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How has the insurance co done you wrong?

Discussion in 'Off Topic Threads' started by Auctioneer, May 10, 2010.

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  1. Auctioneer

    Auctioneer Well-Known Member

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    I have heard how insurance co have dropped people for big things and then for little to nothing. I have also hear how they wanted to tell you what you should and shouldn't have in your house or place. What have they done for you?
     
  2. likes-to-shoot

    likes-to-shoot Well-Known Member

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    It might be true that there are some cases where people have had a nightmare with insurance companies but they are leaders in workplace safety. They come in and inspect job sites and make suggestions on safer practices and give reduced rates to companies complying with the suggestions. Its a win win situation for companies and employees alike.

    As far as our experience with our personal insurance company we have all of our policies with one company and couldn't be happier with their services.

    Bill
     
  3. Easystreet

    Easystreet Well-Known Member

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    About 20 years ago, a teenager ran a stop sign and hit the right front fender of my vehicle. The teenager was clearly at fault and the police report said so. However, the teenager's dad had the vehicle insured with the same insurance company as I had. So, when I tried to get the insurance company to pay for my repair bill, they made me pay the deductible and charged it to my "collision" policy. I told them that this was unfair and that I shouldn't have to pay anything since the accident was clearly not my fault. They cited some legal mumbo-jumbo and would pay only the part of the bill that exceeded my collision deductible. I was pissed, but it wasn't worth taking it to court for $250. Soon thereafter, I switched both my home and auto policies to another company.

    Easystreet
     
  4. cubancigar2000

    cubancigar2000 Well-Known Member

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    Having worked in the Ins industry for many years I can say with confidence that most of the cases where people think they got screwed are because they do not understand their policy and coverages. With that said I will agree that some companies treat their policy holders better than others. After 25 years in the Industry I switched to USAA. I watched how they treated people for years and as soon as they allowed enlisted military in I jumped. There are other great companies and some real shit head companies but I wont post it here
     
  5. highflyer

    highflyer TS Member

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    The way they screwed me is by paying all but a fraction of my medical bills, by replacing my roof after a hail storm, by paying to fix my car when someone ran into me, by paying someone else when I ran into their car. Those evil insurance companies.
     
  6. Doug Briggs

    Doug Briggs TS Member

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    Insurance companies make money collecting premiums, NOT paying claims. Progressive and Aflac have been two of the best stocks I ever owned. They don't double their share price by being generous with claims. Warren Buffet owns Geico.

    I personally think all insurance should be outlawed with the exception of liability. If we all had to be financially responsible for our actions, the world would be a better place.
     
  7. Tron

    Tron Supporting Vendor Supporting Vendor

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    When I was at the dealership, the lion share of my work was insurance jobs. I've come to believe that people seem to have no quams about screwing over an insurance company (actually it's almost acceptable by most peoples standards)....but, if it's the other way around, the insurance company is the evil merciless enemy of all.

    I've seen insurance fraud on an almost daily basis and it makes me sick.
     
  8. shannon391

    shannon391 Active Member

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    If you don't like insurance, pay cash for everything and don't buy it.
     
  9. AveragEd

    AveragEd Well-Known Member

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    I've had good and bad experiences. The only time we had a homeowner's claim, it was handled well (we're with State Farm for everything).

    When we were with State Auto, our son had a driver slide on ice out of a parking lot onto the street. Our son j-u-s-t got stopped and the other vehicle slid out in front of him and got its side creased by our bumper. Before I knew it, our insurance company paid the other driver's claim without even speaking with our son or us, which raised our rates because of an underage driver. That's when I left State Auto.

    Two years ago, my wife's car was totaled by a driver who hit her in the rear, driving her into the car in front of her. The at-fault driver's insurance company, Donegal Mututal, assumed full responsibility but offered us about $1,700 less than I could buy a similar vehicle for. We argued back and forth for two months and I even wrote to the Pennsylvania Insurance Commission, but was told that the vehicle value guide that Donegal Mutual used was a recognised one and that they were doing nothing wrong. I went to Manheim Auto Auction, where I am still licensed to buy cars, but couldn't find a similar car even at wholesale for what they offered us. Donegal didn't budge even after I showed them the auction reports, so I told them to find me a similar vehicle.

