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Insurance companies are a rip off.? Be careful.

Discussion in 'Off Topic Threads' started by smsnyder, Mar 12, 2011.

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  1. smsnyder

    smsnyder Well-Known Member

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    Ever been scammed by insurance companies due to fine print in there policy? I personally hate insurance companies. They want your money but don't want to pay you when problems arise? Let's here what happened to you. How about an 18 year law suit and the insurance was found guilty of fraud by trial? Insane for a law suit to go this long. It's hard to fight big corporations. How about a valuable item that was destroyed in my house by falling due to wind. Claim denied because wind damage inside house was not covered. A joke. Read your policy. If you ever been scammed by an insurance company I got the lawyer. No fee till you win. A friend of mine just died. He had life insurance but insurance did not want to pay money out in a lump sum to his wife. They wanted to give her monthy checks. My other friend was hit in the back of his truck while parked. Insurance wanted him to pay two deductables because there was damage in the the front of the truck also. What if your house catches fire. Are your guns covered? Even though you are covered for home contence you have to buy additional insurance to cover firearms. Figure that out? Be careful
     
  2. b12

    b12 Well-Known Member

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    Insurance co. should not exsist.
     
  3. hmb

    hmb Well-Known Member

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    If you buy cheap insurance that you get what you pay for. HMB
     
  4. AveragEd

    AveragEd Well-Known Member

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    I've recently had both good and bad experiences with insurance companies. Our son's Blazer was totaled when a woman made an illegal U-turn in front of him and her carrier, Erie, offered me $6,900 for a vehicle I knew could not be bought for less than $9,000 at auction (at the time, I did business at Manheim Auto Auction). After a civil conversation with their claims manager, they paid me $9,200 for it.

    On the other hand, my wife's Grand Am GT was totaled by an inattentive driver who rear-ended the car and pushed it into the car in front of hers. His carrier, Donegal Mutual, offered us $6,200 for the car. It was eight years old but only had 60,000 miles on it and was in near-new condition but they wouldn't budge. I even brought them sales reports and photographs from Manheim showing that other cars like hers but with higher mileage, less equipment or in poorer condition brought more in a wholesale environment than their supposedly-retail offer. I went so far as to file a complaint with the Pennsylvania Insurance Commission but was told that Donegal was using an "approved" value guide so I had no claim. I eventually accepted their check.

    Our future daughter-in-law is an adjuster for a local company and tells us horror stories about what she is instructed to decline and the tactics she has to employ to wear down property damage claimants. Bodily injury claims that might attract an attorney are settled much faster and more fairly.

    My point to both Donegal and the Insurance Commission was that it should not cost victims of insured negligence anything to restore their property to its former condition. No one seemed to care.

    Insurance companies aren't my favorite folks either.

    Ed
     
  5. grntitan

    grntitan Well-Known Member

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    smsnyder--I wouldn't mind knowing some of these Insurance Companies names. That way if anybody happens to be holding a policy with them they can make choices before they find out the hard way. ALL insurance companies can be slippery snakes if you don't read closely.
     
  6. InsureGuy

    InsureGuy Member

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    As much blowing as your doing now, I'm not surprised that theres not hurricane force winds in you place all the time.


    Simple solution here, just dump that damned old insurance company and take the risk yourself. Save that premium and stick it in your pocket. You'll be a winner for sure. As far as the lady and the life insurance goes, that's a crap story. The company standard procedure is to give a client options regarding the disbursement of funds. Monthly payments are just one of many. Unless you were involved directly, I would not espouse them here as the gospel.


    I guess I just tire of all the bashing that goes on. I see payouts these days that just blow my mind. I hear stories like "my car was in pristine condition" or a guy that stated his son had "110,000" worth of personal property at the residence when the house fire occured. Hmm, the kid was 14 at the time living in a 1900 square foot house. Kinda trips my bs meter what people try to claim.


