I am looking for a new home owners insurance company. My current carrier Ohio Casualty group is getting outrageous with their premium.
Any and all suggestions would be appreciated, my premium jumped 800.00 this year from 1700.00 to 2500.00.
The jump in premium can relate to many different things, not the least of which happens to be "replacement cost" which is not un-related to market prices. (That is to say, what coverage you have and all those good things.)
It can also reflect claims experience, both yours and the neighborhood... that is to say, the company's overall experience in any given area.
We have worked through a broker for years who has moved us from one company to another every couple of years. A good insurance broker, like a financial planner, works for you, not the company.
Some of the changes reflect the fact that certain companies have decided they don't want to write insurance in a particular area and therefore jack up the premiums to discourage renewals. Others reflect consolidation in the Insurance industry itself. Our last two changes were a direct result of one company being purchased by another, and the new company's "underwriting principles" kicking in at renewal time.
Right now we're with Travelers.
T.T.F.N. William H. Magill [EMAIL PROTECTED] [EMAIL PROTECTED] [EMAIL PROTECTED] [EMAIL PROTECTED]
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