There is a hurricane "season" after all! A law should be made that non season months we are not charged and they cannot raise the payment for the hurricane season months once the other non hurricane season months are dropped.
2006-11-13 09:22:33 · 9 answers · asked by nobodiesinc 1 in Business & Finance ➔ Insurance
While you may not want to pay for the coverage throughout the year, you may find that waiting until just before hurricane season would mean two things:
1. Coverage may not take effect quickly enough to actually protect you from a loss; and,
2. You could end up paying a year's worth of premiums in a much condensed time period, as the insurer still has to cover their level of risk, regardless of when you come on board and get insurance.
While I would also agree that insurance is an industry that loves to find ways to charge you more money, in some cases it actually makes sense. In my mind, this is one of them.
2006-11-13 11:47:57 · answer #1 · answered by MoniqueLise 3 · 0⤊ 0⤋
Well, hurricanes don't necessarily follow the law. Last year we had one hit the Florida area AFTER hurricane season.
If you want to drop your wind coverage, go ahead - but because most people understand that hurricanes can't read a calendar, they choose to divide the cost throughout the whole year. Because of that, if you cancel partway through the year (after all, 95% of the rate is just to cover 4 months, ya know?) you DON'T get a refund.
It's kinda like saying, ok, I don't drive my car between 11pm and 6am, so I don't want to pay for insurance during those hours . . .
Also, you DON'T have to carry hurricane insurance at all!! Oh, that is, IF you own your house all by yourself. If you've borrowed money, well, then you need to follow the loan agreement. If you own less than 50% of your house, well, the bank has more reason to worry than you.
2006-11-13 13:51:16 · answer #2 · answered by Anonymous 7 · 0⤊ 0⤋
You should pay for hurricane insurance because you never know what could happen. Your home needs to be protected in case of an unfortunate instance as this!
If you do not have the coverage you could really suffer in the long run especially if you live in an area that is a high risk.
Check out the links below.....Hope this info is helpful.
2006-11-13 09:29:52 · answer #3 · answered by ye 4 · 0⤊ 0⤋
What if you just happened to have a hurrican during the non-season months? It's kinda like health insurance: you have to pay it even if nothing is ever gonna happen to you
2006-11-13 09:27:20 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Your logic is slightly flawed here. This is like saying you only want to insure your car from 6a.m.to 7p.m. because those are the only times you drive your car. Also, there would be a huge problem when a hurricane hit during the off season.
2006-11-13 12:27:43 · answer #5 · answered by bbumple 2 · 0⤊ 0⤋
It might be that they think its better to spread the payments out over the year rather than have a few much bigger payments hit people during the actual hurricane season.
2006-11-13 09:25:29 · answer #6 · answered by jxt299 7 · 1⤊ 0⤋
I don't know of any Insurance company that insures
so many months a year. Besides, even if you do recieve
damage from a Hurricane, your chances of collecting
are impossible. Just ask anyone from Katrina Land.
2006-11-13 09:33:11 · answer #7 · answered by Precious Gem 7 · 0⤊ 0⤋
i'm in Tn besides, 40 8 male I surely have complete coverage on a 2004 F-one hundred fifty alongside with criminal accountability on 1991 F-one hundred fifty. additionally Comp on a shuttle trailer. I pay $215 each 3 months. So, sure, it extremely is severe. could I recommend Farm Bureau.
2016-12-14 06:34:45 · answer #8 · answered by ? 4 · 0⤊ 0⤋
nice try
insurance companies LOVE to price gouge
ex: I own a classic car
I store it from October->late April
I should have to only pay full coverage/collision the months I drive it and pay a less rate when out of season..
insurance Companies could care less
2006-11-13 09:26:12 · answer #9 · answered by Mopar Muscle Gal 7 · 0⤊ 0⤋