You’re in good hands with Allstate … Bullshit!
Monday, December 18, 2006
Recently we receive a letter from Allstate. In it they say they will not be renewing our home insurance because our home falls into the category of those “most suseptible to significanat wind related damage.”
Now I’m not sure why they would say that. We are about 70 miles from the coast. We have never had a claim on our homeowner’s insurance policy [8 years!]. When I contacted our insurance agent’s office (Ed Dormer in Kindwood, TX) and spoke to Bridgette, she told me it “was nothing personal.”
I asked about our options. She said they could obtain insurance for us through some state-funded plan that was several times more expensive than our current policy. But I would have to first apply to at least one other company and get denied by them.
Oh and yes, I would lose my multi-policy discount with Allstate (I have auto insurance with them as well).
Here is a scan of the letter.
5 comments:
Have you answered any phone surveys or questionnaires/updates for renewals lately? Quote it with other companies before the nonrenewal is effective. Go beyond your agent & talk to the company directly. Ask for proof as to how they came up with this determination. What's the worse they can do, nonrenew you? Reiterate that you have never had a claim, & state that they will be losing both auto & home. Our insurance stuff is different up here due to weather stuff, and I've never heard of wind damage clauses before, but it doesn't hurt to proactively pursue this. Worse case scenario they will still nonrenew you, best case you buy more time to shop for a better policy. I do know that when I got out of the ins. biz the southern load of weather stuff was a huge concern. I'm going to run this by my authentic agent sis in law tomorrow, & see if she has any advice. But you should be calling other agents & the company as well. Now you know why I got out of the insurance world.
Thank you bunches for the advise! I forwarded your words to Gordy too :)
Also, check to see if any of the other houses in your immediate area are having the same problems and what insurance companies they have.
See if there is a pattern here that you can use to your advantage.
Try to find out if Allstate is selecting out particular houses in some kind of discrimatory pattern.
Here in Florida, home owners insurance is becoming quite an issue because of all the hurricane damage in the last few years - my rates have gone up by $154 a year. I am planning to get myself into a financial position so that I can dump them .....
Also, like Cheryl said, see if you can find out what the exact parameters that specifically applied to your house .... and maybe even if there was an actual "inspection".
I don't know if you currently have a mortgage - if you don't and there won't be "big brother bank" making security demands, reconsider what you need insurance for - can you then put $$ aside in an investment account to cover those needs?
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