Id like to propose some kind of regulation to home owners and car insurance companies. I had a homeowners claim that paid out 14k and my premium doubled during that current year from 2100 to 4000 dollars. When it came time to renew, no one wanted to insure me because of the claim. I had quotes of 18,000 dollars for one year. I don’t think insurance companies should be able to hold us over a barrel like that just because we are obligated to have insurance. We have insurance in case of accident or disaster and we need help with the repairs. If we are penalized for using it, then whats the point of having it in the first place?
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Regulations are needed at the Jersey shore. Our flood is tripling and homeowners doubling. No claims. We are down to two insurance companies willing to cover our island. We are headed to a monopoly via FEMA. It’s too expensive.