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Think your insurance will actually pay you ?

Old 09-06-2019, 07:58 AM
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Default Think your insurance will actually pay you ?

After 40+ yrs of paying in I had an unfortunate series of events which required me to actually use my insurance.
First came my handyman who fell off his ladder while opening up hurricane shutters on the second story of my home. I was over insured with umbrella ins. as I have several assets that needed protection. I naively believed that since he had his own VA health ins. that he would be covered in case of an accident . Mediation awarded him $500k + with no real defense on my side. Also, a little known fact is that the cost of hospitalization is taken from his payout, thereby increasing the amount he was suing for. I now am unable to get excess liability ins anywhere.
Hurricane Irma caused extensive damage in my vacation home in 2017, My adjuster came up with a large amount of damage which the ins. company has refused. After all this time I finally had an independent adjuster appointed by the state corroberate my estimate which they still refuse to pay on. Of course I had my attorney file suit, but so far, no money.
My primary residence suffered as well and my adjuster came up with a large amount of damages which another ins. co. refused. My attorney got involved and I received 10% of the amount. I am suing for the rest. After waiting 2 yrs and needing the money for repairs my Mortgage holder whose signature is required to cash the check decided that they could get involved and now institute a litany of requirements before releasing my ins. money. Even though it was approved and paid out from the insurance co., the bank needed detailed documents from my contractor, copies of what the ins. covered , etc. After 9 months of holding my money, and likely getting interest on all the monies or using it in a slush fund, they required an adjuster to come and certify the repair. After which they released a small percentage of the whole until I call him out for the final inspection.
I hired public adjusters from the start, and finally an attorney to file suit.
Old 09-06-2019, 08:43 AM
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Insurance companies = Legalized Corruption!, Legalized Stealing!, Legalized Theft!

Scum of the earth, all of them!!!
Old 09-06-2019, 08:45 AM
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Name of Insurance companies? If they screwed you that bad don't be afraid to point the finger at them by name.
Old 09-06-2019, 08:48 AM
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I had a very very large tree fall through my garage - literally split it in half.

Insurance company paid up right away. I had more trouble with the contractor than I did the insurance company. Wrote the check out to me & the contractor. I refused to sign it until I was happy. They had to put 2 different roof's on the garage before I agreed.
Old 09-06-2019, 08:50 AM
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Originally Posted by spraynet 1 View Post
insurance companiescustomers = legalized corruption!, legalized stealing!, legalized theft!

Scum of the earth, all of them!!!
fify

Old 09-06-2019, 08:57 AM
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show this thread to people when they complain about the cost of impact windows.
Old 09-06-2019, 08:58 AM
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Originally Posted by skindr View Post
After 40+ yrs of paying in I had an unfortunate series of events which required me to actually use my insurance.
First came my handyman who fell off his ladder while opening up hurricane shutters on the second story of my home. I was over insured with umbrella ins. as I have several assets that needed protection. I naively believed that since he had his own VA health ins. that he would be covered in case of an accident . Mediation awarded him $500k + with no real defense on my side. Also, a little known fact is that the cost of hospitalization is taken from his payout, thereby increasing the amount he was suing for. I now am unable to get excess liability ins anywhere.
Hurricane Irma caused extensive damage in my vacation home in 2017, My adjuster came up with a large amount of damage which the ins. company has refused. After all this time I finally had an independent adjuster appointed by the state corroberate my estimate which they still refuse to pay on. Of course I had my attorney file suit, but so far, no money.
My primary residence suffered as well and my adjuster came up with a large amount of damages which another ins. co. refused. My attorney got involved and I received 10% of the amount. I am suing for the rest. After waiting 2 yrs and needing the money for repairs my Mortgage holder whose signature is required to cash the check decided that they could get involved and now institute a litany of requirements before releasing my ins. money. Even though it was approved and paid out from the insurance co., the bank needed detailed documents from my contractor, copies of what the ins. covered , etc. After 9 months of holding my money, and likely getting interest on all the monies or using it in a slush fund, they required an adjuster to come and certify the repair. After which they released a small percentage of the whole until I call him out for the final inspection.
I hired public adjusters from the start, and finally an attorney to file suit.
and through all that who has profited? Insurance companies are run by lawyers.

Pass me the wedge.
Old 09-06-2019, 09:04 AM
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So you allowed an uninsured handyman on your property and it your ins companies fault. We don't know the facts of the other claims so can't really comment. I would think when you pay for service you should allow them the chance to settle the claim. Right away you threw up red flags by getting your own adjuster.

I've been in the business for thirty some years and have seen thousands and thousand of dollars paid to customers. I have probably seen 5 to 10 thousand claim filed and I can only think of two where I thought the insurance co didn't pay everything they should have paid. I quit using that company and learned you get what you pay for.