    Here's an idea, instead of calling one of those "over the phone" company's so you can save $28 a year, get you an agent, and ask some direct questions. Or, and heres a lot to ask, read your policy jacket when it comes to you in the mail. I'll bet you could recite 18 different recipes for green dot powers and give me the model number for every wad you ever used, but couldn't tell me what your "additional living expenses" on your home owners policy mean.


    I'm not picking on you, but you take out your largest paint brush, and start making statements like they are all crooks and robbers, your asking for someone to take a shot. Insurance companies will pay all valid claims. The problem occurs when people have an unrealistic expectation of both, how quickly it will happen, or how much it was worth. By being patient, and being fair and honest about your loss things should go just fine. But generally peoples first inclination is to embellish the damage as to increase the amount. I think a large majority of folks look at an accident where they were hit by someone, as hitting the mini lotto. My "neck" my "back" " I can't walk no more" but they will dance all the way to the bank..........


    Jason
     
  7. over the hill

    over the hill Active Member

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    It's the claims adjusters that irk me.

    Had a situation one time where this joker shows up to look at my totaled Olds wagon. He's dressed in Cowboy attire, takes pictures with a disposable camera.

    Car was obviously a total and he says, "where do you want to get repaired"????

    Lucky for me I had receipts of recent repairs, so I at least got some of my expenses back. A 5yr. open medical as well, which I didn't need.


    Regards....Gerald
     
  8. likes-to-shoot

    likes-to-shoot Well-Known Member

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    I must be one of the lucky ones. All my dealing with the Insurance Companies have been fair to both parties. I hit a raccoon in the late fall, had the car repaired and in the spring when I turned on the air conditioner it wouldn't work. Come to find out the raccoon had smashed the condenser also. I called the Insurance Company and the same adjuster came and looked at the car again, and authorized the repair.

    Jason, not all people think they are hitting the 'mini lotto' either.
     
  9. InsureGuy

    InsureGuy Member

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    Likes to shoot - maybe you'll notice I did not use the term "all" and instead used the term "large majority". Right there is proof positive of what I'm saying. It wasnt in "fine" print that I said it.
     
  10. likes-to-shoot

    likes-to-shoot Well-Known Member

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    Your right, I should have worded it differently....

    I don't think its a LARGE MAJORITY of people who think they have hit the 'mini lotto' Your assessment of the LARGE MAJORITY of the people is incorrect in my opinion. There are more honest people than dishonest, don't you think?

    Sorry for the misunderstanding.

    Bill
     
  11. spitter

    spitter Well-Known Member TS Supporters

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    Being a Life/AH Broker, my claims are a different sort, but I get involved with "nuisance" issues...

    In 29 years, I've never experienced a life claim denial, although early on with AIDS, we had fully underwritten folks "reviewed" more closely, but with exams, records - the technology did not catch HIV antidodies and the claims got paid. Today, lie on the application, claim non-smoker when a smoker and you will get denied.

    As far a customer service - I recently delivered a check for $500K in less than 3 weeks from mailing to delivery. If I tally my benefit checks, I've delivered nearly 6 million in claims over my nearly 30 years from $1000 - $1.3MM...

    Medical claims get nit-picky on occasion - expensive medical equipment as opposed to more basic units - diabetic pumps, etc... More often than not it's a matter of doctor/Insco communication. Understand that Rx's are filled and watched for quantity and time sensitive for eligibility.

    MedRx... check your formularies for the Rx's you take... not all drugs are accepted by all insurance companies...

    Regarding some of the illustrated P&C examples above, if someone else's insurer offers you less than what is believed to be fair - you're under no obligation to accept the deal...

    Lastly, only transfer the risks or portions of risks, you cannot assume yourself...

    regards all,

    Jay Spitz, CLU ChFC
     
  12. ysr_racer

    ysr_racer Active Member

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    Make sure your home owners insurance covers all your guns. Most have a $2500 limit.

