Home Owners insurance

[TheShiznit]

OK, I have looked into raising deductibles and all the rest - it is pointless in terms of lowering the premiums. As for credit inquiries, I have applied for exactly one line of credit in the past three years - a superior credit card, as stated earlier. Maybe Amfam count one as too many? Or maybe they're just making $hit up to rip me and countless others off?

 

The $250 claim was actually $150 until the Amfam guy told me to claim $250. And why bother writing insurance for spoiled freezer food if it's really, really irritating to them? I have never claimed for household maintenance - it's never crossed my mind.

 

You may well work in the industry but to us out here, the industry is a rapacious money machine that does everything it possibly can to screw it's customers and then weasel out of paying anything when the time comes - see Orleans, New. Consider - there are two of us here making this complaint and neither of us is a credit risk and as far as I am aware, each of us is a very long-standing customer with no history of spurious or doubtful claims - and we pay on time, every time. I'm willing to bet virtually every Amfam customer got this same letter.

 

I am not disagreeing nor am I arguing with you. I was simply gving you the unfiltered version you get from PC agents. Most people will never get more back than they pay in premium....I hope to God you waste your money!!! for your sake.

[Ursa Majoris]

I am not disagreeing nor am I arguing with you. I was simply gving you the unfiltered version you get from PC agents. Most people will never get more back than they pay in premium....I hope to God you waste your money!!! for your sake.

Obviously I hope I never have to receive more than I give. I contend though that past record should count a whole heck of a lot more than credit history - the two things are largely unrelated, whatever they say. How are they to know why I have made credit applications - or not?

[TheShiznit]

Obviously I hope I never have to receive more than I give. I contend though that past record should count a whole heck of a lot more than credit history - the two things are largely unrelated, whatever they say. How are they to know why I have made credit applications - or not?

 

oh, let me reassure you it does. You would have to have crappy credit history for it to affect you rate to drastically. SDIP points on auto insurance and the penalty points on homeowners insurance....the rating for claims....are WAY more expensive than a credit tiering.

[The Holy Roller]

Now tell us how you really feel. My response to the salami scheme thing is to tell people to drop their full coverage on their auto and go to state minimums.....and when they pay off their house drop their homeowners insurance....they look at me like I am crazy...then I tell them quit complaining if they are not willing to do something about it....usually good for a good laugh!!!

 

Too many inquiries on your credit report does count against you. It means you are actively seeking MORE credit in addition to what you have. That can have negative consequences...not right away...but if the trend continues and they rate for that. As far as claims are concerned, let me give you the skinny. Raise you home deductible to 1000 dollars if you can and take care of the small stuff. You will likely save as much in premium in ten years, if not more, than what you spend on damage. Remember, insurance is there for CATASTROPHIC events....no maintenance. So, while you might feel that 250 was a legit claim, it irkes the insurance companies because they feel they are there to pay the 10000 dollar claims and what not. Anyway...just giving you the inside scoop on how they think. Also, raise your collision deductible to 500 on your auto and then lower your comp to 100. Insurance companies will always charge you more for things you can control versus a tree falling on your car. In my state, Comp claims don't even count against you record unless you start becoming Mr./Mrs. wrong place wrong time all the time!!!

 

Anyway...I hope your frustration comes to an end....and let us know how AARP looked in your state versus AMFAM.

 

I did EXACTLY that. F'n insurance companies. If EVERYONE would do it we'd have the bastages BEGGING us for our business instead of them using bogus BS to try and get more money out of us.

 

(By the way, I went 2 years without homeowners insurance and I found out I needed their insurance about as much as I needed a screendoor on my submarine. An agent for another company eventually came to my house and basically BEGGED me to try their insurance. My present policy costs me $444 a year and the rates have not changed in 3 years.)

[Sgt. Ryan]

First, I would talk to my agent, and if he/she can't get you a better rate, then I would start shopping rates.

 

I can understand why insurance companies want to check the credit of their insured. If a person has good credit, then they can pay for minor repairs to the house that do not fall under the policy, but that if left in disrepair might cause damage to the house that does fall under the coverage. A well maintained building is less likely to have a claim on it than a poorly maintained building. It is assumed that if you have good credit, you can afford to maintain the building. If you have poor credit, it is assumed that when your air handler goes out, you may be able to replace it right away, so you will start getting expansion and contraction which could cause major damage that does fall under your homeowners insurance.

 

Perch is exactly right.

 

Like in any business, the squeaky wheel gets the grease. IF the majority of claims or higher claims, come from a segment of poorer credit, than those of better credit, the poorer credit will not get the same rates/discounts as the better credit. Its not a fail proof system, but its over 80% accurate. Most companies start everyone off at a certain rate, and add surcharges, or gives discounts from there. Just because your Insurance went up, doesnt mean you are being surcharged, but instead not givin the higher discount you may have gotten the year before.

