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Ripoff Report | People's Trust Insurance Compa Review - Florida
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Report: #1089945

Complaint Review: People's Trust Insurance Company - Florida

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  • Reported By: Dee — Pompano Beach Florida
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  • People's Trust Insurance Company 6001 Broken Sound Parkway Florida USA

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 I took out a HELOC  loan in 2008 which did not require windstorm.  In June of 2013 my bank sent me a notice that my State Farm policy did not have windstorm and that I had not much time to get it.  Since this was not a renewal, I had to start from scratch.  The letter was backdated 10 days and I had only about 3 weeks to obtain windstorm insurance which nobody will write where I live in Broward County except maybe Citizens.  I saw an ad for Peoples Trust Insurance Company and I called them.  They asked me a ton of questions, including did I already have homeowners insurance, the year my roof was replaced, etc.. They told me they would write the policy and do an inspection later. 

To make a long story short, I sent them $1,400.00.  I had trouble with the inspection time because I needed a Saturday inspection.  Right from the beginning I got the feeling they wanted to just get my money and cancel me.  They sent me a notice that I would be immediately cancelled if I did not produce my prior homeowners policy which I did.  Then they told me they were going to cancel me because I didn't have their inspection even though when I called for a Saturday inspection, they told me to call back in 2 weeks. 

When the inspector came, he was very nice, told me my home was beautiful and that the only problem I had was the plastic lines under the sink should be metal.  He said everything else was fine so I sent them the second installment of $650.00.  As soon as the check cleared they sent me a cancellation notice dated Sept. 27, 2013 which I received on Oct. 2.  The cancellation date is October 21 which is not even a month.  I believe they are supposed to give you at least 45 days.  The cancellation notice stated "underwriting reasons" 

When I called their customer service, the person said that my roof was too old and and a bunch of lies about prrevious damage which I do not have.  They will not give me a copy of the inspection report.  I have filed a complaint with the Insurance Commissioner.  I have asked them to force them to give me at least 45 days so that I can apply to Citizens and I want a copy of that report.  I am pretty sure the inspector did not notate any damage or he would have mentioned it to me.  They are all about getting your money.  The cancellation notice says they wil refund some of the money within 15 business days, (Nov. 11). 

I will probably have to file another complaint for that to happen.  Do not sign up with them, especially if you live in an area that only Citizens insures.  I believe they intended to cancel me as soon as they found out that State Farm would not write windstorm where I live.  I really didn't want to go with them, but I had no choice.  Now I am facing force placed insurance from my bank.   This has been a nightmare.  If I have to sell my home because of this, I will never take out another mortgage and be forced into a situation like this.  I would rather live in a trailer that is paid for and not be at the mercy of the banks and insurance companies ever again.  The only good side to my story is that I am not under water so I can at least move and I probably will.

This report was posted on Ripoff Report on 10/06/2013 08:42 PM and is a permanent record located here: https://www.ripoffreport.com/reports/peoples-trust-insurance-company/florida-33487/peoples-trust-insurance-company-windstorm-cancellation-notice-less-than-30-days-boca-rat-1089945. 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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REBUTTALS & REPLIES:
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#3 Author of original report

Rip Off Report does not include my complaint

AUTHOR: anonymous - ()

POSTED: Friday, October 11, 2013

After I read your complaint, I filed one about how Peoples Trust took $2,050 of my money and then cancelled me, giving me 20 days notice which the Insurance Div. said they can do.  To make a long story short Citizens accepted me and found none of the things that Peoples Trust said were on my Inspection done by them.  They won't give me a copy so I asked the state to demand a copy from them.  Their reason for cancelling me was "Underwriting".  When I called them they made up a bunch of lies and said they have a radar xray device which can see past ceilings and that I have water damage, which is such a joke. The truth is they are just like the other insurance companies and don't want to insure the same people for windstorm that State farm and others won't insure.  They must have gotten some money from some politician.  Anyway, the reason I am writing this under your complaint is that Ripoff says my report is there but it is not. When you pull up Peoples Trust, yours is the only one there and a couple of other comments.  By the way, if you call Peoples Trust there prompt now asks you if you have a Citizens policy or Peoples Trust, so the state must have made a deal with them to take Citizens policies. Good luck to those people.  There is a Miami Herald article about them saying they gave huge donations to our governor's campaign.  Anyway, good luck to you, I will be with Citizens.  At least they have you do an inspection first before they sign you up.  Peoples Trust takes your money, signs you up then makes up stuff to cancel you and they hold your refund for 15 business days after the  20 day cancellation date.

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#2 Author of original report

Thank you for your advice....but

AUTHOR: anonymous - ()

POSTED: Monday, October 07, 2013

 I can use all the input I can get right now.  I did call an independent agent this morning and she told me that unless Citizens takes me, she doesn't have any other options.  You stated you live in the next county up...must be Martin County.  Two different worlds between Martin County and Broward.  I have a friend who lives in a pre-fab trailer like home on the St. Lucie River in Stuart and he tells me he has no trouble getting windstorm insurance - and a trailer mind you (which by the way did not have that much damage during Hurricane Francis which was a category 3 or 4 and stayed over Stuart for 4 days).  The insurance companies completely blow out of proportion the damage so you will have to pay outrageous sums of money.  I am getting a four-point inspection tomorrow which Citizens requires.  There is no access to my attic and my home was built in 1960 and they did not put roof straps on then.  The agent told me the wind mitigation part of the inspection is not necessary because it won't save me that much money.  Hopefully Citizens will accept me, my house is in good condition.  She also told me that she has had several calls from people who have been cancelled by Peoples Trust right after they do their inspections.  Our politicians get campaign funds from them(a fact you can find on the web) and they allow these insurance companies to pick and choose who they want to take.  Why is State Farm allowed to sell me homeowners without windstorm in the first place just because I live east of U.S. 1.  What is wrong with this state. Another fact I learned today, that if you have any amount of mortgage on your house, it could be $5.00, you are required to purchase a homeowner/windstorm policy which covers the entire replacement value of your house, from the ground up.  Your lot is worth nothing as far as the banks are concerned.  And another fact I learned is that all of the condos where I live which is designated a flood zone, if they have a mortgage they have to buy flood insurance, even if they live on the 7th floor.  Is that the most ridculous thing you have ever heard.  Banks and insurance companies are running over people and our government just lets them.  I just want to buy some time and leave this god-forsaken place.  While everyone was asleep, they stole our country.

 

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#1 Consumer Comment

Sounds like you had the wrong inspection done

AUTHOR: FloridaNative - ()

POSTED: Monday, October 07, 2013

For wind insurance here in Florida, you need a wind mitigation inspection done by a neutral third party, not the insurance company. You also need to hire the wind mitigation inspector because you will get a fair and unbiased report. If you have the insurance company do the inspection, they will write a bad report because they can then charge you higher fees or choose not to issue the insurance. Believe me, I'm in the next county up from you (Palm Beach) and have to deal with this all the time because I'm a Realtor and have to help my buyers find good insurance coverage.

Call your Realtor to get a reference for a good wind mitigation inspector AND an insurance broker to get you the best quotes based on the actual condition of your home as revealed by an accurate wind mitigation inspection. The wind mitigation inspections are not expensive at all, but they will save you thousands of dollars per year in insurance.

Citizens is in the process of getting rid of as many customers as they can get rid of so that is not a good solution for you. However, the insurance broker (a good one) will find a good insurance company with good coverage for you. Do this right away. Good luck.

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