If our homeowner’s policy renews this month and the premium is increasing over 85% from last year, isn’t there a law for how much premiums can increase?

Get Legal Help Today

 Secured with SHA-256 Encryption

If our homeowner’s policy renews this month and the premium is increasing over 85% from last year, isn’t there a law for how much premiums can increase?

Also, I believe I read somewhere that insurance companies have to file paperwork with the state describing their intent to increase rates.

Asked on December 12, 2012 under Insurance Law, Nebraska

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Under the laws of all states in this country an insurance carrier can raise its insurance rates for homeowner's insurance in any amount from the year before. What you have written about pertains to health insurance requirements mandated by all states in this country.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption