"You're in good hands with Allstate"

<div class='quotetop'>QUOTE(burritos @ Apr 16 2007, 05:56 PM) [snapback]424330[/snapback]</div>

WTH! They can't tell if storm surge actually reached the house? Weak argument about voiding the entire coverage because, presumably, the owner thought the boat house was included and it wasn't. No wonder the jury awarded them $1M+ in punitive damages, not easy to do in contract or insurance cases. This type of stuff doesn’t surprise me because when I was going to law school I interned for PI attorney and found out that in almost every case Farmers would deny coverage for motor vehicle accidents. I guess the bean counters thought in the long run it would make them money.

Wildkow

p.s. edited: Changed State Farm to Farmers, my bad. <_<

 

Allstate is a C rated insurance company. I am sick and tired of hearing about "That's Allstate's Stand".

 

"And remember, Captain Kirk--you're in good hands with tribbles."

 

Too many people shop for insurance by price alone. A cheap policy does you no good if the company won't pay when you have a claim.

 

Does anyone else find it odd that this man received 350,000 from federal flood insurance (the most likely cause of which would have been a surge from the storm) and yet the surge never reached his house?

I don't want to sound like i'm supporting AllState here, but it's the little contradictory items like this that raise questions in my mind of what really happened.

 

<div class='quotetop'>QUOTE(eagle33199 @ Apr 17 2007, 09:21 AM) [snapback]424560[/snapback]</div>

I agree.

 

I love it when the Ins sales people call to give me a FREE quote.... I tell them what I pay then they hang up the phone...

In other news :

Fla. Property Tax and Insurance Reform
http://www.flgov.com/reform

Insurance industry to lawmakers: Don't cap premiums
http://www.sun-sentinel.com/business/sfl-a...0,1040720.story

Coalition Pushes For Florida Insurance Reform
http://www.floridahomeloan.com/2006/10/coa...-insurance.html


On June 27, 2006, Governor Jeb Bush released Executive Order 06-150 creating the Florida Property and Casualty Insurance Reform Committee. The committee will provide a forum to discuss the problems plaguing the insurance market and our citizens as well as to offer recommendations to stabilize the industry. Namely, the committee is charged with making recommendations on improving competition and creating incentives for insurance policy writing in all markets; encouraging commercial as well as residential hazard mitigation; improving insurance agent underwriting practices; reducing the reliance on Citizens Property Insurance Corporation; and evaluating the effectiveness of the programs enacted in CS/CS/SB 1980.
http://www.myfloridainsurancereform.com/docs/eo6150.pdf

Florida Homeowners Insurance Problems
http://floridahomeownerinsurances.com/

Insurance reform legislation that passed last week shows what's possible when lawmakers seek "ideas that help Floridians," Gov. Charlie Crist said in a weekly newsletter sent to supporters.

"Help for the people of Florida is on the way! Help is on the way in the form of lower homeowners insurance rates for every Floridian," Crist wrote Friday.

And it might work, too, unless the state gets hit by a strong hurricane in the next few years.

"We are screwed if that occurs," said Senate Democratic Leader Steve Geller of Cooper City, one of the plan's architects.

A few worst-case scenarios are tempering some of the enthusiasm over what Crist and others bill as a bipartisan triumph:

• What if Florida gets hit by a costly storm before it can build up a bigger, new public catastrophe fund, designed to lower premiums by relieving insurers of some risk?

•What if new rules against "cherry picking," the practice of offering the most profitable types of insurance but not property insurance, send automobile insurers packing from Florida?

•What if a bulked-up Citizens Property Insurance Corp., the public insurer of last resort that's now empowered to offer other types of insurance, steals customers from private businesses?

Crist even added his own scenario, which he plans to address at a Cabinet meeting this morning: What if private insurers try to rush through rate hikes now, while the reform plan is being implemented?

Crist has an answer for that one: offer an emergency ruling to prohibit policy cancellations and require rate changes to incorporate the new legislation.
http://www.tbo.com/news/metro/MGB6Y2BUJXE.html

Whats this have to do with the price of tea in china, You ask? I and several other homeowners have recieved letters from our insurance companies stating they will no longer offer homeoners insurance to floridians once their polocies have expired. Other Companies are grandfathering in its current polocy holders in Fla. but not accepting new customers.....

I wonder how long before they do something like this up the eastern seaboard or the gulf & west coasts? :mellow:

 

<div class='quotetop'>QUOTE(NoMoShocks @ Apr 16 2007, 08:53 PM) [snapback]424365[/snapback]</div>

What rating does Met have?

 

Heres the JD Power ratings list.......!

http://www.jdpower.com/financeandinsurance/home-insurance

 

I'm not sure how much the model works right now, but each area of the country needs to sustain itself over time as far as insurance goes. If Florida gets wacked every 5 years and you need a whole new house each time... then your insurance premiums need to be about 23% of your house value each year. I'm not a big fan of them guys knowing they'll get wacked and collect huge insurance, rebuild and get wacked again unless their own premiums are paying the way.

