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Old 01-11-2017, 09:00 AM   #19
BandB
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City: Fort Lauderdale. Florida, USA
Join Date: Jan 2014
Posts: 21,449
It's all about actuarial data, except when it isn't. lol

Insurance companies claim one day that it's about the long term history and the fact there hasn't been a huge storm doesn't change that much, but then along comes a hurricane, first in years. They pay out claims. Up go rates. Some more than others.

Another "law" of insurance or really many things. When you go out and find the cheapest, it's likely to have significant increases at some point. They can't long term remain less than everyone else, nor do they really want to be substantially less.

I've also found the larger the insurer, the less volatile the rates, because they're impacted less by a single event or by a single part of the country or the world.

I do encourage all to have a good broker working on their behalf and suggesting to me to drop parts of my coverage isn't what I want from my broker. I live 50 nm from the Bahamas so not going to drop it. I live in FL so not going to drop it.
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