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Question: Am i screwed? two years ago i was approached by my auto insurance company.?

(Posted by: Chris G on 2010-02-25 04:18:19)

I was told that if I added my home owners insurance to their company that I would save a bundle on both the auto and the homeowner policy. At the time, I had the same homeowner company for over 25 years and was happy with my policy but they looked at the policy and said they could offer me the same coverage at the same price. So, of course, I switched and admittedly never looked at the policy until I had a recent claim. Now, I find that the policy that I was switched to was NOT the same coverage I had at...not even close. I now have a 1 % deductible instead of $500 and I also now have "actual value " instead of replacement cost coverage. Needless to say, I'm angry and feel I have no recourse since I admit I didn't read over the policy...I trusted the agent , since I had my car insurance with them for over 30 years. Has anyone ever had this happen to them and what, if anything, can be done about this? Also, I didn't sign anything!

Posted by: lucy on 2010-02-25, 07:35:35

As a general rule, most companies will give you a discount for insuring your home and auto with the same company, so by them offering this, would make sense. Also in 2 years you have been getting new declaration pages showing your coverage on your policy, which you never looked at. But when most people go thu an agent, any good agent will request a copy of your prior policy to give you the same coverage as you had. But you now have some high costs that you will be incurring with the 1% deductible plus ACV vs replacement could be substantial also. Do you still have copies of your prior policy you had for 25 years showing $500 deductible and replacement cost coverage? You can file a complaint with the insurance department and also against the agent, but it could come down to he said/ she said and lose. If you had done this on your own, w/ out a agent, might be different. But in the end, it is still your responsibility to know what you are buying and if you did not understand your new policy, your agent should have advised you of these changes. good luck

Posted by: kelly_f_1999 on 2010-02-25, 04:26:58

Trusted the agent was your mistake they looking at the money they make not so much as looking out for you can always get another company or switch back to how you had it nothing is set its your choice what you want

Posted by: Entidtil on 2010-02-25, 04:27:34

There is little you can do. You should have read the policy before signing and paying the premium. You have little grounds for much except a complaint. You can file a complaint with your state's Insurance commissioner and if others have filed against this company for the same thing, the company may be cited but I doubt it and I doubt you would be reimbursed.

Posted by: J on 2010-02-25, 04:37:07

File a complaint with the insurance company and also the consumer protection people. Ignore posters here who cannot construct a simple sentence. No sentence flow and no punctuation usually means they haven't a clue....

Posted by: 12pleze on 2010-02-25, 05:08:55

No as you read and signed it.

Posted by: Greg R on 2010-02-25, 07:03:32

NEVER NEVER NEVER NEVER NEVER TRUST AN AGENT FOR ANY INSURANCE. All they do is feed you so much crap its unbelievable. They don't care about you or anybody but themselves. All they want you to do is sign the contract. Unfortunately there is nothing you can do legally because you did sign the contract, sorry.

Posted by: Scott H on 2010-02-25, 07:31:31

No one to blame here but you. You should have read and understood everything carefully before you signed. Your choices are to do nothing and stay with the coverage you don't like, or switch to another company.