Insurance - Increase Every Year About $100
Is it reasonable to expect a $100 increase in insurance every year? That is normal for us. Last year it went down about $100 because we researched and devalued our 2009 coach so we saved $100. But pr...
Forum Discussion
Part of the cost is the sales agent's commission and they can set a higher price so as to get a higher comission in some places I suspect.
Another thing is not many companies actually INSURE. most are re-sellers so let's say you buy from Big name INsurance Company #1 and they sell the policy to "re-insurer #1
Somebody else buys from BNC2 and they too sell to RIC 1
Someone else buys from BNC3 and they too sell to RIC1
Someone else buys from BNC 4 and they carry their own paper
Something major happens (Think 9-11-2001) and RIC one gets hit big time.
BNC4 has a 2000 dollar claim,, Just one.
As you can guess BNCs 1-3 are gonna be raising their rates.
Source: an Agent for BNC#4 (BNC is big name company of course and no I won't name the firm)
Another thing is not many companies actually INSURE. most are re-sellers so let's say you buy from Big name INsurance Company #1 and they sell the policy to "re-insurer #1
Somebody else buys from BNC2 and they too sell to RIC 1
Someone else buys from BNC3 and they too sell to RIC1
Someone else buys from BNC 4 and they carry their own paper
Something major happens (Think 9-11-2001) and RIC one gets hit big time.
BNC4 has a 2000 dollar claim,, Just one.
As you can guess BNCs 1-3 are gonna be raising their rates.
Source: an Agent for BNC#4 (BNC is big name company of course and no I won't name the firm)
