So an unnamed insurance company, who I have been a loyal customer of for over nine years, recently upped my policy price significantly. Basically adding a 40% increase to the monthly cost to my coverage.
I reached out to the company, to try to find out why the sudden increase, and was informed that that it was due to an accident in 2014, that was supposed to have been charged to my policy, but somehow had been overlooked until my renewal this month.
I am currently working full time, and make ~$1000.00 every two weeks. I put aside $500.00 each pay, towards my rent, $230.00 each pay for car payment, $90.00 for car insurance, and $150.00 for credit card debt. (I was irresponsible when I was younger, but I've nearly gotten it paid off.)
With my new policy pricing, my bi-weekly insurance cost is up to $180. This pushes me over the line of being able to afford to keep fuel in my car, and food in my refrigerator.
I don't know what to do. Is there an option to dispute the fee for the accident from 2014, since they didn't add it in a timely manner to my policy?
I spoke with the representatives at the insurer, and they were apologetic, but unhelpful, though they did inform me that due to the age of the claim, it would drop off on my next renewal cycle.
I would greatly appreciate any assistance or advice, anyone could offer on this. I feel like I'm stuck in this situation, and I'm not sure I would get a better deal if I walked to another company for insurance.
Submitted July 15, 2017 at 04:47AM by Cipreh http://ift.tt/2v1T6zc personalfinance
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