Homeowners Insurance

[webbmeister]

Brad:

If you have any military service, you might want to give USAA a call. It used to be just for officers - now covers just about everyone. Solid company, excellent rates, and *rebates* of unused funds at the end of each year.

Jim

 

[cowboydoc]

Yes malpractice insurance is insane Mike. I have never even had one single complaint brought against me in 11 years of practice. The US is the only country in the world where we let this kind of insanity go on.

 

[wroughtn_harv]

Yeah, we just renewed. Ten freaking years with the same agent and company and we get hit with a forty percent jump. After looking at our options we decided to accept more of the responsibility to keep the cost down. We bumped the deductible from two hundred fifty to a thousand. We still got a bump up but it wasn't near as severe.

We've never had a claim but that doesn't count. We live in tornado alley and there has been a ton of claims for the mold to boot.

What gets me is the insurance companys fold the tent and pay if the litigation expense might be more than just paying the claim if it's justified or not.

Then they scream foul about the cost of ambulance chasing lawyers.

I mean, heck, they've created a system where some scumbag that can't get work doing what he's trained to do can bottom surf for clients that might or might not be due compensation. All he has to do is write the letter to the insurance company and he knows if he keeps the demand within limits he's gonna get forty percent for a couple of meetings with the complainer, a couple of form letters to the claims department, and jeez, he can do ten or more of these a week and make more money than gawd.

And the insurance company is the one that's created these monsters. And we through our premiums feed them, both the monsters.

 

[Bird]

Ouch, I just renewed my homeowner's policy with an 11.6% increase in the premium this year, but guess I was luckier than most.

 

[bgott]

I still haven't heard back on putting my house on my rental insurance. That went up from around $2000 to $3400 this year. I'm really dreading that next year. I really can't stand the thought of having to find another company for that if they dump me. My liability wasn't that much but I added property insurance in case of a catastrophic loss, like a tornado taking out five or six units. I really wouldn't want to go back to having to stand on concrete ten hours a day.

 

[gobbler]

There is an article in today’s local paper that State Farm will not be accepting any new homeowners policies in the state of Missouri and four other states.

Here’s a link to the article from the St. Louis Post-Dispatch.

<A target="_blank" HREF=http://home.post-dispatch.com/channel/pdweb.nsf/da37732b0078d6c285256ad500494df3/86256a0e0068fe5086256bde003a4c74?OpenDocument>http://home.post-dispatch.com/channel/pdweb.nsf/da37732b0078d6c285256ad500494df3/86256a0e0068fe5086256bde003a4c74?OpenDocument</A>

 

[woodmills1]

I don't know if they write in your area, but try farm family casuality insurance company. they did me right after i was getting beat up by some others.

 

[rocky2]

This seems to be the new trend in insurance. US News and World Report (last month) did an article on just your situation. The old "mold" bs. One of the guys who was in the article (from Texas) saw his rate double to $1700 because of the mold issue. He never had mold, never, ever put in a claim to his homeowners since he's had it for anything.
Now here's a real crock of s***... now the insurance companies are using your credit report to base insurance premiums!! Their take is; if you're late on your credit card payment you won't take care of you property so you're a risk ! And, if they feel like continuing your coverage, your rates will go up. Here in PA, my carrier just sent me a form letter saying "thank you for your continued business, and by the way, if you ever put in a claim then your rates will go up. Because, based on statistics THEY came up with, THEY can assume that once you put in a claim, you will put in a claim sometime in the future...and hence, you fall into a repeat pattern" costing them money. Where's all the congressional reviews of this ??? Gotta have insurance for you bank, or auto insurance for your registration. [censored] lawyers and bankers...and now the "techno" brokers of wall street. Interesting how the suits who never get their hands dirty can control so many lives with loopholes and laws.
And everyone thought John Gotti was such a bad guy !!!

 

[cowboydoc]

You're right. The insurance industry is one of the biggest crooks in the country. Next to drug companies they have the highest number of lobbyists in state, local, and the federal govt. Here is the article from State Farm.

State Farm cuts back on new policies in over 20 states, including Iowa


UPDATED: 6/20/02 11:15 AM
ASSOCIATED PRESS

BLOOMINGTON - The nation's largest home insurer says it is cutting back or placing a moratorium on writing new homeowner policies in more than 20 states because of losses.

Bloomington-based State Farm Insurance began notifying regulators in affected states this week. Illinois is not one of them.

State Farm spokesman Phil Supple says the company is acting to counter a net loss of five billion dollars reported last year, when a series of natural disasters caused a dramatic increase in claims. He says refusing to take on new business shelters the company from taking on additional liability.

Customers who already have homeowner policies with State Farm will not be affected.

(State Farm is no longer taking on new homeowners' insurance customers in Arkansas, Kansas, Louisiana, Missouri, Oklahoma, Texas, California, Montana, Oregon, Washington, Idaho, Hawaii, Alaska, Maryland, Virginia, West Virginia and North Carolina. The company has capped the number of new policies in Arizona, New Mexico, Colorado, Utah, Nevada and Wyoming.)

Copyright 2002, Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or distributed.

 

[TBone]

<font color=blue>"One of the guys who was in the article (from Texas) saw his rate double to $1700 because of the mold issue."</font color=blue>

What is the mold issue??