• Report: #496413

Complaint Review: STATE FARM INSURANCE

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  • Submitted: Thu, September 17, 2009
  • Updated: Wed, July 28, 2010

  • Reported By: screwed, blued, tattooed! — st paul Minnesota USA
STATE FARM INSURANCE
www.statefarm.com Internet United States of America

STATE FARM INSURANCE Refuses to pay a robbery claim on 60% of my stolen stuff since I use it to generate income. They call it a business item. Internet

*Consumer Suggestion: Know your coverage

* : Common in homeowners insurance

* : It is a tough break...but...

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After years of my new bride making insurance premium payments just 3 weeks after we married my wife and I were robbed during our move at our NEW home!!!  Now, MOST of the items that were stolen were electronics that belonged to me "the new hubby" since I make money with my electronics we are NOW after the fact told that those items were considered business related items and NATURALLY the insurance company saw a way out of their obligation with the policy and despite our upgraded coverage and misfortune, claims agent Tricia literally told me "tough breaks you should of had business insurance".  I am DISGUSTED that these snakes would stoop to this level to avoid a claim!  IT'S NOT EVEN THAT MUCH MONEY!!!  BUT, I don't have the kind of money needed to replace all of these items so that I can stay in business.  After being told that I am on my own I am forced to QUIT working in an arena that I have performed in for 22 years... Who's going to take responsibility for the loss of my income.  Who's going to feed my kids???  My personal renters insurance policy was canceled shortly after we married.  We thought we were staying with the better of the 2 companies.  Apparently we stayed with the snakes because my wife had a personal relationship with the agent.  So being a believer in supporting your local and family business members this experience alone has changed my outlook on that forever!!!  Shame on you State Farm...  YOU HAVE RUINED WHAT I HAVE SPENT 22 YEARS WORKING ON!!!  SHAME!!!

This report was posted on Ripoff Report on 09/17/2009 11:56 AM and is a permanent record located here: http://www.ripoffreport.com/r/STATE-FARM-INSURANCE/internet/STATE-FARM-INSURANCE-Refuses-to-pay-a-robbery-claim-on-60-of-my-stolen-stuff-since-I-use-496413. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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0Author 3Consumer 0Employee/Owner
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#1 Consumer Suggestion

Know your coverage

AUTHOR: hear - (United States of America)

This is not the fault of the insurance company.  Items used for business are not personal property, and would be treated as such on your old renters policy as well.  If you use an item in the course of business, insure it as business property on a business policy.  Home and renters clearly state coverage for "personal property" and a limitation for "business property".  Clear cut, and always has been.
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#2

Common in homeowners insurance

AUTHOR: Flynrider - (U.S.A.)

"BUT, I don't have the kind of money needed to replace all of these items so that I can stay in business."

   Did you ever read your policy?  Most are pretty clear that business related items are not covered under the general policy.   If you want coverage, you have to declare the business equipment and (usually) pay an extra premium for it.

   You don't appear to be contesting that the items in question were related to your business.   Do you think the insurance company should make an exception just because you are more special than their other 5 million policy holders?

 

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#3

It is a tough break...but...

AUTHOR: Robert - (U.S.A.)

Your logic(and business practices) are wrong.  You had PERSONAL insurance, no company is going to cover items that are used for business purposes.  No matter what you think, the company you had for your PERSONAL renters insurance would have denied the claim as well.

The fact that it is "IT'S NOT EVEN THAT MUCH MONEY" does not matter.  It is the fact that you did not have the right coverage.  Hopefully in 22 years in business you learned a bit more in how to run a business, and were not doing other things that could come back and "bite you".

Hopefully you have marked the electronic equipment with your identification, and have the Serial Numbers.  This way if the police recover the items they can get them back to you.

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