Surely you have ever wondered why your insurance policy rises every year if you have not given any part . It is an unknown that many users have and in this article we will try to solve it. You will see that the reason why insurance policies rise is much simpler than it seems.
The high loss ratio, one of the reasons why insurance policies rise
In general, we already know that the more parts we give, the higher the insurance fee goes up . In fact, it may even be that, if our accident rate is very high, we are not allowed to be clients. Now, if you do not give any part, what is it that makes insurance policies go up?
Think that there are millions of people insured throughout the world. Although you do not have sinister, they do have other people and that affects the economy of the company that should try to find a balance to be able to always maintain their ability to respond to the customer when they are in delicate situations. You could almost say that among all the clients of a company we maintain the solvency and support capacity of it.
It must be borne in mind that the loss ratio, which should decrease due to the tightening of legislation and the new and more advanced security systems, does not. The issue of insurance scams is a very worrisome issue . Taking into account that the fact that these situations occur and end up affecting your pocket , it is very important that when you detect any of them or witness them, help the police or the appropriate authorities to clarify the facts and collaborate against fraud .
Other influential factors and what to do in case of unforeseen climbs
Another important reason why the policies go up is because if you are a new user, surely so that the company could capture you, you made an offer for a certain time. When that period passes you will notice the rise. Consult him if it could be your case.
The rises in insurance policies are also related to other aspects such as the IPC . If it goes up, your insurance will too. This affects household insurance because the CPI is a numerical data that reflects the increase in the prices of goods and services of a period compared to the previous one.
Finally, it is important that you bear in mind that, if you have had a price increase in your insurance policy that was not agreed, the company has the obligation to have warned you, at least, two months in advance . They have done? In the event that this is not the case, you have the right to rescind the policy before the contract ends.
If the new price proposal that you are made will not interest you, you must notify at least one month in advance before the contract ends.
Remember that with an insurance brokerage such as Nogal , you will keep your policies always up to date and with the company that offers the best conditions , both in coverage and in the economic aspect. Ask us and we will review your case in person!