Date registered: Jan 2009
Vehicle: Nissan 300ZX Twin Turbo Convertible, Lexus IS 300, Mercedes GLK350
Location: Holly Springs, North Carolina
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State Farm Insurance - Your opinion please
I've had State Farm Insurance for my business for the last 13 years. I also have 3 cars and my house insured under them along with life insurance for myself and my wife.
Last January my business was robbed at gun point and I made necessary claim to recoup my losses. After the hefty deductable, I received 1000.00. That is less then what I had lost that day.
Today I get a letter letting me know that my business insurance will be cancelled in Febuary. After 13 years of 800-1200/yr(due to increasing insurance rates), they will cancel me for making ONE claim for robbery. I'm really lost for words.
What is insurance for if you can not even count on them to protect you? I can understand if I was getting knocked off every month, but ONE claim in 13 years?
Because of this reason I will cancel my insurance for the 3 cars, life insurance for myself and my wife and my home tomorrow, and go with someone else.
How is this even ethical? What ever happened to State Farm being there for you? I guess they have no problem padding their pockets with "free" money, but as soon as they have to give a fraction of it back, they will cancel you.
What do you guys think of my situation and does this sound ethical to you?
Opinions would be appreciated.