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Old 06-23-2019, 08:08 AM   #1
LAFLER5
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Default Can an insurer increase my auto and home rate if I was found guilty?

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Can an insurer increase my auto and home rate if I was found guilty of minor/petty larceny under 100 dollars?

Thank you!
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Old 06-23-2019, 10:39 AM   #2
adjusterjack
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Default Re: Can an insurer increase my auto and home rate if I was found guilty?

Yes.

Insurance underwriters use a variety of criteria to establish eligibility and rates.

Someone who steals would not be averse to committing insurance fraud.
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Old 06-23-2019, 12:07 PM   #3
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Default Re: Can an insurer increase my auto and home rate if I was found guilty?

I wish to inform you that reliability and trustworthiness are important criteria considered by the underwriter in insurance coverage.

AFF
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Old 06-23-2019, 12:37 PM   #4
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Quote:
Originally Posted by AFFA View Post
I wish to inform you that reliability and trustworthiness are important criteria considered by the underwriter in insurance coverage.

AFF
The conviction could also alter your credit score, which insurers also can use.
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Old 06-26-2019, 04:51 AM   #5
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Default Re: Can an insurer increase my auto and home rate if I was found guilty?

I think they can raise rates for just about any reason they want as I understand it.
It certainly has been the case with my rates.
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Old 06-26-2019, 09:04 AM   #6
adjusterjack
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Default Re: Can an insurer increase my auto and home rate if I was found guilty?

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I think they can raise rates for just about any reason they want as I understand it.
It certainly has been the case with my rates.
There are two reasons that insurance companies raise rates.

1 - Individual surcharges for accidents and citations.

2 - Money - The desire to be more profitable.

If you don't like your rate increases you are welcome to shop around for more competitive rates on renewal.

Insurance companies do like to make lots of money but they don't want to lose business to other insurance companies. The rate wars are cyclical. You can take advantage of the cycles by changing companies for lower rates when appropriate. That'll keep you for a couple of years until some other insurance company becomes more competitive.

Unfortunately, for that to work you need to be a very careful driver and avoid getting citations and causing accidents.
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Old 06-26-2019, 12:44 PM   #7
Lexus
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There is no obligation to buy the insurance from the same company. You should bargain for the best rate.
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Old 06-26-2019, 04:28 PM   #8
Highwayman
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Default Re: Can an insurer increase my auto and home rate if I was found guilty?

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There is no obligation to buy the insurance from the same company. You should bargain for the best rate.
Gee, you don't say...
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