Farm Bureau Insurance RANT

[Glocktogo]

OFB can DIAF as far as I'm concerned!

 

[angsniper]

I won't use anyone but USAA. I've never had an issue and they have even waived my deductible.

 

[elwoodtrix]

http://www.okshooters.com/showthread.php?151428-home-owners-insurance

I got a guy on my route that beat FB rates 200 less a year...

 

[Okie4570]

Had the same thing happen to us. I switched to State Farm since we already have our auto insurance through them as well. There is only a slight increase since SF will discount our autos when adding a home owner's policy. We have been with Farm Bureau 8yrs and not a single claim. Oh well, time to move on!

Exactly same situation for us, only for seven years. Autos with SF, FB was cheaper. Now that they dropped us, SF is cheaper! Not sure why they weren't the first time.

 

[smax]

After 11 years without a single claim, OFB today notified me that insurance on my home would not be renewed. I call the agent and find that they will only continue my policy if I add my car insurance. I have had my auto insurance with USAA for 43 years and don't see the need to change (OFB can't come close to the rates anyway). I told them I expected a refund on my membership, which was paid today through e-banking. The response was, those memberships are non-refundable. All I have done for 11 years is pay the premium. So much for loyalty. Watch your mail, you too can be betrayed!!!!!! RANT JUST STARTED!!!

FB did this exact same thing to us in August lol. 12 years with no claims and this. I hate insurance companies.

 

[vvvvvvv]

Exactly same situation for us, only for seven years. Autos with SF, FB was cheaper. Now that they dropped us, SF is cheaper! Not sure why they weren't the first time.

Be sure to read the policy to compare benefits.

When we bought our house, we ended up with State Farm even though 3 out of the other 5 quoted us lower rates. All three of the cheaper options had significantly more "outs" for them, even though the coverage numbers quoted where the same as (with one having a personal items number higher than) State Farm that year.

 

[Jwryan84]

Insurance doesn't work on loyalty. Your risk is insured for the policy period, usually 6 months to a year. They determine the amount of premium by how risky you are, that money goes into a pool for the policy period and is paid out during that policy period. After that, it's gone and you start over, no loyalty, just coverage for that policy period. Your premiums don't just hang around for so many years until you need them, they don't keep count on what you have paid in in the past. Just that if you have loss during the policy period you have coverage.

If you be dropped go somewhere else with a policy you like. But don't blame the insurance company for not understanding how insurance works.

 

[cichlid-dave]

Insurance doesn't work on loyalty. Your risk is insured for the policy period, usually 6 months to a year. They determine the amount of premium by how risky you are, that money goes into a pool for the policy period and is paid out during that policy period. After that, it's gone and you start over, no loyalty, just coverage for that policy period. Your premiums don't just hang around for so many years until you need them, they don't keep count on what you have paid in in the past. Just that if you have loss during the policy period you have coverage.

If you be dropped go somewhere else with a policy you like. But don't blame the insurance company for not understanding how insurance works.

.

Great statement. Paying for insurance is like putting gas in your car. When it runs out you have to refill. I have always liked hearing folks say the insurance company canceled me and most of the it is due to failure to pay.


On another note read your policies as I have seen some with great rates but with lots of limitations and with big wind and hail deductibles. Ask your agent but it is like don't ask don't tell

 

[Glocktogo]

Insurance doesn't work on loyalty. Your risk is insured for the policy period, usually 6 months to a year. They determine the amount of premium by how risky you are, that money goes into a pool for the policy period and is paid out during that policy period. After that, it's gone and you start over, no loyalty, just coverage for that policy period. Your premiums don't just hang around for so many years until you need them, they don't keep count on what you have paid in in the past. Just that if you have loss during the policy period you have coverage.

If you be dropped go somewhere else with a policy you like. But don't blame the insurance company for not understanding how insurance works.

Unless you're looking for the absolute cheapest rate to show coverage, insurance for the consumer is about an uneasy mutual trust. I don't trust my insurance company to have my interests over theirs, but I do expect them to have enough of my interest to keep me feeding them premiums. If the company suddenly decides to drop me for no apparent reason and no explanation, even that minimal level of trust is gone. Same thing if they skyjack my rates or drop me after one claim. I've had several claims over the years with State Farm. However, those claims don't total near as much as we've paid them for home, multiple autos, life, personal property and boat policies over 19 years. they didn't always raise our rates after a claim either. It's a mutually beneficial arrangement. They make money and I'm protected against possible financial disaster.

I'd certainly trust them more than a lousy insurance company like OFB!

 

[Blinocac200sx]

While the whole Insurance is like gas argument normally holds up, it sounds like FB charges for some kind of membership over and above the insurance. In which case, there should be some loyalty.