Aly W. I appreciate where you are coming from as I too have been on the agency sales side. Too many times the insured is in a hurry and not interested in hearing all the disclaimers and exclusions. Having also come from a property Claims background, I would usually scare them with my claims stories….this proved to be very effective with those who cared….but alot of customers, especially the ones with expensive closing costs, want the lowest price possible. They keep thinking they will get to reading the policy later, then the inevitable occurs. I do agree there are some adjusters out there who are stubborn…but I’m thinking those are probably “independent adjusters” working for various carriers at the same time and are overtaxed….at least that is what I have witnessed out in the field…
Aly W. I appreciate where you are coming from as I too have been on the agency sales side. Too many times the insured is in a hurry and not interested in hearing all the disclaimers and exclusions. Having also come from a property Claims background, I would usually scare them with my claims stories….this proved to be very effective with those who cared….but alot of customers, especially the ones with expensive closing costs, want the lowest price possible. They keep thinking they will get to reading the policy later, then the inevitable occurs. I do agree there are some adjusters out there who are stubborn…but I’m thinking those are probably “independent adjusters” working for various carriers at the same time and are overtaxed….at least that is what I have witnessed out in the field…
Sorry to inform you J, but there are just as many “stupid” agents out there as there are “hard headed” adjusters. That’s why they have agent’s E&O.
After 24 years in the claims business, my experience has been that, for some reason, agents seem to have a more difficult time getting their claims settled than almost any other profession, with the exception of clergy, police officers, military officers (retired the worst), and politicians.
I’m an adjuster fresh back from Florida. Literally tens of thousands of us desecded on Florida. 99.99% are experienced adjusters. The “hard headed” adjusters are quickly weeded out and sent packing. The insurance companies don’t need the grief.
We all use various computer estimating programs developed by the construction and auto repair industries. They set the prices. The insurance industry sets insurance costs, not repair and construction costs.
Sounds like this lawyer is saying it’s USAA’s fault the he refused to buy the flood insurance that USAA offered? USAA knows what properties are in a flood zone and would receive commission and handling fees for selling a flood policy. Under federal law, USAA cannot refuse to sell flood insurance. The attorney must have paid cash for his water-front mansion, otherwise the mortgage company would have insisted on a flood policy.
This so-called ambulance chaser sounds like a real “Bottom Feeder!”
Flood Ins. is a federal program, not regulated by states. We have a fast-track arbitration process for settling differences between, HO, flood and wind coverages so the policyholder isn’t caught in the middle. When a policyholder buys full coverage, then it’s no longer his problem which policy should respond.
USAA is usually ranked among the top five insurers in terms of customer service. I’ve never worked for USAA!
Lawyers promote stupidity and personal irresponsibility in society by suggesting that someone else is always to blame. I would like to know if the claimant read his policy and if he understood it, the Declaration page clearly states “THIS POLICY DOES NOT COVER LOSSES RELATED TO FLOOD DAMAGE” he does not even need to read past the Dec page to see there is NO FLOOD coverage. If this were a “low risk” zone a preferred risk policy would be available at a greatly reduced cost, but consumers WON’T buy insurance that is not required, Unless you show them pictures and tell them horror stories they will keep their dollars in their pockets and not protect their homes. I have offered additional incentives to the agents in my office to sell Preferred risk flood policies and only about 2% of consumers even let you get past the part about it being an option. I can see it now,”Agent arrested for SLIDING flood insurance”. As far a USAA, It looks like there is NO agent to blame, but it goes a long way in the “you get what you pay for” fight. If you don’t buy from an agent that knows what you should buy and offers the options that are available, then you better be educated in policy provisions when you call that 800 number and don’t blame anyone but yourself when you don’t get everything you need. Better yet, file suit against YOURSELF, because you were the idiot that bought the coverage from someone you can’t even see and certainly will never talk to again after the sale. I can’t wait until an attorney files the first suit against a direct writer insisting that the consumer would have received better service and advise from an agent that has no connection with the company instead of a company employee on the 800#.
