Ever been duped by insurance companies?

Bretrick

Bretrick

Well-known Member
Location
Perth Western Australia
Laying in bed last night I was thinking about how often we read about insurance companies not doing the right thing by their customers.
A few years ago I had a car crash which saw my vehicle totaled.
Surprise, the insurers agreed to pay $13500 on my written off Toyota Rav4. I paid $14000 plus add ons.
They also agreed to pay the residual still owing. About $4000.
So though I needed to buy another car, I had no debt hanging over my head.
Do you have any good or bad Insurance stories?
 

I can't remember ever making a claim so I have no idea how much it would have covered or if that would have been sufficient. I only know that the rates keep going up. Like this year, my homeowner's insurance went up 39.5%. Of course I didn't renew with them. I've found that with both auto and home insurance in the last 10 years or so, I've had to switch providers to get a decent rate. That decent rate typically lasts for a year or two before I have to switch providers again to get a better rate. Some companies have admitted to me that they intentionally give lower rates to new customers and then jack them up to make up the difference when the customer renews coverage.
 
I made a homeowner claim 30 yrs ago. They paid for new AC heat pump when my guy said it was struck by lightning. They cchkd my city that day and it had rained. But now insurance companies are crushing us in Fla. My homeowners is now tripled on my small 90 yr old wood frame house. UP to 3600.00 a year now. We have to subsidize those that live near the ocean. It is insane. My health insurance was awful until I used the market place for my family which I still use for my kids (im on medicare)
 

After an accident where a teenager was at fault & totaled my pick up truck, I fired my insurance company of 37 years because they wouldn't pay medical bills. After hiring a lawyer to get everything paid & settled, I sent them their notice. We have nothing left with them at all. Then for the next few years on the anniversary date that I let them go, they kept calling wanting me back. Yea, right!

My attorney said to find an insurance company that doesn't have mascots, jingles, actors or commercials. I looked into the one he recommended & we have been pleased with their service. We have more coverage for less money than I was paying the other one.
 
For all their tales of woe, insurance companies always seem to have nice buildings in prime locations.

Our rates are going up because of the wildfires and floods over the past few years. They’re fast to raise rates and slow to rebuild after a disaster.
 
VisualBrian said:
I can't remember ever making a claim so I have no idea how much it would have covered or if that would have been sufficient. I only know that the rates keep going up. Like this year, my homeowner's insurance went up 39.5%. Of course I didn't renew with them. I've found that with both auto and home insurance in the last 10 years or so, I've had to switch providers to get a decent rate. That decent rate typically lasts for a year or two before I have to switch providers again to get a better rate. Some companies have admitted to me that they intentionally give lower rates to new customers and then jack them up to make up the difference when the customer renews coverage.
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Same with me. My car insurance mob raised my premium 31% - $280.
Needless to say, I went elsewhere.
 
The only instance I can think of was many years ago when I first got insurance. It was from some unknown company. Anyways they went broke and never gave me a refund. I learned my lesson. Now I've had Allstate for a long time and I never had any problems with them.
 
I guess I should admit that in a previous life, I was a licensed life insurance agent. People buy "cheap" insurance, then complain because those policies don't deliver much. Most want to pay $1.58 and expect to get $30,000 in an accident.
Also, I don't think most have a good idea of the huge rise in car repair costs. Three years ago, I got rear ended, my bumper was cracked and had a hole. They don't repair bumpers anymore. estimated = $3,-4,000.
 
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I had roof damage due to high winds, blew a couple sections of shingles off. I repaired it myself but figured it was time for a new roof so had a local company give me an estimate. The roofing company suggested I contact my insurance company and much to my surprise insurance covered the cost. When the insurance adjuster came for the inspsection she also looked at my barn roof, even though there was no wind damage she said some of the shingles were loose so they replaced that roof as well.

I was surprised and happy.
 
C50 said:
I had roof damage due to high winds, blew a couple sections of shingles off. I repaired it myself but figured it was time for a new roof so had a local company give me an estimate. The roofing company suggested I contact my insurance company and much to my surprise insurance covered the cost. When the insurance adjuster came for the inspsection she also looked at my barn roof, even though there was no wind damage she said some of the shingles were loose so they replaced that roof as well.

I was surprised and happy.
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That is what is known as a good news story. :)
 
C50 said:
I had roof damage due to high winds, blew a couple sections of shingles off. I repaired it myself but figured it was time for a new roof so had a local company give me an estimate. The roofing company suggested I contact my insurance company and much to my surprise insurance covered the cost. When the insurance adjuster came for the inspsection she also looked at my barn roof, even though there was no wind damage she said some of the shingles were loose so they replaced that roof as well.

I was surprised and happy.
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Wait until renewal time, we had roof damage from a storm, and insurance covered it when we got our renewal our deductible went up and so did the cost of our policy.
 
TheOtherRick said:
Wait until renewal time, we had roof damage from a storm, and insurance covered it when we got our renewal our deductible went up and so did the cost of our policy.
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I anticipated that so switched companies when my policy was ready to renew, I did it before they billed me so don't even know what the increase would have been.

Other than a car/deer accident when I was young that's the only claim I ever made. I think after paying premiums all my life the insurance carries are winning.
 
Forgot. Back in 2018, I was in the hospital. There was a cold spell, temps well below freezing. The furnace died, and pipes froze. The toilet shattered, and one of the faucets sprung a leak and spayed mist into the air. When I got back home, there was a foot of ice flowing out of the BR, down the hall into the living room and bedroom. $15,000 to repair . The ServePro people did the clean up work- great, and insurance paid for most of it.
The contractor......... well, I didn't murder him. Really thought about it, though.
 

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