Can I stop my insurance premiums from going up?
Can I stop my insurance premiums from going up? A few years ago I saw, on a travel show, an amazing story that took place in a country town in Okinawa, Japan. The residents of the village attended a vegetable stand to buy and they themselves had to weigh the products and deposit the money in a wooden box arranged there. The curious thing about the small place was that there were no shop assistants, nor was the owner present. Each one was attended and each one paid according to the prices written on a table. The surprised journalist asked: Is nobody watching? Where is the owner? What happens if you leave less money or do not pay directly or take all the money from the box?
To which the neighbor of the town replied: Right now, the owner of the store is tending the land. As you can see, the prices of the goods are very cheap. Yes, when he returns, he notices that he has been robbed, then he will be forced to set up surveillance cameras and hire a person. All these measures will affect the price of the merchandise and we will all end up paying more money for the same product that today offers us so cheaply.
This same logic applies in the world of insurance. If we make false claims or see an opportunity to earn money in the claims, it ultimately affects the premiums we all pay for insurance premiums.
The FBI estimates that the total cost of insurance fraud, not including health insurance, is more than $ 40 billion a year. This means that insurance deception costs the American family between $ 400 and $ 700 in increased annual premiums.
It is known that fraud is not only caused by customers, however, but we can also have a positive influence if we refuse to be part of counterfeiting schemes.
If we are homeowners, it is fair to make claims under the insurance purchased. If we take advantage of the passage of any storm to – with a false claim to repair the windows, the roofs, or that leak that we never wanted to fix, we are helping our monthly premiums to go up.
Insurers react like the Okinawan peasant, if he does not give them the bill, they have to pay more inspectors, create expensive control mechanisms and in their business formula, increase the probability of risk. In other words, raise your insurance premiums. Worth it? Can I stop my insurance premiums from going up?
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