Rip off

[dreamflower]

What would you say about a business that can slash the services provided, and then more than double the price? And expect the customers to bite their tongues and pay?

It's called insurance.

We got the notice for our insurance renewal.

First of all, there's a long list of things they will no longer cover *at all*: not simply floods, but any water damage, even if it is wind driven (and they go into great detail about it!) add to that they will not cover a home office; they will not cover a computer. This of course, added to the previous list of exclusions, such as mold, fungus, and earthquakes. (at least we don't have to worry on that last one.)

Next, they doubled our deductible.

And then they raised our premiums from $500.00 a year to $1,100.00 a year.

State Farm knows we have to bite the bullet. If you have a mortgage, you have to have insurance, and we can consider ourselves lucky we weren't simply dropped completely, like a goodly number of my friends have been, who lost everything, and collected only a pittance.

And then they have the hypocritical *gall* to pump up their "Good Neighbor" ad campaign.

*sheesh!*

Comments

[piplover.livejournal.com]

I think you should start looking around for a new insurance. I've heard a lot about the "Good Neighbor" people, and how they are screwing royally with people. Sheesh. What bastards!!!! Sorry for the language, but it really isn't fair to you or anyone else! That really sucks, sweety.

[dreamflower]

No good. We've looked around. People who want to switch end up not getting accepted by other companies, or the premiums are even *higher!* No one really wants to insure anyone down here. Some people have had to pay out all their settlement to get into a new place--they can't get a mortgage because the insurance companies won't take them. So they paid cash on a home half as nice as the one they lost, and have no insurance on it. And that's not counting all the people who couldn't get anything at all.

Yeah. We've been with State Farm for almost thirty years. It really does suck.

[celandine-g.livejournal.com]

This is really terrible but I have heard of so many horror stories and people still waiting for insurance payments after a year.

I remember a long time ago having a small fender-bender accident with a claim of around $1000 and my rates promptly went up about $350/year for three years--even though I had never had a claim with them after twelve years of insurance. Had to laugh at that one but like you said, we have no choice about car or home insurance so the companies have definitely "got us." And I so agree, it's adding insult to injury to have to endure their sickening, "we care about you" TV commercials--which are such garbage.

Can't you find another company? Or are they all shying away from your area. It's funny since I would think that the odds are against your getting hit again for a long time.

[dreamflower]

You're right--they are shying away.

And I'm afraid that the odds are we will get hit with another hurricane--maybe not this year, but probably next, since the Gulf is so much warmer. And it wouldn't *have* to be a Cat. 3 or 4 or 5. With all the stuff still to clear away, even a 1 would be more than this area could handle.

but according to the administration, it has nothing to do with Global Warming

Yeah. Right.

[elandulin.livejournal.com]

There ought to be a law making this sort of extortion a crime.

We watched Syriana last night; got a real good glimpse of the kind of people who have all the money in the this country. We are so cooked if we don't get these SOBs out of there....

[shirebound]

And then they have the hypocritical *gall* to pump up their "Good Neighbor" ad campaign.

That's almost the worst part of all of it. *sigh*

[mews1945.livejournal.com]

I can accept the fact that the PTBs in these organizations are all money-grubbing, greedy, selfish SOBs. what I can't stomach are their smarmy claims that they are looking out for their patrons and how much they care about all of us. They would see us go down in a flood without so much as batting an eye. If they would just admit they're a business and profits are the bottom line, I wouldn't love them, but at least I'd respect them for telling the truth. I hate lies more than anything else I can name, and I know very few businesses that are run by honest people.

[rhapsody11.livejournal.com]

un-be-lieva-ble.

First you guys are left all alone after Katrina hit you and destroyed so much, and now the insurance companies want their share back, one way or the other?

I know you live in an area where a hurricane might land, but this is just ridiculous.

[fafojoy.livejournal.com]

We had a series of storms go through here in 1999 where the hail damage meant new roofs and siding for most houses, and our premiums doubled too. I doubled my deductible and had to buy extra coverage for all my computer stuff just to keep the premium under $800 year. And no water coverage at all - floods, pipes, nothing. Nor mold.

I know the philosophy of insurance is to spread the risk, but it seems between fires, floods, earthquakes, hurricanes, and tornadoes, there is damage everywhere.

I figured it out once, that my premiums after living here for 7 years almost covered the roof/siding from the '99 storm.

I cannot imagine what will happen if the insurance companies decide they won't insure people in hurricane areas.

[surgicalsteel.livejournal.com]

Bastards. *hugs you*

[grey-wonderer.livejournal.com]

That is as bad as health insurance that won't cover pre-existing conditions like diabetes and heart problems! If they are going to offer insurance in your area then they should cover everything that can happen in your area. that is disgusting! I am wondering if the agents that live in your area are still covered at a reasonable rate.

[topaztook.livejournal.com]

Hmm. I wonder what a viral "anti-marketing" campaign about companies treating Katrina victims in such a manner would look like. Just idle speculation. Of course. ~

[maidenform.livejournal.com]

*headdesk*

Do these people have any idea what the people in your area experienced during Katrina? Honestly, the sheer unkindness of these people sickens me.

*hugs*

[elasg.livejournal.com]

I am not surprised. Irritated, yes, but nothing that the feds and the corporate thugs are mishandling down there suprises me anymore.

[elanor1013.livejournal.com]

One thing you might want to do is write a letter to your state insurance commissioner and encourage your friends to do the same. My current understanding (though I was about 10 at the time) was that something similar happened in Florida after Hurricane Andrew, and Bill Nelson (now a US Senator probably because of this) who I think was the insurance commissioner at the time, went after the insurance companies' bad practices with a good deal of success.

[lilybaggins.livejournal.com]

I had no idea insurance providers could raise a deductible without your permission... it all sounds very strange, to me. I guess since it's State Farm, they're well aware of their legal rights, but it's completely unethical, in my opinion, to take advantage of people's plight like that.

I really detest insurance companies.

[westwindschild.livejournal.com]

:(

I cannot believe they have the unmitigated nerve to continue to promote the "Good Neighbor" thing after this.

*hugs*