‘Use It and Lose It’ Homeowners Coverage

[Brian Anderson]

Do you ever get blowback from clients about their homeowners rates skyrocketing or their policies are not renewed not long after they file a claim? A new report from Rutgers Law School examines which states are best and worst when it comes to protecting consumers from these so-called “Use It and Lose It” penalties.

Rhode Island and Texas are best about protecting consumers, the report says, while 18 states have no explicit protection against “Use It and Lose It.” Complete state ratings can be found at the link below.

Insurance Forums | Report aims to put a stop to

 

[pfg1]

And again... Virginia sucks when it comes to insurance.

 

[LostDollar]

Looks like Kansas is right there with you.

I believe my former home coverage carrier, Kemper, left Kansas entirely a few years ago after somewhere between 2 and 4 years of steadily increasing wind damage claims in the state.

 

[PhilL]

Do you ever get blowback from clients about their homeowners rates skyrocketing or their policies are not renewed not long after they file a claim? A new report from Rutgers Law School examines which states are best and worst when it comes to protecting consumers from these so-called “Use It and Lose It” penalties.

Rhode Island and Texas are best about protecting consumers, the report says, while 18 states have no explicit protection against “Use It and Lose It.” Complete state ratings can be found at the link below.

Insurance Forums | Report aims to put a stop to

Very interesting share. Thank you.