We have a lot of problems with Realtors- they are the ones telling these insured they dont need flood insurance- are they being sued? No just like someone else said the mortgage comp nor the closing agent are in question here. Yes there are agents out there they may let slide but they are making money if sold so why would they? Flood insurance is offered in EVERY quote here in any office I have ever been in & we do have a rejection form for them to sign. 80% of people that come into our office is in a hyrry & dont care they want there closing cost cheep until there is an issue like this one them bam- let’s blames the agent b/c “I was in a hurry that day, I wanted the least cost possible due to closing, I did not READ my policy or want to understand what I was buying” but yep that is society these days- so freaking SUE happy
Did you call the company to make sure they received the estimate? Even so, sometimes desk adjusters are moving thru so fast they look only at their adjuster’s report.
Realtors can be a problem. One realtor here closed a home with a homeowner without finishing insurance paperwork. Thats where E&O steps in.
Agents on the whole are genuinely concerned for insureds. There are a few bad apples that ruin it for the rest. Most of the time they are guilty of ducking coverage questions during a claim. E&O takes care of the rest.
The real injustice is that no insurance companies have a system for this magnitude of an event. Even insureds that are proactive but aren’t given proper direction because random people end up on the phones. Instead of proving paperwork and regulalry calling their insurance company to check their claim, they hire a lawyer or PA and lose 10 to 33% of their money.
I agree with everyone who says that it’s the in client’s responiblity to READ and UNDERSTAND what they are purchasing. I can spend all day explaing their coverage , what is covers and doesn’t, and still they don’t get it. In my office flood insurance is not a big deal as we are inland and the chance of a flood is very slim. However people assume insurance pays for EVERYTHING. Even when I explain that liability in auto insurance pays in the event YOU cause to damage to someone’s property, and not much else, that same client will come to me and say that he was hit n ran…when i explain their is no coverage but he wantd the cheapest with no frills, in a sarcastic tone say, “Then why do I have insurance? I could on on about people I deal with on a daily basis. When do the client’s take respobility?
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Aly W. I appreciate where you are coming from as I too have been on the agency sales side. Too many times the insured is in a hurry and not interested in hearing all the disclaimers and exclusions. Having also come from a property Claims background, I would usually scare them with my claims stories….this proved to be very effective with those who cared….but alot of customers, especially the ones with expensive closing costs, want the lowest price possible. They keep thinking they will get to reading the policy later, then the inevitable occurs. I do agree there are some adjusters out there who are stubborn…but I’m thinking those are probably “independent adjusters” working for various carriers at the same time and are overtaxed….at least that is what I have witnessed out in the field…
Aly W. I appreciate where you are coming from as I too have been on the agency sales side. Too many times the insured is in a hurry and not interested in hearing all the disclaimers and exclusions. Having also come from a property Claims background, I would usually scare them with my claims stories….this proved to be very effective with those who cared….but alot of customers, especially the ones with expensive closing costs, want the lowest price possible. They keep thinking they will get to reading the policy later, then the inevitable occurs. I do agree there are some adjusters out there who are stubborn…but I’m thinking those are probably “independent adjusters” working for various carriers at the same time and are overtaxed….at least that is what I have witnessed out in the field…
Mark, you can not be that stupid and be an agent!
Mark, you can not be that stupid and be an agent!
Sorry to inform you J, but there are just as many “stupid” agents out there as there are “hard headed” adjusters. That’s why they have agent’s E&O.
After 24 years in the claims business, my experience has been that, for some reason, agents seem to have a more difficult time getting their claims settled than almost any other profession, with the exception of clergy, police officers, military officers (retired the worst), and politicians.
I’m an adjuster fresh back from Florida. Literally tens of thousands of us desecded on Florida. 99.99% are experienced adjusters. The “hard headed” adjusters are quickly weeded out and sent packing. The insurance companies don’t need the grief.
We all use various computer estimating programs developed by the construction and auto repair industries. They set the prices. The insurance industry sets insurance costs, not repair and construction costs.
