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State Farm just sent me a notice on one of my rental properties that they are cancelling that policy as I have filed 2 claims, both for hail damage, in the past 6yrs. I am actually laughing at this, as I knew it was coming.

I had 7 vehicles, 4 houses, a travel trailer, a motorcycle, and a personal articles policy with State Farm for many years. A few years ago, as my kids got older and started driving, they continually jacked up their auto rates, so we took all of our auto business to All State. After we did that, they sent me a notice that my personal homeowners policy would increase by $1000/yr as I no longer could get the home/auto discount since I took the autos elsewhere. So, I switched my home to All State too.

I have 2 rental properties that are still with State Farm, and yesterday, they send me a notice that they are cancelling one of them as I have filed 2 claims in 6yrs, both for hail damage that happened to half the city. Well, All State, looks like your gonna get those too.

I called my agent, who is actually a good guy, and we have had this conversation many times over the past couple years. He says it is the new model that they are running in Nebraska. I told him that it's a pretty *** business model - I have only paid in about $4500 in premiums on that house and they have paid me about $18,000. And now that I have almost a brand new exterior, they are gonna let me go pay those premiums to another carrier.

I have very nice rental properties in good neighborhoods, and they are always well taken care of. I file 2 claims, for weather related events, which half the city did also by the way, and they cancel me.

Sounds to me like their business model is - "You pay us money, never bother us, and we will let you stay a customer!" Sounds Like A Good Way To Go Out Of Business, State Farm! You managed to run me off, with ALL 12 of my policies!!! And I will NEVER be back!

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Anonymous
#1276055

Sorry, to hear of your problems with your insurer.

Most insurance companies do not want your rental properties or homeowners business unless they have your auto business, especially in the Midwest where there is a lot of storm damage.

So if you pull that business away, you can become a sacrificial lamb come underwriting review time, if you only have a couple of rental properties with them and then you filed claims even as you did, 6 years apart. They don't make enough profit to take on the risk in hail prone areas and will cancel people for that reason. You may have been wiser to have kept at least one car and your homeowners coverage with them.

I have experience with both companies you mentioned, but am beholden to neither. From my experiences, the company you switched to, is much more aggressive I their underwriting policies and stingier in their coverage offerings and payouts when you do have a claim.

Also, you mentioned your old agent being a good guy, most of the agents with this company will go to bat for you against their underwriting division I you are a good customer, which you appear to be.

The latter would likely have had no say whatsoever if there are issues.

it is my opinion that you traded down a little when you took your business to Allstate, I hope you saved enough money to make it worth it.Best of Luck there in Nebraska and Go Cornhuskers, now that the Sooners don't have to play you every year!

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