Why Are My Insurance Rates Going Up?
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The question is, why is my insurance going up? Well, there’s a couple reasons for that. On auto insurance, if you get a ticket or an accident, that’s one reason.
But one of the other reasons is last year in the United States was the fourth largest pay out on insurance claims. So insurance companies have been paying out a lot of money for all the claims, for all the disasters that had been going on around the country. So what happens is they pass it on to the consumer.
The other thing that I was at the insurance convention last week in Kearney for the Big I. And one of the instructors was talking about fraud with insurance.
They estimate insurance companies pay out at least $80 million in fraudulent claims. What that breaks down to, it costs me and you about $400 to $700 a year extra on our insurances because of fraud.
So just turning in a claim and getting paid for things that you’re not supposed to cost everybody. So that’s why my rates are going up or new rates are going up is because of two of them big factors.
So if you have any other questions give us a call at New Frontier and we will be sure to answer those for you.
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