We had storm damage last Feb.2015.
The total cost of repair was estimated at $3,300.00 approx. Our deductible was $2,500.00, which in turn cost Traveler's only approx. $800.00. We paid the difference ourselves, again approx.
$2,500.00. When our new premium arrived it increased $780.00 I asked why so high, they stated they had to pay a claim to us. So in one year, Traveler's is getting their pay out back!! Yes, one year!!
What good is insurance, if you have to give back to the insurance company any pay out? I would understand a 2 to 5% increase; however, the new premium results in a 57% increase in just one year.
This should be illegal.I would not recommend Traveler's Insurance to anyone.
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