If you guys want to see how insurance companies really abuse people, you need to look at how they pay claims. Whatever injustices there are in calculating premiums, they pale in comparison to what they do when a policy holder has a legit claim. Its unreal. I have no idea how they get away with paying out such low amounts. And they do it to everyone, not just the poor.
So true!
Come to coastal NJ/NY and meet with people who were "touched" by Sandy. If you met with 100 people maybe 5 would be OK with their insurance settlement. The remaining 95 will have the same story of receiving about 1/3 of what the claim should have been. We were "touched" and our claim was about $42,000, we received $11,400! Barely enough to replace our furnace and hot water heater.
Oh and our flood insurance rate went up 40%!