No, there is a huge difference in the independent agent companies and the captive agent companies.Percent deductibles for homeowners insurance are pretty common now. All insurance companies are in it to make money, and with the insane expenses they have to cover, they've all tightened down a lot of things in the last few years. This is in no way unique to State Farm. All insurance companies will screw you over if they get a chance. Everyone either "loves" their insurance company because they paid their claim that one time or "hates" them because they ran into an issue. But it's such a small sample size to make that determination. They are all basically the same. State Farm is reputable and reliable as far as insurance companies go (which isn't very far.)
It's not just the insurance industry.The risk on the more expensive house is much higher. The claims may be the same here, but how many windows are there in a larger, more expensive house with, usually, more expensive components and finishes. More obviously, what is the risk when a $200k house burns down versus a $500k house? This goes for deductibles as well. As I stated above, a more expensive house generally has more expensive losses. In a given case, perhaps not, but they have to set premiums and determine deductible based upon anticipated risk, not after-the-fact knowing what the claim was.
In any event, when policies allow the deductible to be chosen, a higher deductible results in a lower premium. How do you know that with the $500k house in this scenario, the premium would not be higher if the deductible is lower, at the same level as a $200k house?
...but like I said before, what is fair? An insurance policy is a contract. It's all in the contract/policy. They cannot change the terms without notice.
If you are talking about a public adjuster, there was an outfit that came in to my town a few years ago after a big hailstorm. they went door to door getting people signed to contracts and then screwed most of them. They got sued a couple of times And lost. Made the front page of the paper.If you have a significant claim I have two words you should use with any insurance company…..
Independent adjuster
Your policy and the law provide for it.. Do it.
Yep. Public adjuster. As with any kind of service business there are con artists. They should be licensed and carry e&o insurance. Just as you probably wouldn’t sign a contract for a whole house remodel from a door to door salesperson the same should be said for public adjusters. Generally, unless you have a total loss on a high value home you won’t hear from them. Btw the going rate is 5%. More than that, unless it’s a small loss is robbery.If you are talking about a public adjuster, there was an outfit that came in to my town a few years ago after a big hailstorm. they went door to door getting people signed to contracts and then screwed most of them. They got sued a couple of times And lost. Made the front page of the paper.
We use Erie also and they have been good to work with.+1 For Independent Agents! We went through an independent agent and selected Erie Insurance. We've had great success with them, we can call and speak to a person; there isn't any phone tree to have to punch a button and hope to get to a human. We can talk about what's happened without automatically filing a claim (minor ding on my sons car when someone backed into him in a parking lot and drove off). Some things are better to handle on your own b/c the cost doesn't really benefit filing a claim.
We've had some hard moments and Erie has had remarkable customer service through all of them. You have a direct number to an actual person who either answers your call or actually calls you back when you leave them a message. I was rear ended by a felon who had no insurance, their investigator was able to get him to admit it on a recorded call. I didn't have to pay any deductible, Erie covered the entire repair and my rates did not change. They don't offer coverage in every state to minimize risk, but it's available in Indiana.
No, there is a huge difference in the independent agent companies and the captive agent companies.
Also it is hard to find real independent data on these companies, it is all about who is biggest.
Never said independent companies were cheaper. Remember the SF type companies have to pay for billions of dollars in TV sports sponsorship. That are dollars not available for claims. Most contractor friends i know say SF turns down claims at a high rate…There is a tactical difference in how they work, but I don't think it amounts to anything. I've worked with independent agents before to get quotes from various companies, and they were not any cheaper. Even though they have "multiple companies" to work with, they charge more than Allstate and State Farm for the same coverage.
FIFY"There are other insurers."
MostAll of them arethief'sthieves
... I have two words you should use with any insurance company…..
...
Big hail came through our neighborhood about 20 years ago. EVERYBODY got a new roof, except for our neighbor who had SF.I had SF for 8 years. I had to file a claim for a damaged roof and they dropped me right after the claim was paid. Apparently they only want you as a customer if you’re paying and never asking anything in return.