HayHauler1

I just got a letter from my insurance company informing me that after the current policy period is over, they will no longer offer coverage for windstorm, hurricane, or hail damage in the county that we live in! We are about 60 miles from the Texas coast, but the county is Brazoria, a coastal county. WTH!!!???

They say that we can obtain coverage for windstorm/hail damage from the Texas Windstorm Insurance Association. It sounds like my premium should go waaaay down, so I can afford this TWIA coverage....

When will we stop getting "taken" by our insurance companies!?

Hay

Equalizer 2

Never, they can take in $100,000,000 in premiums, pay out $500 in claims and then claim a loss when they file for taxes.

woodrat

Never. We are a captive market. Own a house? Gotta buy insurance. Own a car? Gotta buy insurance. Own a business? REALLY gotta buy insurance.

Oh, did you say you need to file a claim? OK, but then you are going to get dropped or rates rasied way up high, and that is AFTER you spend a year or two fighting to get a fair settlement...

can you tell I'm no fan of the insurance industry... ?

spunbearing

We have had alot of recent problems in this area because of a mistake in the new FEMA map which placed many homes in the " flood plain" that are miles away from the previous flood plain maps. Some people were cancelled altogether and others had an increase of $3000 per year on their home insurance. Although FEMA admitted the mistake the insurance companies won't make the corrections on the insurance premiums until the next issue of the flood maps comes out. It's been a big to-do here. Maybe your problem is something similar.

fbx22

insurance agencies should be required to reimburse a portion of what you've paid every year that you dont use it. And if they fail to renew a policy such as in your case you should receive a portion of what you paid into it as well. Since they are considered non profits under the federal law, that should mean that you get it all back except for what it costs to upkeep the account. BUT of course not its a scam with them and the government. When I worked for a police department guess who gave us the money to buy and upgrade our radar to LIDAR? None other than State Farm Insurance!!!! Wonder why!!!!!?

SolarExpress

I live in Alvin.....and have Allstate for two houses and three cars. Not sure I like the direction this is going. I have paid homeowners premiums for over almost 15 years to Allstate. I wonder if I can sue for my past premiums if Allstate is the instigator of our separation since I have never had a claim? I think the coast is a little closer than 60 miles. Dont forget that Chocolate Bayou opens into the Gulf as close as FM 2004. Your probably looking at about 40 miles or less to the Gulf.

CD in NM

I think insurance companies should roll-over 50% of your policy every year when you don't make a claim or have no tickets. Every ticket should equal say a 5% deduction from the roll-over, and a DUI should be equal to doubling your next years policy. If you have an accident that is your fault you should be charged double the next year. If you have an accident that is the other guys fault, his/her insurance should pay your next years's premium. For every clean year of driving and paying premiums to a company after the first 5 years you should get discounts of 5%-10%.

We are all paying for the idiots to be out there driving, and also paying for their mistakes, they should have to pay their own way or get off the road.

As far as the insurance companies not wanting to take the 'risks' for certain areas prone to certain problems, they would quickly NOT be my insurance company. I pay even if I do not get anything in return, what kind of risk is that, throwing away good money every year just 'in case'. We can all blame the weather gurus for what's happening too. Since Katrina happened, they upped the antee for hurricane predictions which upped the antee in insurance costs last year tremendously. No hurricanes last year, so they made big bucks off the backs of those with already great losses the year before.

They are all like ENRON, their higher ups live lavish lives, skimming money off the top. Then when a bad year comes along they can't pay or try to cheat and manipulate you instead of living up to the contract of your policy.

Every state offers the option of purchasing a bond for your insurance. The bond company take the risk. If you are a good driver, no tickets, no accidents, etc you can purchase a bond instead of an insurance policy from a company. It used to be an inside practice of insurance companies to purchase bonds on thier good drivers, they pocketed a ton of money that way. I don't know if that still happens, but I would bet it does.

CD

PourinDiesel

Insurace is like legalized racketeering!!

12valve@heart

Hmm. Sounds interesting. Where do I look to find out more? I'm a big fan of being self-insured.

SoTexRattler

Hay, if you think premiums are high right now for the "windstorm zone" along the coast???...Just wait till we get a big storm that cleans all that development off of Padre Island for example!(Those of you that have driven through Gulfport Miss know what I'm referring to!)
You guys inland will wish you were living WAY inland... Like around Oklahoma!
At least you might be able to get windstorm insurance!

Before the Govt got into the business of providing flood/windstorm insurance , NOBODY built expensive homes on barrier islands that they couldn't absorb the loss of it themselves. It was patently foolish to! Now nobody cares... It's "INSURED" ...
You and I, the "inland dwellers" are now carrying the brunt of that privilege.
Too bad those elite island dwellers don't have to carry the true cost themselves... They simply got the government to draw a very broad line along the coast and make everybody in that "coastal windstorm zone" share in it for them.
Gee thanks...
I didn't buy a house 6-8' above the high tide line on a sandy barrier island, so why should I have to pay for someone else to?
Now the commercial insurance co's are cutting their potential losses and sending folks like Hay, letters dropping their coverage.

By the way,... Last May I drove to P'COLA Fla. and back, and I drove the coastal roads (Gulfport etc)on the return leg. Besides the utter devastation, the other thing that really struck me was the huge number of billboards all over La, Ms, Al to Fla for Law Firms advertising: "Denied insurance Claims? Let us help you sue your insurance company!"
I saw many people still unrebuilt, but isn't this method about like hiring the Fox to round up your lost chickens for you...???

K.

HayHauler1

Well, they are not dropping my policy all together, just not covering for windstorm/hail/hurricanes any longer. What ARE they covering for now, FIRE ONLY I guess....?
This reminds me of the time that State Farm stopped writing "new" auto insurance policies about 5-7 years ago...

Hay

rustbucket

I rate insurance companies,right up there with big oil,the will use any excuse,in the book to raise the price we pay

CD in NM

12valve@heart.

I think you should be able to find out from your State. They should have a bureau regarding insurance itself, if not your Satae Attorney Generals office should be able to advise you. I had a friend who did this years ago, has all his insurance under bonds. He was an attorney so I would imagine he knew the in's and out's better than most. He died a couple years ago, so I just can't call him to ask him, guess I should have taken more interest when he told me about it. My overall insurance costs are umbrella'd together, so they are not as bad as they could be. Plus, I don't live in a high risk area, even though my area does pose high wind and hail problems. I'm sure the insurance industry will get around to evaluating everything and we all will be in the same boat someday, maybe sooner than expected.

CD

IA_James

Allstate is a pack of crooks, the wife had to file a hail claim on her car about 8 years ago, they "lost" any proof of ever having received the check. The money disappeared from our account though.

dssimecek

We are stuck at the whim of the insurance companys. Wife has been 7 years attempting to get state farm to pay on underinsured motorest coverage.
On the good side, I have been grandfathered on SF on gareenteed renuable on auto insurance. They don't do that anymore.