This is a uniquely florida thing. Living up north, recently had to deal with insurance for some damage to my roof from a storm and dealing with the insurance company was reasonably painless (the roofer mostly dealt with them rather than me). Had some damage to a retaining wall that some drunk idiot drove into last year (then drove off, all caught on camera, but didn't get his plate) that insurance paid - no problem. Florida's been implementing all kinds of anti-consumer laws that put all the power in the hands of insurance companies and just screw over the common person. Like, ffs, didn't they just pass a bill recently disallowing contractors from interacting with the insurance company on your behalf? Florida voted for this. 🤷♂
Maybe because any law that may exist regulating insurance companies in this way in FL is unenforced? This seems like "buy cheap, get cheap." Carriers that are a few dollars more per month aren't using their customers and holding a press conference to justify it. Policyholders that don't read and understand what they're signing, unfortunately, bring this on themselves.
SCOTUS's Citizen's United decision made it legal to own politicians. It was the 5 Republican appointed justices that made up the case and then voted for it.
There are two departments in the insurance business. One that takes the money in, and the other that finds any reason possible to not let the money out.
Why do they go after good law abiding citizens but let the criminals go free. We are about to see the age of vigilantism. If cops, government, and politicians don't do their job then what reasons do law abiding citizens have to keep following the rules of society? You have pedophiles in our classrooms, record mass shooting, criminals getting away with stealing thousands of dollars in broad daylight, and good men being abused by the system. What reason, if any, do good people have to follow rules of society if everyone else is doing whatever they want with no repercussion?
Insurance as an industry is a scam practice. First of all they don't take any risks as much as they claim this, it's a lie. When they pay out, the do the Ponzi scheme, using the money from other people, their gathered premiums. The insurance companies have one of the best databases of statistics worldwide, and if some freak event does happen that is outside of their statistics they will do anything to not pay,....take for example the c19 pandemic. There were companies that had specific clauses in their contracts provisioning pandemic. Guess what. Insurance companies refused to pay, using every reason in the book. Literally. a client had a direct pandemic clause. A pandemic occurred. Nope, not gonna pay. Because the sums were astronomical and the money would've been taken out of the insurance company;s money, and that they don't want. Thus proving they don't take any risk, just use a Ponzi scheme. use someone else's money to compensate you until the funds end and the poor sap that gets the short straw has to fight them.
I wouldn't even mind if that was their policy, as long as a. they fix things in a timely manner and b. the people allowed to fix your property are competent. I can actually understand why an insurance company would want their people fixing damage, because they don't know if your contractor is competent. But you can't have it both ways. You can't say, "only use our people", then also say, "Yeah, we'll fix it...eventually." There should be laws regarding how quickly an insurance company can delay before resolving a claim.
It's not just insurance companies. FEMA does the same thing. You can get a loan to BUY a storm shelter for thousands, but you can't get the couple hundred you need to build it yourself.
@@mgreg8134 read the proposed insurance policies before your sign on. I do it all the time. My insurance agent doesn't bat an eye when I ask her to give me a copy to take home so that I can read it though, line by line, so that I am fully aware of what I am signing on for.
Yeah, and if you negotiate the contract with them, you don't have to. I went to my insurance office (State Farm, shout out) and sat with the agent. I talked to him about what I needed and what I expected. We came to an agreement at a price point I was happy with. Part of my contract states that I can do my own repairs. When I fixed my porch, insurance covered it. No problems at all. Why? Because I stipulated what I wanted and they made me an offer. People, I know it's boring, I know it's full of odd language, but READ YOUR CONTRACTS.
The reason the insurance company is suing their customers is because if they lose, the only thing they will have to pay is what they would have had to pay for the repairs in the beginning. They know most people won't or can't afford to hire attorneys so, they literally have nothing to lose. Statistically speaking, It is a win win situation for the insurance company. That is, up until enough customers switch companies. Shameful business practices by most insurance companies.
@@istandwithrussia8254 Ask why insurance companies are leaving Florida then. Climate change. Things are getting way too wild to be profitable, so a bunch are leaving (at least the coastal areas).
The company has already lost alot of these lawsuits. It seems the company is trying to leave the Florida market, they stopped writing new policies in May. This is just a dumb example of big corrupt companies doing stupid stuff. Their business model was predicated on the "their guys doing repairs" model to save money. It failed.
