Forums59
Topics1,039,700
Posts13,969,107
Members144,214
|
Most Online39,925 Dec 30th, 2023
|
|
Re: Insurance is a Scam
[Re: butch sanders]
#14329588
03/29/22 07:54 PM
|
Joined: Aug 2003
Posts: 30,323
RedRanger
burro desagradable
|
burro desagradable
Joined: Aug 2003
Posts: 30,323 |
My business property didnt go up to speak of. Kinda thought it would after a 90k hail claim. My personal house renewed after hail claim and didnt go up in november, the rest of my houses start renewing in sept so I will see then. You don't need it till you need it. I have been told hail is considered "Act of God" and isn't suppose to increase your premium. Now they will have premium increase for everyone if they have massive hail payouts, but not suppose to target an individual policy holder. This is what a few adjustors have told me they target zip codes I can see that
|
|
Re: Insurance is a Scam
[Re: Brent S]
#14329604
03/29/22 08:32 PM
|
Joined: Feb 2008
Posts: 3,170
Leonardo1
TFF Team Angler
|
TFF Team Angler
Joined: Feb 2008
Posts: 3,170 |
Technically “acts are of God” are not surcharged but most lose one of the many discounts they are receiving. Such as a “ no claims” discount which could be 15% or more. I cant be convinced that is not used in their rate adjustment calculations outside of an individual policy:
|
|
Re: Insurance is a Scam
[Re: Brent S]
#14329670
03/29/22 10:13 PM
|
Joined: Mar 2006
Posts: 8,248
reeltexan
TFF Celebrity
|
TFF Celebrity
Joined: Mar 2006
Posts: 8,248 |
Insurance Rule Number One - Call your agent every year when it's up for renewal and ask for his quote for the coming year.
If you haven't priced insurance in over three years I can almost guarantee that you are paying too much.
"..The pleasantist angling is to see the fish Cut with her golden oars the silver stream, And greedily devour the treacherous bait. Bill Shakespeare
|
|
Re: Insurance is a Scam
[Re: grandbassslayer]
#14329684
03/29/22 10:37 PM
|
Joined: Mar 2004
Posts: 10,700
Team Skeeterless
TFF Guru
|
TFF Guru
Joined: Mar 2004
Posts: 10,700 |
You should always use a broker- not the single source places like farmers, all state, etc. Totally disagree! Having been agency manager and now adjuster for almost 14 years I see independent agents or really any agent that needs to insure mobile homes get appoints through Foremost since they are basically only people to insure them and independents, State Farm, Farm Bureau and everyone but normally Farmers agencies since Farmers owns Foremost don’t know how to properly insure mobile homes. Keep on minds it’s on independents or agents that get appointments to store through multiple carriers to learn and understand what they are selling and I can tell you from lots of experience they either don’t take the time or understand anything other than they can find someone to provide a cheaper rate whether coverage is appropriate or not. You probably think whole life is a good policy as well….😅 No I don’t. But if you think all these independents really understand the policies they are selling folks your kidding yourself!! I’ve spent too much time on the industry and around agents to realize they sell by price. Cheap insurance can be just that. I’ve heard and seen agents tell people things are covered to get a commission when it’s not. I see improperly insured properties all the time and over 1/2 the time it’s bc the agent doesn’t really know the policy that well. Do you really think an independent that maybe has 20 companies to shop around understands the ins and outs of each policy and explains that to people?? I promise the majority don’t and they are just shopping for what looks like same coverage at cheapest price. Then just wait till you have a claim. Some can be horrible to deal with and some not so bad but your independent has no pull to assist you much if you are having a problem.
Nick Larsen
|
|
Re: Insurance is a Scam
[Re: Team Skeeterless]
#14329743
03/30/22 12:10 AM
|
Joined: Jun 2020
Posts: 11,230
grandbassslayer
TFF Guru
|
TFF Guru
Joined: Jun 2020
Posts: 11,230 |
You should always use a broker- not the single source places like farmers, all state, etc. Totally disagree! Having been agency manager and now adjuster for almost 14 years I see independent agents or really any agent that needs to insure mobile homes get appoints through Foremost since they are basically only people to insure them and independents, State Farm, Farm Bureau and everyone but normally Farmers agencies since Farmers owns Foremost don’t know how to properly insure mobile homes. Keep on minds it’s on independents or agents that get appointments to store through multiple carriers to learn and understand what they are selling and I can tell you from lots of experience they either don’t take the time or understand anything other than they can find someone to provide a cheaper rate whether coverage is appropriate or not. You probably think whole life is a good policy as well….😅 No I don’t. But if you think all these independents really understand the policies they are selling folks your kidding yourself!! I’ve spent too much time on the industry and around agents to realize they sell by price. Cheap insurance can be just that. I’ve heard and seen agents tell people things are covered to get a commission when it’s not. I see improperly insured properties all the time and over 1/2 the time it’s bc the agent doesn’t really know the policy that well. Do you really think an independent that maybe has 20 companies to shop around understands the ins and outs of each policy and explains that to people?? I promise the majority don’t and they are just shopping for what looks like same coverage at cheapest price. Then just wait till you have a claim. Some can be horrible to deal with and some not so bad but your independent has no pull to assist you much if you are having a problem. I don’t assume a store front insurance man knows anymore than a broker is all I am saying. My broker knows what he’s doing - and I do my due diligence.
