this post was submitted on 06 Oct 2025
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Homeowner's insurance is worse, almost as bad as health insurance. Try getting them to pay out, and if they do, watch your rates go up, or your policy get cancelled. If you have a mortgage, you must have homeowner's insurance. State Farm cancelled me out of the blue after 25 years without a single claim.
I suspect they all conspire to cancel policies, knowing that we need to go somewhere, so State Farm cancels a customer, and they go to Allstate at a much higher rate, and Allstate cancels a different customer, and they go to State Farm at a much higher rate. This forces the customer to go through a new approval process, and sign a new contract that is probably worse for them than they had before, in addition to being a higher rate.
Oh my God, you probably don't want to get me started on that. Here it is literally (in the original meaning of the word) a scam. Companies incorporate, take in premiums, pay themselves big bonuses, then say they are not financially flush enough to cover claims, go bankrupt and THE SAME PEOPLE come back and do it again. It is a racket designed to extract money, they don't even reliably pay claims, thankfully I don't have personal experience with having to use them, but have read enough industry news.
I have paid enough in home insurance to buy a house. We pay for the last 40 years a rate that would imply each house in Florida is completely wiped out every 40 years but my old house is 100 this year, our current house is 85. What the state charges probably is close to the actual risk, and if we just put EVERYONE onto that plan and ran it as a nonprofit it would work better.
It really does need to be investigated. I believe they use LexisNexis to share data.
You say "try getting them to pay out" and follow up saying you never filed a claim? I've gotten my home insurance to pay out twice, once for a beer that fried a laptop (my fault, but I had coverage for it) and again when a lightning strike took out part of my solar array and some indoor electronics. They've also promptly paid in situations where I wasn't a customer but the beneficiary of a claim and bent over backwards to make sure I was taken care of.
Maybe the problem is using an insurance company that farts out millions of dollars a quarter marketing Gecko, Jan, Jake, Mayhem, or Emu instead of investing that in claims. Though, I'll give a shout-out to my homegirl Jan back when I was in a different situation and a snowplow took a chunk out of my car. Progressive took care of me then while the city took their sweet time making good on the claim against them.