Dropped due to claims!

[Christopher Perry]

Hello All, 

I have found myself in a pickle due to a chain of events that resulted in an insurer choosing to drop me from coverage due to multiple claims from multiple properties. I have both policies in my name and have been hit with sticker shock going to market shopping for new coverage. 

Due to this bad luck, I am stuck thinking if there's another way of structuring so these claims fall separate from my ownership. Does anyone have advice or knowledge of strategies that protect from these unfavorable rates and terms associated with multiple claims in a short period of time?

Currently being told my yearly rate will be 6000 a year in Connecticut, and I should avoid any new claims as this number will be soft in comparing what I would be charged if I furthered my risk threat. I would consider both claims insurance worthy as one was due to a utility company puncturing my sewage pipe with a pole support cable, and the other was a failed expansion tank on my 1-year-old boiler during Christmas.

Any feedback on this would be great, even if it's shared horror stories.  

[Bill B.]

The claims will follow the property no matter whose name is on it. 

There is no way I would have made a claim under $7-$10k with a $2,500 deductible. These sounds like sub $5k problems, but you could be underselling them. 

A decent insurance company should go after the utility company’s insurance company, refund your deductible, and not count it against you. 

I’ve explained 1/2ma dozen times about how much you can save with high deductibles, especially once you have more than a few properties. 2 claims might not sound liek many to you. But I’ve made 2 claims in 25 years with 12 properties (both over $30k, one Allstate refunded my deductible after suing the plumbing manufacturer.). I’ve covered 2 myself. ($4500 and $6500)