    You need a separate policy that lists your guns.
     
  13. DJM

    DJM Member

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    Insurance is a contract, and a highly regulated business. I suspect that nearly all claims are settled per the written contract. When you start asking questions when someone claims they got "screwed" by their insurance company you find out the insurance company did in fact fulfill the contract they were paid for. We want to be paid for all loss regardles of what we paid for. And we do not study our insurance contract until we have a claim. I'll bet a paycheck that there is far more money paid out by insurers in fraudulant claims than underpayments to legitimate claims by policy holders.
     
  14. wireguy

    wireguy TS Member

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    Liberty Mutual. One of the biggest rip off artists in the business.
     
  15. AveragEd

    AveragEd Well-Known Member

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    Another type of auto policy that sounds great but can be a big problem is the "full replacement" type like those depicted in the TV commercials where the guy pulls another car just like his out of the trunk of his heavily damaged one. I had a customer who had one of those policies suffer a vehicle fire and had the SUV towed in for repairs. I told the insurance carrier - The Hartford, I think - that I couldn't provide an estimate on fire damage and was told, "That's okay - those things cost $45,000 new so don't bother calling me until you get to about $35,000."

    Because he had the type of policy he did, the insurance company wouldn't total the unit and wouldn't pay for a similar rental, so he had to drive an econobox for the 11 weeks we had his vehicle. When we got close to $30,000 in repair costs with $7,000-worth of paint work remaining to be done, I let the adjuster know. I was told once again that they would be repairing it as long as the repairs don't exceed the cost of a brand new one. I replied that I understood that but with fire repairs, you don't know the repairs are finished until you stop finding something else every time you think you're done. "Just keep going until you get to $45,000," I was told.

    Another customer had her car totaled in anyone's opinion but had one of those policies. After a lot of fighting, we repaired a car that was nearly non-repairable and had to endure the customer's very real and ongoing complaints about rattles, squeaks and water leaks that couldn't be helped, given how crushed the poor car was. On top of that, the compact car had hit a dairy cow that was out for a stroll on the highway on a foggy night and the interior was soaked in blood and other bodily fluids from the cow being cut up during its trip through the windshield. Even though the seats and carpeting were replaced, there were some odd odors on warm days that we never were able to eliminate.

    I did not want to repair the car in the first place, but the customer was a loyal service customer who had purchased numerous cars from us and begged me to do the work, so in the interest of customer retention, I caved in. Because I was never able to correct all the little leftover problems, she bought her next car elsewhere. That was when I decided that I would never allow an insurance company to dictate to my shop again. If they wanted to repair a total loss, they had to find another sucker to do it. I made sure my customers were told why and were given the telephone numbers of those other two customers.

    Ed
     
  16. InsureGuy

    InsureGuy Member

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    Wireguy, I'm thankful that we live in a nation that gives us the freedom to express our our opinions. No matter how ignorant they may be.


    Don't take my opinion, just look at a JD Powers ranking for a list of insurers. I am sure you can pick a good one from there.
     
  17. Bertmuss

    Bertmuss Member

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    Life Insurance co.'s are the only ones I have never heard horror stories about, but them most of the deceased that I have known were not big complainers, anyway. Could it be that our spouses think that any kind of a settlement check is a pretty good trade for our ornery hides. RM
     
  18. TOOLMAKER 251

    TOOLMAKER 251 Active Member

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    Your guns should be covered under contents if damaged or ruined due to fire, mine are. Only ever had 1 home owners claim in the past 35 years and it was promptly taken care of. I only had 1 auto insurance claim in the same amount of years on a 3 week old 2003 Ford Explorer when a 89 year old guy lost control of his car in a shopping center. He hit the gas pedal instead of the brake, and hit me head on, it's no fun getting hit in the face with a deploying air bag. The bottom line was this eastern European had no insurance and it cost me $250 (my deductible) I didn't pursue going after him, I don't know if my insurance company did.
     
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