INSURANCE----FACTS----

[TM]

I have read many posts about bad service from a variety of ins. companies. The resposes, in general are O.K., however, many people do not understand insurance. I hope this will help.
FACTS:
1. Insurance companies are in the business to make a profit.
2. All insurance companies make mistakes.
3. Agents can and do help their customers when asked.
4. The MAJORITY of horror stories about being screwed by an ins. co. involve someone trying to get something they do not have comming. In my 28 years in this business, I have seen claims turn honest people into crooks.
5. Fraud costs you and me over $20 BILLION per year. Figure that into the premium you are paying.
6. Reputible companies want to grow. They can not grow if they consistantly treat their customers bad. When someone is dissatisfied, they will tell 8 people. When they are happy, they will tell 1.
7. Bad stories about claims have a tendency to get worse every time the story is passed on.
8. Every state has an insurance commissioner that acts as a consumer advocate for the residents in that state. They also keep records on complaints filed against companies and agents. This info. is available to anyone.
9. The law suite against State Farm in Il. last year is a consumers disaster! The use of "approved, guaranteed" after market parts saved State Farm not millions of $ but BILLIONS. Without after market parts, we would see runaway parts prices from the auto makers. This is well documented. Remember, it is your money (premiums) that pay the claims, and expenses of the companies. When you see fraud, or bad legislation, it is your money, not "The insurance companies."
10. As stated above, insurance companies are in the business to grow and make a profit. No company can grow with profit if they consistantly treat their costomers bad. People need to know that it is their money involved here.
11. Sorry this is so long. I help this makes some people realize it isn't always the companies that are wrong.
12. Please feel free to contact me with any insurance questions.

[Gizmo]

I've found through personal experience that the big name insurance companies are sometimes the least responsive, trickiest and most expensive ones out there. The big companies got big by paying a lower percentage of claims and/or charging higher premiums. You sometimes do not get what you pay for when it comes to insurance.

[mossboss]

Good point TM, I sometimes think that people think that just because that you are 3M, State Farm, Micro Soft or what ever, that the pocket book is endless. These companies did not get where they are today by not having a good product at a competative price and giving crappy service. Every time consumer advocates or legislation steps in mandates a insurance company to cover something or change their policy to increase coverages it is great for the you and I, but insurers now have a peril that was not figured in on the rates and guess what, next time you renewal comes it's a few dollars higher. I am not sticking up for anyone but I feal that it is time that consumers need to change their "stick it to the insurance company attitude". Hey, if it is a covered loss the company has to pay. The insurance commissioner will see to that. If it is not covered, then it is not covered. It is black and white in any insurance contract.

[Chad]

Good Points. Just got done talking with my adjuster. I live in Fargo and lots of people got flooded basements. We had just enough water in the basement to cause some problems. First thing the adjuster had me do is sign a statement that basically stated his being there did not change our policy. He had may poeple who were underinsured or did not have sewer back up coverage and were not covered at all. I would advise everyone to go over their policys and make sure they have the coverage they need. The adjuster said many people had 2500 or 5000 in coverage. Heck, my carpeting estimate was $2500. We had $10,000 coverage and our claim will be about 75% of that.
The adjuster didn't mind talking to us at all. He said he feels bad for the people he goes out to see and finds out they dont have the proper coverage.

[insured?]

I just don't completely agree with you about "after market" parts.Most body shops will tell you they're inferior.If you insure a 2000 model vehicle you'll pay a premium for a 2000; after a few years of insuring this vehicle how much does your premium decrease? Must not have charged enough at first I guess! Yes there is fraud. Health insurance companies are probably cringing after NIGHTLINE did their show about STATE FARM. That reminds me,I better pay my premium for my H.M.O.