Non renewal

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PostPosted: Wed Feb 11, 2009 2:09 pm   Post subject: Non renewal  

My insurance company sent a letter for non renewal of my policy.



Our area was hit by a major hail storm. It damaged our roof, siding and some windows. We did not dispute any of what they would pay for and not pay for.



My agent understands we have been long term customers. We have owned several properties and vehicles and have been loyal to this company.



Underwriting says we have not owned our current residence long enough and has sent a letter of nonrenewal.



My agent spoke with underwriting then underwriting suggested they would renew if I would agree to a $10,000 deductible.



Is this possible? Our area was claimed a natural disaster and this was out of my controll.

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PostPosted: Wed Feb 11, 2009 5:26 pm   Post subject:   

Kinda makes you feel all warm and fuzzy inside knowing they really care doesn't it. You don't have to name the company but let us know the advertising slogans they use to make you feel they really care at corporate.



We had similar situation in tornado alley in sw missouri, se kansas, and ne oklahoma. If you had a claim within the past three years, insurers didn't want your business even if it were acts of nature. Doesn't make sense to drop a homeowners coverage due to acts of nature and occurences beyond your control. They want you during the good times but when you become a risk or potential risk they dump you.



Many insurers are in the hotseat now for their actions in Florida. They want to sell auto insurance but not homeowners because of the risk. The state says hate to tell you this, but if you want to sell auto, you have to sell homeowners and if not, don't let the screen door hit your keyster on the way out of the state.



They should have saved some of those enormous corporate profits over the last ten years even after catastrophes were considered to put back for a rainey day, but they are in a cut throat business trying to satisfy their shareholders and investors.



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PostPosted: Wed Feb 11, 2009 5:52 pm   Post subject:   

Well thats just ignorant on the insurance companies fault. Those people were through enough. Probaly the only way to keep people getting home owners insurance in Florida is if the state did make them carry both auto and home owners.

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PostPosted: Wed Feb 11, 2009 6:29 pm   Post subject:   

This topic has been brought up before. OP and Mike, you have very valid points and I agree 100% that a carrier should stand behind their insureds but there is one factor that overrides any argument... a company should be able to control it's business. Mike, if I walk into your body shop and ask you to make some frankenstein repairs to my vehicle, should you have the option to say no? Or should you be required to make those repairs? But I agree that an insurance company needs to be regulated as without insurance commerce is not possible, should they be required to take on a risk when they are pretty sure it's going to cost them money? Keep in mind, they cannot charge any price their want for the policy, this is regulated by the state. So if they feel the risk is higher then they can charge, should they be required to write the policy?



Also, in most cases when an insurance company does not renew a policy they are walking away from any chance to recover what was spend on the recent claim. For me, this is a good indication that they feel that they really cannot make back that money.



But with that being said, there has been some indication that insurance companies are lining their pockets and using high risk as an excuses for higher premiums.

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PostPosted: Wed Feb 11, 2009 7:01 pm   Post subject:   

Quote:
Mike, if I walk into your body shop and ask you to make some frankenstein repairs to my vehicle, should you have the option to say no? Or should you be required to make those repairs?




The choice to turn down a frankenstein repair would be a moral and ethical one to protect other motorists, and myself from liability. The insurers choice to only offer protection is based on profit motivation.



People are required by contract and sometimes statutes to possess insurance on property. No one can be forced to have their car repaired. Insurers have a captured market that is regulated by oversight and in many cases by the fox guarding the henhouse.



It would be nice to have at least some comfort in knowing than when a consumer chooses an insurer based on those slogans (they will always be there on your side, get you back to where you belong, like a good neighbor, in good hands, and all the others), that they really didn't mean we want to be there until the going gets rough and you had to file a claim. When that happens we'll treat you like a red headed stepchild.



Maybe like some auto policies, homeowners insurers could offer ten year or lifetime policies tied to cost of living indexes pro-rated based on claims experiences. Then homeowners might really have piece of mind.



I really do not have an intense dislike of the business of insurance, it's graft and greed that permeates the decisions that some base their actions on that bother me. I have no problems with insurers making reasonable profits, I just wish they would allow my industry the same consideration.


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PostPosted: Thu Feb 12, 2009 1:58 am   Post subject:   

I see your point tcope. There is a certain amount of taking the bad with the good that most of us in business have to contend with. Publicly traded insurers with an unending supply of data are the driving force behind these types of "hardball" moves IMO. Looking back, do you recall noticing significant changes in how the business of insurance is conducted... and if so... how long ago?

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PostPosted: Thu Feb 12, 2009 2:23 am   Post subject:   

Quote:
Looking back, do you recall noticing significant changes in how the business of insurance is conducted
.yep..
Quote:
and if so... how long ago?
1st wave about 1995ish (but that was a good one), next one about 2002, latest and worst one began about a year ago..


