I heard they were in financial trouble.
how would one find that out?
how would one find that out?
https://www.wglt.org/local-news/202...record-13-2-billion-underwriting-loss-in-2022
I think all insurance companies were hit hard in 2022. USAA was too.
That's somewhat still the case, you just have to do a LOT more squawking. Like call the insurance commissioner squawking.
Example: One of my friends has been with State Farm for 15 or so years. He's got damage, turned in a claim, SF's own adjustor recommended a full roof replacement. Mind you, this is their adjustor they sent out. SF came back and said they have reviewed the claim and are denying coverage. He went to his agent, got another adjustor, same thing. He's now having a third party look at it, provide a detailed report, and sending it in to the commissioner.
What does your friends policy cover? The roof will be prorated, how olds the roof? Did they ever file a roof claim, pocket the money and not have the roof replaced? if so that could lead to the claim being denied.
I have full replacement cost coverage. If it costs $50 a few years ago but now costs $200 it gets replaced, only out of pocket is my deductible.
I had my roof replaced last December. the roof was 13 years old, It had started to leak, you could hear it when it rained. I called a roofer I know, been in business 20 years, I was thinking replace a couple roof vents and flashing, nope I heard the sound of the shingles crunch under his feet, he stopped looked around came down and said file a claim, you need a new roof.
Used the app, filed the claim, claims adjuster contacted me, we set a time for her to come out. She came out, met the roofer here, she spent 2 hours going over the roof, gutters, siding, windows, sheetrock inside.
When she was done, she said new roof, let me get the forms started, then said we can send the first check by mail or do a instant deposit. I chose instant, she told me what I needed to do when she sent me the email few minutes later, bam got a deposit alert on my phone, roofer said we will be here Wed to start.
They showed up house was roofed and site cleaned by 4pm, I sent pics to the adjuster, the next day she released the amount for the full replacement costs of the roof minus the amount she paid earlier. Roofer was paid in full on Friday by me with a cashier's check.
Never needed to call my agent, who would direct you to the claims department anyway, since that's who handles claims, not the agent.
My auto comprehensive claim went just as smooth, all done thru the app.
Your agent will direct you to contact the claims department. You the policy holder will need to start a claim.
Any insurance company is going to have you contact their claims department, thats what those folks do day in and out,
Your agent is there to help guide you in choosing the right coverage for you and your needs. You dont want too much insurance but you also do not want to not have enough.
Every few years I visit with my agent to review my coverage needs and if needed we make adjustments.
One thing I insisted on is the full replacement coverage for my homeowners, not only structure but also contents and outbuildings.
Yes it costs a little more but there no coming up with funds in the event of a loss to the covered item being prorated, other than my deductible.
I can say the same for my family only about 37 yrs, but saldy my Agent retired about 2 yrs ago, new one so far seem ok.
Ah. The good ole days. When someone would show up at insurance company HQ and make adjustments.
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