Homeowners Isurance Was Raised Six Month in a 1 Year Term.

[strat751]

Homeowners insurance was raised 35% after six months in a 1 year policy. Policy was renewed in April just checked my escrow account and noticed the charge to the account, in the mail the same day got the policy declaration showing the change in premium. Contacted agent and he gave me the rundown on what happened and why the policy was changed of course I made him aware that I was not happy with the change.

My question is can they do this after 6 months into a policy?

Background no claims except for a towing claim, have been with this company for 5 years, 1 1/2 on this homeowners policy, 8 policies total with this company.

 

[NCAgent]

Homeowners insurance was raised 35% after six months in a 1 year policy. Policy was renewed in April just checked my escrow account and noticed the charge to the account, in the mail the same day got the policy declaration showing the change in premium. Contacted agent and he gave me the rundown on what happened and why the policy was changed of course I made him aware that I was not happy with the change.

My question is can they do this after 6 months into a policy?

Background no claims except for a towing claim, have been with this company for 5 years, 1 1/2 on this homeowners policy, 8 policies total with this company.

Depends on the reason why. if the property was inspected and there was incorrect information on the policy (better protection class, larger square footage, more replacement cost, different county, etc.) then the insurance company will correct it and charge you accordingly. I had that issue with Chubb where the construction was different than I put down there and the RC went up substantially, so the premium went u.

If it happened 6 months in, the insurance company probably tried doing it during the first 60-90 days and it is just now catching up.