Quote:
Originally Posted by Moneyguy1
Insurance rates, for the most part, whether they be for health or housing are generally "take it or leave it", with no (or very little room) for negotiation. This is not an efficient system, except from the viewpoint of the service providers. When was the last time you talked your insurance provider into giving you a lower rate?
A few years ago, in Arizona, State Farm lost a huge mold case. My rate doubled. When I questioned it, I was told I could lower my rate by increasing my deductible. (I went with AARP/Hartford for both my cars and the house and reduced my combined bill by over $500 and got even better coverage including mold coverage)
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Bob, that is an
efficient market. You were free to go to a different provider without penalty or barrier.
And, BTW, you can't negotiate with your grocery store or your power company either...