All insurance is a fuckin scam. Pay every month on time or else coverage is dropped. File a claim and wait months for them to try and dodge paying out. Wasted so much money on home and auto and have never filed a claim. Why do I have to pay for bs when it's never used? America is the home of the grift.
The simple fact that the “Process Server” (assuming that they were in fact legal) served a 17 year old minor is illegal and tells You everything You need to know about this shady insurance company and who they use to do their dirty work.
@@tb5096 correct but this is not a Felony and because of that the service of process to a 17 year old minor for an adult related civil case is illegal service of process and had the parents been properly advised legally, they could have sought proper recourse.
Maybe you guys as a news organization can get all the victims together and together they can form their own class action law suit? Just put them all in touch with each other.
She shouldn't need to wait a year for repairs. They are waiting on purpose in order to worsen the damage. "Preferred" does not mean absolute. If the preferred contractor has no vacancy to take more jobs, you don't wait months, you go with the non-preffered, secondary contractors.
All insurance companies will try to get you to settle for less than what the claim is worth. Countersue them for the total cost of damages, emotional damages and your cost for legal expenses in a frivolous case. Find a different insurance company.
FICO is/has been/will be the problem for banking and insurance companies and the abolition of the Glass/Stegal act gave insurance companies POWER and now the chickens are coming home to roost!!!
I was thinking the same thing. After living in a broken down hovel for months and the ins co not willing to talk to them, a Lawyer is their only remaining option. Now they appear to be in breech of contract and looks like they will get nothing.
"Find a different insurance company". It's Florida. There are none worth your time. lmao. None of the worthwhile ones are dumb enough to write policies in Florida. The only companies writing policies in Florida are the ones that do shady shit like this article describes. Give these companies a couple of years and they'll go belly up and be replaced with another shitty insurance company.
That has been the case for ages. Step 1: stocks, which means owners don't care about what the company does, just that it makes money. Step 2: giving corporations rights of people, but not the obligations, together making it such that corporations act like psychopaths: no care about anything but themselves, I.e. their profit. Milton Friedman was a proponent of that companies should only make money and that nutter got a nobel prize, though for something else (a simple 'theory' about money which is dead-obvious...). It was not his idea that companies and thus also individuals running them, should go for just their own selfish goals, Ayn Rand wrote the same in Atlas shrugged (which I call the psychopaths bible), in 1957...
@@WHS_reviews exactly. they run around bragging about their investments, eyes glued to the exchange news... buy buy! sell sell! invest invest! record breaking profit! industry leading giants! takeover bids! buyouts! "geee, why does my bank charge me exorbitant fees, close branches, remove cash from the currency circulation, and try making money?" "gee, why does the airline service i rely on keep cancelling flights and selling me frequent flier points that it then claims arent sufficient due to policy changes?" "hang on, why does the CEO get a 14M payout when he resigns after all the noise about the corruption and the tax avoidance and the overseas investments in foreign property?" "why is the apartment block with cracks and foundation flaws get advertised as "five star luxury" and apartments sold at 2.5M each when just a few weeks ago we were being told about how it was illegally constructed without approval, and the CEO of the company has thrown all his money into his wifes name, thrown it into offshore accounts, then fled back home to lebanon where he then claims welfare from us, and GETS IT?" "oh my, they got money. lots of it. by screwing everyone over and being an arsehole. lets all bow down in obeisance..." all i know is... you cant eat money, cant eat gold, and digits on a server somewhere are completely free from any nutritional value whatsoever. i remind myself of this everytime i look at the garden...
@@WHS_reviews yup, profits based on stock performance, and executives getting paid through stock-options so the better the stock does- more money in the pockets of executives (and shareholders, but not very impactful compared with executive shares). crushing the middle class is a requirement in this scenario- inflated profits have to come from somewhere (usually layoffs that aren't really needed)
That sounds like a big ass scam to me. I bet that contractor has ties with someone high up at the insurance company or at the least their getting kickbacks.
Having dealt with insurance companies for a number of years in the auto glass industry, they usually pick their preferred shops or contractors by who is willing to do the work at the insurance companies price. This usually leads to companies using substandard parts and practices to cut their cost so they can make a profit.
Friends who did go with contractors of the insurance companies choosing kept getting pushback from the insurance company and had to remind them "You told me to go with them." Then they'd say, "I know. But we will never use them again." Friends felt like they couldn't win for losing and contractors still didn't fix everything that they were supposed to so she had to hire others to finish the repairs. Their home is almost completed from Ian damage.
