farm Auto since I started driving because, although they're expensive, they're also impressively generous with their payouts.
Be also advised that one popular insurance company "re-invests" premiums into noxious programs.