Sounds like this lawyer is saying it’s USAA’s fault the he refused to buy the flood insurance that USAA offered? USAA knows what properties are in a flood zone and would receive commission and handling fees for selling a flood policy. Under federal law, USAA cannot refuse to sell flood insurance. The attorney must have paid cash for his water-front mansion, otherwise the mortgage company would have insisted on a flood policy.
This so-called ambulance chaser sounds like a real “Bottom Feeder!”
Flood Ins. is a federal program, not regulated by states. We have a fast-track arbitration process for settling differences between, HO, flood and wind coverages so the policyholder isn’t caught in the middle. When a policyholder buys full coverage, then it’s no longer his problem which policy should respond.
USAA is usually ranked among the top five insurers in terms of customer service. I’ve never worked for USAA!
Lawyers promote stupidity and personal irresponsibility in society by suggesting that someone else is always to blame. I would like to know if the claimant read his policy and if he understood it, the Declaration page clearly states “THIS POLICY DOES NOT COVER LOSSES RELATED TO FLOOD DAMAGE” he does not even need to read past the Dec page to see there is NO FLOOD coverage. If this were a “low risk” zone a preferred risk policy would be available at a greatly reduced cost, but consumers WON’T buy insurance that is not required, Unless you show them pictures and tell them horror stories they will keep their dollars in their pockets and not protect their homes. I have offered additional incentives to the agents in my office to sell Preferred risk flood policies and only about 2% of consumers even let you get past the part about it being an option. I can see it now,”Agent arrested for SLIDING flood insurance”. As far a USAA, It looks like there is NO agent to blame, but it goes a long way in the “you get what you pay for” fight. If you don’t buy from an agent that knows what you should buy and offers the options that are available, then you better be educated in policy provisions when you call that 800 number and don’t blame anyone but yourself when you don’t get everything you need. Better yet, file suit against YOURSELF, because you were the idiot that bought the coverage from someone you can’t even see and certainly will never talk to again after the sale. I can’t wait until an attorney files the first suit against a direct writer insisting that the consumer would have received better service and advise from an agent that has no connection with the company instead of a company employee on the 800#.
We have a lot of problems with Realtors- they are the ones telling these insured they dont need flood insurance- are they being sued? No just like someone else said the mortgage comp nor the closing agent are in question here. Yes there are agents out there they may let slide but they are making money if sold so why would they? Flood insurance is offered in EVERY quote here in any office I have ever been in & we do have a rejection form for them to sign. 80% of people that come into our office is in a hyrry & dont care they want there closing cost cheep until there is an issue like this one them bam- let’s blames the agent b/c “I was in a hurry that day, I wanted the least cost possible due to closing, I did not READ my policy or want to understand what I was buying” but yep that is society these days- so freaking SUE happy
Did you call the company to make sure they received the estimate? Even so, sometimes desk adjusters are moving thru so fast they look only at their adjuster’s report.
Realtors can be a problem. One realtor here closed a home with a homeowner without finishing insurance paperwork. Thats where E&O steps in.
Agents on the whole are genuinely concerned for insureds. There are a few bad apples that ruin it for the rest. Most of the time they are guilty of ducking coverage questions during a claim. E&O takes care of the rest.
The real injustice is that no insurance companies have a system for this magnitude of an event. Even insureds that are proactive but aren’t given proper direction because random people end up on the phones. Instead of proving paperwork and regulalry calling their insurance company to check their claim, they hire a lawyer or PA and lose 10 to 33% of their money.
I agree with everyone who says that it’s the in client’s responiblity to READ and UNDERSTAND what they are purchasing. I can spend all day explaing their coverage , what is covers and doesn’t, and still they don’t get it. In my office flood insurance is not a big deal as we are inland and the chance of a flood is very slim. However people assume insurance pays for EVERYTHING. Even when I explain that liability in auto insurance pays in the event YOU cause to damage to someone’s property, and not much else, that same client will come to me and say that he was hit n ran…when i explain their is no coverage but he wantd the cheapest with no frills, in a sarcastic tone say, “Then why do I have insurance? I could on on about people I deal with on a daily basis. When do the client’s take respobility?