I’ve heard of life insurance companies doing this but they sued the people that inherited after the policy holder passed. Never heard of homeowner insurance suing the homeowner. Always something.
I hope each one of those people countersu the insurance company for at least a half a million a piece, and make sure you start exposing the people's names and addresses of these insurance companies that are doing this The more you expose these people the more this type of behavior will stop
Each state may be different but in most states The Insurance Company has a very small window of time to fix the homeowners damage , it sounds like this woman has been waiting for almost a year ?
I would think there is more of a grace period in the event of a hurricane cause there's so many people that need repairs and so many contractors to go around. Apparently even less now that they only want their own contractors
I know where I am flooding does not get covered under homeowner's insurance. But when we had 3 trees get struck by lightning and the lightning travel to the power lines coming into our home, destroying all electronic devices in the house plugged in including phones and routers, it was covered under our USAA policy. They are the very best. But you gotta be a military vet or family member of one.
@@autumnmoonfire3944 I don't think that's the case any more. I believe USAA opened up to non-military familes a few years ago. There has been an associated decline in service from them as well.
BOO HOO !! so the insurance company didn't get their kickback!!! and why wait till THEIR company is available?? as long as the prices are comparable, WHO CARES!!! maybe they were even cheaper. just cut the checks, you already charge too much and cover less and less.
It doesn't matter what the contract says if its brought before a judge they consumer will win 100%. The insurance company has the "right" to repair the home in the contract but if its not done within a reasonable amount of time then they lose that right. Once it's proven its been a year and the insurance company has refused to repair the house then the judge is going to void their right to repair.
What are the damages to the insurance company for them to sue their insured? At best the argument probably is that it cost more to do a repair! It would seem to me that at worst, the insurance company could offer to pay for only a portion of the repairs with the other contractor. If they can prove, the other contractor is over priced. I cannot imagine the homeowner owing their insurance company because the homeowner paid to repair their own house. This needs a counterclaim.
Peoples trust doesn't understand that the bad publicity with today's internet is going to cost them way more money than 100 people repairing their home with a different contractor
Florida seems like a shitty place to buy a home at. A lot of natural disasters and insurance companies are pulling out. Leaving you 1 or 2 companies that will burn you if you ever have to use it.
Yeah, well if the insurance company is retaining the right to repair my question is why didn’t they start repairing those homes in a timely manner? It seems like the insurance company was dragging their feet, forcing the homeowner to live in a damaged home shame on the insurance company.
Lol... My parents used to yell at me all the time about not having insurance.... I realized a long time ago that it was a racket. A "legal" scam. I rent. I ride the bus and I save a ton of money on my insurance by refusing to play their game.
I own a restoration company people can use any contractor they want the insurance has to pay the estimated and reasonable cost of replacing and repairing
So the insurance company has a group of contractors you must use because they likely own those contractors, so they are double dipping, meanwhile the people effected are waiting around to get their home fixed because the insurance company has likely a limited number of contractors. What a scam.
They focus on this technicality of having the right to repair instead of paying out as they save money on it, but they ignore the "in a timely manner" requirements. If an insurer breaches the implied or explicit term to pay an insurance claim within a “reasonable time”, the policyholder will be entitled to claim not only the sum due under the insurance policy (together with accrued interest on that sum), but also damages for any foreseeable losses suffered as a result of the insurer’s late payment.
I say give insurance company's a grace period to get the quotes and a contractor on site, big disasters, more time. In the end tho, after 'x' weeks or 'x' months, the repair should be underway or the company owes you 'x' amount each day it goes un addressed. Your home is worth money, you paid for the insurance, its your sanctuary, you shouldn't have to wait 6 months to a year only to be sued because you wanted to live in a house that wasnt falling apart and you took the initiative to start the work.
Soooo, an insurance company is spending money to take people to court for fixing their homes almost a year after it was damaged instead of spending that money on fixing the homes in the first place? Sounds about right...
About corporate KICKBACKS to contractors. that can't work fast enough, with integrity, so just means for Ins. company to recoup loss from loyal customers.
Seems like a good way for the Insurance Company to create a bottleneck in claims if only a handful of contractors are authorized to make repairs. Slow the claims process, reduce the risk of having to make a massive payout in a short period of time.