    They called with the phone numbers of two dealers (one that was 150 miles away). I called both; one did not have a car but said it would probably be able to sell us one for that amount if they had one and the other had a car but it was lesser-equipped and had significantly higher mileage.

    I asked Donegal's claims manager if he thought it fair that the victim of their insured's negligence should have to add his own money to the insurance company's to restore his property to its pre-collision condition. He said that wasn't his problem. We eventually took their offer, so they won.

    Perhaps five years ago, a woman made an illegal U-turn in front of our son, who hit the woman's vehicle. Her carrier, Erie, totaled his Blazer and when their offer was less than I showed them I could replace his vehicle for, they paid the difference without much debate.

    I was involved in an accident about 10 years ago where a young driver not paying attention sideswiped my car even though I had pulled over against the curb and stopped. We had the same insurance carrier (State Farm) and it turned out that he had a long history of citations and collision claims, so he was listed as an excluded driver on his father's policy. State Farm still paid to repair my car but under my uninsured motorist coverage, which has a $500 deductible.

    Insurance companies are like people - there are good and bad ones.

    Ed
     
  10. cubancigar2000

    cubancigar2000 Well-Known Member

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    Tron is right on. It is a fact that 25% of all claims are fraud
     
  11. Catpower

    Catpower Molon Labe TS Supporters

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    In fifteen years we had never had an insurance claim on our farm and ranch ins, last Oct 1 we had a tornado come through and hit one of our shops, a 50X60, messed it up bad, called the ins company, they said it wasn't covered that we had taken it off the policy, we said no, we took the contents off the policy, and the lady said that we had taken the whole building off and signed off on it, ALWAYS READ THE POLICY VERY CAREFULLY, as they had taken it off and we didn't notice, so we were screwed
     
  12. Auctioneer

    Auctioneer Well-Known Member

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    We made 2 claims in 20 years of paying. It was 1985 and we had a wind storm that took out the west end of our hay barn. All of it. They payed to have it taken care of. In 1988 we had a micro burst wind take out 7 tree's in our yard. One of the 7 went into our breakfast room window and a second tree hit a chimney and landed on the metal roof. After everything was fixed they dropped us. All two claims were weather related. To just drop us after 20 years was cold. After 6 or 7 insurance co rejected our place for coverage we did find one that said yes. The reason they rejected our place is because the house and barns are ove 100 years old. House 170, one barn the same, second barn over a 100 and the third barn has a second barn on it foundation. Built about 1910. Sorry that our house didn't look like the White House. We were told by some of them that they did like the place because it was not fixed up the way they wanted it to be. BS BS BS. I'm the 5th gen to live here.
     
  13. superxjeff

    superxjeff Active Member

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    Very few people have paid out more then they have recd in return from insurance companys. 9o% of the bad claims I have heard of or been involved with were a direct result of people wanting something that the policy does not provide. I was an agent for many years and have heard it all... When people get their advice from the neighbor, the brother in law and the " Buddy" instead of a licensed agent that carrys advanced certification in the insurance industry they are bound to be dissapointed. Insurance isn't how YOU think it should be! It's what is stated in the policy and nothing less/nothing more. That said there are situations like Eds above where he did all the right things and still got screwed. I would have made them buy me another car with similer milage and equipped the same way. BUT.... They know that most people need the money and if they hold out most people will give up. the best insurance isn't always the most expensive nor is it the best to have the cheapest. Jeff
     
  14. Easystreet

    Easystreet Well-Known Member

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    Quote: "Very few people have paid out more then they have recd in return from insurance companys."

    Ha ha. That's a joke! How the heck do you think that insurance companies stay in business? It sure as heck isn't by paying out more than they take in.

    In 40 years of home ownership, my wife and I have collected exactly ZERO dollars on our homeowner's policies. Also, in that same 40 years of both of us driving cars and me riding a motorcycle, the only time I collected on any car or motorcycle insurance was the instance I mentioned above..... and that incident was the fault of the other driver, but I had to pay the deductible under MY policy.

