Sandy victims low-balled by their insurance company

[CaptainNJ]

Originally Posted by texdav

I really doubt that a home can be destroyed by the wind levels of sandy without it being struturally unsound. A Artticle o a clain does not porove what really destroyed the home. In mnay areas near shoreline its way higher than 250 dollars and is likely to go way up after this storm and they reevluate the flood zones.Know people here who flood insurance has gone from 300 to 2400 because of revaluation and never been flod before.

the damage i saw that was caused by the wind was where the wind knocked a tree down onto a house.

[Mathguy]

Originally Posted by magnoliams

I'm so sorry that the victims of Sandy have been hit 3 times, by Sandy, blizzards and the insurance industry. They did the same thing in Mississippi after Katrina. They made more profit than ever before that year. They need to all be in prison! I got nothing because their claim, even though I live a mile from the Gulf, was that the 4 1/2 feet of water I got had nothing to do with wind. I wish there was some way to avoid them all together. Our Insurance commissioner is absolutely useless!

Company A sells 100million in policies each year.

The year a major hurricane hits they pay 300million in losses. Yay!
The 10 years there are no hurricanes they paid out 70million in losses. Boo! Send them all to prison!

Companies selling catastrophic coverages for hurricanes, earthquakes etc. need to be making large profits in non-event years in order to pay for the infrequent bad years.

You are legally not allowed to accrue a liability for eventual bad years.

Frankly, it's uneducated attitudes and flat out myths and lies about stuff like this that poisons the public attitude. There are a number of states where insurers don't even want to insure things because the legal and public atmosphere is toxic. MS is one of those states, imagine if nobody even wrote insurance in your state? It's happened before.

P.S. A mile from the gulf means you got storm surged and chose not to buy flood insurance. FYI- most flood insurance is govt. sold and is far from profitable.

[ukiyo-e]

There was a case in California recently where Farmers Insurance actually used the "acts of God" clause to avoid paying a claim. A driver had a heart attack and lost control of his car, causing an accident that totaled another car. The insurance company claimed that the driver did not cause the accident, even though he lost control of his car. I believe the case is under appeal now, and they've gotten very bad publicity from it.

I have serious objections to "acts of God" clauses. When fundamentalists blame every natural disaster on God punishing someone or some group for this or that, it's conceivable that insurance companies could deny any claim for anything.

[Mathguy]

Originally Posted by ukiyo-e

There was a case in California recently where Farmers Insurance actually used the "acts of God" clause to avoid paying a claim. A driver had a heart attack and lost control of his car, causing an accident that totaled another car. The insurance company claimed that the driver did not cause the accident, even though he lost control of his car. I believe the case is under appeal now, and they've gotten very bad publicity from it.

I have serious objections to "acts of God" clauses. When fundamentalists blame every natural disaster on God punishing someone or some group for this or that, it's conceivable that insurance companies could deny any claim for anything.

This is the article...
Press Democrat | Mobile | Woman trying to collect after insurer labels traffic accident 'act of God'