 

Many people are down on Insurance Companies, and hearing alot of the stories, I understand why. But alot of this is the blame of your insurance agent. If your agent sat you down, explained the policy in detail, and showed you the value of higher coverage limits, and showed you the protection this added to you and your family, at just pennies more a day, everyone would be more insured, and closer to what they needed. There is no such thing is full coverage insurance. It doesnt exist. Instead many agents are selling straight price, and to get you a lower price to those less informed consumers means, you have to cut somewhere. And those cuts usually end up cutting the amount of coverage or the list or perils you are covered from.

 

For example the majority of the public is insured with liability auto coverages of 25 K /50 K /25 K or their states minimum. The first number is bodily injury to any one person, the 2nd number is the total the policy will pay out in any accident for bodily injury, and the final number is the amount your insurance company will pay for property damage of someone else. With the policy limit of 25K for bodily injury per person, you are putting yourself and your assets other than your home, 1 car and 401 at extreme risk. A Major car accident can cost up to 1 million depending on how severely someone is hurt. No one is going to settle for 25K or 50 K per accident if their loved one is seriously hurt and its your fault, so you will be sued, for everything you have but what I explained above, and when you do start taking out your 401K, a lawsuit can take that then as well. It serious business. And how many cars on the road are over 25K, which is the maximum amount you are protected under the policy limit above. If you are at fault and total a car over 25K, the remaining will come out of your pocket, and how many times are there accidents of more than just 2 cars, if you start an accident that involved 2 others cars, you are at extreme risk with the coverages above.

 

Why do I mention this above. Well I just started an insurance agency in Dallas, and I found out I had the coverage above, and was shocked my former agent didnt ever explain to me what I had, and what risks I was taking on by that policy. I looked at insurance as something I had to have to please the bank or mortgage company, but now Ive learned as anyone else who has been biten by being underinsured knows, my agent did me a diservice by allowing me to buy alot let than I needed, and didnt say anything to me, other than this is considered a full coverage policy, because I bought collision and uninsured motorist. I changed my policy to 250K/500K/100K, and Im still not fully insured, as I said above, there is no such thing. By doing this, my policy actually went down $140 a yr on my auto. Why, because you get more discounts for higher coverage limits, and Im alot more protected for an accident as I would have been.

 

Insurance companies use credit ratings to determine if you can pay for repairs, that prevent major claims. If you have great to good credit, you are more likely to buy new tires when the ones you have now are getting bare, rather than letting them go a lil longer waiting until you can save the money, if you cant get the credit. Same thing with homes, etc. Consider the credit rating to home and auto insurance as your health for life insurance. If you take care of yourself, and are healthy, your life insurance will be alot less, as you are less likely to make a claim. If you are over wieght, smoke, and don't take care of yourself, you are more likely to die of heart disease or natural elements. So you will pay higher rates, if you are more at risk. Insurance comapnies have done research and lower credit ratings, are more risk. Not saying I agree with it, but its the way it is. I dont agree we should have to pay $2.50 + per gallon of gas, but that is just the way it is.

Edited September 8, 2007 by Sgt. Ryan

[Sgt. Ryan]

one more thing, insurance companies are not worried about you paying the monthly or yearly bill. They can drop the insurance if you dont make the payments. They are worried about your house burning down, because there is a short in your wiring, and you cant afford to fix it, and cant get the credit to fix it, so you leave it until you can save the money, then your house burns down in the mean time, and it costs them 150-200K to rebuild it.

[Yukon Cornelius]

Insurance is the biggest scam in the history of scams.

its the second biggest

 

guess the first

[Yukon Cornelius]

I did EXACTLY that. F'n insurance companies. If EVERYONE would do it we'd have the bastages BEGGING us for our business instead of them using bogus BS to try and get more money out of us.

 

(By the way, I went 2 years without homeowners insurance and I found out I needed their insurance about as much as I needed a screendoor on my submarine. An agent for another company eventually came to my house and basically BEGGED me to try their insurance. My present policy costs me $444 a year and the rates have not changed in 3 years.)

yup

 

ive threatened to leave mine twice and some how they always come down in price..... SUPERCALIFRAGILISTICEXPIALIDOCIOUS !!!en thieves.... no wonder its a sin to make money without working ....

[The Holy Roller]

its the second biggest

 

guess the first

 

 

Unlimited sex after you marry'em?

[BillyBalata]

it irkes the insurance companies because they feel they are there to pay the 0 dollar claims

 

fixed

[BLIND HOMER]

its the second biggest

 

guess the first

religion