I suspect the shortage of construction workers and materials will be the longest delay. I\’m really surprised that there were/are delays with the insurance companies. \”look how good we did when…\” make the best advertising for new business and some of the majors are missing their chance.
As far as my wise crack…..I haven\’t got that quick of a response since I wore orange tennis shoes with my tux.
gotta smile, guys…..it\’s a long time \’til March.
Fema came out to my house yesterday and explained a few things to us, told us not to cash the checks because of a disclosure on the back of it that nobody reads! She said to obtain at least 2 estimates for every job needed in the house, problem is everyone is so backed up with work and estimates are taking weeks to months just to get one, you can rarely even speak with anyone, and we have called everyone in the phone book countless times. We have one estimate for the floor, that\’s it! We are 7 weeks into this, aggrevating as it is, I understand everyone needs to protect their investments and everyone reading this should purchase flood + homeonwers with replacement value for contents and pay for a few of the extra\’s, read your policies! Luckily we have a great agent who is also a friend and we insured everything, so will rebuild and replace and we will be back! First time it has flooded here in my 31 years here, regardless, if you live on the coast or a low lying area, purchase flood insurance, your house is the biggest investment of your life, by all means, protect it!
Susan since you don\’t live here then maybe I can explain part of the problem to you regarding Allstate rates maybe going up.
The rocket scientist at your company underpriced coverage all along the Texas Gulf Coast to get market share with the intent of raising rates when they squeezed out some of the competition. However, there was a big storm that hit before they got to where they needed to be. So rates were going up storm or no storm. As far as not paying claims…why would we need insurance companies if they did not pay claims. Oh yes I do have a business and we sometimes pay for things we did not collect for. It\’s call customer goodwill and public relations.
Earlier in the spring some company in Florida announced a huge rate increase for renewing business. The insurance board instantly announced they were going to do something about it.
I figured the company had two outcomes. By the time the hearings are done they would either have a big storm which would validate the higher rate or they wouldn\’t have a big storm and giving back the money would be no big deal.
It\’s an ad-hoc way to have the tax advantage of being a stock company and the premium cushion of an old-style mutual company.
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I suspect the shortage of construction workers and materials will be the longest delay. I\’m really surprised that there were/are delays with the insurance companies. \”look how good we did when…\” make the best advertising for new business and some of the majors are missing their chance.
As far as my wise crack…..I haven\’t got that quick of a response since I wore orange tennis shoes with my tux.
gotta smile, guys…..it\’s a long time \’til March.
Fema came out to my house yesterday and explained a few things to us, told us not to cash the checks because of a disclosure on the back of it that nobody reads! She said to obtain at least 2 estimates for every job needed in the house, problem is everyone is so backed up with work and estimates are taking weeks to months just to get one, you can rarely even speak with anyone, and we have called everyone in the phone book countless times. We have one estimate for the floor, that\’s it! We are 7 weeks into this, aggrevating as it is, I understand everyone needs to protect their investments and everyone reading this should purchase flood + homeonwers with replacement value for contents and pay for a few of the extra\’s, read your policies! Luckily we have a great agent who is also a friend and we insured everything, so will rebuild and replace and we will be back! First time it has flooded here in my 31 years here, regardless, if you live on the coast or a low lying area, purchase flood insurance, your house is the biggest investment of your life, by all means, protect it!
Susan since you don\’t live here then maybe I can explain part of the problem to you regarding Allstate rates maybe going up.
The rocket scientist at your company underpriced coverage all along the Texas Gulf Coast to get market share with the intent of raising rates when they squeezed out some of the competition. However, there was a big storm that hit before they got to where they needed to be. So rates were going up storm or no storm. As far as not paying claims…why would we need insurance companies if they did not pay claims. Oh yes I do have a business and we sometimes pay for things we did not collect for. It\’s call customer goodwill and public relations.
I don\’t know, but could it be that when Allstate\’s Texas policy has less obligation written into it for ALE they could offer a lower price?
I think that was the result they hoped to achieve.
Earlier in the spring some company in Florida announced a huge rate increase for renewing business. The insurance board instantly announced they were going to do something about it.
I figured the company had two outcomes. By the time the hearings are done they would either have a big storm which would validate the higher rate or they wouldn\’t have a big storm and giving back the money would be no big deal.
It\’s an ad-hoc way to have the tax advantage of being a stock company and the premium cushion of an old-style mutual company.
Gee, was it Allstate that non-renewed 92,000 policies in Florida and then filed for rate or am I mistaken?
Could have been. I don\’t know that my little imaginings of the either or scenario is right, but it seemed to make sense to me.
The front page article in the Beaumont Enterprise today says Allstate is going to pay for fences and trees now. It seems they made a policy change in 2004 and none of their agents were aware of it!! Here is the link http://www.southeasttexaslive.com/site/news.cfm?newsid=15549636&BRD=2287&PAG=461&dept_id=512588&rfi=6
I\’ve heard that there are some agents who cannot read.