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Updated over 6 years ago on . Most recent reply

User Stats

117
Posts
13
Votes
Payman A.
  • Los Angeles, CA
13
Votes |
117
Posts

2 claims and now I'm very worried!

Payman A.
  • Los Angeles, CA
Posted

Hi all and as usual, very comforting to have BP to share & ask questions in.  So below is the quick and dirty overview of my situation:

- claim #1: submitted earlier this year for substantial water damage in LA rental property and just received payout.  (incidentally, I had already switched carriers for higher liability limits before claim so current carrier is not the one who paid out).

- claim #2: also submitted earlier this year for vandalism in NC rental property and just received much smaller payout.  (I would not have even considered claim but miscommunications with State Farm agent led me to believe this claim would not affect my policy)

- 3 carriers above are different companies but I do have other policies with other carriers as well.  

- my only insurance claim in 28 years of car/home policies was for a windshield (road damaged) 10+ years ago

I now realize it is likely for my State Farm policy premium to increase and after having read all sorts of horror stories online, I guess worst case scenario would be State Farm cancelling or not renewing my policy at which point I'd be at the mercy of high risk/$ options.  In that case (or case of significant rate increase), can I expect any of my other existing carriers to do the same?

Thanks in advance and I'd appreciate any thoughts/suggestions,

Payman

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