OTState Farm Insurance strikes again
- Thread starter T-TownDawgg
- Start date
Allstate is miles worse, not a close 2nd. Believe it or not most property writers want to handle their claims fairly for both parties. fraud and litigation (for no reason other than lawyer greed) are everywhere. Fraud-litigation-loss experience come back in this way……Rate increases.Gonna post his without comment:
State Farm to hike home insurance rates by 27% in this state
Illinois homeowners face a 27% rate hike from State Farm as the insurer cites unsustainable losses. The rate increase is expected to start on Aug. 15.www.foxbusiness.com
Some friends of mine are frequently called on to investigate insurance fraud claims. Don’t try it. Greedy homeowners went overboard with roof claims in the past. Insurance companies are now really good at spotting fraud and going after fraudulent claims.
A brutal derecho hit us in August '20. New roof, new gutters, new shed roof too for a total cost of $26800. Some dude from Florida assessed damage within days and took me on the roof to understand everything. Really helpful.
- Allstate paid up quickly and fully covered everything except the deductible, and paid extra as work was done and more damage was discovered.
A brutal hail storm hit us in August '22. My vehicle had $9500 in damage. Some dude from Texas assessed damage within 2 days and showed me the whole bending light processes used to document damage on a white painted vehicle.
- Allstate paid up quickly and fully covered everything except the deductible, and money was direct deposited within 24hrs.
A brutal dumb driving error by my oldest wrecked that hail damaged vehicle in May '23. Some assessor valued it at a yard at $13300.
- Allstate paid up quickly and the only delay was because I pushed back to whoever I spoke with on the phone and provided examples/reasoning for it being worth $14900. Money was direct deposited within 24hrs.
Allstate has not increased our premiums from the roof or hail damage. Car insurance increased because a 17yo proved that rates should be higher for that age group, but the increase was reasonable(sizable, but reasonable) and lasts 1 year of coverage.
About 10 years ago we went to State Farm to see what they would cost and when we showed the guy our Allstate costs and coverage, he jokingly said that we should be happy and not waste our time asking other companies for comparison costs.
TLDR for pain - Allstate has been responsive, fair, and hasnt penalized us or our area in general...yet. I am pretty sure I should just be happy the claims happened shortly before the insurance industry seemed to start increasing premiums so much and dropping people left and right for submitting claims.
This may just be me whistling past the graveyard and a reckoning is coming.
- Allstate paid up quickly and fully covered everything except the deductible, and paid extra as work was done and more damage was discovered.
A brutal hail storm hit us in August '22. My vehicle had $9500 in damage. Some dude from Texas assessed damage within 2 days and showed me the whole bending light processes used to document damage on a white painted vehicle.
- Allstate paid up quickly and fully covered everything except the deductible, and money was direct deposited within 24hrs.
A brutal dumb driving error by my oldest wrecked that hail damaged vehicle in May '23. Some assessor valued it at a yard at $13300.
- Allstate paid up quickly and the only delay was because I pushed back to whoever I spoke with on the phone and provided examples/reasoning for it being worth $14900. Money was direct deposited within 24hrs.
Allstate has not increased our premiums from the roof or hail damage. Car insurance increased because a 17yo proved that rates should be higher for that age group, but the increase was reasonable(sizable, but reasonable) and lasts 1 year of coverage.
About 10 years ago we went to State Farm to see what they would cost and when we showed the guy our Allstate costs and coverage, he jokingly said that we should be happy and not waste our time asking other companies for comparison costs.
TLDR for pain - Allstate has been responsive, fair, and hasnt penalized us or our area in general...yet. I am pretty sure I should just be happy the claims happened shortly before the insurance industry seemed to start increasing premiums so much and dropping people left and right for submitting claims.
This may just be me whistling past the graveyard and a reckoning is coming.
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I actually sell some of the tools carriers use to detect fraud. I think the general view is I am going to screw them and get mine….whether they are in the right or it’s frivolous. Fact is it is coming back in the aggregate. I don’t think ppl realize that.
The reason rates have gone up, among many other things, is that insurance use and design (specifically P&C) have expanded too far from what it is supposed to be.
I had to have my roof replaced recently after a hailstorm. Couldn’t believe the cost. But Nationwide took care of me, no complaints there. Used a third-party adjuster.
Yep. My insurance company paid out over $12,000 to reroof my old house, and that’s after my $5,000 deductible. For a very middle class 1,600 sq ft house. Admittedly, it’s a damn nice roof. But still.
Can you say more on this? I grew up in the Chicago suburbs and back in the 80s and 90s, property insurance covered what it covers now...at least I cant think of anything that is covered now which wasnt covered then. Wind damage, hail damage, fire damage, vandalism...those were covered then and covered now.
Maybe I am misremembering? Or maybe I happen to live in an area where it really hasnt expanded, but its expanded in other parts of the country?
It's coming. Global warming and the wild weather is the reason they're using by the way. I had one insurance company try to tell me I couldn't keep an old car in my yard (parts car I used). I told those 17rs to eat **** and die!
