I don’t know about everyone else’s experience, but as an Independent Agent, I have had very few problems with our carriers’ handling of our claims. A couple of the low-budget groups need help in that area, but that was expected.
Actually, I have been completely amazed at how many claims were handled and finished within a couple of weeks. Most of our clients are happy and moving down the road. I would have expected several weeks of delays just to see an adjuster, but that hasn’t played out in this disaster.
But, where 98% of our troubles lie, is with the Texas Fair Plan. All I can do is thank God that we didn’t have but a very small percentage of our clients in that market. But, of the 30-50 we do have, it’s been like pulling your own wisdom teeth to get ANYTHING done.
If this were a real insurance company, they would have been shut down by the TDI by now.
The TWIA (wind pool) is our next greatest trouble. But, at least things do eventually happen on that side.
TFPA is just a joke. The only thing Fair about their entire program is the price. Nothing else can be equated to anything close to fair.
Everyone I know has complaints against their Insurance company. Not everyone has filed a complaint with the Insurance Commision because of apathy! FEMA has been a joke! So why would we keep complaning when no response ,is the only one received.
My home had severe flood damage, it is not livable. The flood adjuster came over 2 months ago, and I have yet to receive any information from SWBC/Lloyds regarding the damages. I requested a policy several times from Lloyds,and SWBC, and have yet to receive even that. Now I am forced to seek legal advice. The State Farm adjuster for the wind damage had an answer for almost everything “we don’t pay for settlement” His comment about a ceiling crack that occured with the hurricane was “Obama wasn’t president before the election.” Everyone in my neighborhood that had severe damage has experienced similiar.
I’m truly sorry that you are experiencing problems, but I know for a fact that everyone has not had a similar experience. I personally know of a LOT of very satisfied claimants. In fact, I know many people that received more money than they really needed. But, that doesn’t make it any easier when you still have a problem. If 99.9% are handled correctly, and you fall into the .1%, then the trouble is still just as bad.
Our agency has about 1200 households insured for personal lines coverage (autos and homes). We have only had about 6 complaints from our preferred company clients, and every one of those were resolved with 1 or 2 phone calls from our agency. I’m very thrilled with the Independent carriers that we have partnered with to serve our agency’s clients! For the record, I’m certain we will still have the mandatory couple of clients that can’t be satisfied no matter what the company does. Knock on wood, I haven’t had to take that call yet.
However, the low-bid companies have had more problems. Unfortunately, we do have a couple of those companies that we represent as well. I don’t know of any that haven’t paid what they should yet, but they do take much longer than the others.
And, the Texas Fair Plan has been an absolute disaster. Not just for my agency, but other agents that I know. Fortunately, we only have about 30-40 Fair plan policies on our books. Of those, however, a majority have filed claims and still have no money yet. On the other end of the spectrum, the carrier where we place the most of our business rarely took more than 7-10 days to have a check in our client’s hands.
That was an unexpected thrill, I can tell you. Quite honestly, after seeing the delays from Katrina and Rita, we fully expected it to take months before all of our clients would even see an adjuster. It’s a supply and demand thing, and there are only so many adjusters.
Flood is always slower than the average insurance claim …because it’s a Federal bureaucracy. Texas Fair Plan is a State bureaucracy. So, delays are simply expected although unfortunate. The most disappointing thing about the Texas Fair Plan is the fact that it is supposed to be a carrier of LAST resort. Unfortunately, they were priced so low, they became a standard market for too many low-bid agents and customers. They were bloated beyond belief. Way too many of those policies in the market. It is not possible that there are that many uninsurable homes in our State. So, people chose that market for the good price.
Just another supporting argument that price should not be the end-all decision maker when it comes to something as truly important as protecting your most valuable assets.
As far as most people being apathetic, I don’t believe that’s true. If it is, that’s pitiful. If I had a claim that was not handled properly on my own property, I’d be all over them and the Department of Insurance. Are you kidding me?
Why don’t you have a copy of your insurance policy? If I’m a betting man, you were the client that just wanted the cheapest price and the policy itself wasn’t important …just one of those annoying mortgage company requirements. Otherwise, you would have had a copy of the policy with your other important papers …Mortgage Loan documents, Title Policy, Birth Certificates, Warranties, etc. Do you keep any of those important papers?
Of all the people I know in this area, only 2 have been happy with their insurance company. As an example, my parents, whose home is technically unliveable (no walls or floors, and we won’t even talk about furniture), were offered a ridiculously low sum in compensation. After much argument with the adjuster, then taking their complaints higher within the company, the result was that the adjuster was astounded that it was salt water that flooded their home, and of course that makes a difference! Jeepers, with no roof damage in a home 2 blocks from Galveston Bay, what kind of water did he think it was? From a fresh water aquarium, maybe? They’re still arguing their claim 3-1/2 months down the road. It’s just ridiculous.
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I don’t know about everyone else’s experience, but as an Independent Agent, I have had very few problems with our carriers’ handling of our claims. A couple of the low-budget groups need help in that area, but that was expected.