    I figure that in the 40 years my wife and I have been married, the insurance companies (home and auto) have collected about $80,000 from us and we collected a grand total of about $2,000. Now tell me who came out ahead in that situation?

    Easystreet
     
  15. JACK

    JACK Well-Known Member Supporting Vendor

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    I was recently involved in a collison whereby a lady drove right thru a stop sign. Totaled her mid-sized SUV and my full size SUV. Her insurance comapny has 100% reimbursed my insurance company and paid my deductible and in the process of paying my emergency room bodily repairs. I received full retail value for my car + the sales tax to boot. My $ total so far is about $31,000 and counting. Banged up my shooting hand. Couldn't type worth a twit before, and now I cannot hold a pen for more than just my sketchy signature. It 's OK tho, as I shoot a release.
     
  16. halfmile

    halfmile Well-Known Member

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    Yes, jpoor insurance companies, everyone defrauds them, not making any money boo hoo.

    That's why when Heritage built their palace on I-43 by Sheboygan, Wis. they had ALL the support columns on the first floor boxed in in Teak Wood.

    Mega $$$$.......Poor insurance company. Prolly wanted to do them in Italian Marble.

    HM
     
  17. BIGDON

    BIGDON Well-Known Member

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    Easy; Why don't you go check up on the definition of Pooling of the Risk. Excuse me but I didn't think Insurance companies were in business to lose money. Keep your premium and pay your own claims. But you better watch for the uninsured drivers out there because in some areas they are as high as 50%.

    To many people when buying want the cheapest coverage there is but when they then have a claim they want the coverage of the more expensive.

    Some, like thread originator, are so paranoid that they think employees of the Insurance companies are going to help someone break into your home and rob you. Read auctioneer's property inspection thread where he hides things from the inspector, as I told him he may have trouble if he has a claim collecting on those things. Also he lives in a 170+ year old house, now what insurance comp. in their right mind wouldn't want to inspect it and to check for updates. Obviously other insurance companies took a pass on insuring his palace.

    This crap just keeps re-cycling every so many months by the same posters.

    Don
     
  18. Easystreet

    Easystreet Well-Known Member

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    Quote: " Excuse me but I didn't think Insurance companies were in business to lose money."

    Don,

    That's precisely my point. Insurance companies are NOT in business to lose money. That's why it is laughable when SuperXJeff claims that very few people have paid in more than they get back from the insurance companies. And he says he was an insurance agent for many years and claims to have "heard it all." My guess is that what he has heard is the people who have claims, but he never hears from the thousands of people like me who just keep sending in their premiums year after year and never collect a dime.

    Personally, I'm glad that my house didn't burn down and that I wasn't involved in any accidents (other than the minor one I mentioned above). The main thing that burns me about insurance companies is that they seem to be dishing out money to SOME people who have frivilous and/or fraudulent claims, but when someone who has quietly paid his premiums for many years has a legitimate claim, the insurance company rakes him over the coals in an attempt to screw him out of every dime possible. I WANT insurance companies to make a profit and stay in business, but it should be by controlling their budgets and denying fraudulent claims, not by sticking it to those who have legitimate claims.

    Easystreet
     
  19. SirMissalott

    SirMissalott Active Member

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    Living in Fla. after the storms we and MANY others were dropped by our carrier I was with them for 30 + years with very few if any claims. However giving the devil his due our state government capped the amount of profit they could make thereby reducing the number of carriers that were willing to do business in Florida. Further reducing competition yada yada yada etc...
     
  20. GunDr

    GunDr Well-Known Member

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    Our homeowners ins is through Farmers Ins. About two years ago a hail storm came through and beat the he!! out of one of my 30x40 metal buildings. It is located on another piece of property 6miles from the house.

    A call to Farmers had an adjuster out the next day and a $7,000 check in my hand in one week. The building cost me $7,000 ten years ago.

    This year, Farmers contacted us and said our policy was re-examined, and gave us a $600+ reduction in our annual premium and increased our coverage. I called and met with the agent several times to be sure it wasn't a mistake or April Fool's Joke. He told me it had to do with some type of fire rating and how close we are to the FD and if it was a full time dept or volunteer. We live 3 miles from the station and it is volunteer.

    My wife and I are happy.

    Doug
     
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