Why should an area like Billings Montana pay $400 a year to help make up for those guys in Florida who know they'll get wacked again. If Billings only gets wacked every 90 years, then their premiums should reflect that.

Don't build another house on that land if it's going to just get blown down next year, or build it to be able to take that same storm, but twice as strong.... or, just don't build in the path of the storm again. What is it exactly you are doing right there that you have to be right there. Move inland 5 miles.

 

About 10 years ago ... here in CA, there were hundreds of homes damaged by a big earthquake. The ins. industry didn't even want to write earthquake policies, but the State ins. commissioner forced them to. It cost a ton, if you can even afford it, and it has a minimum of $25,000.00 of damages before it even kicks in. So the Vally has 100's of damage claims, and what did several carriers do? Claimed bankruptcy (fraudulently). It took years of class action law suits before the $$$ was finally shaken free from the industry. Gotta love 'em. They OWN this nation, and very few realize how powerful their lobby is.

 

Allstate is one of the companies that will cancel your insurance if they find out you participate in "timed events" at your local drag strip. I can't help but wonder about a company that will cancel your policy for participating in a legal (and non-covered) activity, but will gladly pay your bills if you crash while street racing.

No company will cover you while racing at the track, but to cancel coverage while buying bread on a Sunday morning (if you have an accident) because they found out you were racing on a Friday night at a sanctioned event is simply insane.

Insurance companies, perhaps more than any other industry, should be penalizing illegal activities and promoting legal ones instead. Allstate is one of those firms that has flatly said to me they will "agressively persue and cancel any policy holder found participating in legal drag racing activities at a sanctioned track".

 

<div class='quotetop'>QUOTE(hycamguy07 @ Apr 17 2007, 11:00 AM) [snapback]424658[/snapback]</div>

Been there and done that. In NJ they will either raise your rates or drop you on your 1st homeowners claim. On the second they will drop you. Insurance executives were unfavorably compared to child molesters on the Senate floor. It takes real backbone to shaft everyone equally.

 

Speeking of NOT being in good hands ... just a few days ago:
One of our downstairs rental condos got a flooded ceiling from the upstairs unit. They have AAA insurance. We gave the owner our $2,200 bill. She tells us, "AAA says they won't pay, & I don't have to either because our CC&R's don't specifically articulate that the damaging party has to pay".

I love the fact (especially as an attorney) that some shloemoe at AAA is giving out (wrong) legal advise, without a license. I call AAA. I tell them it's a slam dunk if I have to take their client to court. AAA said, "we'll reimburse her at that point". If the owner pays us the $2,200.00 out of pocket, AAA won't reimburse her. So, AAA would rather rack up court costs, as well as damages ... as well as causing bad will between owners, rather than pay up front.

AAA too, is "like a good neighbor". <_<

 

<div class='quotetop'>QUOTE(hycamguy07 @ Apr 17 2007, 12:00 PM) [snapback]424658[/snapback]</div>

Here in South Florida many homeowners insurance customers are finding out that they are only going to receive a reduction of 8-10% on their homeowners policies after the recent legislation to bring rates down to a reasonable level. Allstate is a cheap company and does not like to pay claims other than auto. I personally believe that homeowners should not be forced to carry hurricane insurance if they don't want it. However, the bank who holds the mortgage consists on windstorm coverage. It's a vicious circle and the insurance companies always win. I think they're all a bunch of criminals and it's a dirty business. We in Florida are getting screwed, and many people are leaving the state if they can sell their homes. Hopefully things will get better soon.

 

<div class='quotetop'>QUOTE(Walker1 @ Apr 18 2007, 10:19 AM) [snapback]425273[/snapback]</div>

The ideal would be to rebuild a stronger home after the first is damaged by a storm..

In central Fla I have seen block homes built then earth piled up the walls like a hill and in some cases covering the roof as a insulator and wind protecter..

Examples:

 

I've got an idea... why don't we all just live in Hobbit Holes!

sorry, one of your pictures just looked way too much like one to resist

 

<div class='quotetop'>QUOTE(eagle33199 @ Apr 18 2007, 11:55 AM) [snapback]425341[/snapback]</div>

Yeah I liked that one,

Just think of the money savings, in electrical costs as you don't have to run the air or heat very often if ever.
But its like the saying goes "You have to spend a little to save a little" or something like that....

I talked to my insurance co. they told me Im grandfathered in, however they are no longer offering coverage on rental properties, new homes or if my policy lapses and the account is closed. I will not be able to reopen as a new customer. Unless Im active military (as they really do not have a say in where they move to).

 

So much for the concept of group risk, more importantly, reserving requirements...