Will our home insurance protect us when we need it?
 

How can we be confident our home insurance will protect us in Florida? :mad:
https://wapo.st/3q9GlnD

You’re doomed…suggest u move back north

Don't buy from a small company, buy from the largest company you can find. The smaller companies doesn't have the depth of resources and don't buy enough re-insurance as that would eliminate their profits. .

I would highly recommend your insurance covers the roof. If lightening or a hurricane damages your roof then destroys more of your home, Sorry! not covered would be their response. Talk about those ramifications with your agent before buying the policy. Insist he/she puts it in writing if they say you are covered without roof insurance. My agent told me if the damage was caused initially with the roof any other damage would not be covered. Always ask questions before buying.

Facts and circumstances are different for each claim. Company reputation and capitalization can matter. Never had an issue with State Farm

Good to hear

Have you ever had major damage to your home from lightening hurricanes, wind, or others? Just asking because I will get a policy from them. Some insurance companies argue the cause of damage instead of just paying the claim.

It starts will the inspector and if he doesn't approve you can sue like so many roofing companies do for customers.

Allegedly insurance companies don't like to fight lawsuits hence why they cave to the roofing companies.

So instead of fighting the lawsuits they just pass the losses down to policyholders.

Great system we have.

Like any insurance, you can pay premiums for years, file one claim
and get rejected.

The key here is be so wealthy that you can be self-insured.

A claim over 200,000 was paid promptly without hassle.

My insurance co. in Wisconsin I had for 38 years refuse to pay out anything after my sump pump stopped running and
flooding our basement 7 years ago with 3 feet of water.

They claim they sent all policy holders a notice to get a "rider" added on our policy for sump pumps but
we never seen one.

We lost around $30,000 to replace the furnace, freezer, hot water heater, and a lot of personal belongings.

So much for having insurance

I was in the business and would question what your agent said. Almost all homeowners policies are known as all risk coverage. They provide coverage for everything except certain situations like war, wear and tear etc. If wind damages a roof or if something hits the roof the roof is covered and the damages inside are covered. Do not know of any policy which would not provide coverage for something like a roof. Policies will not pay for a roof if it wears out.

Feel lucky to have a major nationwide highly capitalized company. Most Floridians would love to have a policy with State Farm or another similar companies.

From your information appears there was a flood and the sump pump did not work properly. If this is correct, you would have been paid if you had flood insurance. Sump pump failure was not the cause of the loss.

Unfortunately I have to agree. They have no problem cashing those premium checks but hedge when it comes to any payout after large deductible

Wouldn’t have to sue the insurance companies if they didn’t require the replacement of a 30 year roof when it was 15 years old. Insurance companies shot themselves in the foot.

Is this a political reference?

Not according to my insurance Co.
I had to have a special rider for sump pump coverage, but I didn't.

I'm almost certain that you are correct. I've never been an insurance agent, but I've read my policies pretty closely and talked with insurance agents.

It doesn't make any sense to think that if your roof got destroyed by a covered event such as fire, windstorm, or the like that the rest of the damage to the interior would NOT be covered by insurance. Someone just didn't understand what they were being told.

It can't be... They are not allowed... People have been given timeout in the "Penalty Box" for simply mentioning a certain Governor from a certain state up north... Ask me how I know...

Exactly. I guess if all residential units in the state of FL got new roofs, there would be less damage to them in the next storm, but for most it would be a waste of money. And roofs aren't cheap.

If the ins. Companies want everyone to have a new roof, let them pay for it.

New agent
 

Not all State Farm agents or any other insurance companies agent are competent and professional. A good agent would have notified you and called you to come into his office to discuss such a major change. I would get a new agent. We have State Farm up north on our place with a basement and sump pump. We have a rider on our policy. The rider wasn’t expensive.

An insurance policy is a contract between you and the insurance company. It will do no more or less than what is in the policy. That goes for any policy in any State including Florida.