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Allstate won't pay Katrina flood claims
MarketWatch ^
| Sept. 20, 2005
| Alistair Barr
Posted on 09/21/2005 10:01:23 AM PDT by george76
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To: Owl_Eagle
Either way, EVERYONE'S premiums are going up.
Beat the crowd -- grab your ankles now!
101
posted on
09/21/2005 10:32:19 AM PDT
by
Malacoda
(*~*~*~*~*~*~*~*~*~*~*~*~* ! *~*~*~*~*~*~*~*~*~*~*~*~*)
To: george76
I just finished payin a $917.00 bill for Flood Insurance. I've had the policy since 1978. I've never had a claim. But I'm in a flood zone, so I have the insurance. I also have a homeowner's policy. I don't really mind having two policies. I'm fortunate to be able to afford them. That said, I must be out of my mind to be paying that kind of money when I could just sue my homeowner's company! What the #ell was I thinking? Bottom line - homeowner's insurance doesn't cover flood damage. Never has. Live with it.
To: george76
Allstate wouldn't cover the property damage I suffered due to last year's mountain flooding here in California. I didn't have flood insurance. It cost me $20k.
My bad.
103
posted on
09/21/2005 10:33:22 AM PDT
by
socal_parrot
(Does this tagline make me look fat?)
To: Ben Mugged
"And if I was a stockholder in one of those companies I would ensure the CEO got canned..... Of course and isn't it amazing how clueless people are when it comes to a publically held corporations legal responsibilities to it's shareholders?
To: dmz
Any water damage is considered flood damage.
105
posted on
09/21/2005 10:34:08 AM PDT
by
sharktrager
(http://hookedonphoniks.blogspot.com)
To: Texas Eagle
Do you remember Jim Craig?....I don't know what happened to him. I think he may have finally had a meltdown. Yup,I remember him.What a foul %%*&^ he was.At least Gillis was reasonably polite if not completely in Karl Marx's camp.
To: Cobra64
no so. I think part of the issue is not the flood but the fact that insurance companies are trying to say ALL H20 damage is "flood".
Apparently Miss. law has a nuance which would require coverage. Thus when the companies entered Miss. they were on notice for the legal requiremnts.
This happens all the time with national companies which fail to account for state by state legal differences in law.
The lawyers will make out.
(in a related situation, retirees run into this when they retire and die in one state but have a will written under the laws of another state. The nuances can be very important.)
To: Owl_Eagle
In states like Illinois, you can't get a mortgage without flood insurance if you're living in a designated flood zone. I think New Orleans would have qualified as a "flood zone" if the state actually used a watt of brain power and made it mandatory. I don't see how Allstate should pay for what it explicitly does not agree to cover.
This sounds like a job for the Extortinator:
To: dfwgator
"Yeah but at least they don't employ homophobes. /sarcasm"
Lisp when you say that, boy!
;o)
109
posted on
09/21/2005 10:35:20 AM PDT
by
LIConFem
(A fronte praecipitium, a tergo lupi.)
To: george76
I assume that all homes that still have mortgages on them have banks that require adequate insurance. It's often the people who've paid off their home who underinsure.
110
posted on
09/21/2005 10:36:55 AM PDT
by
Katya
(Homo Nosce Te Ipsum)
To: Gay State Conservative
Well, it's nice to hear from you again. Good job on remembering the origin of my nick. You probably remember Fred Houlihan. He goes by StopGlobalWhining on FR.
111
posted on
09/21/2005 10:36:58 AM PDT
by
Texas Eagle
(If it wasn't for double-standards, Liberals would have no standards at all.)
To: sharktrager
"Any water damage is considered flood damage."
Not exactly. If a pipe breaks insid your house, that should be covered. If the wind blows the roof off your house and the rain gets in, that may be covered. If the creek rised to your 2nd floor, that's not covered.
To: sharktrager
Any water damage is considered flood damage.I don't think that's universally true.In a case where your water pipes burst/leak,as can sometimes happen in bitterly cold weather,the damage caused by the water is covered.
To: ladtx
Allstates competitors should jump at this and say they will cover ALL claims flood or wind. They would soon have all of Allstates customers. No, they'd all go bankrupt and Allstate would be the only company left. I'm an Allstate customer; I'll stay with Allstate.
To: NonValueAdded
"Your mention of being under-insured due to appreciation is the next shoe to drop, I'll bet. That will be a rude awakening for many."
Yeah, I just recently fixed all that in May (right before hurricane season). I'm ready for anything. I'm telling you the people who want to save a few hundred dollars on insurance are going to be in heap of trouble if they try and rebuild with insufficient coverage. BIG time!
115
posted on
09/21/2005 10:38:24 AM PDT
by
poobear
(Imagine a world of liberal silence.)
To: george76
My father always said, "Your in good hands with Allstate, until you try to collect on your policy".
To: Herakles
Natural Disaster Surcharge = "National Stupidity Surcharge" for citizens in other states who purposely chose to live in areas not affected by these natural disasters be required to support the foolish whims and desires of others who want to live in a beautiful place that has natural dangers that reoccur.
117
posted on
09/21/2005 10:40:33 AM PDT
by
RSmithOpt
(Liberalism: Highway to Hell)
To: george76
I would bet that Allstate Insurance company at one time had something to do with insuring slaves. Now they do not want to pay up to people who were uninsured or under-insured. How long will it be before the Congressional Black Caucus, Je$$ie, Al $harpton and the other race-baiters get involved and calls Allstate a racist group who should then be forced to hire a friend of Je$$ie to give all the execs at Allstate a sensitivity course for about $300,000 a session?
118
posted on
09/21/2005 10:41:24 AM PDT
by
hophead
(" Enjoy Every Sandwich" WZ)
To: NavyCanDo
I can imagine it being like the insurance company in "The Incredibles."
To: hophead
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