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Started By
Message
re: James Woods: “State Farm WASN’T There”
Posted on 1/12/25 at 1:10 pm to dcbl
Posted on 1/12/25 at 1:10 pm to dcbl
quote:
but State Farm did the prudent thing for their company
They did what any reasonable CEO would do, and has a duty to do for the shareholders, in the face of impossible regulations.
This post was edited on 1/12/25 at 1:10 pm
0
Posted on 1/12/25 at 1:10 pm to OU Guy
State policies made it impossible for insurance companies to operate there.
Posted on 1/12/25 at 1:12 pm to OU Guy
I had to sue SF over a storm damaged roof. It took me two years to get my claim paid. It ended up costing SF double because they were also responsible for all the legal fees.
Initially, I would have gladly come up with a settlement where I would cover a portion off the roof but they decided to jerk me around instead. They got what they deserved.
Initially, I would have gladly come up with a settlement where I would cover a portion off the roof but they decided to jerk me around instead. They got what they deserved.
Posted on 1/12/25 at 1:12 pm to OU Guy
Posted on 1/12/25 at 1:15 pm to OU Guy
From what I’ve read, the insurance companies saw the “writing on the wall” and pulled out because they knew it was too risky for them to keep insuring these areas at the current rates.
I guarantee that the insurance companies knew that that no wildfire mitigation was being done and that the reservoirs were not being filled or maintained, thus exposing them to huge losses.
This will eventually come out.
I guarantee that the insurance companies knew that that no wildfire mitigation was being done and that the reservoirs were not being filled or maintained, thus exposing them to huge losses.
This will eventually come out.
This post was edited on 1/12/25 at 1:27 pm
Posted on 1/12/25 at 1:16 pm to TROLA
quote:
He’s angry and emotional, both completely acceptable but this isn’t a State Farm or insurance issue.. they saw an issue and stopped selling a service.. they recognized the potential of what exactly happened and would be paying out billions, costing customers all over the country to share the pooled risk.. people need to accept that insurance companies are still in the business to be sustainable and profitable
State Farm has been more than happy to take homeowners money for decades, so yes, it IS a State Farm issue.
They should be held liable imo idc if it bankrupts them.
Posted on 1/12/25 at 1:18 pm to OU Guy
Like a good neighbor
Posted on 1/12/25 at 1:20 pm to dcbl
quote:We'll see. CA offered state sponsored insurance to replace private coverage. But according to CA law, if the state company goes belly up, private insurance still gets tagged proportionate to their statewide coverage.
State Farm did the prudent thing for their company
Posted on 1/12/25 at 1:29 pm to OU Guy
Jake’s pullout game is strong.
Posted on 1/12/25 at 1:32 pm to OU Guy
So, James is telling us he JUST learned that he didn't have homeowner's insurance. Well if that's the case I would be pissed, too. However, I'm sure he received a cancellation notice months before the fire. Whose fault is that??
This post was edited on 1/12/25 at 1:33 pm
Posted on 1/12/25 at 1:46 pm to OU Guy
He spent too much time on X and not enough time reading his mail.
Posted on 1/12/25 at 1:48 pm to OU Guy
This is a bad look for James. I understand he's emotional, but no need to be dishoenst.
Posted on 1/12/25 at 1:49 pm to Warfox
quote:
State Farm has been more than happy to take homeowners money for decades, so yes, it IS a State Farm issue.
You do realize they received none of that money for this time period, right?
Posted on 1/12/25 at 1:50 pm to OU Guy
Regardless of what people think about what happened with Woods, State Farms does in fact suck really bad. Got in a wreck with my wife (no pics) on the interstate several years ago near Tyler Texas. We were hit by an uninsured motorist and our policy covered that. Our vehicle was completely destroyed and it was a miracle we weren't seriously injured. State Farm did everything they could to not pay a cent and it was only until I told them I was getting an attorney that they started to negotiate and gave us a low ball offer. They fought us tooth and nail for everything. Regardless of what people think about the Woods case, they do in fact suck really bad, and they sure as hell weren't there for us when we needed them. It has been over 20 years, and I still look forward to telling everyone I can about our horrible experience with them.
Posted on 1/12/25 at 1:51 pm to tigeraddict
When will people learn that any government intrusion into a market drastically damages that market?
Only Democrats, media and women couldn't have seen that dumping trillions of dollars into the health care industry (Medicare, Medicaid, etc) would only inflate costs astronomically.
Only Democrats, media and women couldn't have seen that dumping trillions of dollars into the health care industry (Medicare, Medicaid, etc) would only inflate costs astronomically.
Posted on 1/12/25 at 1:51 pm to Warfox
quote:
They should be held liable
So, you are for forcing private companies to do business, even months after pulling out of the market?
Posted on 1/12/25 at 1:56 pm to OU Guy
I have a young man that I mentor, he is an adjuster for State Farm. He's been working in Salt Lake City, called me yesterday and said he was on his way to LA. We spent quite a bit of time talking about his safety while there. He is aware that he will not be liked while there.
Posted on 1/12/25 at 1:57 pm to OU Guy
I love James but but if he got notice a year ago that his policy would not be renewed this is on him and everyone else complaining about it.
Insurance companies are under no obligation to take risks that expose them to potential bankruptcy. In fact, just the opposite. They went to Cal insurance regulators about increasing premiums and were denied. It was their duty to pull out in this situation.
Insurance companies are under no obligation to take risks that expose them to potential bankruptcy. In fact, just the opposite. They went to Cal insurance regulators about increasing premiums and were denied. It was their duty to pull out in this situation.
Posted on 1/12/25 at 1:58 pm to Buckriggler
quote:
Regardless of what people think about what happened with Woods, State Farms does in fact suck really bad.
In my experience they're one of the easier ones to work with.
Now Allstate? Driving with Allstate increases the chances of you being sued dramatically
Posted on 1/12/25 at 1:59 pm to Plx1776
Yes. There’s a thread in the OT with an official press release from State Farm stating it was financially unable to insure some residential and commercial properties based on California’s insurance regulations. It affected 2% of their customers and they would be given other options including California’s FAIR Insurance to reinsure.
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