Insurance policy renewal rant
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  1. #1
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    Default Insurance policy renewal rant

    My business insurance company is pretty good, they stay pretty quiet and don't make many demands.
    Of course, I've never filed any claims with them, so........I guess I'm on their buddy list unless that changes some day.

    But.......this just seems too good to not share.

    Policy renewal time, here's the email I got the other day:


    Dear Mr. XX


    Attached is the 2019-2020 Business Owners Renewal Policy. If you see anything that appears to be out of place or incorrect please let us know in the next few days so that we can quickly make any needed adjustments or corrections.

    It is a good idea to review your coverage limits. The policy also lists exclusions that would impact the amount of applicable coverage. If you have questions, just ask. We are here to help you and we know that Insurance in general can be frustrating to deal with. Rest assured that we speak “insurance” and are glad to assist you with questions.

    On that subject, if you have questions or wish to adjust your coverage, you can call or email XX XX, your Account Manager. Her contact information is shown below. She can also assist if you need to make a claim.



    OK, so......attached is the new policy in PDF. I opened it, and it's 157 pages. Last years policy is about the same.
    My question is, are they fucking serious? Review the new policy AND the old policy, go fucking fishing for changes, and let them know IN A FEW DAYS about any needed adjustments or corrections?

    After I patched the holes I punched in the sheet rock.....
    Here's what I sent back:


    Please highlight any changes in the new policy that differ from last years policy.

    As a busy small business owner I assure you it will be impossible for me to read thru One Hundred and Fifty Seven pages of insurance policy in 'the next few days", and compare differences with last years policy which is a similar page count.

    I will await the highlighted changes to review.



    Thanks

    xxx x


    I'll let you know what I hear back......

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  3. #2
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    Acrobat has a Compare Files tool, which will do what you're looking for. Or there are lots of other Diff utilities out there, some online, most free.

    It's galling on their part, but you can handle it if you want to.

  4. #3
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    Quote Originally Posted by Comatose View Post
    Acrobat has a Compare Files tool, which will do what you're looking for. Or there are lots of other Diff utilities out there, some online, most free.

    It's galling on their part, but you can handle it if you want to.
    Good to know, I'll pass your info along. THEY can do that and send me the 1-2 page "changes" email.
    Since that's what I pay them to do.

  5. #4
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    I had the same thing this year, they used to mail a policy package, and it only had maybe 10-12 pages. This year due to stamps cutting into profits I guess they got into emailing it, 150 some pages indeed. Then I had to print off the ones they need signed and sent back.
    Every year prices got up and more exclusions get added.

  6. #5
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    A friend had a business in a high risk industry, where the rates just kept going up. Finally, I suppose it was to say "we don't want to do it anymore" they said they were required to send their federal tax returns to the insurance company, and the insurance company would use that to charge them a percentage of their sales, in addition to the yearly premium. My friend shut down the business. Better make sure their isn't anything like that buried in the book they sent you!

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  8. #6
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    Quote Originally Posted by SND View Post
    Every year prices got up and more exclusions get added.
    Yes. It's like they keep cutting value and coverage, and watching to see when they'll finally get a complaint from the customer.
    Charging more and more, while providing less and less. It's another stage in their profit scheme. Just like when they now find any excuse to not pay a claim. You forgot to sign this page of your policy and send it in, or forgot to cross this T on page 48.......CLAIM DENIED! Please feel free to hire an attorney and fight us in court......haha.....good luck with that! And by the way.....your increased Premium payment is DUE!
    Six 6 months later.......sorry we're cancelling your policy, you've had a claim we successfully denied. You're been determined to be a bad risk and a lower profit potential client. Thanks for all those premium payments over the last several years, and best of luck to you!
    Dirty bastards....

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  10. #7
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    they passed a State law where insurance for house could not be denied just cause its in a poorer neighborhood that called red lining
    .
    but then insurance company sends a letter our insurance inspector says your roof needs repairs. repair it in 90 days or your policy is canceled. had roof where when i looked at it once a year anything maybe need some small roofing tar in spots i applied some roofing tar. insurance company then says roofing tar is unacceptable. repair or replace roof in 90 days. seeing how tare off and roof redo is like $15,000 for a roof that doesnt leak many refuse and loose insurance coverage.
    ,
    they cant deny insurance coverage but they can demand "repairs" even when owner might feel repairs are totally unnecessary.


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