Posted on 10/26/2021 12:10:13 PM PDT by US Navy Vet
Absent details, here’s the story on SF and other insurance carriers these days:
If you use your policy for 2 claims in a period of 1-3 years, you may be “non-renewed”.
What does that mean? Claims such as theft, etc. also count.
True story (during my brief foray into the industry):
Client had been with SF for 20 years, owned house with property. Made claim one year for wedding ring which was lost while vacationing. Total claim: $1500.
2 years later had a weather event which caused the basement to flood. Total claim: $22,000. Nonrenewal notice (essentially a cancellation, for all intents & purposes) followed.
They then had to shop for insurance with 2 claims on their insurance history within the prior 5 years.
Before they called me, the lowest quote was over $8,000 (their HO was just under $800/year prior).
The lowest I could find them was just under $6,000.
Sidebar: SF agents are forbidden from counseling clients on the consequences of filing claims.
This client was never warned what would happen when filing the 2nd claim.
I’ve spoken/written about this until blue in the face. Most people don’t believe me.
Take it at face value, but my advice to all is this:
If you’re not currently with an independent agent/agency, befriend one NOW so that you have someone to call when the time comes to ask for advice, ‘assuming’ that your current ‘big name’ agent won’t give you an honest answer.
As well, the same was developing for auto insurance as well.
Free advice and I won’t waste my time commenting on it further.
Prayers up!
Every state has a minimum notice period for cancellation or non renewal.
Find out your state’s law and make sure you check acceptable methods(usps or email)
Stay away fr liberty mutual.
They’re one of the very best.
My parents have had them for everything property going back 50 years.
I’ve taken up State Farm as the daughter of very happy customers. Car and house and personal.
We had a bad break with heavy storms that led to bad basement flooding (luckily only 1 room got it…sunken). Well, I should say, where sump pump (same room) died. Last time was due to power being out too long from hurricane outages.
Now, we DID get a warning after latter. Basically rectify the sump pump situation by end of year (this was Labor Day). The early really bad incident we replaced the pump, but this time was just power. So we put in a back-up.
Bottom line, yes, once they called us on it but this was within 2 years. And frankly, our lawn doesn’t even drain well. It looks innocent but is actually pretty poor.
Well, they canceled the White Jake from State Farm...
Prayers for you to find suitable insurance for your needs.
Would really like to know. Nosy. Would help understand if this is underhanded or not.
They cancelled me several years ago for no reason what so ever and said it was hurricane issues (I never made a claim and never had any damage in that house). Then I found out a guy I worked with had State Farm, lived several miles further south than I did and they did not cancel him. I was left scrambling for a while.
Having been in the industry, permit me to share some insight into how to carve through all the advertising BS which is primarily designed to keep existing customers (aside from the obvious attracting new ones):
Insurance is no different than Amazon.
If you want to see what’s really going on, the bad reviews, stories & unhappy customers are much more insightful than believing a commercial or a client who’s never fallen on the bad side of their algorithm (yes, insurance carriers have them, too).
I’ll share one more tidbit:
100% of the responses to my SF story from SF customers are almost word for word like yours.
That’s a tell...
I had a very disappointing experience with State Farm, after decades of paying them for home and car ins. Would never again.
Got the same notice. I’m just going to pay off the note and go without. The insurance is almost as much as my mortgage.
USAA?
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