Re-Quoted with large price differential
Hi BP,
I would like some input on whether this agent is ripping me off/covering a mistake or if this price change seems realistic...
I got a quote on my 3 unit property in Northern California. It is not in a high fire area and the total annual premium (3 separate policies) came out to $1,800. I signed the policy documents and a week or so later the agent got back to me saying I did not provide my payment info. I was planning to pay by credit card and the packet did not have an area for me to do so.
He comes back with saying the policies will need to be re-quoted (we are now over 10 days past the initial quote date). The policies now have a total annual premium of $2,400. I was expecting they may have gone up a bit, but 33% seems absurd. I immediately sought out another quote from a different agent. It's not an apples to apples comparison but he is saying $2,150 total.
Can anyone shed some light on whether a 33% price change in a 2 week span is realistic for insurance?