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Ellen Said:

does anyone know what property tax rates are for Lee county, Fl., and is that area in a flood zone?

We Answered:

The county tax collector knows.

Gladys Said:

Can homeowners insurance rates increase for having a non operational car on your property in a rural area?

We Answered:

Usually an insurance company will not surcharge for junk cars, they'll usually decline coverage or non-renew to get off the risk. An increase would be a like an endorsement meaning we'll cover the risk, but are charging more. Like she said, who wants to cover junkers. Just get rid of the cars.

Did you discover the cars when you mowed the grass?? ;)

Joanne Said:

Is credit used in determining health insurance rates?

We Answered:

The first 10 years of my "insurance life" were doing only commercial property and casualty. I started selling life and health in 1994. I currently do both, and have no companies that require a credit check on the L&H side. I believe that is because there can be no financial gain on the L&H side (except for death in life insurance, and you don't gain because you are dead!). Even though insurance is designed to make you whole and put you where you were before the loss, you can lose your home to a fire, and be better off than you were before the loss occured. This is because everything that you own now is new, and what you lost in the fire could be stuff that has depreciated down to practically no value. Of course, you would need replacement cost coverage for this to happen.

Randy Said:

Has commerical property insurance rates increased in texas?

We Answered:

Have you noticed that Texas is hurricane alley, and we've had a couple of major hits in the past few years? We have a decent stretch of coastline? And a propensity towards tornados in the northwest area??

All those reasons are included.

Jamie Said:

How can I verify that the rate provided by a property insurance company is true? (it is S&P rate)?

We Answered:

You can get the S & P ratings at their web site - http://www.standardandpoors.com/ratings/… (though you are required to register it is free)

If you don't want to do that you might try going to the library. If the library does not have a copy of the S & P ratings book call your State insurance department...

Anita Said:

What were the average property insurance rates for each state in 2004 and 2005?

We Answered:

There isn't one. No one collects that info, because it serves no purpose. There are too many carriers, and too many rating factors, with too many different house values, with different claims experience, with different deductibles, with different credit scores for the owners. So it's pointless.

Ernest Said:

Is it true that there has to be at least $1000 of property damage for an insurance company to raise my rates?

We Answered:

They set their rates to whatever they want to based on various risk factors, moving violations, at fault accidents, history of the neighborhood where it spends the night, etc.

Sometimes a rate increase may not be apparent. For example they might normally have a renewal discount, and that discount you may not even know about might disappear. So they could hit you just keeping the rates the same instead of going down.