The Hidden Costs of Insurance: Who Really Pays the Price?
When disaster strikes, insurance is meant to provide a financial safety net. However, a growing number of consumers are finding that the true costs of insurance extend far beyond their monthly premiums. From hidden policy limitations to the systematic denial of claims, the industry’s practices are leaving many policyholders questioning whether their coverage is as […]
Are Insurance Companies Truly Protecting Their Customers?
In recent years, a troubling trend has emerged in the insurance industry: companies appear more focused on protecting their profits than fulfilling their commitments to customers. From denied claims and unjustified premium hikes to shifting disaster costs onto policyholders, insured individuals are facing mounting challenges. The Premium Game For many, insurance premiums are a significant […]
💰Insurance Co. Shifting Disaster Costs to Homeowners, Taxpayers
When Insurers Don’t Pay, Consumers Do 🚫💸 Insurance companies have been shifting their financial responsibilities for weather disasters like hurricanes, tornadoes, and floods onto consumers and taxpayers. According to the Consumer Federation of America (CFA), this growing trend leaves individuals paying the price when insurers fail to step up. The Study: The Disappearing Weather Catastrophe […]
Top Five Insurance Complaints
by National Association of Insurance Commissioners (NAIC) WASHINGTON, D.C. – According to data released by the National Association of Insurance Commissioners (NAIC), the top three reasons consumers filed formal complaints against their insurance companies were delays, denials of claims and unsatisfactory settlement offers. Premium/insurance rating and policy cancellation issues completed the top five. The NAIC […]
Need to File a Health Insurance Complaint
If you believe that your health insurance company or agent has acted illegally or improperly, here is a process to file a complaint: Maintain detailed records of all communications, including conversations and written correspondence. Save any payments, policy agreements, and supporting documents. Contact the customer service department of your health insurance company to explain your […]
Progressive Settles Rate Quote Complaint
by ConsumerAffairs.com Progressive Insurance saturates the airwaves with its commercials for vehicle coverage, promising lower rates by comparing coverage offered by other companies. But Massachusetts Attorney General Martha Coakley charges those quotes weren’t always accurate. Coakley says that Ohio-based Progressive Direct Insurance Company has agreed to resolve allegations that the insurer provided consumers with inaccurate […]
Liberty Mutual Insurance customers beware!
Bob D’Amore, President of D’Amore Adjusters, highlights that many Liberty Mutual homeowner policies now include a restrictive endorsement limiting recovery to a maximum of $2,500 for personal property such as trading cards, comic books, figurines, and other collectibles. This endorsement supersedes the policy’s standard language, including even “deluxe” policies. D’Amore recommends checking your policy for […]
Sen. Schumer Warns Insurance Companies Against �Playing Games� With Sandy Victims
by CBS New york NEW YORK (CBSNewYork) � Sen. Charles Schumer has issued a warning to insurance companies who may try to take advantage of people whose homes were badly damaged or destroyed in superstorm Sandy. �Today, we�ve sent a letter to NOAA [National Oceanic and Atmospheric Administration], the weather agency, as well as to […]
Insurance complaints growing in Sandy-battered N.J.
by Bob Jordan, The Asbury Park (N.J.) Press 10:46AM EST November 27. 2012 – TRENTON, N.J. — Hurricane Sandy has created a superstorm of insurance complaints, as consumers hound state regulators to combat slow action by insurers or for help on other claim matters. The state Department of Banking and Insurance has fielded 481 Sandy-related […]
Home owners ‘used’ by insurance company
The home owned by Sheila and Dominic Traina in New Dorp Beach, Staten Island was destroyed by the superstorm in late October. A large pile of rubble is all that remains. “The next morning I was in shock. It was terrible,” said Dominic Traina after seeing the commerical. The couple says Allstate Insurance Company offered […]