since state farm is refusing to pay out to katrina victims and now pulling out of the state of mississippi altogether in order to avoid paying any more claims...should state farm be boycotted by the american public..??? isnt this exactly the reason we pay insurance premiums that are usually too high...??? this is a risk business, and as far as i am concerned, they got the short end of the stick this time, their gamble didnt pay off...so now they are trying to stick it to the small guy again...dont let your politicians give this company an out....
2007-02-14 04:53:36 · 15 answers · asked by badjanssen 5 in Politics & Government ➔ Other - Politics & Government
That's Allstates Stand.
2007-02-14 04:56:58 · answer #1 · answered by Anonymous · 1⤊ 0⤋
No they should not be. There are several hundred lawsuits pending with State Farm. The people who are sueing are doing so because they are not getting the full amount they feel they should have.
Second, and most important, ALL insurance companies hold the option of RED LINING districts. They also do this with auto insurance as well. They have the right to refuse and maintain that right, by law when claims are in excess of the coverage.
In the case of Katrina...New Orleans is 600 Feet BELOW sea level. Anyone who would want to live there doesn't know the real facts about how erosion can destroy their homes and surrounding lands.
It is the priority to the insurance company to 'move on' when there are too many reasons for claim. That is their option. People ARE getting rediculous about making claims anyway. I know Katrina victims are in a rough spot, and it must be hell to try and put ones life back together when all they have are scraps to work with. I can't imagine going through that and then trying to pick up the pieces and move on. And I do feel it is only right and fair that the insurance companies pay the claims, IF in fact the customer was paying for that particular coverage. If they were not paying for the coverage, then they have no claim and must be staisfied with what the insurance company will give them.
But the bottom line is ALL insurance companies have the free option to pull out of an area. But if the people of New Orleans were smart, they would sell the property, tear down the house and move upstate and away from the ocean front.
2007-02-14 05:13:38 · answer #2 · answered by chole_24 5 · 1⤊ 1⤋
I recall they pulled out of New Jersey a few years ago as well. Too many cars in such a little state. They are back now and looking for people to join. I understand Business and when the risk is too high you get out. But then Some People do have memories, Sorry I will not get in those hands again.
2007-02-14 05:12:29 · answer #3 · answered by Anonymous · 1⤊ 1⤋
well you can boycott state farm if you would like but good luck with other insurance companies. coming from the point of view of a body shop employee and close friends with home damage adjusters, state farm is one of the most affordable and easiest companies when it comes to dealing with them. unlike other insurance companies (such as GEICO, Allstate, Liberty Mutual, etc) they are very quick in response times and every state farm customer has been satisfied and if a problem comes up SF is very quick to deal with it. customers i have seen with any other company other than state farm or country insurance has seem to have a lot more problems in dealing with the people from the company and in receiving proper reimbusement for insured damages. so boycott if you will but you could possibly regret it later on...
2007-02-14 05:06:59 · answer #4 · answered by Karen M 1 · 2⤊ 0⤋
We also have State Farm and are looking to drop them after watching CNN and what the victims of Katrina are having to go through to collect. We feel as if we are throwing our money away now after the Katrina fiasco. I cannot believe they are getting away with not paying the policy holders. They are also dropping the policy holders in Galveston, Texas.
To the person who lives in tornado alley, you just wait if something happens in your neck of the woods. If a tornado blows it away, they will say the rain destroyed it. You wait if there are numerous tornadoes this year, and then they don't want to pay you.
I have a problem with them taking the money then bailing out.
If they do not want to pay the policy holders in an area they consider red lined, then they shouldn't offer the insurance then not pay after something happens.
2007-02-14 04:58:28 · answer #5 · answered by Sparkles 7 · 1⤊ 1⤋
No. Pulling out of Mississippi is how State Farm will avoid having to raise premiums for the rest of us. They have to avoid areas where claims are too high. Hurricane prone regions are the worst.
However, they do have to live up to their contractual obligations for policies already written. But you can't force someone to do business with you in the future.
2007-02-14 04:58:14 · answer #6 · answered by Lisa A 7 · 2⤊ 1⤋
Yes Boycott them also New Orleans (Chocolate Town) needs Boycotting for their Racist do nothing Mayor
Add Bank of America to your Boycott list for giving credit cards to Illegal Alien Invaders
2007-02-14 05:41:00 · answer #7 · answered by ? 3 · 3⤊ 0⤋
If I was an insurance company, and knew the government was going to provide billions of dollars of relief for natural disasters, I'd bail too. Think about it.
2007-02-14 05:10:12 · answer #8 · answered by Matt 5 · 2⤊ 0⤋
Cupcake
2016-05-23 22:30:20 · answer #9 · answered by Anonymous · 0⤊ 0⤋
No, I won't.
I love state farm. I love the fact that they are running it as a business and trying to keep my insurance costs down.
My premiums were NEVER "too high"...ever...until Hurricane Andrew hit, and they've gone up every natural disaster since.
Live by the sword, die by the sword.
And yeah, I live in a "Tornado Alley" so dont give me grief about natural disasters, either.
2007-02-14 04:58:06 · answer #10 · answered by Munya Says: DUH! 7 · 2⤊ 3⤋