• Report: #486462

Complaint Review: NATIONWIDE INSURANCE

  • Submitted: Fri, August 28, 2009
  • Updated: Sun, September 20, 2009

  • Reported By: Happynuc — Green Bay Wisconsin USA
NATIONWIDE INSURANCE
nationwide.com Glen Allen, Virginia United States of America

NATIONWIDE INSURANCE raises rates 40% with no justification, drops client with minimal claims due to relocation (house is not occupied) Glen Allen Virginia

* : Home insurance

* : Unoccupied home

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First off, I understand there are no laws preventing such behavior on the part of an insurance company, they are in the business of taking as much your money as they legally can and doing everything reasonably possible not to pay out a claim.

 

When we first switched to Nationwide a few years ago, they were awesome. Best rates, great service, etc. I had no complaints. We never had a claim, never did anything to warrant a more than average rate increase.

 

Last year our rates went up 40%. I asked the agent and was told they had upgraded to a new software program which placed our home in a higher risk category which resulted in a higher premium. I made the assumption that this software renormalized the base and if some went up, some had to go down. When questioned, the answer was, Well, not everyone went up. In other words, this new software was not designed to appropriately rank risk, it was to find a way to extract more from as many as possible.

 

Two months after this, we moved as a result of a job outside the state. Unfortunately, the housing market has not helped us sell our home. Our house is currently unoccupied, however, neighbors are checking on it nearly daily, there are no issues with the home (I go back routinely to check up on its condition). The other day we received word that they were dropping us because we did not occupy the home.

 

What floors me with all this is that over the course of our homeownership life (12 years), we have had one claim that cost the insurance company $2000, and that was because of damage caused by Hurricane Isabelle. We have a great credit rating, we have a great everything insurance rating (one minor accident and 2 speeding tickets 25 years ago).

 

I am not sure what other insurance companies are going to do for us, I have yet to call around. I can guarantee I will never again use Nationwide (I would love to blame the agent, but this is a corporate thing).


This report was posted on Ripoff Report on 08/28/2009 07:36 AM and is a permanent record located here: http://www.ripoffreport.com/r/NATIONWIDE-INSURANCE/Glen-Allen-Virginia-/NATIONWIDE-INSURANCE-raises-rates-40-with-no-justification-drops-client-with-minimal-cla-486462. 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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REBUTTALS & REPLIES:
0Author 2Consumer 0Employee/Owner
Updates & Rebuttals

#1

Home insurance

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

I agree with the above comment. If it is not owner occupied you need another policy. Either a landlord or a vacant-dwelling policy. And I write for 17 states, yes, most VA policies have gone up recently.
The bad thing with insurance is they really only look back a few years for claims.
When the house is considered an unacceptable risk due to you not living in it, there is no credit score or loyalty that is going to keep the company from canceling you.
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#2

Unoccupied home

AUTHOR: NWInsAgent - (USA)

I'm not an agent in VA, so I don't know about the rate increase. I can tell you that it is nothing personal with Nationwide no longer willing to provide insurance for your house.

No one reads through the 50 page contract, but if you did, you would notice that one of the stipulations for a homeowners policy is that it be owner-occupied. Since you said you moved and its not occupied, you need to get a vacant dwelling policy from an agent that works with E & S brokers.

I'm sure Nationwide would love to keep you as a customer if you were still living in the home.

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