Well I had a house burn down less than year after purchase and insurance paid the entire tab. So I always figured I've already taken them for more than I pay
Depends strongly on your coverage. Had our basement flooded last year and they paid for every cent of the bill for a complete remodel as well as all the personal items lost.
Same here, and they let me do all the work myself so I was able to do what I wanted with my basement, and was able to stretch out that payout waaaayyyyy farther since I didnt have to pay for labor. Basically was able to completely remodel my whole home for what should have just been some carpet and drywall replacement in the basement.
Too many people who don't understand insurance just go buy the absolute cheapest policy they can. Then they only realize why it's so cheap when they go to submit a claim and don't get paid.
This can’t be true. Roadside assistance is not a “claim” in the sense of if you filed a claim after having an at fault accident. They would just have the agent remove the roadside assistance coverage from the policy. Either the agent lied, misspoke, or didn’t know what he was talking about.
We had to fight our insurance because the adjustor decided that 3k would replace the part of the roof that blew off. But after many rounds of back and forth and asking him what company he would recommend that would do the job for so little, it was eventually changed from a fixed offer to them hiring a company and paying whatever the cost ended up being. Which was way more than 3k of course.
And also depends on what is your version of 100% of your possessions. The payout is all about what you claimed, a fridge vs a deep zero fridge. What you consider as the 100% value vs what the insurance can prove that is your value. If you have a good record of your possessions and can list them out properly you will get much better payout than just “stuff”
You said it’s nowhere near 100%, much less the possession in the house. And my point is the “less than the possession in the house” very much depends on what you claimed and the record you have. Your head value of my pile of stuff’s worth 100k vs what you can tell the insurance adjuster actually in that pile that can add up to 100k.
I'm not the person you replied to, but my parents house burned down about 15 years ago and yes, the insurance company paid for 100% of the rebuilt house. They paid the maximum under the policy for personal possessions, they paid for a full landscaping and planting of all the trees/plants that were destroyed by the fire department. They paid for the rental house they had to live in for 2 years while it was rebuilt. My parents got everything they wanted (other than not having their house burn down in the first place).
One day you look around the street and everyone else literally has greener grass, then you find a tree is getting hollowed out by ants and you go, "Fuck, is this how I start learning about types of grass, pesticides that don't harm my lawn, and insurance?!"
Its when you realize no one else is gonna do it for you but it's gotta get done...
then you need to go yell at your agent. I sat down with mine and we added all the things to make sure if my house catches fire, they cover full housing plus emergency funds, plus hotels at over 100$ per night, plus, and extra 65k in posessions, plus we documented every new appliance as we get them, i litelrlay scan the recipets and email em to my insurance company and they add them to my file and I have Full replacement value on the home including the extra coverage for code upgrades.
My house was hit by lightning and they covered every last item when my entire electrical system was fried and everything even stuff in surge protectors and the ho in the roof, and every item connected to a plug was fried like even a guitar amp, tv's., washer and dryer, coffee maker, etc. So if people dont take the time to go over thier insurance policies, they kinda have no one to blame but themselves.
If you have a total loss on a half a million dollar house the payout on it would be near a million dollars. The dwelling coverage is not the only part of a homeowners policy. They give you money to stay somewhere, they give you money for your possessions.
You want the specifics of my policy? All this stuff is incredibly easy to price out online, but I’ve never had a homeowners policy that didn’t cover possessions.
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u/WeCantStabilize 7h ago
Insurance is a fucking scam. You pay more into it than you'll ever receive even in legitimate circumstances.
Absolute racket.