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+--- Thread: Home insurance and deceptive policies (/thread-13239.html)
- Drew - 11-05-2003
Most of you know we took a tree in our house from Hurricane Isabele, $24,100 in damage was the estimate. Our insurance lists Windstorm or hail deductible as 2.00% which we ASSUMED was 2% of the damage...wrong!!! "Refer to your addendum" All mighty adjuster sez, "It's 2% of the amount of your dwelling coverage", which in our case was $300,00 which = $6,000, !@%$&*$!
BIG learning experience and my fault for not studying the policy with a microscope. This is my RANT but a warning for all out there to re-think your coverage and make the necessary changes to protect you! Sorry all and Georgie I'm already standing in my corner. F**k all insurance companies that operate in this deceptive mode. (You have to read the REALLY SMALL print).
Drew
- Georgie - 11-05-2003
That stinks big time, Drew. I have no idea what my homeowners policy says and if I did read it, I probably wouldn't understand it! Tough break, buddy.
- Thomas - 11-05-2003
Drew, that truly sucks. The legal insurance industry, when you look into its mode of operation, is as onerous and slippery as loan sharking. It is a big con, including health insurance--get really sick and see what your policy gets you, I mean sick to near death.
The best part is how government bails the insurance industry out whenever it sustains the losses it is supposed to be in the business of sustaining. And when government bails a business out, we are the ones who pay the bill. In New York we learned the insurance industry lesson the hard way after the World Trade Center tragedy--it is amazing how the industry weasled out of commitments and how they decided to drop many businesses or raise premiums to disastrous levels WITH government acquiesence.
What happened to you sucks, but it is common.
[This message has been edited by foodie (edited 11-05-2003).]
- Innkeeper - 11-06-2003
Any chance you can get some help from FEMA? That area was declared a disaster area wasn't it?
- winoweenie - 11-06-2003
Almost makes me want to pull out the MAJOR 4-Letter words. Sadly, but true, the industry is just about without restraint. Had an accident, not my fault, where the damages were 1500. Amazingly, my premium increase for the next 2 years totaled 1600.
Guess they figured I needed to pay them interest. Sorry as the blazes Drew. WW
- hotwine - 11-06-2003
That's terrible, Drew. Insurance people - peddlers and adjusters - are mutations of the same rootstock as telemarketers and child molesters IMHO. Be sure to save your receipts, though.... last time I looked, your uncompensated losses are still deductible if you itemize on your 1040.
- Thomas - 11-06-2003
Good advice Hotwine, the 1040 I mean--great observation about insurance people, but you give them too much credit...
Yeah Drew, what about FEMA? Does that program work?
- Drew - 11-06-2003
Don't know if it works as never been hit with a disaster before. My sense is that our income is too high but will call the number to inquire and report on the outcome.
Drew
- winedope1 - 11-07-2003
best of luck with it Drew! thinkin' of you!! WD
- ShortWiner - 11-08-2003
Dang, Drew, that sucks! Hope it's the last snag you hit.
- tandkvd - 11-08-2003
Sorry to here of your problems Drew. Hope all starts to get better.
Although dealing with insurance can be worse than the damage to the house.
Two years ago my wife was rearended by an uninsured driver, and this past April a 19 year old with no license pulled out in front of us totaling both cars.