Insurance companies already have enough power in their pocket. I'd say we the people need to start taking our powers back. They do not get to dictate who fixes. Who's home that is up to the homeowner? This insurance company is stepping out of bounds and they need to be penaltied for it.
The verbiage Is in the policy. It states that the insurance company will perform the repairs with its contractors. People need to read every line and consult an attorney prior to accepting the policy. What's probably not in the policy is verbiage that says the policy holder can hire his own contractors should the insurance company fail to make the repairs within a stated amount of time and that is on purpose.
After a hurricane it’s easy to see how this clause would be a complete disaster, it should never have been allowed in the first place, this is blaming the victim.
Nothing says freedom of choice like being forced to accept what are almost certainly under quality options who all paid to get on the list and are probably cutting costs to profit more.
3:12 In the repair clause its worded like this "OUR ACCEPTANCE of your estimated scope of repair shall be binding". He didn't break the contract because they never accepted his repair estimate.
Abandon an area, they lose nothing, but if a class action group of home owners sue, they have a Egyptian army of lawyers to chase the people they lost.
So basically the insurer put a "gotcha clause" inside the contract. The slow walk the repairs and then when you decide to fix it on your own with one phone call they hit you with a lawsuit.
I think they delayed so long with fixing these people's homes just so the homeowners would be forced to go outside and get a different contractor, so that the insurance company could then pull this crap and sue them. It's a complete scam! I would form a group class action lawsuit against them as a scammer.
This reminds me about the incident with electric companies when super storm Sandy hit if I recall correctly. Basically thousands of people were without power for about 2 weeks or so, and yet the power companies still billed the people for those days by, get this, comparing their usage of the same time from the previous year, and making it as the one for that year.
Insurance company says they have to use Steve the Contractor or they aren't paying. Most insurance companies (including auto) do what's at 2:29. They will pay for everything if you use someone they trust otherwise they will have someone assess the damage and lowball the estimate and give you a check for that. The worst is health insurance, that can reject you if you are not profitable or simply won't pay something because they don't believe you are sick/injured or have cancer.
Ever since OBamacare came in the insurance industry owns the doctors and hospitals. Lord forbid, you knew what you would be charged before you went in. Then the insurance tells the doctors what they will pay for and what they will not pay for. They are wanting telemedicine; I wonder how that works for a pelvic exam.
What’s ridiculous is having to sue the insurance company in order to get the payout they are responsible for. Family in Galliano Louisiana are still fighting to get repair for Ian.
I’m just a little flooring contractor but I do see both sides. Insurance companies being so big and with so many houses damaged at once they will get a cut rate to lock in a bunch of contractors promising the extra work. Some of us Contractors also have been known to take advantage of a situation like this knowing everyone is desperate to get their home fixed right now. So instead of a cut rate it’s a good time to charge a premium much higher than normal times because the customer doesn’t care it’s not there money 😂 So instead of getting a deal or even paying standard price now everyone is getting over charged which adds up quick.
Remember right to repair is one of the latest hot topics (civil forfeitures is too) not just limited to insurance and your home this now includes farming equipment (John Deere) and phones.
I did a small job where the insurance company sent idiots to do the work. They spent much of their time smoking pot in their van, did not tidy up after a day’s work, (this was a funeral home), and left a pile of trash on the sidewalks.
I can understand the insurance company wanting to do the repairs themselves for it to be cheaper IF they can get it done timely. If they cant and they still want to do the repairs instead of give an actual settlement that will repair the house prior to damage then the insurance company should be responsible for a daily inconvenience fee
The courts need to force the removal of the right to repair clause from all Florida insurance providers. They are there solely to provide financial relief in the event of an emergency. Not determine what contactor gets the job.
Insurance is nothing more than legalized racketeering.
Break up FICO!! Insurance companies will then take it up the ass!!
And forced upon you.
This is a uniquely florida thing. Living up north, recently had to deal with insurance for some damage to my roof from a storm and dealing with the insurance company was reasonably painless (the roofer mostly dealt with them rather than me). Had some damage to a retaining wall that some drunk idiot drove into last year (then drove off, all caught on camera, but didn't get his plate) that insurance paid - no problem.
Florida's been implementing all kinds of anti-consumer laws that put all the power in the hands of insurance companies and just screw over the common person. Like, ffs, didn't they just pass a bill recently disallowing contractors from interacting with the insurance company on your behalf? Florida voted for this. 🤷♂
@@absentmindedjwcIt's painless as long as you use their preferred companies.
