[Tedesco!]

My car was broken into, and a camera was stolen. My insurance company, State Farm, is using that as a reason to drop my renters coverage. I am supposed to close on a condo in 5 days and now I find myself without insurance, especially since other providers won't take me because someone broke into my car.

My question is this: How the hell is that possible that they can drop me like that? One of the reasons anyone buys insurance is to cover themselves in the event that a theft occurs. I've been a customer of State Farm since 1992. Since that time I've been involved in thee auto accidents (all occurring when I wasn't in the car) yet they still provide me with auto insurance. Some fuck breaks into my car and suddenly I can't get covered? WTF?

Also, in case you are curious, the "Big 3" that will usually prevent you from getting picked up by another insurance company are theft, flooding, and fire. Makes a lot of sense, doesn't it?

[Outlaw]

Insurance companies are a big scam.

[JGS]

My car was broken into, and a camera was stolen. My insurance company, State Farm, is using that as a reason to drop my renters coverage. I am supposed to close on a condo in 5 days and now I find myself without insurance, especially since other providers won't take me because someone broke into my car. My question is this: How the hell is that possible that they can drop me like that? One of the reasons anyone buys insurance is to cover themselves in the event that a theft occurs. I've been a customer of State Farm since 1992. Since that time I've been involved in thee auto accidents (all occurring when I wasn't in the car) yet they still provide me with auto insurance. Some fuck breaks into my car and suddenly I can't get covered? WTF? Also, in case you are curious, the "Big 3" that will usually prevent you from getting picked up by another insurance company are theft, flooding, and fire. Makes a lot of sense, doesn't it?

Underwriting guidelines must have changed quite a bit since I was in the business. One theft of a camera will not leave you destitute for insurance normally. That said, insurance companies can drop you for anything. If they didn't have an accurate list of inventory or thought you were careless with, I assume, an expensive camera, they may not want to take another chance with you- Especially coupled with 3 losses on your car where you weren't around. That is not a good thing. They would much rather there be a reason for your losses that you witnessed.

I would not panic. Many people will take you on for homeowners (Wholly different from renters) unless you live in an area that doesn't offer much in insurance anyway. In those areas, there is usually a Farm Bureau ("We are Farmers! Bom, bom, bom, bom. bom, bom, bom...) that insures just about anyone whose home hasn't burned down.

EDIT: The Big 3 thing sounds bogus. Thefts are rare except in bad neighborhoods, so insurance companies try to avoid those areas. Otherwise, break-in take a relatively minor amount of stuff in comparison to all that could be taken.

There are exclusions for flooding (Even water back-up requires an extra endorsement) so not a big loss there. Flood insurance is a national program and the premium is universal as well. In other words, the risks is either built in or it's not covered.

Fire is definitiely tru though. If your house burns down, you will almost certainly need to go through a high risk plan for a few years before anyone trust you unless they can track down blame (Faulty wiring or arson from a non-homeowner. Usually it's something stupid like cigarettes or lights).

[neojubei]

Does your state have a fair plan? What state are you in?

[ChiTownBuffalo]

Weird that State Farm would drop you due for that. I mean, their loss leader is auto but they make that money up in home, fire etc.

I would go with Geico or Progressive for home, they are trying to expand that business fast right now so they'll take customers.

Another is The Hartford, since they real desperate to get into the provate insurance game. The bulk of their book is commercial.

[Tedesco!]

Does your state have a fair plan? What state are you in?

I live in KC.

I spoke with State Farm again earlier this morning. My renters policy was less than three years old when the theft occurred. I also reminded the person I spoke with today that I have been a member of SF since 1992, and that I would be taking my auto insurance to whatever organization took me on as a client. This was in response to the agent saying that he hoped I would continue my auto insurance.... right.