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Report: #1194160

Complaint Review: Gulfstream Property & Casualty Co - sarasota Florida

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  • Reported By: Nevilleb — Sarasota Florida
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  • Gulfstream Property & Casualty Co 5240 paylor lane sarasota, Florida USA

Gulfstream Property & Casualty Co A homeowners' insurance scam sarasota Florida

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In September, 2014 I received and accepted a quote for an insurance policy covering my home. The quote valued my dwelling at $140,000, which was in line with competitive quotes received from other companies, and a premium of $ 1,031 was quoted. I accepted the quote, the company issued me a binding policy, and I paid the premium in full.

In December, 2014, after the policy had been in force for a short time, I recieved a bill for an additional $715 because " a change has been made to your policy". The value of my dwelling has been increased to $217,361, with no explanation given. If this payment is not made whiin 10 days, the policy will be canceled.

I called the insurance broker who issued me the policy, and their response was vague, mumbling something about my pool being included in the dwelling, which increased the value by $77,361. This is nonsense, as a pool is not part of a dwelling.

I called the insurance company direct, and they would not discuss the matter, insisting that the broker incorrectly value the repalcement cost of my dwelling.

 

I am now out of pocket $1,031, and if I do not pay the ransom of $715, I will either be uninsured, or have to find alternative coverage for an additional $1,200.

 

Ii believe that this can only be a calculated scam, or a level of incompetence that is epic.

This report was posted on Ripoff Report on 12/09/2014 11:23 AM and is a permanent record located here: https://www.ripoffreport.com/reports/gulfstream-property-casualty-co/sarasota-florida-34240/gulfstream-property-casualty-co-a-homeowners-insurance-scam-sarasota-florida-1194160. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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