@@mgreg8134 Not in my state. I was able to use whoever I wanted.
Here's what I don't understand: It's illegal for a car insurer to require you to use a repair shop of their choice, why is it ok for home insurance?
I was thinking the same thing. My auto ins recommended their preferred contractors, but told me I can choose anyone I want.
Maybe because any law that may exist regulating insurance companies in this way in FL is unenforced?
This seems like "buy cheap, get cheap." Carriers that are a few dollars more per month aren't using their customers and holding a press conference to justify it. Policyholders that don't read and understand what they're signing, unfortunately, bring this on themselves.
It's not
SCOTUS's Citizen's United decision made it legal to own politicians. It was the 5 Republican appointed justices that made up the case and then voted for it.
talk to your politicians who are purchased by insurance companies
There are two departments in the insurance business. One that takes the money in, and the other that finds any reason possible to not let the money out.
Same for health insurance.
@@Meela234 So... the insurance business.
Ah, like a check valve. The checks from policy holders flow in; checks from the insurance company don't flow out.
Let's just make this all a public business and ban private entities from selling insurance. that should fix it.
Why do they go after good law abiding citizens but let the criminals go free.
We are about to see the age of vigilantism. If cops, government, and politicians don't do their job then what reasons do law abiding citizens have to keep following the rules of society?
You have pedophiles in our classrooms, record mass shooting, criminals getting away with stealing thousands of dollars in broad daylight, and good men being abused by the system.
What reason, if any, do good people have to follow rules of society if everyone else is doing whatever they want with no repercussion?
So now we need to buy insurance to protect us from insurance companies.
DON'T GIVE THEM ANY IDEAS!!!!!!
They call that a Lawyer.
I'll sell you some of that.
Insurance as an industry is a scam practice.
First of all they don't take any risks as much as they claim this, it's a lie.
When they pay out, the do the Ponzi scheme, using the money from other people, their gathered premiums.
The insurance companies have one of the best databases of statistics worldwide, and if some freak event does happen that is outside of their statistics they will do anything to not pay,....take for example the c19 pandemic. There were companies that had specific clauses in their contracts provisioning pandemic. Guess what. Insurance companies refused to pay, using every reason in the book. Literally. a client had a direct pandemic clause. A pandemic occurred. Nope, not gonna pay. Because the sums were astronomical and the money would've been taken out of the insurance company;s money, and that they don't want.
Thus proving they don't take any risk, just use a Ponzi scheme. use someone else's money to compensate you until the funds end and the poor sap that gets the short straw has to fight them.
insurance insurance
It sounds to me like they’ve got one contractor to take care of all their business and they’re probably getting kickbacks for using them
Oh, Shiralee Knotte
An insurance company should not be able to dictate to you who repairs your house to insurance company that is called cornering the market
It happens all the time and is usually written right into your policy , even though some states like mine have laws against it.
I wouldn't even mind if that was their policy, as long as a. they fix things in a timely manner and b. the people allowed to fix your property are competent.
I can actually understand why an insurance company would want their people fixing damage, because they don't know if your contractor is competent. But you can't have it both ways. You can't say, "only use our people", then also say, "Yeah, we'll fix it...eventually." There should be laws regarding how quickly an insurance company can delay before resolving a claim.
It's not just insurance companies. FEMA does the same thing. You can get a loan to BUY a storm shelter for thousands, but you can't get the couple hundred you need to build it yourself.
@@mgreg8134 read the proposed insurance policies before your sign on. I do it all the time. My insurance agent doesn't bat an eye when I ask her to give me a copy to take home so that I can read it though, line by line, so that I am fully aware of what I am signing on for.
Yeah, and if you negotiate the contract with them, you don't have to. I went to my insurance office (State Farm, shout out) and sat with the agent. I talked to him about what I needed and what I expected. We came to an agreement at a price point I was happy with. Part of my contract states that I can do my own repairs. When I fixed my porch, insurance covered it. No problems at all. Why? Because I stipulated what I wanted and they made me an offer. People, I know it's boring, I know it's full of odd language, but READ YOUR CONTRACTS.
The reason the insurance company is suing their customers is because if they lose, the only thing they will have to pay is what they would have had to pay for the repairs in the beginning. They know most people won't or can't afford to hire attorneys so, they literally have nothing to lose. Statistically speaking, It is a win win situation for the insurance company. That is, up until enough customers switch companies. Shameful business practices by most insurance companies.
