Friday, January 23, 2009

Fallout From the Fire

The other shoe has finally dropped.

I did know that my house insurance was likely to go up as a result of the garage fire. I even knew that my carrier might drop me altogether, though I hoped not. My experience with the insurance company, which also carries my auto insurance, was, up to now, entirely positive. They handled my claim quickly and satisfactorily.

Apparently, they were NOT so pleased by MY performance.

Not only did they cancel the policy on my home, they have also notified me that they are not going to renew my auto policy.

Say what? How does the fact that I had a garage fire (where my car was NOT parked!) make me a bad risk for auto insurance?

I am fighting the company with regard to the auto insurance. But my broker says there is nothing to be done about the cancellation of my home coverage. So it looks like I'll be paying exactly twice as much in 2009 ($1015 as opposed to $570--OK, not exactly half--math was never my strong suit!) to keep my house insured.

I'm hoping to retain the auto coverage because it will virtually double as well if I have to go elsewhere.

10 comments:

Morrison said...

If you combine your home & auto insurance with another company, you will get a discount. Personally, seeing how the insurance company treated you, I wouldn't keep my car with them. I wouldn't trust them.

Same thing happened to me. I had my car insured with Allstate for over 17 years with NEVER a claim. My car got stolen, then recovered but was totaled. Allstate paid BUT quickly dropped me as a customer. Been happy with State Farm ever since.

Go get thee another insurance company. Quickly. Because, if I read you correctly, your home is not covered as of right now????

Mr. GoTo said...

Unfortunately this is all too common with some carriers. They love your premiums until....

Try Geico - they have been very loyal to us, despite several claims made over the years.

Anonymous said...

I don't know where you live, but here in CT, i pay $825 a year now for homeowners and i've never had a claim in 13 years. My car insurance is with the same company.

Grace. said...

Morrison--my house is covered by the original insurance company until mid-February, but after that, they've notified me that they will not provide coverage. My broker has found me a new carrier but at almost twice the price.

Kemkem said...

Wow! That totally sucks! How about AAA? I have my auto coverage with them and they have the lowest prices. I hate insurance carriers. It's legalized mafia. What other industry do you pay money to for the sole purpose of NOT using them?

JW said...

I am very sorry to hear this. Maybe another insurance company will be better. Good Luck.

Sharon said...

Grace,
That makes me so mad...they have no problem taking your money when nothing goes wrong...
I use Geico too. They have been pretty good, although I have yet to file a big claim. Nevertheless, get a bunch of quotes.

DogAteMyFinances said...

You need more than two quotes. If that's all your broker can get you, you need a new broker!

Anonymous said...

Insurance companies - ugh, hate 'em!

Ask everyone you know who they use. I found a great rate that way. I recently called for a quote an insur. co. that I was with a few years back and dropped b/c of continuos rate hikes, and surprise! they're now back being the least expensive option for me.

Good luck with your search. Let us know what you find out.
A.M.B.A.

Living Almost Large said...

Been there, done that. Go try out other companies. I love AAA when I lived in CA.

The price will be higher even if you shop around because all other companies will hesitate to insure you. At least when we had a water claim.