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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