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Insurance Companies- A Rip-off !!

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Old 12-12-2002, 01:40 PM
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Angry Insurance Companies- A Rip-off !!

A couple of months ago, we were burglarized at home while at the lake. We filed the police report and notified the insurance co. The claims agent sez: Go to the jewelry stores and get estimated prices on the items stolen & a description, send it the her....no problem.... I did that & it took a lot of my time going to the stores to find like items, as much as possible. Now mind you I only had a $5000.00 rider policy and the gross of stolen items was $8400.00. Meaning the most I can recover is $5000.00. Now an "outside jewelry" consultant calls (does not reveal what she is), wants to see us about a "couple of items". Ok, we make an appointment. We get there, seemingly extreme security (two locked doors) for an insurance agent, who personally has to let you in. Now the real truth...... they want us to go thru their catalogues and item by item to find: the correct ring base, the mounting for the stone(s) and the correct size & color of stones, the grade 14,16,18 carat . We must figure out the weight of the ring, the weight of the stone, etc...... then they say: "are you going to replace these?" Of course we will, but with different stuff! Some of this was gifts from her to me, & vice/versa, childhood gifts from Mom & Dad, 30 year anniversary watches for my company.... what business is it of theirs if I replace it or not? ..... Now I find out..... one ring had an estimated value of $2000.00 retail... they say they can replace it for $1100.00 !!! I don't care ! The value is $2000.00 !! Now they want us to do this for 19 other items stolen. Rmember I said this was a maximum of $5000 recovery? I claimed $8400 lost, but I assigned no value to four items because I was over the recovery amount...... I/we could spend a week doing nothing but going thru her catalogues in her office...they can't leave. Will the insurance company pay me to spend that much time? Hell no..... I may have to get the BAT !! Where is it???

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Old 12-12-2002, 01:55 PM
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Insurance companies...don't even get me started.
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Old 12-12-2002, 01:58 PM
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I have never seen such BS from a company as to what i ma going through with American Family.
 
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Old 12-12-2002, 02:01 PM
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I'm waiting for my agent to get back in the office from a "regional" meeting. Boy is he going to get a ear full!!
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Old 12-12-2002, 02:04 PM
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and oh yeh.... he insures three houses, five boats, 2 cars/trucks, etc, etc,,,,,, ya' reckon' that's going to make a difference?? I doubt it. I may be changing companies! This really pisses me off!
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Old 12-12-2002, 02:21 PM
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I'd tread lightly until you settle then make a bunch of noise!! See how he feels about loosing your policy then! I'd be concerned that if you do the threats prior to settlement it would just drag it on???

just my .02?

Good luck
 
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Old 12-12-2002, 02:26 PM
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Blowformula,

Good luck! They love to take your money but play hell when they have to give some back. I recently received my homeowners renewal notice and the premium is going up over 30% this year and I have never had a claim with this company since I have been with them (7-8 years). My agent says they are just having to pay out to many claims. What's a guy to do.

Maybe I should start filing claims to get some of my money back.
 
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Old 12-12-2002, 02:29 PM
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sherman-what is you gripe with AmFam? I've had them for a long, long time now and have had both good and bad experiences. My feeling was that it really had to do with the adjuster that you have. I had the same one for two accidents and he was a real piece of work. The last one was dream come true-offer us more than book value!
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Old 12-12-2002, 02:30 PM
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Isn't that grand, having to pay out too many claims...nice to know that everyone can cover the claims!! You ought to ask him if the value of your house went up 30% last year also
 
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Old 12-12-2002, 03:20 PM
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Where is the
"PHRKNLWYER" when ya' need him!!


The question is : can an insurance company require you to miss work between specific hours (to meet their needs) to process your claim ?? Can they require you to accept wholesale costs quoted by their agent on jewelry purchased at retail??

Still waiting for my agent.... I won't make the "removal" threat, just maybe the " talk to my lawyer" threat.. I've known this guy for 20 years!! He's gotta help.
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