To: The United States House of Representatives
Stop Insurance Company Rip Off
Tell Congress to Stop the Homeowner Insurance Rip Off. Consumers should have a choice in the type and amount of coverage they wish to carry according to what they can afford. Homeowners should not have it forced upon them by the insurance companies in the form of replacement costs to justify higher premiums.
Require Insurance Companies to fully disclose what is not covered on an individual policy.
Require Insurance Companies to fully disclose what is not covered on an individual policy.
Why is this important?
Insurance companies are constantly raising their rates on homeowners' property coverage even when they have paid the premium for years with no claims. Policyholders often find out when they do have a claim, certain conditions are not covered. The policy should highlight fully the things or conditions not covered so the consumer knows what they are paying for. This should be true for home warranties as well. In recent years, insurance companies have been allowed to base their homeowner premiums on replacement costs so they can get the most money possible from the consumer. The consumer should have a choice in this matter where they currently do not. Whether you own or rent you are affected by these high costs. In case of renters, property owners must pass these costs on in the form of higher rents.