Loading the slideshow

The slideshow requires script be turned on to function.


Mar 4, 2014 6:58PM

I had a leak on the third floor of my 3 family house that went down to the cellar

destroying a bathroom floor/ceiling dinning room/living just compled hard wood floor

and carpets on the first floor

The insurance company estimated the job to cost $3.200 to replaced same

But only give me $1.200.00 I change them the next day

The packages being offered to home owners does'nt your needs

The government should get more involved .  

Mar 4, 2014 12:41PM
Another important thing to note: Flood insurance coverage and sewer back-up coverage are two separate things, even though sewer back-ups are caused by floods.  Don't assume that just because you have flood insurance, you will be covered when that flood causes all the toilets in your house to turn into poop-water fountains.
Mar 2, 2014 12:51PM
lets face it, a loss is a loss and unless your wealthy and it doesn't matter then it hurts. Most are not prepared for a loss and my cousin is always saying you need a envelope for such loss and put into it every month so you can be better prepared. I think the key is to keep your head about you, try to have a preplanned plan of what would you do if you had a emergency just like a drill we used to do in school. God willing you never experience a emergency but if you do you have to know what you will do. Of course you really never know what you will do in a emergency but if you can just think of different types of emergencies and what "IF" it may help to figure it out. But we all know things happen when you least expect it and are not financially prepared for it to happen.
Mar 2, 2014 10:48AM
I once had a kitchen fire with a lot of smoke damage. While never really being concerned about it at the time of issuance, my policy only covered a depreciated value for personal property lost. If you don't want to take the personal property depreciation hit, be willing to pay a higher premium for actually cost of replacement.
Mar 2, 2014 9:57AM

OK I have listen or actually read the comments posted so far on this topic. And it is a very good topic if you are willing to look at all side of this ever growing problem of Insurance and rate(s) associated with them. So in a nut shell I will try to cover a few of the basics everyone should take into consideration when lashing out at the insurance companies as a whole.

If you have not figured this out yes I am an insurance agent that owns and operates a very successful agency. The main reason insurance rates go up is because of false and fraudulent claims that are filed each and every year. I pay the same rates as someone who does not sell insurance. So here me out as I go on.

I have seen many false claims and have even witnessed a few in the making (staged accidents) just so they (the crook, the insurance fraud filers) can try and get a quick chunk of cash for lying cheating and stealing. If everyone who sees or knows someone committing a fraudulent claim; turned them in for fraud our rates would decrease dramatically as a whole around the world. The next reason is the people that don’t carry insurance, People we are paying for them to drive around without insurance crashing into the people that are responsible enough to carry insurance. If everyone turned the non-insurance carriers in this would also curve the impact on our rates we pay today.

The other problem is the people driving around without a driver’s license…Really if you are helping someone who can’t have a license or a car registered in their names and provide them a way to drive. Really see the problem there? Now they are having accidents; who do you think pays for that? WE DO through our rates. So if you really want rates to go down help combat against these problems.

 Otherwise the insurance companies will pass the buck onto us to fund the coverages needed to protect everyone as a whole. Now I could go on for hours pointing out why rates are the way they are. But for now I think you get the picture. I don’t like my rates either and it pisses me off when Non-licensed and Non-insured’s are on our roads causing damage and killing the innocent. I lost some to that very same incident / scenario. It is a major problem.

I became an agent to help others I am sorry for the way rates are but now you have another angle to look at when it comes to insurance rates. You want them to go down? Then turn in the real problems and the real reason our rates are so damn high into the local law enforcement centers. If you do know someone that screws the system and is out there with no license and no insurance and you do nothing about it. Then stop complaining and move on.  Same problem on the home insurance side it effects the rates there as well.


Mar 2, 2014 9:19AM
Check out homeowners hand book, check out Explosion.....forgetaboutit!!!
Mar 2, 2014 9:19AM
One last thing, most of the mortgages were backed by insurance companies. Does that tell you anything about how our money is spent.
Mar 2, 2014 9:12AM

It amazes me how many people do not read their insurance policies. Home, car, or umbrella policies. I always "shop" around, choose my deductibles and read the entire contract. Another thing I did was to take pictures of every room with close ups of anything expensive to replace. Update after any remodel or replacements. Then take some from the outside. Transfer to a CD or flash drive and place in a fireproof safe.

I have a replacement value policy which adjusts each year to inflation. It goes up a few dollars each year but is worth it to me for the piece of mind. I believe in pay a little now or a lot later. A good example is the Yarnell fire in Arizona last year. Numerous home owners chose not to have insurance then cried poor mouth when they lost everything. Some were summer homes so not important enough to insure. The point is we all have to take personal responsibility for our choices.

One thing to watch for is their "amendments", generally sent out with a renewal notice. Always read them carefully. Don't wait for something to happen. Know before hand.

