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DarkDrifter
LSU Fan
Louisiana
Member since Aug 2011
1352 posts
 Online 

re: State Farm paying housing expense for evacuations
quote:

SF doesn’t do that. Used to have a non-cat loss ratio metric but that’s a thing of the past.




Well thats the captive agency world..

The independent carriers like to keep up profitability and if you have agents writing bad/unprofitable business then you cut that agent loose.. Sometimes the agent can't help it, but shite happens and business is business..
This post was edited on 9/14 at 11:46 pm


DCtiger1
LSU Fan
Panama City Beach
Member since Jul 2009
5668 posts

re: State Farm paying housing expense for evacuations
To each their own…. Not worth clamoring about captive vs non captive

Some of those same indy/clearinghouse companies went insolvent in FL this year. Shitshow
This post was edited on 9/14 at 11:51 pm


DarkDrifter
LSU Fan
Louisiana
Member since Aug 2011
1352 posts
 Online 

re: State Farm paying housing expense for evacuations
Not being argumentative, was just pointing out the differences..and having been both SF and Indy I have some perspective on the matter..


quote:

Some of those same indy/clearinghouse companies went insolvent in FL this year. Shitshow


Oh I know.. That happens and its why I always questioned new companies to the market offering rates to good to be true.. B/c sometimes that shite bites them in the ass.. And its not a good look for agents when it does happen.

I do understand why they do it and its to gain market share rapidly to build a hopefully profitable book. All while hoping that they dont get wiped out by a string of cat losses and then eventually selling out to a larger insurer in a crazy cycle thats been happening a while now... But I digress
This post was edited on 9/15 at 12:09 am


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Havoc
LSU Fan
Member since Nov 2015
14048 posts

re: State Farm paying housing expense for evacuations
quote:

State Farm paying housing expense for evacuations

Topic: “IS State Farm paying housing expense for evacuations“


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Havoc
LSU Fan
Member since Nov 2015
14048 posts

re: State Farm paying housing expense for evacuations
quote:

The power being out doesn’t mean it’s uninhabitable

Said no one that lived in a house without any power for a week in late summer Louisiana.


Havoc
LSU Fan
Member since Nov 2015
14048 posts

re: State Farm paying housing expense for evacuations
Are you quoting the policy correctly because appears that you’re saying that a loss is covered but then that it is excluded.
Are you an Insurance company shill?


DCtiger1
LSU Fan
Panama City Beach
Member since Jul 2009
5668 posts

re: State Farm paying housing expense for evacuations
quote:

Said no one that lived in a house without any power for a week in late summer Louisiana.


That may be true, but that’s not what matters when it comes to a homeowners policy. Loss of power, unless it happens on your property only, is not a covered loss.


Havoc
LSU Fan
Member since Nov 2015
14048 posts

re: State Farm paying housing expense for evacuations
quote:

Other companies are doing it, but I still for the life of me can't see how he can levy a fine against SF if it is not defined that way in a policy.

It makes sense because imagine the potential collusion between an insurer like State Farm and a local government entity like Latoya to refuse to declare a mandatory evacuation.

SF stands to save hundreds of millions, insureds are fricked. Nah no chance of frickery there.


DCtiger1
LSU Fan
Panama City Beach
Member since Jul 2009
5668 posts

re: State Farm paying housing expense for evacuations
quote:

State Farm and a local government entity like Latoya to refuse to declare a mandatory evacuation.


Wow, take that dumb shite to the politics board.


Havoc
LSU Fan
Member since Nov 2015
14048 posts

re: State Farm paying housing expense for evacuations
quote:

That may be true, but that’s not what matters when it comes to a homeowners policy. Loss of power, unless it happens on your property only, is not a covered loss.


Well my policy doesn’t say that, so


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Havoc
LSU Fan
Member since Nov 2015
14048 posts

re: State Farm paying housing expense for evacuations
quote:

quote:
State Farm and a local government entity like Latoya to refuse to declare a mandatory evacuation.


Wow, take that dumb shite to the politics board.

Because a politician and a company would never conspire over a hundred million dollar+ interest that could somewhat easily be covered by discretionary judgment call.
You are fricking stupid. Like, really fricking stupid.


Paul Allen
California Fan
Montauk, NY
Member since Nov 2007
69381 posts

re: State Farm paying housing expense for evacuations
quote:

Havoc


Dude. Don’t be a jerk, bro.


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DCtiger1
LSU Fan
Panama City Beach
Member since Jul 2009
5668 posts

re: State Farm paying housing expense for evacuations
quote:

You are fricking stupid. Like, really fricking stupid.


Says the idiot that thinks an insurance company colluded with the local governments to prevent mandatory evacuations in order to prevent loss of use being paid out for a day or so? You’re so fricking delusional it’s not even worth peeling back all the layers of idiocracy.


DCtiger1
LSU Fan
Panama City Beach
Member since Jul 2009
5668 posts

re: State Farm paying housing expense for evacuations
quote:

Well my policy doesn’t say that, so


Share your policy language with us. Before you do, understand that all insurance companies use the standard ISO HO-3 form for their policy language in LA which is approved by the insurance commissioner.


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11
Havoc
LSU Fan
Member since Nov 2015
14048 posts

re: State Farm paying housing expense for evacuations
First off, I said “potential” and “chance of” regarding it. So your attempt to rephrase the issue as me stating for certain fails utterly.

Further, to so easily dismiss even the chance of it happening given the hundreds of millions of dollars at stake, how easily it could be excused away, and the history of LA politics and corruption would pretty much make you along the stupidest or most naive persons on the planet.

You’re easy. Very obviously a shill.


Success
Member since Sep 2015
1301 posts

re: State Farm paying housing expense for evacuations
Would they rather pay for gas for my generator to power my kids medical equipment or pay for a hotel room this whole time since I still don’t have power? I’m getting something for loss of use. I’m saving them money at this point running a generator


BamaCoaster
LSU Fan
God's Gulf
Member since Apr 2016
3462 posts

re: State Farm paying housing expense for evacuations
quote:

But for the most part once a decision is made you're not changing the companies mind.


You, as an agency owner, can do a lot BEFORE the decision is made.
We have an in-house claims specialist that she and I assisted on over 800 claims from Sally in past year. Still a dozen left, but we’ve recouped nearly $11mil for our clients.
During claims, it’s your (an agent’s) time to shine and step up, not say, “well, contract is with you and carrier. Hands are tied.”



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Tiger Prawn
Member since Dec 2016
18615 posts

re: State Farm paying housing expense for evacuations
quote:

because appears that you’re saying that a loss is covered but then that it is excluded.
Where did I say that?

I quoted the part about loss of use being applying IF there’s damage from a covered peril under section 1 (property coverage portion of policy) that renders the home uninhabitable. Then quoted the part that shows power failure is excluded because OP thought he should be getting paid for loss of use because he still doesn’t have power

It doesn’t affect me either way if he gets paid for loss of use or not. I’m just pointing out the kind of policy language carriers will use to deny loss of use based on just lack of power and not substantial damage. If you want to call me a shill because I work in the industry and know what I’m talking about, go ahead. What year did you get your insurance license?


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LSU Jax
USA Fan
Gator Country Hell
Member since Sep 2006
6942 posts

re: State Farm paying housing expense for evacuations
quote:

Would they rather pay for gas for my generator to power my kids medical equipment or pay for a hotel room this whole time since I still don’t have power?

This should qualify you for ALE. Did you make this fact known to them?


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