Farmers Insurance Discontinue Coverage Of A Insurer after Filing Tornado Claims

Farmers Insurance cancelled the coverage of Richard Perry, a Moore, Oklahoma resident after he filled two claims for tornado damage. He got a letter from the insurance company stating that they would be canceling his policy, effective in April.

In an interview he said it doesn't make sense to him, he called his local agent and the agent to him that the company would be more than happy to continue coverage on their vehicles but, due to the location of his home in a high risk area, it would be too high a risk to cover it.

The letter reads: "Unfortunately, we are unable to continue coverage, because the number of losses you have experienced exceed our acceptability limits."

The family filed claims on two occasions following tornadoes. Their first claim was in 2013, when the insurance company paid $1,615 for wind damage. The second came in March of 2015, when Farmers paid $7,746. Perry said most of that claim was paid out on his truck, which was damaged in the storm.

Under state law, an insurance company can't drop a policyholder for filing a single claim. But, companies can take action if a policyholder files two claims or more.

It's hard to trust an insurance company that will drop you like a hot potato when things are hard on you.


Farmers Insurance is Rated Worst!

Flood Insurance Policy: Tool to Estimate Flood Damages to your Home

With the recent extreme weather condition that battered the country a lot of homeowners have to deal with flooding. Officials from the Federal Emergency Management Agency have repeated over and over, pitching flood insurance to homeowners.

If your house got flooded, usually there is a 30-day waiting period on most flood insurance policies, so you should really have one in place already. If you’re right on the water and you don’t have a mortgage, you should probably get flood insurance to cover yourself.

You should also make sure that your policy is rated properly, if your policy is not rated correctly and an adjuster find it out, you could have your claim adjusted to pay back for insurance that you should of been paying for, so double check with your insurance agent to make sure that you are rated properly.

All it takes is a few inches of water to cause major damage to your home, your appliances, and other contents.

If your home got flooded you can use this tool to estimate the damage caused by the flood inch by inch:



Also check "What does Standard Home Insurance cover?" and "Flood Insurance Policy"

UnitedHealth May Ditch Obamacare

Despite of UnitedHealth Group Inc. efforts to cut down on sign-ups their 2016 Affordable Care Act exchanges enrollment has surge and this caused the company significant losses.

UnitedHealth, which is the biggest U.S. health insurer said, they are expecting losses of more than $500 million on its 2016 Obamacare plans, compared with previous projections that amounted to $400 million to $425 million in losses.

The company has done some steps to reduce their exchange business exposure in anticipation of losses, like cutting down on marketing and slashing commissions to health-insurance agents.
However, enrollment still grew, widening their exposure. UnitedHealth Group Chief Executive Stephen J. Hemsley said the new projection reflected “prudence,” as the company sought to ensure it had covered all possible losses.

On Tuesday, the UnitedHealth reported their financial outlook for 2016, they expect $7.60 to $7.80 in adjusted earnings per share and at least $180 billion in revenue. Its shares closed up 3% at $112.58, as investors shrugged off the exchange comments amid strong results elsewhere in the company’s portfolio.

But UnitedHealth’s move comes amid continued worries about the exchange business—concerns that the company jump-started in November, when it disclosed expected 2016 losses and said it would consider withdrawing from the health-law marketplaces, a decision expected to be made later this year.

What would an exit by UnitedHealth Group mean for Obamacare?

It would mean higher premiums as well cost sharing for consumers, particularly in small markets where UnitedHealth is a big player.

Car Owners Don't want Insurance Companies to Track Them Even it they give Discounts

Car insurance companies like Progressive, Allstate, and State Farm are offering big discounts to car owners on their insurance however, it comes with a catch. They will place sensors in your car so that they can track your every move and driving habits.

The sensors will give insurance companies comprehensive data about how you drive your car, how far motorist drive, how often you hit the brakes, and record every time you exceed the speed limit. These data will give insurance companies information to identify safe drivers who are less likely to file a claim.

Insurance companies wants to create a database of these information about drivers to be able to accurately evaluate risk and customize each insurance policy to fit individual drivers. Unfortunately for them they will need customers to consent to having a tracking device in their cars, and a lot of people don't want it.

Insurance companies are temping car owners with plug-in devices and smartphone applications. They are also working with car manufacturers to be able to use their in-car computers as tracking devices. They also offer big discounts as high as 30%.


If you ask me, this is really creepy, if they can track your every destination they will know everything about you. Where you work, where your kids attend school, where you get your lunch etc.

HAPPY NEW YEAR 2016

This new year holds numerous surprises. Be open to changes. The New Year is the time of unfolding horizons and the realization of dreams, may you rediscover new strength and garner faith with you, and be able to rejoice in the simple pleasures that life has to offer and put a brave front for all the challenges that may come your way. Wishing you a lovely New Year.

Merry Christmas! 2015

May the Holiday Season
bring only happiness and joy
to you and your loved ones.

Merry Christmas! 2015

Flood in Florida Keys Will Affect Property Values

Key Largo, USA - High tides that are peaking has turned the streets into swamps in the Florida Keys, it also brings swarms of annoying mosquitoes and smelly stagnant water. Residents are worried that this will be an impediment to the property values in the island chain.

Key Largo is the first and northernmost of the Florida Keys and just an hour drive from South Florida's two major airports. It is famous for scuba diving, snorkeling, an underwater hotel, sport fishing, eco-tours, beaches and fishing. The floods in Key Largo started late September.

Residents expected those floods but what they didn't expect were low lying streets to be swamped with 16 inches of salt water for nearly a month. Situation did improve in November, but heavy rains this December inundated those streets again.

Resident Narelle Prew, 49 who lived for 20 years on Adams Drive said it was "like a sewer". People living in the area have already signed petitions, voiced anger at community meetings and demanded that local officials do something, whether by raising roads or improving drainage.

"We are all concerned about our property values." She estimates that her home's market value at about a million dollars.


Henry Briceno a geologist at Florida International University said that, "It is like taking a peek at the future." Scientists will not be able to determine or predict exactly how fast sea levels will increase in the years ahead as the oceans warm and glaciers melt. Southeast Florida Regional Climate Change Compact Sea Level Rise Work Group are expecting that water will go up to 10 inches above the 1992 average in the next 15 years and 26 inches by 2060. By 2060, if no action is done the sea level would wipe out 12% of property value in the Keys, a string of 1,700 small islands built on porous, prehistoric coral reefs, according to a 2011 report by Florida scientists.

Come 2100, since most of the islands are less than 6 feet or 2 meters above the current sea level, a 5 foot (1.5 meter) sea water rise in the Keys would wipe out 68% of property value in the area.

Currently, the real estate market in south Florida is flourishing and more than 50% of transactions are paid for in cash due to a surge of Chinese real estate investors. 

Lynda Fernandez, senior vice president of public relations at the Miami Association of Realtors said, "Our entire market area continues to experience record level sales activity and significant price growth, consistently since 2011." Sales are up 17% in Keys, the average home sale price is $512,000, up 3% from last year.

"So far we have not been seeing buyers being concerned with sea level rise, which I'm a little surprised given all the media attention it has garnered lately," said Lisa Ferringo, president of the Marathon/Lower Keys Board of Realtors.

Experts are sounding the alarm bells that in the next 15 years those investment will be washed away. As much as $15 billion could be lost in Florida property by 2030, according to Risk Management Solutions (RMS), a leading catastrophe risk modeling company which advises insurance companies.

Source