|
|
Re: Insurance is a Scam
[Re: reeltexan]
#14329953
03/30/22 09:55 AM
|
Joined: Aug 2003
Posts: 30,323
RedRanger
burro desagradable
|
burro desagradable
Joined: Aug 2003
Posts: 30,323 |
Insurance Rule Number One - Call your agent every year when it's up for renewal and ask for his quote for the coming year.
If you haven't priced insurance in over three years I can almost guarantee that you are paying too much.
I have seen way too many people shop for the cheapest insurance they can get, and when they have a claim there insurance tells them to "Get Bent" I am not gonna compromise my assets for a few bucks.
|
|
Re: Insurance is a Scam
[Re: Team Skeeterless]
#14330018
03/30/22 12:31 PM
|
Joined: Nov 2011
Posts: 7,132
beartrap
TFF Celebrity
|
TFF Celebrity
Joined: Nov 2011
Posts: 7,132 |
You should always use a broker- not the single source places like farmers, all state, etc. Totally disagree! Having been agency manager and now adjuster for almost 14 years I see independent agents or really any agent that needs to insure mobile homes get appoints through Foremost since they are basically only people to insure them and independents, State Farm, Farm Bureau and everyone but normally Farmers agencies since Farmers owns Foremost don’t know how to properly insure mobile homes. Keep on minds it’s on independents or agents that get appointments to store through multiple carriers to learn and understand what they are selling and I can tell you from lots of experience they either don’t take the time or understand anything other than they can find someone to provide a cheaper rate whether coverage is appropriate or not. You probably think whole life is a good policy as well….😅 No I don’t. But if you think all these independents really understand the policies they are selling folks your kidding yourself!! I’ve spent too much time on the industry and around agents to realize they sell by price. Cheap insurance can be just that. I’ve heard and seen agents tell people things are covered to get a commission when it’s not. I see improperly insured properties all the time and over 1/2 the time it’s bc the agent doesn’t really know the policy that well. Do you really think an independent that maybe has 20 companies to shop around understands the ins and outs of each policy and explains that to people?? I promise the majority don’t and they are just shopping for what looks like same coverage at cheapest price. Then just wait till you have a claim. Some can be horrible to deal with and some not so bad but your independent has no pull to assist you much if you are having a problem. try calling your allstate,state farm,'progressive or geico agent and see how much pull he has when their insurance is trying to deny or cheaply fix a claim... one thing an independent agent does have is the option to quit selling an insurance companies policies if they don't treat his customers fairly on claims....
|
|
Re: Insurance is a Scam
[Re: Brent S]
#14330104
03/30/22 01:43 PM
|
Joined: Sep 2006
Posts: 10,043
Spiderman
TFF Guru
|
TFF Guru
Joined: Sep 2006
Posts: 10,043 |
I will just say this:
Allstate has a House & Home policy that has replacement coverage for the first 15 years (if you have 30 year shingles) then switches to Actual Cash Value and pays the remaining years this way.
For example, you buy 30 year shingles and they last 30 years. Have a hail storm and file a claim.
They pay zero based on the prorated warranty.
On a 20 yr roof claim they pay 1/3 less your deductible.
Buyer Beware!!!
The Truth is six of the seven Dwarfs are not Happy!
|
|
Re: Insurance is a Scam
[Re: Spiderman]
#14330339
03/30/22 04:29 PM
|
Joined: Aug 2003
Posts: 30,323
RedRanger
burro desagradable
|
burro desagradable
Joined: Aug 2003
Posts: 30,323 |
I will just say this:
Allstate has a House & Home policy that has replacement coverage for the first 15 years (if you have 30 year shingles) then switches to Actual Cash Value and pays the remaining years this way.
For example, you buy 30 year shingles and they last 30 years. Have a hail storm and file a claim.
They pay zero based on the prorated warranty.
On a 20 yr roof claim they pay 1/3 less your deductible.
Buyer Beware!!!
