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 Posted: Wed May 13, 2009 11:18 am Post subject: Deductible nightmare |
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My insurance company just raised my Hurricane deductible from 1% to 5%...on a $280K policy, that is a hell of alot of money...
I live on the coast in MS and have State farm....Does anyone know if or how there is away to combat this?
Switching companies is not an option...I guess this post is more or less a "rant", but I am curious if anyone else has seen this here...
After Katrina, I had $168K in actual damage/loss from flooding...I received a little over $4K from Allstate....I switched to State farm after that, and have not had a claim with them....
Thanks in advance....
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wldfowlr
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| Posted: Wed May 13, 2009 12:43 pm Post subject: |
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First of all........ | Quote: | | After Katrina, I had $168K in actual damage/loss from flooding...I received a little over $4K from Allstate....I switched to State farm after that, and have not had a claim with them.... |
How on earth did that happen?
Rest assured that state farm had to get the approval from your states dept of ins. to do so...chances of you being able to combat this increase in deductible is slim to none...only alternative I can think of is to switch to a carrier that will allow a smaller on if there is one out there...Honestly given your homes locations I'm surprised it's not higher...
Back to the allstate deal what?
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Lori
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| Posted: Wed May 13, 2009 1:26 pm Post subject: |
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| Quote: | | How on earth did that happen? |
| Quote: | | After Katrina, I had $168K in actual damage/loss from flooding |
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tcope
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| Posted: Wed May 13, 2009 3:09 pm Post subject: Deductible |
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Most of my damage was from flooding....we did not have flood insurance because we are 23 feet above sea level...10 feet higher than 100yr plain...so the only thing they paid for was for some of the roof!
I knew the state had to approve it...Thought I would take a shot in the dark that maybe someone hear knew something I did'nt..again, I just wanted an ear to rant to I guess...thanks for the reply...
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wldfowlr
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| Posted: Wed May 13, 2009 10:40 pm Post subject: |
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THANKS!!!! Todd, that slid right past me !! 
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Lori
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| Posted: Thu May 14, 2009 1:22 am Post subject: |
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| You could try to shop your insurance. I recently did this with auto insurance and got a pretty good deal. I shopped around and got three different quotes. I pick the best one and then went to my auto carrier and not only told them but SHOWED them why I was switching. They asked me to give them a chance to do better by me since we were long time customers. Guess what they did ALOT better. The only thing that annoyed me is they had not tried to do better by me until I was going to switch. |
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fireyone
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| Posted: Thu May 14, 2009 5:51 am Post subject: |
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| Quote: | | Most of my damage was from flooding....we did not have flood insurance because we are 23 feet above sea level...10 feet higher than 100yr plain...so the only thing they paid for was for some of the roof! |
Well, often we think that we wouldn't suffer this particular type of loss since the possibility of the incident to occur is slim to none but then it just happen and we are left with the job of cleaning the wreck afterward.
Hope you have the flood coverage now.
Thanks,
Rupert |
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RupertWBradson
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| Posted: Fri May 15, 2009 7:12 am Post subject: |
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| Quote: | | The only thing that annoyed me is they had not tried to do better by me until I was going to switch. |
This is often the reason why people would switch on with another service provider. It's nothing but a simple loss of trust. But there are carriers who'd never let a customer go so easily!
Steven |
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steven
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| Posted: Fri May 15, 2009 9:17 am Post subject: |
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| Quote: | But there are carriers who'd never let a customer go so easily!
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Why would a carrier wish to retain a client who hasn't repaired the damaged part as agreed at the time of claim disbursement?
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guest_frm_hawaii
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