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Joined: Dec 2007
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Traveler
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Traveler
Joined: Dec 2007
Posts: 2,040 |
Insurance companies use major disasters as an excuse to raise rates. They make back the money they paid out on losses and then keep rates high for as long as possible after to keep profits high. Eventually competition comes back into the market and rates go down. Expect rates to normalize in 4-5 years absent a major storm.
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