Allstate has really gotten bad recently, They prettymuch sux for water leak issues, Farmers used to be horrible and now they are ok, AllState is bad.
|
|
Re: Insurance is a Scam
[Re: Brent S]
#14330341
03/30/22 04:31 PM
|
Joined: Feb 2003
Posts: 55,364
SkeeterRonnie
Super Freak
|
Super Freak
Joined: Feb 2003
Posts: 55,364 |
Allstate is about to get dropped in my house. 4 vehicles, boat, PLUP, and Home Insurance. Looking at quotes now.
|
|
Re: Insurance is a Scam
[Re: Spiderman]
#14330342
03/30/22 04:33 PM
|
Joined: Feb 2018
Posts: 15,331
Sawhorse
TFF Guru
|
TFF Guru
Joined: Feb 2018
Posts: 15,331 |
I will just say this:
Allstate has a House & Home policy that has replacement coverage for the first 15 years (if you have 30 year shingles) then switches to Actual Cash Value and pays the remaining years this way.
For example, you buy 30 year shingles and they last 30 years. Have a hail storm and file a claim.
They pay zero based on the prorated warranty.
On a 20 yr roof claim they pay 1/3 less your deductible.
Buyer Beware!!!
I’m a thinker. If my insurance was going to be handled like that I’d just replace my roof every year so they had to pay the full amount.
|
|
Re: Insurance is a Scam
[Re: Sawhorse]
#14330383
03/30/22 04:52 PM
|
Joined: Mar 2005
Posts: 41,546
butch sanders
TFF Guru
|
TFF Guru
Joined: Mar 2005
Posts: 41,546 |
I will just say this:
Allstate has a House & Home policy that has replacement coverage for the first 15 years (if you have 30 year shingles) then switches to Actual Cash Value and pays the remaining years this way.
For example, you buy 30 year shingles and they last 30 years. Have a hail storm and file a claim.
They pay zero based on the prorated warranty.
On a 20 yr roof claim they pay 1/3 less your deductible.
Buyer Beware!!!
I’m a thinker. If my insurance was going to be handled like that I’d just replace my roof every year so they had to pay the full amount. you have to have damage
|
|
Re: Insurance is a Scam
[Re: butch sanders]
#14330411
03/30/22 05:16 PM
|
Joined: Feb 2018
Posts: 15,331
Sawhorse
TFF Guru
|
TFF Guru
Joined: Feb 2018
Posts: 15,331 |
I will just say this:
Allstate has a House & Home policy that has replacement coverage for the first 15 years (if you have 30 year shingles) then switches to Actual Cash Value and pays the remaining years this way.
For example, you buy 30 year shingles and they last 30 years. Have a hail storm and file a claim.
They pay zero based on the prorated warranty.
On a 20 yr roof claim they pay 1/3 less your deductible.
Buyer Beware!!!
I’m a thinker. If my insurance was going to be handled like that I’d just replace my roof every year so they had to pay the full amount. you have to have damage The gist of the bit was that I would replace it every year by paying cash, no insurance involved, so that if/when it gets damaged, insurance would have to pay the full amount. Some shenanigans land…some don’t.
|
|
Re: Insurance is a Scam
[Re: Brent S]
#14330515
03/30/22 06:45 PM
|
Joined: Jan 2007
Posts: 1,588
kcb
Extreme Angler
|
Extreme Angler
Joined: Jan 2007
Posts: 1,588 |
Some of these replies are amusing. Especially so for someone that has worked in the industry. Have a Nice Day.
|
|
Re: Insurance is a Scam
[Re: RedRanger]
#14330529
03/30/22 06:57 PM
|
Joined: Mar 2006
Posts: 8,248
reeltexan
TFF Celebrity
|
TFF Celebrity
Joined: Mar 2006
Posts: 8,248 |
Insurance Rule Number One - Call your agent every year when it's up for renewal and ask for his quote for the coming year.
If you haven't priced insurance in over three years I can almost guarantee that you are paying too much.
I have seen way too many people shop for the cheapest insurance they can get, and when they have a claim there insurance tells them to "Get Bent" I am not gonna compromise my assets for a few bucks. There are plenty of reputable insurance companies. Competition keeps prices low. Go ahead and pay too much, I'm good.
"..The pleasantist angling is to see the fish Cut with her golden oars the silver stream, And greedily devour the treacherous bait. Bill Shakespeare
|
|
Moderated by banker-always fishing, chickenman, Derek 🐝, Duck_Hunter, Fish Killer, J-2, Jacob, Jons3825, JustWingem, Nocona Brian, Toon-Troller, Uncle Zeek, Weekender1
|