Report: American Family Insurance
Category: Insurance Companies
American Family Insurance Homeowners Insurance Helped cost me my home Madison Wisconsin
*UPDATE Ex-Employee responds ..Made you lose your home?
American Family Insurance
Fax:
Nationwide,
U.S.A.
Submitted: 7/8/2008 6:17:34 AM
Modified: 7/8/2008 5:52:17 PM
Bryan
Marshall, MinnesotaI purchased a home and have had the same agent in Marshall, MN for over 10 years. I purchased a home and I got my insurance through my trusted agent.
After 1 year (prepaid because of escrow) my homeowners insurance jumped nearly 38 percent. The reasons were that they reviewed my credit and determined that it was appropriet for them to raise my insurance by this astronomical amount. I was already on the edge of affordability for my home and this amount pushed that over the edge overnight.
My credit did not change and a 37% jump in premiums was unwarranted. Because the premium was one full year prepaid, I was required to pay the differance immediately.
I contacted my agent and he did not help me at all.
Bryan
Marshall, Minnesota
U.S.A.
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Made you lose your home?
Let's say your premium before the increase was $600....hell, even $1000. A 38% increase would mean a $380 increase over the course of 1 year.
If the additional $31 a month increase made you lose your home, then you really stretched yourself too thin and shouldn't be a homeowner to begin with.
Granted, I'm not saying I agree with the credit scoring system as I think it sucks too, but to say they cost you your home is a little exaggerated.
Your agent should review your whole account with you though and try to find ways to help decrease the cost...i.e. increase deductibles, make sure you have all discounts, etc.
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