Anonymous
Anonymous asked in Business & FinanceInsurance · 9 months ago

Insurance raised rate because they "made a mistake?"?

Recently received notice that my insurance company is raising my rate because they made a mistake and gave me the wrong rate in the first place. I am beyond angry with this, is there any way I can fight this?!

9 Answers

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  • zipper
    Lv 6
    9 months ago

    Yes, buy insurance from some other company. After getting quotes up front; pick the one with the best rate.

  • 9 months ago

    You can cancel the policy and find another company...that's your recourse.

    The states require the insurance companies to periodically pursue proper rates, meaning they run fresh reports (loss history, driver abstract, credit) to see if they are charging the correct rate.

    Any chance you applied and forgot to tell them about a few violations on your record??? If you bought your insurance online...this is fairly common.

  • Erik
    Lv 7
    9 months ago

    You can take your business elsewhere. That's pretty much it. Technically you SAVED money, because they charged you less. You actually came out ahead.

  • 9 months ago

    You can shop for a new policy. But, insurance isn't like a grocery store. It's regulated, so they can't "honor a rate" because they made a mistake. They have to charge the approved rate.

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  • 9 months ago

    They are not obligated to keep your rate low. What makes you think they are, just because they started it low?

  • 9 months ago

    Yes. Find a better deal and cancel this policy.

  • 9 months ago

    Not really. Unlike most companies, an insurance company does not have the option to cut you a break, and is required to charge the right amount in full, even if they want to charge less. The only thing you can do is to switch to another insurance company, but they will also have to charge the right rate.

  • 9 months ago

    It's not rocket science - Dump your insurance company.

  • Rick B
    Lv 7
    9 months ago

    sure. Get quotes from other companies and change your policy.

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