I won’t pretend to know all the dynamics of insurance pricing, but any time there’s catastrophic fire or storm damage like that, the people in the immediate area may be hit the hardest, but you can bet your butt that insurance companies are spreading the wealth to everyone else too
No worry, the insurance lobby will keep government in check on their side.**
As a plumber who works with multiple water resto companies on a regular basis, in Mississippi, State Farm is not where it’s at!
Been w/SF since Sept. 2000. In that span of time only made claims on a 4-wheeler, one deer to the ‘Yota, & one tree to another Tacoma. Never filed a claim on either of my homes. Every time bill went up, I asked agent, why? Without fail the reply has always came back to me, “Premium Increase, Premium Increase, even my insurance went up!” I just quit asking because one thing for certain, I know my agent, and of the three claims I’ve ever made, agent told me get a quote, bring it to me, I cut you a check, & you go get it repaired and that happens in person on the spot when I bring the quote in, immediately, no questions, no hassle, no fuss. I just say thank you, take the check, and get the repairs. Every time I check w/other insurance companies or like FB, they say they can’t touch SF price, I been w/them too long so I just stay. Customer Service & no hassle claims go a long ways. I definitely not happy w/my most recent premium increase though but, in the case of a much needed claim, just like the commercial sings, “And like a good neighbor, SF is there!” At lest that’s always been my experience with them.
I posted a similar incident that happened to my parents. They cancelled her homeowners and auto. Cited the age of the house (18 yo) and the fact she has a claim on auto insurance. They are absolutely evil.
I went with USAA this year, they were $1800 a year cheaper
You just have to remember if you are insuring with state farm, you are basically paying premiums for the right to sue them. I wouldn't balk at having them for car insurance if they were cheap enough. If they were like 30% cheaper, I'd probably be willing to roll the dice. But I can't afford to pay for the right to sue them if my house gets destroyed by a covered cause. Even if they're half the price, that's just too much risk to take for me.
I apologize if I missed the sarcasm, but insurance companies already basically have deductibles for roofs. All the scam litigation getting roofs replaced has companies either only covering the depreciated value, not replacement cost, or they just raise the deductible to the cost of replacing the roof.
And it's not just raising rates. There are also pretty severe reductions in benefits while rates increase. For example, going from a $200 deductible to 1% of the value of the property. That's a huge reduction. You'll notice the cost of the policy going up, but you might not notice vastly reduced payouts.
And after contacting other companies checking rates, you get spammed to death with texts, emails, and even phone calls.
In that case, it was the drunk drivers insurance that wouldn’t pay. He had State Farm.
We probably have some insurance agents on here, but - I had a claim from storm damage a couple of years ago, that was fairly major, in the $60K range. So I called my agent that I've had for mega-years, thinking they'd handle everything, but no - they have me call the claims number. So basically they sell you a policy, then do nothing afterward. It was State Farm, and they paid as they should have, but my agent didn't really do anything.
You wont do any better than USAA. I’ve had them for 35 years. They pay claims fairly & with no trouble and their premiums are very competitive.
Yeah. The agent gets cut out of the loop when it comes to a claim. It’s not your agent, it’s the insurance company.
They paid mine, based on still pictures which, of course, had time stamps. The hole in the roof probably helped convince them there was a problem. I apparently had a good adjuster that went to bat and got things done. I believe he was a sub to State Farm rather than a direct employee. The storm happened in early August and a new roof, new heat pump, and several other things were finished by early October.
Most adjusters are independent contractors. The I had from USAA had worked with my roofer a lot. Both my adjuster & contractor had nothing but good things to say about the other.
USAA isn't there yet, but coming soon I fear. Three (ish) years ago they paid me $27k for a new roof (I don't how old it was) and the roofer only charged $20k.
Back in those day USAA was much less expensive than other and still provided great service. With all the advertising now, they're not any cheaper, but still pay claims fairly.
I’ve really never shopped around. But I do know their premiums are at least competitive. But premiums are secondary when choosing an insurance company. By far most important thing is a company that will pay claims fairly & quickly. And USAA won’t be best for that.
That could easily be solved if the state banned door knocking and put some sort of licensing restrictions on who can operate as a contractor. There are more roofers than youth travel ball teams in this state
And the contractors, many who know little about roofing, are making great money.
The door knockers get great commissions too. Definitely needs more oversight. Had one knock on my door asking if he could inspect my roof. I said go ahead. He came down & said I need a new roof. From the pictures I agreed (but didn’t say so). He handed me a contract to sign right there. I told him I’m not signing anything today. I’ll do my due diligence & get back with you. Sure enough, that company is real good at getting your money up front. Not so good at showing up to replace your roof. So I found a reputable contractor to do the job. Never sign anything with one of those guys without checking them out thoroughly.
Being self employed….I’m almost to the point of saying 17 it and just self pay. Pay stupid amount a month and nothing gets covered and my family is relatively healthy.
Farm Bureau did the same to my parents about 25 years ago. Out of the blue. Customers for about 35 years and just dropped like yesterday’s newspaper.
No way we could do something like that. Healthcare is an unsolvable problem. No country on earth has ever figured out how to offer it to everyone at a reasonable price. Impossible. *
You’re right, there’s no way our federal government could do something like that. Requires Congress to not be intellectually challenged.