I hate insurance companies

[Dstegjas]

I’m speaking of home owner insurance specifically. Of course none of them have your best interests in mind. A few months ago our finished basement flooded. The sump pump had failed and of course there was no warning. The insurance covered the removal of carpet and two couches. Then had fans that dried out the floor. They replaced the carpet and padding along with two couches. The total amount of the claim was $10,000. With a $2,500 deductible they paid out $7,500 for the claim. Now keep in mind we have not had a claim in over 30 years. We found out today that our insurance rate was increased by almost $300 a month. The insurance company will recoup what they paid us in about 2 years. Then of course the monthly amount will not go down after that time. After talking to our agent, his response was a very flip response of “That’s how insurance companies work”.

There is no doubt in my mind that this is why people hate them so much. Of course there is nothing we can do about it other than search for better companies, which there are none. In case you are wondering, it was Grange.

Thanks for letting rant about all this. What are some of your experiences.

 

[Alan]

Wow, that’s frustrating! It’s crazy how quickly rates can skyrocket after a claim, even with decades of no issues.

 

[wapakfred]

I do everything I can to avoid filing a claim with my carriers. I have what most would very large deductibles on our policies ($5K house, and $2500 on the cars) and like you I haven't filed a claim.....well, I can't remember filing a claim. But I know for sure if I do they will get it back. These TV ads where they always have your back are just BS. To me, happiness would be seeing the Allstate Mayhem guy stuff the gekko down Flo's throat. This ideally should happen while that serving that emu for dinner.