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Insurance prices for the same coverage may vary greatly from company to company depending on their loss experience. Your auto insurance company for example may increase your insurance premium even if you did not have any accidents or violations, while a different insurance carrier had a profitable year and reduced or discounted its car insurance rates to increase market share. Your home owner insurance carrier may suffer massive losses from fires, flood, tornado, or earthquake in one state and, to compensate, raising rates on its automobile and homeowners insurance in other states.

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