Car/Home Owners Insurance Reform

davidtrios

http://news.yahoo.com/couple-says-allst ... money.html

These elderly Hurricane Sandy victims were short-changed $270k in their claim by Allstate AND were used in an Allstate ad without their permission. Is it time for some Insurance Reform?


Yes, yes it is.

F Me In The Brain

One of my uncles is an Insurance Adjustor. He used to represent the insurance companies following the natural disasters and would fly into a region and look at multiple places a day for weeks and write reports.
He quit that after a few years -- said that the insurance companies were constantly pushing the guys to visit sites faster and submit lower estimates on the damages they reviewed.

For the past 10 years or so he has worked for himself as a private sector adjustor -- so now he goes where the natural disasters are and gets clients who feel the insurance companies are squeezing them and he visits their properties and draws up a report that he feels accurately represents the damages reviewed. The clients then go back to their insurance companies and invariably there is a large gap between the 2 sides...and they negotiate a better settlement.

New York and New Jersey (I believe NJ also did) signed an emergency order that allows independent adjustors licensed in other states to come in and help those impacted by Sandy since there were not nearly enough to provide valid coverage for people who felt the insurance company representatives were shorting them.

My uncle has been in New York (Rockaway area) for the past few weeks and described the situation as 'the norm' -- the insurance companies are low-balling as usual.

I guess that is the way they do it but it is criminal that they collect and collect for years and when it is time to pay up they do everything they can to avoid it.

davidtrios

F Me In The Brain wrote:

One of my uncles is an Insurance Adjustor. He used to represent the insurance companies following the natural disasters and would fly into a region and look at multiple places a day for weeks and write reports.
He quit that after a few years -- said that the insurance companies were constantly pushing the guys to visit sites faster and submit lower estimates on the damages they reviewed.

For the past 10 years or so he has worked for himself as a private sector adjustor -- so now he goes where the natural disasters are and gets clients who feel the insurance companies are squeezing them and he visits their properties and draws up a report that he feels accurately represents the damages reviewed. The clients then go back to their insurance companies and invariably there is a large gap between the 2 sides...and they negotiate a better settlement.

New York and New Jersey (I believe NJ also did) signed an emergency order that allows independent adjustors licensed in other states to come in and help those impacted by Sandy since there were not nearly enough to provide valid coverage for people who felt the insurance company representatives were shorting them.

My uncle has been in New York (Rockaway area) for the past few weeks and described the situation as 'the norm' -- the insurance companies are low-balling as usual.

I guess that is the way they do it but it is criminal that they collect and collect for years and when it is time to pay up they do everything they can to avoid it.

thanks for the POV

81

never trust an insurance company

not sure it needs reform, or if we need consumers that will fight for what is right.

Bentleyspop

More than 2 years ago the 4 Mile Canyon fire happened a few miles from where I live.
169 homes were totally destroyed.
And now 28 months later there are still some homeowners that have not recevied settlement checks from their insurance companies.
Some got their checks within a few weeks and have rebuilt.
Others are still waiting.
:shock:

josevolution

I have State Farm for my home insurance and i have to give them props they came thru really fast with the money i needed to rebuild parts of my house that were damaged from Sandy , now i'm sure my rates will be going up but still they came thru big time for me ...