Wonder Why We All Hate Insurance Companies?

[deanws]

Look at this. The people that were responsible enough to carry insurance....are getting shafted! This is horrendous!!!http://jurist.law.pitt.edu/paperchas...-companies.php They want their money...but when it comes time to pay out, they will do anything not to pay. I know that flood insurance is separate from regular homeowners, but some of these people need time to get advice before they sign ANYTHING! This just burns me up. I hope those who signed away their fair share of compensation from the insurance companies will be able to go back and renegotiate.

[kgeaux]

from your link:

Meanwhile in Louisiana Thursday, 14 couples, an individual homeowner and a business launched a legal action against 16 insurance companies in state court asking it to rule that neglect and wind damage caused the levees around New Orleans to break, disqualifying them as an "act of God" traditionally cited by companies as avoiding insurance liability. The plaintiffs are asking to have their suit certified as a class action.

The Louisiana homeowners are basing their lawsuit on the contention that what happened was not an act of God but resulted because of neglect and failure to improve a levee system that was known to be unable to withstand the forces of a hurricane greater than cat3.

I think the homeowners will win, and I think all these insurance guys ought to be ashamed to go out in public.

[deanws]

Originally Posted by kgeaux

from your link:

Meanwhile in Louisiana Thursday, 14 couples, an individual homeowner and a business launched a legal action against 16 insurance companies in state court asking it to rule that neglect and wind damage caused the levees around New Orleans to break, disqualifying them as an "act of God" traditionally cited by companies as avoiding insurance liability. The plaintiffs are asking to have their suit certified as a class action.

The Louisiana homeowners are basing their lawsuit on the contention that what happened was not an act of God but resulted because of neglect and failure to improve a levee system that was known to be unable to withstand the forces of a hurricane greater than cat3.

I think the homeowners will win, and I think all these insurance guys ought to be ashamed to go out in public.

I hope they do. Yes, it surely shows the scum side of insurance companies doesn't it?

[IrishMist]

Oooohhh... you've hit my sore spot on this one. I can't stand insurance companies, and the way they work. IMO, insurance is a racket.

Now don't get me started on credit card companies, or banks and their ridiculousfees and charges!

[deanws]

Originally Posted by IrishMist

Oooohhh... you've hit my sore spot on this one. I can't stand insurance companies, and the way they work. IMO, insurance is a racket.

Now don't get me started on credit card companies, or banks and their ridiculousfees and charges!

Yep...they are pretty much pond scum IMO. They pulled some real crappola down here in Texas a few years ago with the mold issues. They even tried pulling out of the area. State Farm quit writing new policies for a while. The prices went through the roof. Really messy situation. IMO

[DEPUTYDAWG]

Originally Posted by deandaniellws

Yep...they are pretty much pond scum IMO. They pulled some real crappola down here in Texas a few years ago with the mold issues. They even tried pulling out of the area. State Farm quit writing new policies for a while. The prices went through the roof. Really messy situation. IMO

Yes, I bought a house in TX in late 2002, and Farmer's, State Farm and USAA would not write any new policies because of the mold lawsuits. I had to go with a small company for big $$$. (I had been a Farmer's customer for 18 + years, previously.). A year later, Farmer's allowed each agent to write a maximum of 10 new home policies, so I got in under that. What a mess for awhile.

[deanws]

Originally Posted by DEPUTYDAWG

Yes, I bought a house in TX in late 2002, and Farmer's, State Farm and USAA would not write any new policies because of the mold lawsuits. I had to go with a small company for big $$$. (I had been a Farmer's customer for 18 + years, previously.). A year later, Farmer's allowed each agent to write a maximum of 10 new home policies, so I got in under that. What a mess for awhile.

I was with State Farm from the time I was 20 (when we bought our first home) until I 39. We moved and bought a bigger home...and although we had NEVER had a single claim..........they wouldn't write the policy for our new home. They said Texas State Farm companies were not writing ANY new policies until the lawsuits were settled. We finally got HM to write the policy. They were still writing policies for teachers. Thank goodness. IMO

[BirdieBoo]

I also hate insurance companies. It goes back to a time when I was robbed, while moving, no less, and they would not cover the items that were stolen, which were several boxes of small items but added up to several thousand $$$$.

Unfortunately, because I did not have pictures and receipts of my several boxes of clothing, cookware, and camping items which were stolen, they did not cover me, even though I'd been faithfully paying my premiums for years.

Now I have several boxes of receipts, for everything I've ever bought since then. So if it ever happens again, i've got receipts for documentation. I save every receipt for even the smallest item. Because when several small items add up, it's a lot.

[deanws]

Originally Posted by BirdieBoo

I also hate insurance companies. It goes back to a time when I was robbed, while moving, no less, and they would not cover the items that were stolen, which were several boxes of small items but added up to several thousand $$$$.

Unfortunately, because I did not have pictures and receipts of my several boxes of clothing, cookware, and camping items which were stolen, they did not cover me, even though I'd been faithfully paying my premiums for years.

Now I have several boxes of receipts, for everything I've ever bought since then. So if it ever happens again, i've got receipts for documentation. I save every receipt for even the smallest item. Because when several small items add up, it's a lot.

That is a shame Birdie. I hope you changed companies after that! IMO