State Farm Files for a Deductible Change Dallas Morning News 9/13
Posted by John Coyle on Tue, Sep 27, 2011
Once again State Farm insurance is front page news in the Dallas Morning News on September 13, 2011. The article by Terrence Stutz reports on the filing State Farm made to the Texas Department of Insurance for a proposed new system of deductibles for homeowner insurance coverage that would eliminate dollar limits and require customers to shift to a deductible of 1 percent of the home's insured value or optional higher percentages ranging up to 5 percent.
For example, many policyholders who now have a $500 or $1000 deductible will soon be subject to a 1 percent deductible on property damage or losses. On a home insured for $200,000, that means the deductible will jump to $2,000
State Farm has also filed notice of an average 10 percent increase in homeowners rates...
"Under the percentage system, many homeowners would shell out more in a claim"
To read the entire article follow the link to The Dallas Morning News:
Additional information can be found at Insurance specialist, Insurance information Portal:
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