Quote:
Originally Posted by extrashaky
LOL. Owning real property does not increase your auto rates. Where do people come up with this stuff?
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My insurance rate will be higher because my coverage is higher for having a large equity on my house. In that case, that's my decision to raise my rates.
Of course, a person who isn't even halfway through their mortgage probably doesn't need that type of coverage, so they're likely to report lower rates. Some people don't even take into consideration that their property can be lost so they probably will report lower rates too.