Homeowners Insurance Industry Roasted By PBS, Bloomberg

RE:Homeowners Insurance Industry Roasted By PBS, Bloomberg

Anonymous — Fri, 24 Aug 2007 11:00:00 GMT

Before a disaster in our area, I thought they paid small claims with no problem as well. Then I got very familiar with insurance & realized it isn't so. People get screwed & dont know it. Most agents dont know, theyre in sales not claims.I also don't think this is isolated. After a large disaster in our area we started neighborhood insurance group. All were getting screwed & didnt realize until we started educating ourselves. Ins co's say "most are happy" & are right because people dont know.

RE:Homeowners Insurance Industry Roasted By PBS, Bloomberg

James Matthews — Thu, 23 Aug 2007 11:00:00 GMT

Perhaps you should read "Whats Wrong With Your Life Insurance" by Norman Dacey and discover just how wicked the insurance industry is. They are wicked whitewashed tombs filled with dry bones and rotting flesh. The bottom line is not the consumer...but profits. Doesn't matter if its Life Insurance, Health Insurance, Auto Insurance or Homeowners Insurance. Never trust and ALWAYS verify.

RE:Homeowners Insurance Industry Roasted By PBS, Bloomberg

Lance William Radebaugh — Wed, 22 Aug 2007 11:00:00 GMT

This does not surprise me at all that State Farm and Allstate would take advantage of good hardworking American families in in times of tragic loss. Big insurance is BIG- business and they can say that they are " like a good neighbor " or "your in good hands with us" but in reality, they should say "When you lose we win! Americans are forced into having insurance by the government , its too bad the government doesn't step in and make these giants of industry pay!

RE:Homeowners Insurance Industry Roasted By PBS, Bloomberg

Orlando — Wed, 22 Aug 2007 11:00:00 GMT

I believe that PBS and Bloomberg did and extraordinary job in this piece of journalism. As a professional real estate agent I will advise my clients to look for a respectable insurance company that will pay them full replacement costs in case of an catastrophic event. I also will refer them to OPB's "Home Insurance 911" so they can judge for themselves about the practices of some compamies like State Farm and Allstate.

RE:Homeowners Insurance Industry Roasted By PBS, Bloomberg

educated — Wed, 22 Aug 2007 11:00:00 GMT

I think the image of the insurance industry in the bloomberg report takes several severe isolated incidences to build a negative overall picture. But what about all the small claims these carriers pay out every single day? Do those show no merit to the image of insurance providers? I was just disappointed in general with the lack of supporting evidence, reports and "one-sidedness" of the whole report. Poor journalism at its best...

RE:Homeowners Insurance Industry Roasted By PBS, Bloomberg

educated — Wed, 22 Aug 2007 11:00:00 GMT

I don't think people fully understand how insurance works. Most simply pay for it and think they are covered for everything under the sun. I too was one of those people, but then I educated myself and actually read every single line of my policies. Then my insurance carrier addressed all of my questions. The consumer must also take responsibility for issues where they are not covered. Signing a policy is signing a contract, why wouldn't you read it and understand it before you sign it?

RE:Homeowners Insurance Industry Roasted By PBS, Bloomberg

econ101 — Wed, 22 Aug 2007 11:00:00 GMT

I do not work for State Farm but I study business. Please read Farmer from Merna as the Sage from Omaha, Warren Buffett, a State Farm competitor suggests. The second paragraph here is a complete misrepresentation. State Farm is a mutual company, they do not have a listed stock. Mutual companies are owned by their policyholders and to "shortchange" them would be the equivelant of a stock company sending some shareholders one amount after a profitable year and others a different amount.

RE:Homeowners Insurance Industry Roasted By PBS, Bloomberg

Mike Fernandez — Tue, 21 Aug 2007 11:00:00 GMT

State Farm is extremely disappointed with PBS, and "Home Insurance 911." As the nation's leading personal lines insurer, we are committed to serving the needs of our millions of customers fairly, promptly and efficiently. We invite readers to read http://www.statefarm.com/about/media/bloomberg_response.asp to Bloomberg and PBS.

Mike Fernandez
Vice President - Public Affairs
State Farm Insurance