After being with Mercury Insurance for 6 years, I wanted to find a company that could give me a lower premium cost while at the same time giving me the same level of coverage. I went to a website and filled out a request for quotation from several insurance companies. Marketwise Insurance seemed to be the best.
My premium at Mercury was $2,875.60 for 6 months (2 cars). Marketwise gave me a quote for a lower premium at $2,188.00. That would have saved me $687.60 a year.
I had to fax and refax paperwork, take pictures of the cars and send them to the insurance company by email. I also had several phone conversations with the insurance company to make the final changes in insurance. I thought it would be well worth it.
After one month of being a customer, Guardian General Insurance (I guess it's the actual insurance company) sent me a letter stating that my premium had increased by $1,080.00 and that I had to pay more money to cover the down payment with the increased premium.
They gave 3 reasons why the premium cost increased so much. The first was because my wife had not yet been driving for 3 years. I wasn't sure about that, and it turned out to be 2 years and 7 months. Because of that, a small increase is reasonable. The second reason why was because they had rated a previous accident as fully chargable with property damage and bodily injuries. That accident was very minor, but I had to prove it. The third reason was because Marketwise and stated my '96 Civic as being a recreation car, so they changed it to commute car. I never asked for it to be a recreational car!
I had to go back and forth with broker. I couldn't talk to anyone at the insurance company directly. I had to speak with the broker who kept giving me bad information, and giving bad information to the insurance company as well.
After all of this hastle, I'm paying $304.40 more for insurance when I originally set out to pay less. This was a Bait & Hook scam!
Insurance Fraud
The Bait & Hook Scam
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