Sandy insurance complaints growing in NJ
Sandy has created a superstorm of insurance complaints. Consumers are hounding state insurance regulators to combat slow action by insurers or for help on other claim matters.
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#1 Dec 5, 2012
This is a video I produce after writing a song to embarrass Allstate into becoming the company they pretend to be. It is "Allstate: Where Are Those Good Hands?" Here is the link:
#2 Jan 3, 2013
The problem with beach front communities in particular is that there are many rental properties and renters.
The property OWNER has to file claims for structual damage. The renter without renters insurance is out of luck in most cases for their contents. If a non Hurricane storm caused a roof leak the landlord might have to pay or would pay to make things right. But with a hurricane and landlords with multiple properties they aren't going to pay squat.
Another problem is the second vacation home. Even many private insurance companies won't cover claims on a home that is not used as the policy holders primary resident unless it's specified in their policy.
Also most insurance policies are LOADED with exclusions. Besides not being verbally informed of them by the insurance company agent many policy holders don't read their policy in detail. Most buy insurance for a sense of security if it is not required. If it's required insurance most buy based on price and not coverage.
This is why you must READ your policy. If everyone read their policy in detail many insurance companies would reduce the size and number of exclusions just to get enough customers to finish reading them and buy the insurance.
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