Unfortunately, this is NOT the case but it is a common misconception. While premium rates cannot be raised due to advancing age, deteriorating health, or claims, the carrier CAN apply for a "class-wide" rate increase, which will affect all policyholders who have the same type of policy.
You can reduce your chances of having frequent premium rate increases by choosing a carrier that is highly committed to the industry, has a history of excellent premium stability, and have published their claims payment history.
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