Friday, August 22, 2008

Do the math (part 2)

If you remember our insurance story from last month you'll find this really funny. When we originally looked in to insurance for the new home we requested a $500 deductible and were basically told they don't do that any more (leading me to believe it wasn't an option - STUPID TAX). So, after we found out our deductible wasn't how it was explained and that the $500 was an option, we requested the change.

Earlier this week we got a letter in the mail from State Farm. It said,
"We are declining your request for a $500 deductible. This is due to your overall loss history. Your deductible will remain at 1%."

We have only made 1 claim. When we talked to the agent and inspector, they both said there was no risk in filing a claim because it was considered a catastrophe. Apparently, they don't know their own policies because we have now found out that it is "standard practice" that you cannot change your deductible after you have filed a claim. "This is not negotiable" Yes, that's what they told me. This makes no sense to me since we paid the $1750 deductible. They weren't out any thing other than monies for part of the damages, which is why we have insurance... right!?!

Needless to say, this letter pissed me off. Tim hopped on the Internet and phone right away and started shopping around. We had previously had Geico for car, but switched to State Farm for the multi-line discount. In talking to them, Tim found out that not only could we get the $500 deductible we originally wanted for the house but it was also going to be cheaper. We're now saving $100 a year on home insurance and $160 a year on car insurance.

BYE BYE, STATE FARM!!! Thank you for screwing us over. You just saved us $260 per year!!!

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