Check your insurance policy..... NOW!

jbp-ohiojbp-ohio Senior MemberPosts: 9,618 Senior Member
This is the second time this had happened to me. Instead of raising your rates by say $50, the insurance company will cut something from your policy without notice, then only raise your rates by $30..

Nationwide did it to my car insurance. When my wife hit a deer with the Charger, we wanted a rental car. "You don't have rental coverage". What do you mean? I've always had rental coverage (20+ years)......

Nope, the year before it was cut. No notice. Maybe if I sat down and compared every renewal I MIGHT have noticed it was there on one and gone on the next. I didn't specifically look every year for each and every item (and that is what they count on).....

Progressive just did it to me on my homeowners policy. Everything was a $1000 deductible when I started the policy. Last year they changed (or at least they say last year, wife and I saw NOTHING) wind and hail deductible to $2500..... AND!!!! and changed the policy to cash value. So.... say my 6 year old roof cost $4000 to replace, they take off the $2500 deductible AND 6 years depreciation!

My contrator said he had never seen anyone take a Cash value policy except on rentals. Well, I had no choice in the matter. They slipped it in on me.

So........ read every page of every policy every year. You will have to remember every coverage you have and be able to notice it was there one day and gone the next!!!
"The democracy will cease to exist when you take away from those who are willing to work and give to those who would not." Thomas Jefferson

Replies

  • Big Al1Big Al1 Senior Member Posts: 7,147 Senior Member
    Insurance companies are the:devil:
  • jbp-ohiojbp-ohio Senior Member Posts: 9,618 Senior Member
    Yep. No vacation this year....... or Tennessee next month! May have to do the roof myself.
    "The democracy will cease to exist when you take away from those who are willing to work and give to those who would not." Thomas Jefferson
  • alphasigmookiealphasigmookie Senior Member Posts: 8,858 Senior Member
    Good lesson here. I probably need to re-read my car and rental policies again just to be safe. I'm normally pretty good about reading the fine print when I initially sign up for something, but don't always double check any changes each year. Same goes for health insurance as well. I would expect this sort of thing to only increase going forward. The fed pegging interest rates to near zero has virtually eliminated one of the major revenue sources for insurance companies (safe stable returns on premiums in treasuries and other low risk investments) and seemingly higher risk due to a more erratic climate is increasing the frequency of payouts.
    "Finding out that you have run out of toilet paper is a good example of lack of preparation, buying 10 years worth is silly"
    -DoctorWho
  • samzheresamzhere Banned Posts: 10,923 Senior Member
    I've used State Farm for years for my auto and renter's insurance and never had them slip something on me. They've been just fine.

    Example: I had 2 chargeable auto wrecks, one w. personal injury to another person. I got no rate increase. And for my rental policy, my agent specifically mentioned that I needed to list all my firearms, as I have full replacement coverage.

    Outside of a dog, a book is a man’s best friend. Inside of a dog, it’s too dark to read. - Groucho Marx
  • shootbrownelkshootbrownelk Senior Member Posts: 2,032 Senior Member
    samzhere wrote: »
    I've used State Farm for years for my auto and renter's insurance and never had them slip something on me. They've been just fine.

    Example: I had 2 chargeable auto wrecks, one w. personal injury to another person. I got no rate increase. And for my rental policy, my agent specifically mentioned that I needed to list all my firearms, as I have full replacement coverage.

    Samzhere...full replacement coverage was a bunch more money in addition to the rental poicy...correct?
  • sgtrock21sgtrock21 Senior Member Posts: 1,703 Senior Member
    samzhere wrote: »
    I've used State Farm for years for my auto and renter's insurance and never had them slip something on me. They've been just fine.

    Example: I had 2 chargeable auto wrecks, one w. personal injury to another person. I got no rate increase. And for my rental policy, my agent specifically mentioned that I needed to list all my firearms, as I have full replacement coverage.
    I also have State Farm. They have always paid in full for claims. My firearms are on a seperate policy which is reasonable.
  • CHIRO1989CHIRO1989 Senior Member Posts: 11,128 Senior Member
    NEVER get in bed with Progressive.
    I take no pleasure in the death of the wicked, but rather that they turn away from their ways and live. Eze 33:11
  • jbp-ohiojbp-ohio Senior Member Posts: 9,618 Senior Member
    Gonna call USAA.....
    "The democracy will cease to exist when you take away from those who are willing to work and give to those who would not." Thomas Jefferson
  • timctimc Senior Member Posts: 6,684 Senior Member
    Got State farm too with an umbrella policy added on. They won't cut anything with that because you pretty much have to have the maxes on everything else to add the umbrella.
    timc - formerly known as timc on the last G&A forum and timc on the G&A forum before that and the G&A forum before that.....
    AKA: Former Founding Member
  • sgtrock21sgtrock21 Senior Member Posts: 1,703 Senior Member
    jbp-ohio wrote: »
    Gonna call USAA.....
    About 5 years ago I went the USAA route. Since you had to be military, veteran, or dependant to be eligible I was thinking it would be similar to the original GEICO which was for military and government employees and was a good deal. My USAA renter policy covered $25,000 personal property and cost $15.00 per month paid automatically from my bank account. After 6 months I noticed the charge to my account was $30.00. I was not alarmed as I thought they were now billing every other month. When I was billed $30.00 the next month I called USAA and was informed that $30.00 per month was correct. Went to my State Farm agent for a quote. $37,000 PP coverage at $12.00 per month. I asked the agent if the premiums would increase after 6 months. He replied "only if I wanted to increase coverage". I told him about USAA. He said the huge price increase was typical for USAA. 4 1/2 years later my State Farm premiums are $12.00 per month.
  • bowserbbowserb Member Posts: 277 Member
    This is not an ad for State Farm. I've had SF for auto and homeowner since 1969 and personal items for 20 years (personal items for my wife's inherited ring, her camera gear, and our few guns.). Over that time, I've had car accidents with uninsured drivers--them at fault, of course. My daughter had an accident (she was not hurt) that totaled her car. I've had a house fire and roof damage by hail. And most recently caused a camera bag to slide off a car with $600 damage. I've never felt that I was treated unfairly by SF or their adjusters. In fact, it often seemed to me that they were being generous. In the case of the personal items policy, I asked about what would be covered. "Anything, anytime, anywhere" was the response.

