Well, we have all been knowing this for a while with several carriers, but....
https://www.newsnationnow.com/us-news/southwest/state-farm-secret-documents-revealedf/
Let me add this before going too far off the deep end....
Having a relationship with your local agent is worth it's weight in gold. I have never ever had an issue with state farm denying claims when the customer knows who their agent is. I have several agents in San Antonio, Schertz, and College Station that I can call on my cell phone any time and drop off paperwork. We also don't make BS claims. I imagine knowing your agents for any carrier is helpful.
https://www.newsnationnow.com/us-news/southwest/state-farm-secret-documents-revealedf/
Let me add this before going too far off the deep end....
Having a relationship with your local agent is worth it's weight in gold. I have never ever had an issue with state farm denying claims when the customer knows who their agent is. I have several agents in San Antonio, Schertz, and College Station that I can call on my cell phone any time and drop off paperwork. We also don't make BS claims. I imagine knowing your agents for any carrier is helpful.
Quote:
Documents concealed under a protective order for years are now public, and attorneys say they prove that State Farm was running a scheme that profited $1.4 billion through underpaying and denying wind and hail claims.
Quote:
The internal documents reveal emails between company executives discussing the profits they've seen from the program. "They did a pilot in Dallas County, and it worked. They rolled it out in the whole state of Texas, and then they rolled it out in the country, which included Oklahoma. In the very first year, they lowered indemnity payments to insureds $1.4 billion," Reggie Whitten said. "Each dollar that's in that 1.4 billion was a human being's claim," he added. "Closed without payment ratio was 39%, directly in line with estimates," Hannah Whitten, an attorney with Whitten Burrage, read from one of the released email threads. "That is State Farm leadership in 2023, bragging about closing without payment on claims," she explained. Emails also say State Farm saved over $15,000 per denied or underpaid claim.
"Every homeowner like the Wests that we represent or like Billy Hursh, every time State Farm does not pay for a total roof replacement they've identified, they save roughly $15k per homeowner or an average of 78.8 million," Hannah Whitten said.
