Homowner's Policy

[Mavrik]

I'm in Florida and I'm completely frustrated with my homeowner's insurance agent. Her office has dropped the ball several times over the past 2 year blaming inept office help that she claims has been fixed. Since I work in the business, I've tried to be understanding but the amount of time I've had to put into doing her job is ridiculous and it's potentially going to cost me additional premium. I've learned more about my homeowner's policy than I wanted so its a blessing and a curse. In years past, I would speak to my agent once a year. Over the past 2 years, I've spent more time on the phone trying to fix stupid mistakes that lead to the carrier threatening to cancel me mid year if I didn't pay a 20% increase above my original premium. Please help this Life Agent understand how to fix his homeowner's insurance.

The agent quoted me last spring and I payed the annual premium in full. Then all of a sudden I got a notice from the carrier six months later saying I owed an additional amount of premium or my policy would be cancelled in 30 days. I immediately contacted the agent. It took a month before they got things straightened out and blamed an inept office employee for using the wrong quoting software. She went on to say they would straighten it out at renewal time. I didn't realize at the time this probably meant they were going to pay the charge in October and recoup it from me when I renewed my policy this spring. I should have left them right there but I figured I would give them the next six months to fix things out and it would be easier to shop around when the policy came up for renewal.

In the mean time, I've continued to get frustrated with them so contacted a few local agents. Surprise - I'm getting quotes for rates that are 50-70% of what I'm currently paying. My goal is to not be out of pocket any money over and above what I was quoted for last year's policy. Should I be concerned about the types of carriers competitive agents are quoting if the rates are so much less? Is my current carrier required to tell me what my refund will be, what any early cancellation fees are, and any remaining premium balance that will be deducted from any refund I request if I tell them I'm cancelling the policy immediately? Does it hurt me to leave carriers every few years?

Thanks for your help.

 

[CraggyFraggy]

I will address one of your concerns. As an agent, I see "quotes" from competitors that fail to compare apples to apples, which of course can be quite confusing when trying to identify your best option-that can be a main factor of premium discrepancies.

Not to defend your current agent (because she should know), but some quotes can have premium changes after binding because a credit report hasn't been run until that point.

 

[fearsback]

I'm in Florida and I'm completely frustrated with my homeowner's insurance agent. Her office has dropped the ball several times over the past 2 year blaming inept office help that she claims has been fixed. Since I work in the business, I've tried to be understanding but the amount of time I've had to put into doing her job is ridiculous and it's potentially going to cost me additional premium. I've learned more about my homeowner's policy than I wanted so its a blessing and a curse. In years past, I would speak to my agent once a year. Over the past 2 years, I've spent more time on the phone trying to fix stupid mistakes that lead to the carrier threatening to cancel me mid year if I didn't pay a 20% increase above my original premium. Please help this Life Agent understand how to fix his homeowner's insurance.

The agent quoted me last spring and I payed the annual premium in full. Then all of a sudden I got a notice from the carrier six months later saying I owed an additional amount of premium or my policy would be cancelled in 30 days. I immediately contacted the agent. It took a month before they got things straightened out and blamed an inept office employee for using the wrong quoting software. She went on to say they would straighten it out at renewal time. I didn't realize at the time this probably meant they were going to pay the charge in October and recoup it from me when I renewed my policy this spring. I should have left them right there but I figured I would give them the next six months to fix things out and it would be easier to shop around when the policy came up for renewal.

In the mean time, I've continued to get frustrated with them so contacted a few local agents. Surprise - I'm getting quotes for rates that are 50-70% of what I'm currently paying. My goal is to not be out of pocket any money over and above what I was quoted for last year's policy. Should I be concerned about the types of carriers competitive agents are quoting if the rates are so much less? Is my current carrier required to tell me what my refund will be, what any early cancellation fees are, and any remaining premium balance that will be deducted from any refund I request if I tell them I'm cancelling the policy immediately? Does it hurt me to leave carriers every few years?

Thanks for your help.

Hello I am a Florida P&C agent and I can tell you a majority of the time we see quotes the coverage is normally completely different. With that said sometimes you might not need all the additional coverage's but it should be something the new agent should explain to you in the differences from your current policy. There is several times we have save the insured over 50% from there current rate and it is normally the current agent not giving credits for an inspection or putting on coverage that the insured does not need. If you would like me to review both quotes and let you know the difference I would have no problem with that. Thank you and good luck.

 

[agentinsouth]

I'm in Florida and I'm completely frustrated with my homeowner's insurance agent. Her office has dropped the ball several times over the past 2 year blaming inept office help that she claims has been fixed. Since I work in the business, I've tried to be understanding but the amount of time I've had to put into doing her job is ridiculous and it's potentially going to cost me additional premium. I've learned more about my homeowner's policy than I wanted so its a blessing and a curse. In years past, I would speak to my agent once a year. Over the past 2 years, I've spent more time on the phone trying to fix stupid mistakes that lead to the carrier threatening to cancel me mid year if I didn't pay a 20% increase above my original premium. Please help this Life Agent understand how to fix his homeowner's insurance. The agent quoted me last spring and I payed the annual premium in full. Then all of a sudden I got a notice from the carrier six months later saying I owed an additional amount of premium or my policy would be cancelled in 30 days. I immediately contacted the agent. It took a month before they got things straightened out and blamed an inept office employee for using the wrong quoting software. She went on to say they would straighten it out at renewal time. I didn't realize at the time this probably meant they were going to pay the charge in October and recoup it from me when I renewed my policy this spring. I should have left them right there but I figured I would give them the next six months to fix things out and it would be easier to shop around when the policy came up for renewal. In the mean time, I've continued to get frustrated with them so contacted a few local agents. Surprise - I'm getting quotes for rates that are 50-70% of what I'm currently paying. My goal is to not be out of pocket any money over and above what I was quoted for last year's policy. Should I be concerned about the types of carriers competitive agents are quoting if the rates are so much less? Is my current carrier required to tell me what my refund will be, what any early cancellation fees are, and any remaining premium balance that will be deducted from any refund I request if I tell them I'm cancelling the policy immediately? Does it hurt me to leave carriers every few years? Thanks for your help.

Since fearsback is in Florida, I would exchange numbers and have him quote you.
Regarding early cancellation fee etc... personal lines P&C, via insurance commissioners, can't have those fees you asked about.