PDFWAC 284-30A-080
Premium change notice contents.
(1) This section outlines the explanation required and minimum amount of information to include in the contents of the premium change notice. Insurers are permitted to provide additional information beyond these requirements.
(2) Premium change notice.
LICENSED INSURANCE COMPANY – NAME, ADDRESS, NAIC Number, & Notice Date | |||
Policyholder Name, Policy Type, Covered Risks, Policy Number, Policy Period, and Effective Date | |||
• We are notifying you of a premium increase to your insurance policy. Your premium for this insurance policy has increased from (Total Amount) to (Total Amount) (insurers insert amounts). | |||
• Your premium is impacted by (insurers insert primary factors such as auto-related factors, demographics, discounts, rates, and property related factors), which will cause the price of your insurance to increase at renewal. | |||
• Here is an explanation for each reason of your premium increase (insurers shall communicate the reasons for the premium increases along with a corresponding explanation; insurers' explanations must include the percentage or dollar change occurring to the policyholder's premium at renewal): | |||
*Please note: Your future premiums may increase or decrease if you change your coverage, if there are changes in your risk characteristics that occur during this time frame, or by future rate change filings made by our company in your state. | |||
If you have any questions, please contact your insurance company via telephone ( ), email ( ), postal mail ( ), or visit our website ( ). | |||