State Farm seeks big rate hike

[steve2470]

http://www.miami.com/mld/miamiherald/12412183.htm

BY BEATRICE E. GARCIA

[e-mail]



South Florida homeowners are getting battered.

State Farm, the state's largest home insurer, on Wednesday filed for an average 8.6 percent rate increase on its homeowner and condo policies statewide. But because of higher construction costs and greater numbers of nonhurricane claims, the company said some areas of Miami-Dade and Broward may face increases of well over 30 percent.

State Farm's latest rate request is not related to hurricane damage, but it would be the second hike since last year's storms. State Farm has 925,000 policies in force in Florida, covering one out of every five homes in the state.

The filing came on the same day Citizens Property Insurance, the state-run pool, approved an assessment to cover its $516 million shortfall. All insured homeowners in the state will have to pay a one-time charge of 6.8 percent, meaning someone with a $3,000 insurance bill would have to pay an extra $204.

The prospect of being hit with a rate increase and the Citizens assessment at the same time certainly didn't make Barbara Maddox's day.

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[CountAllVotes]

1. to everyone with State Farm

Dump these bastards! Years ago my car was parked legally on the street while I was at work and some old fool hit it and wrecked it doing thousands of dollars worth of damage. There were eye witnesses and State Farm, the man's insurance company, would not pay to have my car fixed and I had to file suit to get my money for the repairs that I paid for to get the car running again which took almost 3 years to recover!

After this incident, I have never cared to nor considered to do business with State Farm Ins. again.

They are crooks!

:kick:

[Benhurst]

2. I had a very similar experience with another national insurance

company. They are all crooks!

[CountAllVotes]

3. Luckily I don't know

This incident occurred in 1978 and I have not had to file a claim nor had an accident since. However, I have insurance for my car with another company that I've had for over 15 years now. At the time I had AAA and they wouldn't do anything to help me being I did not have collison on my car at that time.

I have homeowners insurance with AAA now. I dread the thought of needing to file a claim for anything with any of these rip-off companies. I hope they ALL GO BANKRUPT!

:kick:

[Dr.Phool]

4. I got nailed with a big increase from State Farm this year

In Florida. A couple of weeks ago, I had a major water damage claim on a house in Ohio. Also State Farm. They started jerking me around, so I told them, I'm just turning it over to a public adjuster, and heading back to Florida.

They weren't happy. But, WTF, I've had them for insurance on that house for 16 years, and no claims.

[Justyce]

5. State Farm sucks. After being a

customer for about 10 years & never filing a claim, I found that a pipe had burst (leaking, not full blast) in the wall of the kitchen & leaked water down the wall & under the floor (house on piers). It damaged the lower wall & that part of the floor. When I filed a claim to fix the damage, the denied it saying that apparently my house must've been underwater for long periods of time -- so basically my house was under about 4 feet of water, on just that one corner, for a long time & I never even knew it...... geez, I'm not even in a flood plane & it's never flooded here & the water has never been close to touching the house... bastards. I switched companies but have no faith in any of them -- you pay and pay for insurance for years, and all they have to do is just say "nope, not gonna fix it" and there's not much you can do.

Their slogan, "Like a good neighbor..." makes my blood boil. With neighbors like that....