My brother went to his insurance agent to pick up coverage for Mom's house. Her former agent had dropped her like the proverbial hot potato. Two reasons: the house was empty, as she is now in an assisted living facility. [Now rented, but that's another story]. And she had the effrontery to actually file two claims for lost hearing aids. She didn't ask them for the hearing aid coverage. The insurance company 'sold' her on the policy. Sold it to an 83 year old woman in poor health, and diminishing mental state. And they were surprised that she lost them?
Enough of that, back to my brother's story. His insurance agent, one he's been with for years, never had a claim; his agent told him that because Mom had filed the two loss claims, his completely separate home owners insurance policy premium was going to be increased. By 57% per year.
If you've never thought about this, or looked into it, you might be surprised at just how cozy insurance companies are. They know just about everything about you. And what they know [or think they know] can really hurt you.
Check it out here and here.
It's one big money making bonanza for the information gatherers. And one huge loss for the average consumer. No surprise there. The average consumer is usually getting the shaft.