What other insurance companies? Like California Insurance companies are leaving due to the climate change
Attorney here. They do it solely to give their outside counsel business. It has nothing to do with anything else.
@@captngpffft climate change my srse
@@istandwithrussia8254 Ask why insurance companies are leaving Florida then. Climate change. Things are getting way too wild to be profitable, so a bunch are leaving (at least the coastal areas).
@@Sunlest Florida has always had bad weather and California was always susceptible to fires has nothing to do with climate change
The company has already lost alot of these lawsuits. It seems the company is trying to leave the Florida market, they stopped writing new policies in May. This is just a dumb example of big corrupt companies doing stupid stuff. Their business model was predicated on the "their guys doing repairs" model to save money. It failed.
Homeowner's insurance is such a scam.
So is auto insurance!! Break up FICO,problem solved!!!
All insurance is a fuckin scam. Pay every month on time or else coverage is dropped. File a claim and wait months for them to try and dodge paying out. Wasted so much money on home and auto and have never filed a claim. Why do I have to pay for bs when it's never used? America is the home of the grift.
The simple fact that the “Process Server” (assuming that they were in fact legal) served a 17 year old minor is illegal and tells You everything You need to know about this shady insurance company and who they use to do their dirty work.
17 is not a minor
@@tb5096 I don’t know where You live but here in the State of Florida UNDER FLORIDA LAW You are not a legal Adult until You turn 18.
@@KevinGonzalez-vz7rz “in most cases” a felony would not be one of them depending on what the state chose to do had charges been filed
@@tb5096 correct but this is not a Felony and because of that the service of process to a 17 year old minor for an adult related civil case is illegal service of process and had the parents been properly advised legally, they could have sought proper recourse.
@@KevinGonzalez-vz7rzexcept if it was that simple they would have done it
Maybe you guys as a news organization can get all the victims together and together they can form their own class action law suit? Just put them all in touch with each other.
Good idea
On board
It's already public info.
The residents just need to file a complaint with the state AG office.
@@cobeeble not the names or contact info of the others impacted, which is what they were suggesting
She shouldn't need to wait a year for repairs. They are waiting on purpose in order to worsen the damage.
"Preferred" does not mean absolute. If the preferred contractor has no vacancy to take more jobs, you don't wait months, you go with the non-preffered, secondary contractors.
All insurance companies will try to get you to settle for less than what the claim is worth.
Countersue them for the total cost of damages, emotional damages and your cost for legal expenses in a frivolous case.
Find a different insurance company.
FICO is/has been/will be the problem for banking and insurance companies and the abolition of the Glass/Stegal act gave insurance companies POWER and now the chickens are coming home to roost!!!
I was thinking the same thing. After living in a broken down hovel for months and the ins co not willing to talk to them, a Lawyer is their only remaining option. Now they appear to be in breech of contract and looks like they will get nothing.
"Find a different insurance company". It's Florida. There are none worth your time. lmao. None of the worthwhile ones are dumb enough to write policies in Florida. The only companies writing policies in Florida are the ones that do shady shit like this article describes. Give these companies a couple of years and they'll go belly up and be replaced with another shitty insurance company.
If "all insurance companies" do this, how would finding a different one help?
@@tm2jetfire takes your monthly premiums elsewhere
Guarantee when they lose your policy gets canceled.
It's called conflict of interest.
So? Would you want an insurance after this with that company?
Its because all company's today are 'for profit' to the exclusion of rationality, ethics, etc...
That has been the case for ages. Step 1: stocks, which means owners don't care about what the company does, just that it makes money. Step 2: giving corporations rights of people, but not the obligations, together making it such that corporations act like psychopaths: no care about anything but themselves, I.e. their profit. Milton Friedman was a proponent of that companies should only make money and that nutter got a nobel prize, though for something else (a simple 'theory' about money which is dead-obvious...). It was not his idea that companies and thus also individuals running them, should go for just their own selfish goals, Ayn Rand wrote the same in Atlas shrugged (which I call the psychopaths bible), in 1957...
@@WHS_reviews exactly. they run around bragging about their investments, eyes glued to the exchange news... buy buy! sell sell! invest invest!
record breaking profit! industry leading giants! takeover bids! buyouts!
