Is there really a carrier that has the Cheapest Homeowners Insurance Premium Rates? In order to answer this question, you would need to understand the rating structure and the goals and principles of the industry.
It is the desire of each and every insurance carrier to do the following:
1) Gain a Fair Share of the Risk
2) Maintain Financial Reserves
3) Provide Excellent Customer Service
4) Stay in the Technology Forefront
5) Adjust and Pay Out Claims quickly and fairly
6) Show a profit each year not to exceed the State maximum allowed
If any carrier offered the cheapest possible rates, the above 6 items would most probably not be accomplished. Also, carriers wish to evenly spread risk across the vast service area where they are licensed, a concentrated area of risk would defy the principle of the law of large numbers thereby subjecting the carrier to great loss should a large incident occur in that single area.
Customers seek the lowest premium and most often speak to insurance agents; between customers seeking a 'cheap' premium and insurance salespeople hungry to sell policies for a commission gain, the principles of insurance are simply forgotten. In order to keep this issue from getting out of hand, insurance companies have underwriting departments who review each risk and take any necessary action to mitigate the risk, in some cases by issuing underwriting advisories or by issuing a notice of cancellation.
In order to provide an online format to obtain a quote and buy home insurance online in multiple States; we have devised the following link which may be used by Escrow/Closing Professionals, Mortgage Professionals, Real Estate Agents and directly by Consumers. An exemplary online experience for all! http://hda.stillwaterinsurance.com
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It is the desire of each and every insurance carrier to do the following:
1) Gain a Fair Share of the Risk
2) Maintain Financial Reserves
3) Provide Excellent Customer Service
4) Stay in the Technology Forefront
5) Adjust and Pay Out Claims quickly and fairly
6) Show a profit each year not to exceed the State maximum allowed
If any carrier offered the cheapest possible rates, the above 6 items would most probably not be accomplished. Also, carriers wish to evenly spread risk across the vast service area where they are licensed, a concentrated area of risk would defy the principle of the law of large numbers thereby subjecting the carrier to great loss should a large incident occur in that single area.
Customers seek the lowest premium and most often speak to insurance agents; between customers seeking a 'cheap' premium and insurance salespeople hungry to sell policies for a commission gain, the principles of insurance are simply forgotten. In order to keep this issue from getting out of hand, insurance companies have underwriting departments who review each risk and take any necessary action to mitigate the risk, in some cases by issuing underwriting advisories or by issuing a notice of cancellation.
In order to provide an online format to obtain a quote and buy home insurance online in multiple States; we have devised the following link which may be used by Escrow/Closing Professionals, Mortgage Professionals, Real Estate Agents and directly by Consumers. An exemplary online experience for all! http://hda.stillwaterinsurance.com