Traveler's - Home Owner's Insurance, Big Rate Increase
For the past five years I have been a satisfied Traveler's customer. I have never filed a claim with them and they have kept the premium low. Just got my renewal bill in and the price jumped almost $400.00! Huh? They included no explanation for this. Called my insurance agent. As soon as I said Traveler's he stopped me. He said his phone has been ringing off the hook with complaints about this increase. I live in PA and my agent has written the second most policies in the entire state. He explained that all insurance companies have taken a hit in the last year with claims. For every dollar taken in they have paid out $1.17 in claims. They have lost money and now want to get even. They're like a casino, they don't like to loose. Prior to this yearly loss Traveler's was making a huge profit but they fail to mention that.
I refuse to pay this extortion premium increase. My agent got me a great rate with Liberty Mutual. Traveler's shot themselves in the foot and will loose many customers. Shame on them.