State Farm Insurance - State Farm keeps rates high, raised rates after first claim, and charges excessive fees
After more than 20 years of combined home and auto policies (at any given time, between 2-4 policies) with zero claims and zero moving violations, I swiped the side of my car on an object as I was backing out of my garage. No accident involving another vehicle. No violations. I just didn't see something sticking out too far as I backed out of the garage. The total cost of the repair is less than $2000.00. After those many years of taking my premiums, State Farm is raising my rates because of the One claim.
Furthermore, despite our vehicles aging 11 and 6 years, our rates Never go down.
Adding insult to injury, we are charged an added fee of $3.00 per vehicle for each payment. The premiums are not enough. We get to pay extra for the privilege of paying them.
Insurance companies are like the Mob. We pay for protection but if we ask them for anything, they will break our knees. In the meantime, they continue making profits in the billions despite natural disasters like Katrina, terrorist attacks like 9/11, and the economic downturn. The entire industry continued and continues making record profits through it all. And profit isn't enough. They want More and More profit, and they get it by cheating consumers.
It isn't only health insurance companies in need of reform, people. Without regulation reform, when one company successfully rips us off, all the others follow suit. When they all engage in the same practices without negative consequences, there can be no competition so there is nowhere for us to turn for a fair deal.
For 15 years the insurance and credit card/banking industries have been playing this exact game, shamelessly increasing unethical practices to the detriment of all of us. Finally, the finance industry crashed the world economy so it is facing reforms (even as it rapaciously makes every effort to get it around them), but the property and auto insurance industry continues on unrestrained.
Everyone should start writing and hounding our legislators until they do something about this industry too!
Product or Service Mentioned: State Farm Insurance Claim.