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Insurance Companies Forcing Homeowners to Replace their 10 Year Old Roofs, While they Make Billions.

The insurance industry in America makes a staggering $1,000,000,000,000 annually from premiums. Recently, Florida Legislation is trying to pass laws that prevent Law Firms from filing suit against insurance companies when they refuse to pay your claim properly.


“Insurance companies are already telling people to get a new roof or they’re dumping them,” said Sen. Annette Taddeo, Miami Democrat. “Now, they won’t even care because they won’t have to offer as much coverage. At the end of the day, this is about making money for the insurance companies.”


Do You Really Believe This?

According to the Florida Office of Insurance Regulation (FLOIR), Florida domestic property insurers posted a $1.6 billion operating loss in 2020 and have had net underwriting losses every year since 2015. Hardly seems likely based on how much money in profits they post every year and how much their CEO's earn yearly. My guess is that amount reflects a difference in the absorbent amount of profits they are making and bonus' not being paid. Not really a loss.

Research identified companies that work against the clients that need them the most by rejecting claims, denying coverage, and jacking up premiums.


We looked at complaint data from the National Association of Insurance Commissioners to see what customers are saying about the 10 largest home and auto insurers in the country.

Key findings:





Here are some facts you should know. 1. Allstate CEO made $16,300,000.00 in 2019 2. AIG. AIG is the world’s largest insurance company, and CEO Brian Duperreault earned over $19 million in 2019. 3. State Farm. State Farm is the highest-earning insurance company in the United States, and it did not get this distinction by willingly paying the full amount on every claim. CEO Michael Tipsord earns $8.5 million or more per year. 4. Farmers. The company has specific tactics to limit payments to claimants, as it even offers incentives to its employees if they meet their low payment goals. Leaked internal documents showed that adjusters receive training to put profits ahead of policyholder interests and rights. If adjusters successfully minimize payments by getting claimants to accept lowball offers, they can receive pay increases, bonuses, and other perks. This strategy makes it clear what the priority of Farmers is—its own pockets. 5. Liberty Mutual. Liberty Mutual also started abandoning and refusing renewal to clients in high-risk areas such as those susceptible to hurricanes or floods, according to reports. This left policyholders without the coverage they needed in the event of a disaster that was completely beyond their control. CEO David Long made $19,400,000 in 2018, a 14 percent increase from the previous year, so it doesn’t seem that the insurer is having problems keeping money in the company. 6. USAA. While USAA proudly touts itself as the best solution for military members and their families, it is reportedly still very much focused on its profits—which shattered company records in 2019, amounting to $4 billion. 7. Progressive Progressive still managed to report a net income of over $5 billion in 2019, an almost 44 percent increase from 2018. While raking in the profits, it seems that Progressive left many policyholders out in the cold.

These Companies Can Afford to Pay You These major insurance companies by no means lack the funds necessary to properly compensate their customers. State Farm tops the list with $5.6 billion in profits in 2019. Only three of these companies made below a billion dollars—which means 70 percent of the worst insurance companies made over a billion dollars, yet they did everything they could to keep that money away from claimants.

Tactics Used by Insurance Companies to Hurt Consumers. While these insurance companies are on the list of the worst insurers for various reasons, the fact is that all insurance companies are in business to make money. That means that they are financially incentivized to collect premiums every month while paying out as little as possible on every claim they receive. For this reason, they train their representatives to get people who make claims to settle for less than they actually need. Some of these tactics include:

Making Laughably Low Initial Offers One of the most common tactics that insurance companies use is making initial offers for far below the value of claimants’ cases. Starting with low offers makes subsequent higher offers look more attractive, even if they are still inadequate in light of your losses. When dealing with an insurance company, expect a low initial offer, and do not let it affect your position on the benefits or compensation you need and deserve. Misrepresenting Claimants’ Rights While it would be nice to trust that the insurance company had your best interests in mind, the reality is that insurance company representatives may misrepresent your rights to you. Some companies personally incentivize insurance adjusters with bonuses or the opportunity for career advancement by keeping payouts low, so take everything they say with a grain of salt. Unfortunately, in some instances, they may misrepresent your rights to you to get you to settle for less. If you relied on this information, it may lead you to accept a far lower settlement than you should.

Rushing to Settle Cases Before Claimants Understand Their Rights While insurance companies stretch claims out for as long as possible in some cases, in others, they rush to make settlement offers as quickly as they can. In these cases, they are often trying to get claimants to settle their cases before they have a chance to speak to a Roofing Contractor and determine the actual value of their claim. Similarly, insurance companies may attempt to settle cases quickly, hoping that they can get claimants to sign away their rights before they recognize all of their losses.


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