by barkless3 » Sat Sep 20, 2008 06:28 pm
Hi. I just went through Hurricane Ike in Houston. My insurance company (Safeco) was quick to respond, but as the adjuster was leaving, he mentioned to me that he shows I have a 2% deductible. I was surprised, so I pulled my policy and it shows a 1% deductible. I contacted Safeco and they said I need to contact my local agent. I did so, and they said that Safeco instructed them to change all policies in that area to 2% and there was nothing they could do. I have a valid policy document that states 1%, and I have always remained current on payment as this is taken out of my mortgage escrow. I believe there is miscommunication between Safeco and the local agent. What kind of recourse can I take to make sure I only pay a 1% deductible?
Posted: Mon Sep 22, 2008 01:56 pm Post Subject:
If it was a company wide change it would've happened at a renewal time, and that change would've been attached to your policy...ask the agent WHEN exactly this change occured...then look thru your policy should've been a letter or endorcement attached to the renewed one, or maybe even just changed the wording in the new (renewed) policy...let us know after you have that information...also the date it renewed.
Posted: Tue Sep 23, 2008 08:01 pm Post Subject:
Lori is right - you should have received something at renewal. If not you may need to be persistent in getting this settled. By persistent I mean you may have to try different levels of the company to get the result you want. Start with the agent, then back to the claims department.
But the company may be able to prove that this was done for all policy holders and that they sent you notification. In that case you are likely stuck with the 2%.
Posted: Mon Sep 29, 2008 08:43 pm Post Subject: SAFECO
I am with Safeco as well. The have jumped my home value to $273,700. My house is only worth MAYBE $150,000. I know that replacement cost is a bit higher than what a house sells for - but there is NO WAY my house would cost that much to rebuild in the case of a total loss. So now, because of their sneaky 2% deductible, there is no chance of me getting the needed repairs on my home. I am definitely changing companies.
Posted: Mon Sep 29, 2008 11:06 pm Post Subject:
Was your house totaled? If so, then 'cha-ching!'
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