Why do auto insurance companies request rate increase approvals from state regulators and not the consumers?
- That is like asking the store owner to set the prices according to the customers desire to only pay like 2 cents
- Because they are not required to do so. If the law did not require them to get approval from the regulators, they would not do that either
- Because the state regulators, by law, must approve the rates, before they can be used. If a consumer doesn't "approve" of the rate, they do not have to buy that insurance. Consumers vote with their dollars - by getting car insurance from a different company
- The insurance company is obligated to the state to justify rate increases or decreases, not to the client. Similiarly, you are not obligated to the company to stay with them when they increase the rates. Go to Nationwide or Hartford. They are great companies. State Farm is awful
- Because they are regulated by the states, not by you
Knowledge Base
we were on the freeway when he suddenly drifted onto my lane and hit me. but he did not admit fault. i could not avoid him because i did not see him. he was on my blind side and hit my rear quarter panel. he doesn't have to admit fault. (automobile insurance)
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Knowledge Base: Auto Insurance
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Knowledge Base: Auto Insurance Rate
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we were on the freeway when he suddenly drifted onto my lane and hit me. but he did not admit fault. i could not avoid him because i did not see him. he was on my blind side and hit my rear quarter panel. he doesn't have to admit fault. (auto insurance rate)
Knowledge Base Categories:
- Auto Insurance
- New Auto Insurance [16]
- Free Auto Insurance [13]
- Auto Insurance Quotes [19]

