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In Reply to: State Farm Customers be VERY AWARE!!!! posted by John on May 27, 2001 at 17:45:50:
State Farm has just cancelled my insurance because they said I needed a new Roof. I just refinanced my home 4 months ago and the mortgage company and appraisal firm thought the roof was fine. Even the last roofer who looked at the roof said it wouldn’t leak in its present state! State Farm claims they told me this a year ago (the local office had no records of this). I have only had one claim over 7 years ago and have no other problems.
The problem is State Farm has been loosing money on home owner’s policies and is trying to get out of the Home insurance end. An agent told me not to report anything unless it was major in order not to flag my policy. It is obvious the slogan "like a good neighbor...." is just lip service. They claim they will re-instate if I get a new roof but I wonder at what rates!!
I have not heard of anyone else who has this “Gestapo” looking over their shoulder. If state Farm has money problems why do they pay people to go after persons who are not filing claims against them?
This is a company to avoid. (This is after over 25 years with them!!!)
: State Farm has assumed a huge loss in the home owner insurance business in the last year. I am a victim of their latest policies concerning claims. If you have a loss (God forbid a waterloss) State Farm will review your policy and flag it. Your ok if you don't ever need to change your coverage or have another policy written. If you do however, your policy will likely not be renewed and/or you will not be able to have another policy written. Other insurance companies have taken losses and are not taking this extreme of measures. Note also that State Farm is about the most expensive insurance out there. I will say, to their credit, State Farm does respond fairly and quickly to claims. Just don't have any!