I can guarantee you after this hurricane passes their will be insureds and contractors ripping off the insurance companies because they can get away with it in big storms like this.
Old 09-06-2019, 09:29 AM
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Sounds like your liability carrier covered you for hiring an uninsured contractor to the tune of 500k. While it may not play out the way you would like it to, they prevented you from being personally liable. Believe me, I don't like the way the court system and lawyers have this industry wrapped up.

I know handling claims is frequently a PITA, however, at the end of the day, most claims I see payout what they should and frequently IMPROVE the insured's situation. There are always exceptions to the case - I hope you get some relief on the home claims.
Old 09-06-2019, 09:39 AM
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If I was the insurance company and you hired an uninsured person to work at your house and stuck me with a $500K claim I would cancel you too.
Old 09-06-2019, 09:41 AM
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I have the same insurance company for forty five years in south florida.Little or no claims.All my cars,RV and umbrella with the same company.Last winter they dropped my homeowners insurance.I paid off my home loan and my FICO score is in the 835 range.When there was a claim about three years ago it was for a shed for around four thousand dollars.The claim before that was for a fire in a 1972 Caddy that was about 2 years old at the time.All in all my thoughts are to change insurance companies or self insure.Some people I know are dropping homeowners insurance or talking about self insuring.

Last edited by tcrane3184@aol.com; 09-06-2019 at 09:57 AM.
Old 09-06-2019, 09:58 AM
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Insurance companies are a scam of the first order and only pay when convenient for them and can cancel you art any time. The increased frequency of natural disasters will leave a lot of formerly insured people, high and dry. Gotta keep that profit margin growing.
Old 09-06-2019, 10:13 AM
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Originally Posted by C3D View Post
fify

Oh hell yeah, that as well! Cmplt trash!
Old 09-06-2019, 10:14 AM
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Still trying to collect from Irma Had to borrow money to put a new roof on my house.

They made the initial inspection on my house after damage, then sent an engineer to look at my roof who said it was just wind driven rain and not damage. 6 leaks in roof and more developing after they inspected. Took pictures, video of rain coming in during a normal rainstorm. They came again to look around after I had the new roof put on and repaired interior damage.

I go for a deposition on Sept 19. Mediation on November 4, and then to court in December if there is no settlement.

Olympus
Old 09-06-2019, 10:24 AM
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Originally Posted by spraynet 1 View Post
Insurance companies = Legalized Corruption!, Legalized Stealing!, Legalized Theft!

Scum of the earth, all of them!!!
Then don't buy it . If you think a any type of business is ripping you off, why write them a check to begin with. It's very simple. No need to get emotional about it.
Old 09-06-2019, 10:50 AM
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State Farm in effect colluded with Liberty Mutual to deny a claim where I was the victim of a hit and run driver.



I was able to get the plate of the girl who hit me, multistate fugitive at the time, since deceased due to heroin overdose.



The damage to my vehicle was on the passenger side, damage to her vehicle was on driver side, yet the statement she gave to Liberty Mutual was very clear in that I hit her on the passenger side with my driver side, no damage to driver side of my vehicle or passenger side of her vehicle.


State Farm refused to provide pictures of her car, which is a violation of Missouri law. They knew I wasn’t going to go to court over a $500 deductible. Funny thing about it was the damage to my vehicle was minor, only some paint, under $1,000.

They lost a 20+ yr customer, stupid.
Old 09-06-2019, 11:04 AM
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I have seen insurance companies do some pretty rotten stuff. I mean really really rotten.

There is no morality involved and It is not about what is right or wrong. They will pay as little as they can get away with and do whatever they can get away with to keep from paying.

They are kinda like dealing with the police or your local govment. Say as little as possible and be really careful about what you do say.
Old 09-06-2019, 11:06 AM
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Originally Posted by Shag View Post
Then don't buy it . If you think a any type of business is ripping you off, why write them a check to begin with. It's very simple. No need to get emotional about it.
The problem there is if you finance a home through a lender you are required to have it, so its not that easy. Its very emotional to those who have damage, don't have the money to fix it, and are refused a claim. Its easy for the wealthy to fight these things but for the little guy not so much...
Old 09-06-2019, 11:17 AM
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After seeing what the insurance company and flood insurance did to my sister last year after hurricane Florence, I almost cancelled my own insurance. They refused to pay hardly any damages to a house that was basically totaled, because they said the previous owner of her house never remediated damage that had occurred 10 years prior to her owning/purchasing the house. FEMA/Flood insurance reimbursed her for only $1500 of damage on her house that was flooded by the Neuse river. It was amazing how both organizations weaseled their way out of paying anything.
Old 09-06-2019, 11:17 AM
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Originally Posted by Shag View Post
Then don't buy it . If you think a any type of business is ripping you off, why write them a check to begin with. It's very simple. No need to get emotional about it.
The law says you have to have it.

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