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PostPosted: Thu Feb 12, 2009 4:30 am   Post subject:   

95ish was a good one? Shocked How so?

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PostPosted: Mon Feb 16, 2009 2:51 pm   Post subject:   

Only 'good' thing I mean was ins was in a 'boom' period then.that i think (guessing from the profit sharing i got) started tanking about 02.and durning the 'boom' there still seemed to be quite alot of atomity for adjusters kind of a 'pay em all'' theory (In my area/company anyway). On the whole I don't mean 'good' more huge changes'' by 95 all there were three or so estimatic systems...most if not all shops were also no longer flat writting.



Huge changes came when the modil, lap tops came, and the adp sheets went away..



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PostPosted: Tue Feb 17, 2009 3:31 pm   Post subject:   

Back then I was using the Mitchell books with the bar codes and the light pen. Very Happy Do they still have profit sharing? I was getting some decent dividend checks from my carrier for a while, not much the last few years. It sounds like there is some more belt tightening going on with some carriers, I am hearing some grumbling about some 401k changes from some field appraisers.


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PostPosted: Tue Feb 17, 2009 3:33 pm   Post subject:   

Woops, forgot to log in. Very Happy

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PostPosted: Wed Feb 18, 2009 4:26 pm   Post subject:   

Quote:
Do they still have profit sharing? I was getting some decent dividend checks from my carrier for a while, not much the last few years. It sounds like there is some more belt tightening going on with some carriers, I am hearing some grumbling about some 401k changes from some field appraisers.
yeah, there's a lot of changes boy...and i think everyone's in a hiring freeze, raises nearly non-exsistant, but work three times as much...we all know the song.. Rolling Eyes



Oh Dave, how I do not miss using the crash books! Shocked first computerized system i used was audatex, and they had a 'sheet' on each make/model...good night nurse, what a mess that was!


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PostPosted: Wed Feb 18, 2009 6:25 pm   Post subject:   

It seems like the new standard for field appraisers is a 10hr day. I hate to say it, but I think we may be starting to see some "burn out" even in some of the most balanced.



Everything okay with the ticker?

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PostPosted: Wed Feb 18, 2009 6:51 pm   Post subject:   

Quote:
It seems like the new standard for field appraisers is a 10hr day. I hate to say it, but I think we may be starting to see some "burn out" even in some of the most balanced.
You mean the standard hasn't always been ten hours a day? I've been getting jipped! Wink Yes, a lot of burn out...but in this economic mess. then add in age, just can't really let yourself 'think' about starting over somewhere else at this point...I just keep telling myself...11 more years, 11 more years...haha, if the next 11 go have as fast as the previous four (plus)...won't be too bad. seems that most of the bigger corps too have taken the open position of, 'well tough crap, there's the door, there's only about a million people that'd love to have your job'...unfortunately they're right.....you and I have seen the cycle many many times...i figure next boom, ought to hit (hopefully) a couple of years before I retire atleast...fortunately for me 'worlds greatest husband' saw trouble on the horizon and pulled us out of the market in march 08...so that saved us...we're too dag gum old to make up for the kind of losses we'd have incurred if he hadn't ... we ain't making much but we also ain't losin' a dime... Wink



Quote:
Everything okay with the ticker?
yep they fixed me up got to come home friday...then next day got sick, (102 temp the works!)...i'm sure i caught some damn bug in the hosptial every nurse i came into contact with was sniffin' or sneezin' finally feeling half way human today...plan to go back to work monday...(yip-pee), trying real hard to develope a better 'balance'...with work...and gonna' have to give up these cigarettes soon too...(yes, i've got a plan "smoke haters" Rolling EyesWink and NO my heart trouble has zero to do with cigs...frankly think that kinda ticked my cardiologist off alittle to have to tell me that! Laughing ) I've been seeing more changes in the claims/physical damage area of insurance in the past 12 months or so than i've seen in twenty years....gonna be bumpy for awhile i think.



(ps thanks for asking dave)


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PostPosted: Wed Feb 18, 2009 7:53 pm   Post subject:   

I don't believe for one second that they can run off their experienced adjusters and hit the ground running, and I know that they know. LOL there is nothing like supervisors getting "reamed" ten times a day for things that you know are bs. IMO that's just how the corporate game is played. They say the same things to us, and there really are too many collision shops. Btw there was a little of a void here while you were gone. Others tried to step in and help, but it's not easy.



Sorry to hear about the flu, but it's great to hear that you are on the mend. My wife had some surgeries a while back and I think its really important not to push yourself too hard too fast.



The greatest husband in the world is smart! Waaay too many people lost their savings to the guys in the Armani suits. I had an old friend stop by the shop last week, and we talked a little about this stuff. She said her 87 year old dad got a funny feeling last spring and pulled all of his money out. She told him then that he was crazy and gave him a hard time about the penalties.

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