Insurance....

[JxxxOxxxE]

Pardon the length...

So after the fires touching our back yard last week, I decided to look into some insurance stuff. I called up my State Farm agent to ask some questions. Apparently had my house and shop burned down, I'd have been screwed out of at least $40k. State Farm wants me to have a separate policy for every motorized vehicle I have unless its used to maintain my property. So, 1 4 wheeler, 2 restored 3 wheelers, 1 side by side, 1 dirtbike, 2 jet skis all would have been gone, with no compensation. Come to also find out, I only have $5k in gun coverage, not nearly enough, though I cant raise it any without adding a complete separate policy. So I would need 7 separate policies for just the motorized stuff I own to be protected. Plus 2 others for guns and jewelry.I dont want to deal with it all, I just want it to come out of my escrow account once a year, and thats it. They cant even roll all the extras into that.

They said I could add another $100k in coverage for $50 a year, fair enough right, It still wouldn't extend to the things listed above though...I don't understand why I can't just pay XXX amount for XXX coverage for everything on my property.




So I called a Farmers agent today. He threw in everything I wanted and said it would all be covered on my homeowners with no separate policies or anything like that. I can pick the amounts I want on certain things, and they just base my rate off that. This sounds a lot better.



Without this turning into a argument (i.e. Ford vs. Chevy), does anyone have Farmers insurance, and is not pleased with their coverage? I understand the guy is trying to sell me on it, but is it really that easy, cause thats just what I want.

Any problems with claims?

Anyone with State Farm have things different than what I'm being told?

I told my current agent that I can understand why so many people try to fraud the insurance companies. It seems like a big racket to me...

 

[RETOKSQUID]

Is your agent telling you separate policies, or riders on your current home owners? I have everything covered under one policy with state farm (full replacement of home and a rider for full replacement of 250K worth of contents) covers our storage building as well.


Have family that use and or work for Farmers as well, have the same coverage and seem to be quite happy with them. Just start checking with agents and all that fun stuff. Know it is a PITA but you can get what you want if you shop around.

 

[JxxxOxxxE]

Is your agent telling you separate policies, or riders on your current home owners? I have everything covered under one policy with state farm (full replacement of home and a rider for full replacement of 250K worth of contents)

Yes, I guess its a rider, but I have to pay them separately from my regular homeowners. Have you asked if yours would cover say $30k in guns? Or $20k in ATV's? I'd love to know what they'd tell you. I've been very specific with them about what I want, and we aren't getting there...

 

[like2shoot]

I've got Farmers on autos and home and have no complaints. I've had a roof replaced due to hail, and one car totaled due to hail and had no issues whatsoever. Don't know if they're the cheapest, but you get what you pay for.

 

[RETOKSQUID]

Yes, I guess its a rider, but I have to pay them separately from my regular homeowners. Have you asked if yours would cover say $30k in guns? Or $20k in ATV's? I'd love to know what they'd tell you. I've been very specific with them about what I want, and we aren't getting there...

Yes, we sat down with our agent here in BA and made sure that those specific items were covered and were written into the current policy we have. Also covered for damages due to quakes and floods & flooding, as well as the whole tornado/weather/fire thing.

 

[Phat Mike]

we had farmers insurance and was told that all the weapons had to listed and appraised .. wow .. then I went over to farm bureau insurance got more coverage and cheaper. and didn't need to have my weapons appraised to boot!

 

[tiasman]

99% of insurance companies use the same basic 5 forms for homeowners policies developed by ISO (insurance service organization). $1000.00 is the standard coverage for guns and jewelry. It's in black and white on the policy you sign. If you need more coverage than that, you have to buy an endorsement. It's a shame that not all agents explain this, and it's a shame that most people are not listening if they are told. You can add to that, most people don't read the policy that they depend on to protect themselves from financial disaster.

 

[FullAuto]

Joe, I'd be interested in what type of poilcy the Farmer's agent was trying to sell you. I wouldn't be too confident that what he's telling you is what you believe it is. What the State Farm agent told you sounds to be correct. Yes, it sucks, but that's the way it's done. You have a lot of toys, you carry a lot of policies or riders. IMO, it sounds too good to be true. I'd go see another Farmer's agent and ask the exact same questions. Get very detailed with the values of the items you believe is covered. Then, I'd still read the policy.

And to those who think their guns are covered, I hope you never have a loss and learn you were limited to up to $2500 per firearm and $5000 total in firearms (or less).

 

[Cedar Creek]

We have Farmers on our house, land, & cars. Has always paid off well; no complaints. Great adjuster they sent when we had hail damage. Our coverage amount for firearms is pretty low, although I don't remember the exact amount. Your agent will make a world of difference for you if you have a good one, which I don't.

Cedar Creek

 

[ronny]

Both State Farm and Farmers are "direct writers", meaning that in practical terms the "agents" are pseudo-employees of these companies. This is not always true, but usually is.

Try an "independent" agent who represents a number of seperate companies. You will often get better explanations and options.

It's been said before, usually to no avail - Read Your Policy.