Quote:
Originally Posted by Skip
I thought that too but years ago a friend in the business told me most states have laws that prevent insurance companies from "introductory rates" (like cable TV, etc.). They are not allowed to quote $500 for the first year or two, then jack you up to $700, then $900 after that. The rate is supposed to be based on RISK (not be an income REWARD). Anyone know what the insurance law is in Florida? Former insurance sales agents out there, reading this?
Skip
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Skip, you might be right but it used to be the way I said. In fact I just traded in my 2018 Ford Escape for a 2021 Ford Edge & my new Ins. rate they said it would be $20.47 a yr. cheaper. Don’t know how they came up with $20.47. One reason I said what I did was because Florida & TX. where I live now are both a No Fault States. So the person at fault & the person that hit make their own claims.Here in TX. if you turn a claim in, Ins. skyrockets. My granddaughter was paying $8??.00, when she put a claim in it went to $1,200. a yr. So what I’m saying is if it’s drivable drive it & don’t turn in a claim. If you find out from an agent, post it here on TOTV, I would like to know. No Fault Ins. is a no win for the client & a gain for Ins. Co. I’m originally from Ohio & if you’re at fault there, you pay. Interesting subject!