An administrative judge has ruled that the discount forms used by the state’s property insurers are flawed. In a ruling that could potentially rock the entire homeowners insurance industry in Florida, an administrative judge has deemed the forms used by property insurers throughout the state for the calculation of premiums discounts to be highly flawed and that they must be completely rewritten. The decision from the judge could lead to massive implications for policyholders in the state. Many residents of Florida have made special efforts to hurricane proof their homes…
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Homeowners insurance company consumer satisfaction has jumped significantly
A J.D. Power and Associates report credits policy bundling with happy customers. The latest J.D. Power and Associates report, called the 2012 National Homeowners Insurance Study, has just been released, and it showed that the satisfaction that customers have with their insurers is higher when their policies are bundled with other types of coverage. This is the twelfth time that this annual study has been performed. It is designed to provide a measure of the satisfaction that customers feel with their homeowners insurance companies by taking five different factors into…
Read MoreCalifornia ranks ninth in American auto insurance prices
According to a report by Insure.com, the residents of California experienced some relief in their auto insurance prices when they fell from $1,991 last year to $1,709 now. In 2011, California insurance rates held sixth place in the country for the most expensive annual car insurance premiums. However, this year it has dropped to ninth place. The report did not examine the reason that the prices fell. On the other hand, Louisiana remained in first place, where the average premium for coverage was $2,536 this year. The report claimed that…
Read MoreConsumer Watchdog chastises California’s Mercury Insurance for supposed illegal practices
Mercury is looking to raise its auto insurance rates by $89 million in California, a move that consumer advocates are calling “illegal.” Consumer Watchdog, a group concerned with making the California insurance industry more consumer friendly, claims that the insurer is looking to pass a new law that would allow it to raise rates for good drivers that have, simply, not driven for a period of time for any reason. Mercury Chairman George Joseph claims that the legislation the company is backing would save policyholders money, but Consumer Watchdog calls such…
Read MoreInsurer partners with the National Wildlife Federation for home and auto insurance discount program
The Hartford has announced that it will be offering partners, members, and supporters of the National Wildlife Federation with access to its home and auto insurance through a special discount program that will be available in the majority of states. Hartford’s president of consumer markets, Andy Napoli, stated that the insurer is pleased to be able to partner with the largest conservation federation in the country, which has now been protecting wildlife for 75 years. He added that The Hartford looks forward to providing members of the National Wildlife Federation…
Read MoreDo associations truly offer the best insurance rate discounts?
An investigation by Consumer Reports has shown that while some policies that are quoted through associations – AARP, for example – are often cheaper than rates quoted without a membership, many quotes received through associations are more expensive. Although many people automatically assume that they will be receiving a better price by receiving a quote through their membership with an organization, alumni association, or other group, this is not always the case. There may be perks to the membership, but this does not always include cheaper insurance. Consumer Reports gave…
Read MoreFlint Insurance announces new eco-friendly customer benefit initiative
Flint Insurance Private Clients Panel member, Zurich Private Clients, has announced its newest “green” environmentally friendly initiative as a new benefit for their customers. The eco-friendly effort will provide a benefit for enhanced fuel efficiency to customers with high net worth auto insurance. Included on the Flint Private Clients Panel are the leading insurance providers in the UK. They provide a range of different insurance products, from high net worth insurance to auto insurance. Zurich Private Clients is among the insurers on the panel that is considered to be an…
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