    Over the years, there have been changes (eliminating mold coverage when mold turned out to be more scam than a problem, eliminating car radio coverage when radios were being stolen frequently, increased deductibles for roof damage, and other typical changes that insurance companies do), but I've never had a change that wasn't announced in advance of a renewal. I have in recent years wondered about the bargain companies advertising on TV...but I have not yet been tempted. What I have read here tells me to stick with what I have.


    Sent using Tapatalk...so please excuse the typos!
    "We are fast approaching the stage of the ultimate inversion: the stage where the government is free to do anything it pleases, while the citizens may act only by permission; which is the stage of the darkest periods of human history." - Ayn Rand
  • samzheresamzhere Banned Posts: 10,923 Senior Member
    Samzhere...full replacement coverage was a bunch more money in addition to the rental poicy...correct?

    Full replacement coverage was simply a notch up the ladder in the rate, not a separate policy, and gun coverage was simply a page on the application where you put serial numbers of stuff. My apt is a modest 1-br flat and therefore the basic rates are quite reasonable, since it's not a big place. So I can afford the replacement option. Folks owning a large house, full replacement might be too costly.

    Outside of a dog, a book is a man’s best friend. Inside of a dog, it’s too dark to read. - Groucho Marx
  • samzheresamzhere Banned Posts: 10,923 Senior Member
    CHIRO1989 wrote: »
    NEVER get in bed with Progressive.

    I don't know whether they jerk around their clients but I do know that Progressive is a huge liberal contributor (hence the name) and I try to avoid those businesses.

    I can tell y'all this... State Farm has never welched on me or given me any static in the many years I've had policies with them. When I had 2 chargeable auto claims against my policy within 18 months, all they did was not to cut my rate but also no increase. That was some years back and nowdays I'm paying a low auto rate with several rate reductions.

    I know there are quite a few good insurance companies but when I first took out my State Farm renter policy, my agent specifically told me to be sure to list all my firearms. If she mentioned guns specifically, I was sold. This is, of course, Texas.

    Outside of a dog, a book is a man’s best friend. Inside of a dog, it’s too dark to read. - Groucho Marx
  • CHIRO1989CHIRO1989 Senior Member Posts: 11,128 Senior Member
    samzhere wrote: »
    I don't know whether they jerk around their clients but I do know that Progressive is a huge liberal contributor (hence the name) and I try to avoid those businesses.

    For both of these reasons.
    I take no pleasure in the death of the wicked, but rather that they turn away from their ways and live. Eze 33:11
  • TeachTeach Senior Member Posts: 18,428 Senior Member
    Back when I was involved in the family auto repair business which included a body shop, the rule of thumb when dealing with State Farm was to be prepared for a settlement conference on the courthouse steps just prior to going to trial. They routinely denied every claim, and basically said "Sue us!" That began to change in the mid-1960's. I still have a healthy mistrust of insurance companies in general, and SF in particular. When my brother was in law school, one of his professors put it this way:

    "You can work for two types of clients, criminals or insurance companies. Criminals don't have much money; insurance companies have plenty. With the criminals, you'll get a better class of client, however!"

    :roll:
    Jerry
    Hide and wail in terror, Eloi- - - -We Morlocks are on the hunt!
    ASK-HOLE Someone who asks for advice and always does something opposite
  • samzheresamzhere Banned Posts: 10,923 Senior Member
    I can't speak for pre-60s State Farm, just my experience with them for the past 20 years or so. Of course I'm not a... mmm... paid spokesperson either. But they've been fair with me. And sure, there are plenty other companies that will do the same.

    As far as fighting every claim, that's how Allstate was for ages. Consumer Reports even once rated them "unacceptable".

    Outside of a dog, a book is a man’s best friend. Inside of a dog, it’s too dark to read. - Groucho Marx
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