Mar 2, 2014 9:12AM
A few years ago, we had a house fire. We had no idea what had happened only that everything we owned was either destroyed or gone. We could not explain what had happened since we were not home when it occurred so the insurance company hired a attorney and made us go through a deposition. Because of the housing market, they ( our insurance company) wanted to say we tried to destroy our own home. So not true. Like most Americans., we were struggling to make ends meet but we did the best we could. The bank was lying to us about a modification but we were dealing with it. We hired a attorney who tried to help us through the maze but the bank was so massive he was almost powerless also to work out a reduction in our pay off. We did finally get enough money to pay our house off. We figured if we could pay off the house we could worry about repairs later but at least we wouldn't lose our equity. It took us two years before we finally finished with the insurance company. They left us out in the street, they wouldn't give us money to find a house while our house was being redone. There was additional cost to live out of our house such as laundry, food, replace our clothing ect. I called the state insurance commissioner, he said we had to buy the things and submit the receipts. Things I asked my mom to buy for me so we didn't have to do without would not be reimbursed.  It took us several years to accumulate what we had and we had 24 months to replace everything. It was craziness. So lets just look at what you walk into when you come home at night from work. Every single thing you own has some value. Proving that value may be difficult since the insurance company will reduce the value from what it cost to replace things to what you pay in todays market to buy it. Even if you submit a estimate to replace your furniture, they will not accept that. In our own case the furniture alone was an estimated $30K not a ton of money but what we needed to get back to even. And what's more, insurance companies have a scoring system on you. It is much like a credit rating. they can pull up every claim you have ever made and this scoring system rates you. Most people don't file a claim unless they really need to but when you do, you may find that your left speechless and out in the cold. Looking back, I wished I had bought a travel trailer while our house was being put back together because we wouldn't be in the house with the fumes and damages which are unhealthy. For a while we slept in our garage so we could protect our house from any vandals. We hired a cleaning company to come in but they were so overwhelmed and useless that they gave our money back to us. It is now the anniversary of the 3rd year and we are still working on getting the kitchen functional. When you try to replace your kitchen cabinets, beware of the type of cabinets you get. We aren't really happy with what we bought through Lowes but we have them and they were installed by us but the quality wasn't what I would have hoped. The cabinets we had before the fire was better built. You may be better off to have a cabinet maker do them but again, watch out and be sure that the person is a licensed contractor. We lost a total of $5k because we were taken by a carpet company and someone who we through was a family friend who had been licensed to do work for us and then bugged out. The owner of the carpet company we took to court and we still haven't received our  money yet. Total Nightmare. Beware of a thing called Public insurance Adjustors. They are not your insurance company and are out to take what they can from you. Do not sign anything and if you feel you cant handle things hire an attorney, but he wont be free. Just know that. But at least he is working for you instead of against you.
Mar 2, 2014 9:02AM
one is wise to fully understand exactly "what" and "what is not" covered in their respective policies, and to add additional coverage's, if needed, by your specific circumstances/locations.  Then when disaster strikes there are no surprises....    
Mar 2, 2014 8:43AM

I like how it says "may" not cover.

Insurance companies will always try to deny a claim and protect their reserve.  In litigation, they always pay.

Shame, that after paying premiums their whole lives, the one time they need insurance companies to step up it has to be thru the court system.

Mar 2, 2014 8:32AM
Just ask anyone who has been dealing with the Insurance companies after Sandy and see what they say. I am someone who was thru Sandy and my neighborhood is still coming down.  My experience and observation of the insurance companies only points to the fact, our government is more concerned with helping the insurance companies than with us.  
The insurance industry is a necessary evil and it knows it. Why do you think rates keep going up and coverage keeps going down?
Mar 2, 2014 8:15AM

The corrupt Republican INSURANCE corporate MONARCHY has STOLEN BILLIONS & BILLIONS of dollars from the AMerican People over the years! NOTHING SURPRISES ME when it comes to the OUT OF CONTROL CORRUPT Republican corrupt MONARCHY! They have STOLEN SO MUCH from the AMERICAN PEOPLE that it FEELS NORMAL TO THEM !!

Never a day goes by that there is NOT SOME of their BLATANT CRIMINAL CORRUPTION showing up in the news and even when it does, the "bought & paid for" news media SLANTS THE TRUTH OR OUTRIGHTLY LIES TO US!!!

Mar 2, 2014 6:29AM

I am an insurance adjuster for a large insurance company. Here's a news flash. . . it costs MONEY to own a home and to maintain it. Insurance is not there to maintain your home. Insurance is great to have because when you need it, it will help. Many people I deal with do not realize that things like wear and tear are not covered. If you don't want to maintain a home, then don't buy one!

Mar 2, 2014 4:35AM
yeah insurance only covers the stuff the insurance company will never have to pay for because they are crooks. 
Mar 2, 2014 4:34AM
Insurance companies are a scam.  I pay thousands and thousands every year in premiums and, when you have a claim, they won't cover it.  Plus, the deductibles are ridiculous.  Think I'm wrong?  How much do you think TV commercials cost?  And how many times do you see State Farm, Geico, Farmers, and Allstate commercials every day?  Think about it.
Please help us to maintain a healthy and vibrant community by reporting any illegal or inappropriate behavior. If you believe a message violates theCode of Conductplease use this form to notify the moderators. They will investigate your report and take appropriate action. If necessary, they report all illegal activity to the proper authorities.
100 character limit
Are you sure you want to delete this comment?


video on msn real estate

from our partners