Will An Insurance Claim Increase My Premiums?

If I have a claim will my insurance premium skyrocket?

Well that is a trick question, to the staff at the Insurance Plaza and myself, on the average I would say, yes.  If you are my client, no!  So let me talk to those whose premiums will go up and have gone up because they have not met Rashad Carmichael and team at Insurance Plaza! On average the rates go up after an incident or accident occurring on or to your insured property, car, if you’re at fault. Every claim is different and the details of your particular claim will dictate whether or not your insurance premium will go up and by how much?  I will go over a few claims that have more probability of occurrence.

Liability Claims And Effects On Insurance Premiums

Liability claims, those in which you are found negligent for the cause of bodily injury or property damage to another, will likely increase your insurance premiums in most cases when you are working with an average agent. An at-fault accident on your car insurance, or a “slip and fall” on your property, which would be covered by your homeowners insurance  Homeowners insurance can be tricky and that is why you want to deal with an agency or agent who has many options and whom prides itself in customer service and not sales, as we do! When it comes to property damage to your own vehicle and/or home, your premium may or may not go up depending on the circumstances.

Rashad Carmichael And Associates Versus Other Insurance Carriers

Here are some reasons why your insurance premiums may also increase with the average insurance agency and agent:

The type of insurer you are currently with and the type of claim are the two main factors, although it can be said your age and history with your company may play a role in the increase as well.

If you are with a standard or preferred carrier (they don’t typically insure people with claims), you can expect to pay a hefty increase for your insurance.

Additionally, if you file a minor claim (dollar wise) versus a major claim, your premium increase may not be as much, maybe a few hundred or less.

The younger (or older) you are when you file a claim, the more you can expect to pay for your insurance.

If you have driven accident free for 15 years and file a claim, the insurance company may not see you as a higher risk.

However, if you file a claim 10 months after receiving your license, the insurers will determine you are much more risky to insure and charge you much more upon renewal.

With all that being said this is why The Insurance Plaza exists and why our agents take pride in our service oriented and educational culture extended to all of our clients.  The previously mentioned reasons are given to insurance consumers and are totally vanished when you understand the power of service with honor and care, mixed with the economic factors of supply and demand available with The Insurance Plaza.  The website title says it all which is InsuranceShoppingCenter.com.  Most people can’t name 7 top insurance companies and don’t know how to find better options so they are stuck in the hole of underprivileged insurance premiums or in other words- most insurance consumers are stuck paying too much for insurance policies, dealing with commission chasing agents who don’t care.

Will Insurance Claims Skyrocket My Premiums?

Again to answer the question “will my premiums skyrocket if I have a claim?” the answer is no! Contact The Insurance Plaza and take advantage of the tremendous discounts and variety of insurance carrier products represented.  Contact a licensed insurance broker by dialing 888-449-4977-Arrange for an agent to come to you, get a quote and bind over the phone, or schedule a time to come in to one of our offices.

The national insurance companies with large television advertising budgets don’t usually have the best prices. They rely on bombarding us with commercials and other advertising to convince us they are the best option.  How do you think they pay for an advertisement to be run at every commercial break on every channel 24 hours per day? They’re using your premium dollars to do so after they jack up your premiums, but the Insurance Plaza plaza’s model has brought justice to insurance by offering clients multiple affordable options and free education/consulting to help the consumer understand what they are purchasing.

Rashad Carmichael Of The Plaza Insurance

When you understand economics and the law of supply and demand -you know to contact us.   If you don’t understand the law of supply and demand, you will, once you begin saving more money on insurance while actually understanding the insurance policies and its coverage’s by working with the Insurance Plaza as your agent. Feel free to contact me or the staff at The Insurance Plaza @ 888-449-4977 for excellent insurance services, premiums, and coverage!

About The Author: Rashad Carmichael

Rashad Carmichael is the President and Chief Operating Officer of The Insurance Plaza, headquartered in Chicago, Illinois. The Insurance Plaza is a national insurance brokerage firm founded and headed by Rashad Carmichael. Rashad Carmichael is not just an expert in the insurance field but has extensive knowledge in all areas of real estate and lending. Rashad Carmichael is a licensed real estate agent in the state of Illinois and is also a licensed commercial and residential mortgage banker with Gustan Cho Associates. Mr. Rashad Carmichael is available 7 days a week for all of his clients, including evenings and holidays. If you have any insurance questions or need a quote on insurance, please contact Mr. Rashad Carmichael at 888-449-4977.

The information contained on Gustan Cho Associates website is for informational purposes only and is not an advertisement for products offered by The Gustan Cho Team @ Gustan Cho Associates or its affiliates. The views and opinions expressed herein are those of the author and/or guest writers of Gustan Cho Associates Mortgage & Real Estate Information Resource Center website and do not reflect the policy of Gustan Cho Associates Lenders Network, its officers, subsidiaries, parent, or affiliates.

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