Actually, I have been completely amazed at how many claims were handled and finished within a couple of weeks. Most of our clients are happy and moving down the road. I would have expected several weeks of delays just to see an adjuster, but that hasn’t played out in this disaster.
But, where 98% of our troubles lie, is with the Texas Fair Plan. All I can do is thank God that we didn’t have but a very small percentage of our clients in that market. But, of the 30-50 we do have, it’s been like pulling your own wisdom teeth to get ANYTHING done.
If this were a real insurance company, they would have been shut down by the TDI by now.
The TWIA (wind pool) is our next greatest trouble. But, at least things do eventually happen on that side.
TFPA is just a joke. The only thing Fair about their entire program is the price. Nothing else can be equated to anything close to fair.
Everyone I know has complaints against their Insurance company. Not everyone has filed a complaint with the Insurance Commision because of apathy! FEMA has been a joke! So why would we keep complaning when no response ,is the only one received.
My home had severe flood damage, it is not livable. The flood adjuster came over 2 months ago, and I have yet to receive any information from SWBC/Lloyds regarding the damages. I requested a policy several times from Lloyds,and SWBC, and have yet to receive even that. Now I am forced to seek legal advice. The State Farm adjuster for the wind damage had an answer for almost everything “we don’t pay for settlement” His comment about a ceiling crack that occured with the hurricane was “Obama wasn’t president before the election.” Everyone in my neighborhood that had severe damage has experienced similiar.
Marie,
I’m truly sorry that you are experiencing problems, but I know for a fact that everyone has not had a similar experience. I personally know of a LOT of very satisfied claimants. In fact, I know many people that received more money than they really needed. But, that doesn’t make it any easier when you still have a problem. If 99.9% are handled correctly, and you fall into the .1%, then the trouble is still just as bad.
Our agency has about 1200 households insured for personal lines coverage (autos and homes). We have only had about 6 complaints from our preferred company clients, and every one of those were resolved with 1 or 2 phone calls from our agency. I’m very thrilled with the Independent carriers that we have partnered with to serve our agency’s clients! For the record, I’m certain we will still have the mandatory couple of clients that can’t be satisfied no matter what the company does. Knock on wood, I haven’t had to take that call yet.
However, the low-bid companies have had more problems. Unfortunately, we do have a couple of those companies that we represent as well. I don’t know of any that haven’t paid what they should yet, but they do take much longer than the others.
And, the Texas Fair Plan has been an absolute disaster. Not just for my agency, but other agents that I know. Fortunately, we only have about 30-40 Fair plan policies on our books. Of those, however, a majority have filed claims and still have no money yet. On the other end of the spectrum, the carrier where we place the most of our business rarely took more than 7-10 days to have a check in our client’s hands.
That was an unexpected thrill, I can tell you. Quite honestly, after seeing the delays from Katrina and Rita, we fully expected it to take months before all of our clients would even see an adjuster. It’s a supply and demand thing, and there are only so many adjusters.
Flood is always slower than the average insurance claim …because it’s a Federal bureaucracy. Texas Fair Plan is a State bureaucracy. So, delays are simply expected although unfortunate. The most disappointing thing about the Texas Fair Plan is the fact that it is supposed to be a carrier of LAST resort. Unfortunately, they were priced so low, they became a standard market for too many low-bid agents and customers. They were bloated beyond belief. Way too many of those policies in the market. It is not possible that there are that many uninsurable homes in our State. So, people chose that market for the good price.
Just another supporting argument that price should not be the end-all decision maker when it comes to something as truly important as protecting your most valuable assets.
As far as most people being apathetic, I don’t believe that’s true. If it is, that’s pitiful. If I had a claim that was not handled properly on my own property, I’d be all over them and the Department of Insurance. Are you kidding me?
Why don’t you have a copy of your insurance policy? If I’m a betting man, you were the client that just wanted the cheapest price and the policy itself wasn’t important …just one of those annoying mortgage company requirements. Otherwise, you would have had a copy of the policy with your other important papers …Mortgage Loan documents, Title Policy, Birth Certificates, Warranties, etc. Do you keep any of those important papers?
Avez,
Did you parents have a flood policy? It sounds like they had damage from the tidal surge, and that’s not covered by a regular home policy.
I hope your agent let them know when they purchased the home.
Of all the people I know in this area, only 2 have been happy with their insurance company. As an example, my parents, whose home is technically unliveable (no walls or floors, and we won’t even talk about furniture), were offered a ridiculously low sum in compensation. After much argument with the adjuster, then taking their complaints higher within the company, the result was that the adjuster was astounded that it was salt water that flooded their home, and of course that makes a difference! Jeepers, with no roof damage in a home 2 blocks from Galveston Bay, what kind of water did he think it was? From a fresh water aquarium, maybe? They’re still arguing their claim 3-1/2 months down the road. It’s just ridiculous.