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Don’t Make Claims on Small Losses

In Insurance Claims, Insurance Industry, Insurance News, Interesting News, News Article on November 25, 2013 at 1:32

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Here are some interesting statistics listing the five states where the premium increases would be the highest for a single claim and the five states where the premium increase would be the smallest:

The five states where the premium increases would be the highest for a single claim are:
• Minnesota: 21 percent.
• Connecticut: 21 percent.
• Maryland: 19 percent.
• California: 18 percent.
• Oregon: 17 percent.

The five states where the premium increase would be the smallest are:
• Texas: 0 percent.
• New York: 1 percent.
• Florida: 2 percent.
• Vermont: 2 percent.
• Massachusetts: 2 percent.

For this study, Insurance Quotes calculated rates for six large insurers based on a single-family residence insured for $144,000 with the initial claim of up to $30,000.

Click here to read more about this study and click here to see the complete lists of states.

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