True or Urban Insurance Myth?

[babymakesone]

I've hear that insurance companies will drop homeowners at the drop of a hat, for minor claims, too many in a 5 year period, or becuase someone who used to own the house filed a claim...or they will require outrageous repairs like a new roof in order to keep the policy in force. Is this truly an epidemic as I've read on some sites...or are there just a few horrible cases out there? Are there any sites that rank HO companies by best customer service/least likely to drop? Thanks for any words of wisdom

A lot of what an insurance company looks at is the history of the claims. Is there a claim every year when the premium is due? In the last 3 years, has the insured had claims that equal or are above the annual premium?

As for the previous homeowner question...we just had a CLUE report come back with a claim that was filed by the previous homeowner. The report was ran on the property address. The claim was for over $20k...no company would take them even though the new homeowner had no claims.

http://www.ambest.com/

A.M. Best is what rates a company. You never ever want to do business with a company with a low rating.

 

[rmbeverlin]

Yep.. they do it in FL too. It should be made ILLEGAL!! Maybe we should all make a petion for "Guidlines" the insurense companies must follow.