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Started By
Message
Insurance Claims - Anyone been dropped?
Posted on 2/18/14 at 11:00 am
Posted on 2/18/14 at 11:00 am
Recently I've had an incredible string of bad luck as it relates to my insurance policies. After talking with my "agent", I learned I'm at risk of being dropped due to the number of claims.
I have State Farm (home, auto, life, personal property), and so do my parents. We've had them for 15+ years, and my policies split off about 7 years ago.
My Claims:
Sometime in 2012 (within 3 years) - Wife and another vehicle back into each other in parking lot, minor damage. SF claims we were at fault.
October 2012 - Comp claim due to road debris. No repairs made or money filed against claim due to next incident.
December 2012 - car was parked on side of neighborhood road and smashed by another driver. $16k worth of damage, $20k total payout by OTHER insurance.
August 2013 - Lightning strikes my house and causes a fire. Contained to attic. About $15k worth of damage/repairs.
October 2013 - Involved in a 4 car accident chain. Not at fault (ruled 100% the last vehicle). My car was a total loss, $30k paid out. I did CALL my insurance and was given a claim number, but they sought all damages from other party. He may have had limited coverage, but that was not confirmed to me.
February 2014 - Struck road debris (something like a alternator or other volleyball sized metal object). Caused a crack/damage transmission casing that requires replacement. Estimate around $3k.
No other claims within my policy (only one other incident and I was not at fault prior to split from parents). I also have no tickets or other citations.
Am I legitimately at risk of being dropped? Will they drop all my policies? Does being dropped have any effect on anything else, ie. credit, rates with other companies, limit other companies, etc?
I have State Farm (home, auto, life, personal property), and so do my parents. We've had them for 15+ years, and my policies split off about 7 years ago.
My Claims:
Sometime in 2012 (within 3 years) - Wife and another vehicle back into each other in parking lot, minor damage. SF claims we were at fault.
October 2012 - Comp claim due to road debris. No repairs made or money filed against claim due to next incident.
December 2012 - car was parked on side of neighborhood road and smashed by another driver. $16k worth of damage, $20k total payout by OTHER insurance.
August 2013 - Lightning strikes my house and causes a fire. Contained to attic. About $15k worth of damage/repairs.
October 2013 - Involved in a 4 car accident chain. Not at fault (ruled 100% the last vehicle). My car was a total loss, $30k paid out. I did CALL my insurance and was given a claim number, but they sought all damages from other party. He may have had limited coverage, but that was not confirmed to me.
February 2014 - Struck road debris (something like a alternator or other volleyball sized metal object). Caused a crack/damage transmission casing that requires replacement. Estimate around $3k.
No other claims within my policy (only one other incident and I was not at fault prior to split from parents). I also have no tickets or other citations.
Am I legitimately at risk of being dropped? Will they drop all my policies? Does being dropped have any effect on anything else, ie. credit, rates with other companies, limit other companies, etc?
3
Posted on 2/18/14 at 11:10 am to LSUtigerME
My in-laws had their homeowners dropped by SF simply because of where they live (Beaumont, TX area)
Posted on 2/18/14 at 11:14 am to Chaplain
quote:
My in-laws had their homeowners dropped by SF simply because of where they live (Beaumont, TX area)
I've gone through about 4 or 5 homeowners policies in the past 8 years.
The house is in Orleans Parish, did not have a claim associated with Hurricane Katrina, nor has it had any claims on it since.
Posted on 2/18/14 at 11:16 am to LSUtigerME
quote:
Am I legitimately at risk of being dropped?
Yes. but even if not they are going to surcharge for those claims for a few years.
What sucks is most of those were just bad luck
Posted on 2/18/14 at 5:16 pm to LSUtigerME
Whether at fault or not, you have established a pattern of being a high risk customer to SF. They may believe you guys are not making good decisions regarding driving/parking the vehicles although the attic fire is out there. Sometimes manageable $ claims are better self insured, especially if the insured has been in multiple payout scenarios to the insurer over a short time span.
Posted on 2/18/14 at 7:50 pm to Mr.Perfect
quote:
Yes. but even if not they are going to surcharge for those claims for a few years.
Since only the one 3 years ago was technically my fault (police did not issue any fault/causation, only SF), will this affect rates at other insurance companies? Even if SF doesn't drop us, I'm considering if it's beneficial to switch my auto policy.
quote:
Whether at fault or not, you have established a pattern of being a high risk customer to SF. They may believe you guys are not making good decisions regarding driving/parking the vehicles although the attic fire is out there. Sometimes manageable $ claims are better self insured, especially if the insured has been in multiple payout scenarios to the insurer over a short time span.
I would think fault plays a major factor here. I understand what you're saying, but I haven't caused SF to payout much at all. All has been covered by the other parties. Drivers in BR are absolutely terrible, and I drive mainly during rush times where traffic is bad.
It's just frustrating because no matter how carefully I drive/live, these were unavoidable. Both road debris incidents were caused by OTHER vehicles ahead of me hitting something in the lane and pushing it into me.
Just to add to this "bad luck", my parents' house was struck by lightning two weeks before mine (no fire), and my dad totaled his truck on the way home from my house the day it was struck.
Posted on 2/18/14 at 8:11 pm to LSUtigerME
They can drop you for whatever reason. Good news is there are more insurance companies willing to insure you.
Posted on 2/18/14 at 8:32 pm to LSUtigerME
quote:
I would think fault plays a major factor here. I understand what you're saying, but I haven't caused SF to payout much at all. All has been covered by the other parties. Drivers in BR are absolutely terrible, and I drive mainly during rush times where traffic is bad.
You're still "high risk" to SF.
Posted on 2/18/14 at 8:55 pm to Golfer
How is your credit score? Insurance companies like to look.
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