Sunday, June 27, 2010

Beating the system

sometimes it is possible

earlier this week I received our annual analysis of the escrow account that takes care of the property taxes and insurance on our mortgage

their analysis showed that there would be a shortfall, and they wanted me to send along a check to "make up" the shortfall -- or they could just increase the monthly payment

either option is a royal pain, but the increase would be easier to deal with than coming up with a lump sum that was not planned for

and then on Friday I got the paperwork from the insurance company showing that the rates were going up - AGAIN - despite the fact that we didn't even get to put in that claim on the fence

it just hit me wrong -- what the heck?!

so yesterday I called them

why did the rate go up? because there was an increase in claims in the entire state, so they feel justified in raising my rates --

but after some whining on my part the representative on the phone told be that the company has recently started using a new method to determine what rates to charge and that using that evaluation -- basically writing a new policy with exactly the same riders, conditions, etc. -- might lower my premiums

I figured "why not" and told him I'd like to find out if that would help

(oh and while he was putting data in his computer I could hear one of his co-workers tell someone "we don't just automatically reduce a rate -- we wait until the customer asks" -- suspicious confirmed!!)

the bottom line?

the re-write is going to save me $514!

this week I'll be calling the mortgage company and asking them to re-review the escrow with the new rate in there --- I don't think I'll need to worry about the payment going up

I'm feeling good!


Kay Dennison said...

Good thing you called!!! And you just validated my contention that the only dumb question is the one you don't ask.

Nancy G said...

FINALLY you catch a break!! It's about darn time!

Alison said...

Wow. Go you!

Your new setting means it'll give you a dead link to my old addy, sorry about that!

--AlisonH at