No claims, no improvements, no work done to my house, but Nationwide increased my rate by 32%. I called to ask for an explanation and they said that that’s the “general increase” for my area.
I tried shopping around and I’ve already called a couple local brokers to no avail. I have already implemented smart house discounts, negotiated my deductibles.
Is there anything else I can do about this generalized increase? Any tips or phrases to say to help during my next call with Nationwide? My home is in a lower income neighborhood of Los Angeles but no risk of fire or floods.
Home insurance went up 32% because “that’s the general rate increase for your area”
byu/helpitstoomuch inInsurance
Posted by helpitstoomuch
1 Comment
There’s nothing you can do to change it. This is the direct result of California’s insurance commissioner blocking rate increases for years while catastrophic claims continued to happen. All of the companies that are staying in California are taking rate increases. It sucks but it’s fact. All you can do is shop around but the rate you have now might be the best you find.