The Less Obvious Reason for Annual Increases
Now let’s consider some of the not-so-obvious reasons for a price increase.
These may include one or more of the following factors: the gradual or sudden reduction of what are sometimes called “new business” or “disappearing” discounts; rate level changes; or specific rating factor changes. You may not have realized that some discounts you receive, usually when you first purchase your policy, are created as new policyholder incentives. Think of these as special offers for switching to a new company. You may get a particular discount for your first policy term as an initial offer, but then have it roll off after the first term is over. Sometimes, instead of the discount rolling off fully, some discounts may decrease gradually over more than one policy term.
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රමේශා කොටස් සියල්ල මෙතනින්
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