I'm having to start to assist my parents with their daily living much more now and was going through mail this weekend and found that their insurance company is cancelling the home owners insurance due to an unacceptable claim. A few months ago my mother backed her a side by side into my sisters car, they refused the claim at first but paid after arguing with them. The claim was under $4k, and now that is the reason for the cancellation. They never complain about receiving $ only when they pay out. I had the same company years ago but went to another after they tried to make me pay a deductible for being rear ended at a stop light in the middle of Hernando. I called the HQ and wanted an explanation and they said they weren't sure why I would pay a deductible, and then realized the agent was the carrier of the other driver. They told me not to worry they'd address the issue and I wasn't required to pay a deductible for an accident I was not at fault for.
Insurance Companies
- Thread starter Pookieray
- Start date
Insurance.
The only thing more infuriating than politics.
The only thing more infuriating than politics.
Cancelling the HO policy bc of the claim on the side by side? Isn’t the SxS on its own policy separate from the HO? Which company is this?
I can't say, but if they were a good neighbor everything would be fine!
Patrick Mahomes had a terrible night last night.
It Trump really has balls, he'll go after Insurance and Pharma. Those two are the scourge of the earth, along with lawyers.
So they must’ve pulled from the liability on the HO to pay for the car. You may be able to put the SXS on its on policy with coverage and liability to keep the HO from getting cancelled.
Sounds about like what State Farm would do. Only way you can get State Farm to pay is to threaten to sue them.
Be careful about claims. If it’s something within the range of ~4x the deductible, consider just paying out of pocket. Some companies like to pay the claim then cancel your policy if they deem necessary. Unfortunately, you don’t know this until they cancel.
I will say, State Farm will NEVER get a single cent from me, ever. Had a grandparent that paid into SF insurance for decades, had one claim, got dropped. 17 that company, hard.
I will say, State Farm will NEVER get a single cent from me, ever. Had a grandparent that paid into SF insurance for decades, had one claim, got dropped. 17 that company, hard.
All the indications are pointing to insurance becoming less available and far more expensive - if you don't have any kind of relationship with a local agency/agent, now probably isn't a bad time to do that. It's not any kind of cure-all - big companies are going to do what they're gonna do, and all that - but it at least gives you some path of recourse when shiit gets squirrelly.
I don't understand how State Farm stays in business. They've never been competitive when I've seen quotes, and it's a coin flip on whether they will pay a valid claim or make you get an attorney involved.
Little chance he or any other politician is going to take on their owners like that.
All insurance does is transfer risk of paying for your misfortune from you to them with the tradeoff being that they use your money to make money through investments. If ever they no longer make the profit that they want from a particular geography, or insurance type, etc., they stop underwriting it. For us it is very personal because it is our stuff/lives being impacted. For them, it is just business. They don't much care about you and just want to maximize profit and minimize claims. The only human side of insurance is your agent, and my experience is that other than looking out for me to make sure that I get whatever is "best" from the company for my needs, they typically refer me to the claims 800 number for anything of substance.
Fine. I”ll 17ing say it.
I hope State Farm gets added to the cartels on the list of domestic terrorist organizations.
Exactlt - people really need to get over the notion that insurance companies are any sort of benevolent mutual-aid society. And maybe start thinking about actual mutual-aid societies.
I don't think that most people think much about it. Look at banks and insurance. There are government rules around capitalization. They primary reason is that we are all greedy by nature and would take on much more risk with other people's money than those people would appreciate. If it were not for government regulations, most banks and insurance companies would be doing so much profiteering that they could not meet the obligations to their customers, especially when something widespread hit. We definitely have too many government rules, but some are necessary because we are our own worst enemy...
Oh yeah, I think most people understand that. I do believe that's where we are with my parents right now. If they were good neighbors they would help in NC and Ca.
Correct. These companies spend untold amounts on subrogation. Literally employing huge departments just to figure out if they can lay the claim on anyone else. Imagine if they lowered their subrogation costs by just contesting the most obvious things and just paid like they should...
There is a difference though, between certain companies that provide insurance as opposed to others and it comes down to you get what you pay for. People gripe and complain about how much Farm Bureau or nationwide cost but they are some of the least litigated insurance companies out there because they pay and they stand behind what they say they are going to do.
