| Gatorfan1 |
09-16-2024 08:51 PM |
States
Quote:
Originally Posted by Blueblaze
(Post 2370755)
I wouldn't buy insurance from Allstate if it was free. When they pulled out of Texas, they showed up at the CLOSING of my last house to inform me that they wouldn't be insuring the house they'd already signed onto. They brought some no-name outfit to take over. This was on a house 80 miles from the coast that had survived THREE cat-5 hurricanes in the past 10 years with NO DAMAGE. And this was a customer who had given Allstate ALL his insurance business for over 40 years, with only one claim -- from a TORNADO in TULSA.
Every state
If the idiots would just look at their own data, they would discover that all of that catastrophic damage they are running from occurs within 10 miles of the coast. A Cat 5 is a Cat 1 by the time is crosses 80 miles of land. They might also discover that a guy bright enough to pay his bills on time for 40 years doesn't buy a house that has to be rebuilt every decade. They might discover that they could make a killing if they'd quit insuring deadbeats and idiots on the beach, and quit selling full replacement cost insurance to the rest for the only part of a house exposed to a simple hail storm.
There is plenty of stupidity to go around in this stupid Florida insurance crises, but most of it can be laid at the door of intensely stupid insurance companies like Allstate.
|
Every state has their own laws that govern insurance in their state. Also, each company pays claims and all other cost with the premiums they collect in their state. Of 100% of lawsuits in US, 70% are filed in Florida. |
