Katrina Victims and Insurance Companies

[Rick Waldroup]

http://news.yahoo.com/s/ap/20060815/...rina_insurance

It seems as though the nightmare is never going to end for some of these folks.

[princer7]

I'm not a victim of Katrina in a direct way but did get notice that our homeowners policy is being cancelled due to the company filing bankruptcy.

[gardener]

Wondering if I should go home, find my actual insurance policy, and then highlight the part in itty bitty words that says "we'll be happy to take your money but if something happens to your house, you're nuts if you think we'll actually cover the damage like you thought we would... Silly fool.".

[Rick Waldroup]

Yep, my policy just went up almost 500.00 more from this same time last year. What a racket.

[Steelsun]

Originally Posted by gardener

Wondering if I should go home, find my actual insurance policy, and then highlight the part in itty bitty words that says "we'll be happy to take your money but if something happens to your house, you're nuts if you think we'll actually cover the damage like you thought we would... Silly fool.".

It's there, but they call it "Acts of God".

I had a laugh a few years ago when I read an exclusion to my policy that said they would not cover damage as a result of nuclear explosions, except for fire damage as a result of it. So you hope your home isn't a direct hit, the wind/pressure wave does not knock it down, but the fire storms that result is ok. Weird.

[Roadrnr]

I think the biggest problem with this is the agent. They are the ones that are knowledgable in the home insurance policy, and should be explaining that to thier customers. I know that is one thing that I do.