If body shops are refusing to take Allstate or State Farm claims, then I think that’s an indication that the company is not holding up their end of the bargain
Agree. Simply pointing out that insurance is simply a transfer of risk. How each company handles their business is nuanced and sometimes paying more does actually result in getting something better for the extra money. I'll not be calling the general..
For insurance(homeowners, auto, health) to be what users want it to be, the entire system would need to fundamentally change. Participation would be mandatory, costs would be collected thru taxation vs payments, and it would not be for-profit.
Even then, people would be angry because they wouldnt receive as much as they felt they should. Feelings often cloud reasoning.
But the emotional reaction to such a fundamental change is so severe, serious discussions cant even get started.
Even then, people would be angry because they wouldnt receive as much as they felt they should. Feelings often cloud reasoning.
But the emotional reaction to such a fundamental change is so severe, serious discussions cant even get started.
I'll be over here waiting on the good news anytime ya'll have some.
https://www.usnews.com/news/health-...mp-ends-push-to-slash-prescription-drug-costs
Based on what has been part of the flurry of activity these first few weeks, it doesnt look like he is interested in addressing end user healthcare costs or healthcare coverage.
One should have a separate policy for a SxS but it is covered by the HO policy, usually for a couple grand. Unfortunately if you ever file a HO claim, you’re screwed, especially in MS where carriers are trying to stop writing completely.
Insurance is about to explode. The NC floods are bad but the sheer amount of money it will take to rebuild those houses in LA will be unfathomable. Something will have to happen (politically) because premiums will increase significantly over the next 24 months.
Insurance is about to explode. The NC floods are bad but the sheer amount of money it will take to rebuild those houses in LA will be unfathomable. Something will have to happen (politically) because premiums will increase significantly over the next 24 months.
I know a State Farm agent that lives down the road from me and I refuse to switch after the stories I have heard. We had a storm come through this past year and Travelers gave me a new roof no questions asked when they saw hail and wind damage. My State Farm neighbor was denied coverage from his own company. It had the same damage as my roof and two others on the street. So, the only guy out of the four with a damaged roof still is with State Farm and he actually works for them.
Both sides are in bed with Pharma and healthcare. We are hopeless on that front.
I don't think people expect insurance companies to act like a benevolent mutual-aid society, they just expect the relationship to be viewed as something more than a one year bet between them and the insurance company. That still might be unrealistic. Certainly if you are shopping your insurance every year for better rates, you can't really get upset that an insurance company drops you as soon as they feel like the risk has changed slightly. You're both looking at it on a year to year basis.
But I get people that pay their premiums year after year and then get dropped the first time they have even a very minor claim or even get dropped without having a claim at all just because nearby neighbors are having a lot of claims, feeling like that's ****** treatment by the insurance company.
But as far as I know, no insurance company gives any credence to how long an individual has been a customer. Once premiums get into the several hundreds of thousands, insurers (or at least some insurers) are much better about treating it as a long term relationship. But I don't think being a customer for two decades even registers for individual policies.
SxS should have its own policy, but also, this is one where yo may need to call the insurance commissioners office and bring this to light.
I wonder if there's consideration of multi-year policies? Obv there's risk/reward for the carrier and the insured, not to mention legalities
You are right. Those emotions plus the fierce resistance big insurance companies would put up to any kind of system that cut them out. I have a medicare for all pipe dream, but I think there is too much irrational resistance on one side and too much it would kill our system of making money on the other side.
After hurricane helene trucked us, I've been very happy to be a usaa customer.
Watch local TV and you'll see why insurance is a **** show. 3 out of 5 commercials are from personal injury attorneys who do nothing but defraud insurance with BS settlements. It is not getting better but worse. Some kind of reform on the legal profession fraud would go a long way to reducing insurance costs and easing the process of getting a legitimate payment
You're right but 90% of the time, these "attorneys" are defrauding their not-so-sophisticated clients and not insurance companies or the rest of us. They make a big show about GETTING RESULTS FOR YOU, which is actually the same result a person would've gotten anyhow. They then take 1/3 to 1/2 of that payment/settlement for their troubles. To be clear, there absolutely are times a person needs to hire a (real) lawyer against an insurance company.
I'm all for reform here, but it's not going to save most of us a penny.