Can somebody explain to me why insurance companies can't compete with each other?
I'm buying a second house (a foreclosure) and was told by two different insurance companies that their 'underwriters' won't insure it unless they also insure my primary home. Now get this. I could not find an insurance company in the state (Arkansas)that would insure my 150 yr. old National Registry house 15 years ago! So my primary home is insured out of Boston!
Why is this? The insurance company that insures my cars wouldn't insure my house either.
Do insurance companies get to write all of their own rules?
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