"geee, why does my bank charge me exorbitant fees, close branches, remove cash from the currency circulation, and try making money?"
"gee, why does the airline service i rely on keep cancelling flights and selling me frequent flier points that it then claims arent sufficient due to policy changes?"
"hang on, why does the CEO get a 14M payout when he resigns after all the noise about the corruption and the tax avoidance and the overseas investments in foreign property?"
"why is the apartment block with cracks and foundation flaws get advertised as "five star luxury" and apartments sold at 2.5M each when just a few weeks ago we were being told about how it was illegally constructed without approval, and the CEO of the company has thrown all his money into his wifes name, thrown it into offshore accounts, then fled back home to lebanon where he then claims welfare from us, and GETS IT?"
"oh my, they got money. lots of it. by screwing everyone over and being an arsehole. lets all bow down in obeisance..."
all i know is... you cant eat money, cant eat gold, and digits on a server somewhere are completely free from any nutritional value whatsoever. i remind myself of this everytime i look at the garden...
@@WHS_reviews yup, profits based on stock performance, and executives getting paid through stock-options
so the better the stock does- more money in the pockets of executives (and shareholders, but not very impactful compared with executive shares). crushing the middle class is a requirement in this scenario- inflated profits have to come from somewhere (usually layoffs that aren't really needed)
That sounds like a big ass scam to me. I bet that contractor has ties with someone high up at the insurance company or at the least their getting kickbacks.
Having dealt with insurance companies for a number of years in the auto glass industry, they usually pick their preferred shops or contractors by who is willing to do the work at the insurance companies price.
This usually leads to companies using substandard parts and practices to cut their cost so they can make a profit.
Of course.
You will vote to deregulate and give them more tax cuts so who cares.
they're
Friends who did go with contractors of the insurance companies choosing kept getting pushback from the insurance company and had to remind them "You told me to go with them." Then they'd say, "I know. But we will never use them again." Friends felt like they couldn't win for losing and contractors still didn't fix everything that they were supposed to so she had to hire others to finish the repairs. Their home is almost completed from Ian damage.
I’ve heard of life insurance companies doing this but they sued the people that inherited after the policy holder passed. Never heard of homeowner insurance suing the homeowner. Always something.
This is so ridiculous but yet it still happening😢
What is ridiculous is that our premiums are going up yet we had no claims. Premiums should only go up for the ones that make a claim.
Why be surprised, it's not Woke so the governor they elected doesn't care🤣😂🤣
Unreal. And to think nearly a year later work wasn't done on the property and they are the one's being sued.
If the name of an insurance is people's trust the name itself should make you think twice
Just like the countries that use the names “Democratic Republic of ...” If they have to say it, they aren’t!
Sort of like when a country is called "The People's republic of (Insert name of dictatorship here), you know they are lying.
People's Trust, the irony.
Not irony, advertising BS
I hope each one of those people countersu the insurance company for at least a half a million a piece, and make sure you start exposing the people's names and addresses of these insurance companies that are doing this The more you expose these people the more this type of behavior will stop
Looks like Peoples Trust didn't get their kickbacks
Insurance company needs to be investigated for kickbacks from 'their' contractors.
Each state may be different but in most states The Insurance Company has a very small window of time to fix the homeowners damage , it sounds like this woman has been waiting for almost a year ?
I would think there is more of a grace period in the event of a hurricane cause there's so many people that need repairs and so many contractors to go around. Apparently even less now that they only want their own contractors
In North Carolina the insurance companies make the rules
@@user-rg7rz7su3utime for change.
They DO NOT HAVE TO USE AN INSURANCE COMPANIES CONTRACTORS EVEN WHEN DEALING WITH CAR INSURANCE
Apparently it was in their contract. Unless that is illegal in the area they are in, it is legally binding.
I know where I am flooding does not get covered under homeowner's insurance. But when we had 3 trees get struck by lightning and the lightning travel to the power lines coming into our home, destroying all electronic devices in the house plugged in including phones and routers, it was covered under our USAA policy. They are the very best. But you gotta be a military vet or family member of one.
I agree they are pretty good. Used to be better, but still good.
If you have to be a vet or family member they should say that in their commercials, I did not know that!
@@autumnmoonfire3944 I don't think that's the case any more. I believe USAA opened up to non-military familes a few years ago. There has been an associated decline in service from them as well.
Why would I want an insurance that doesn’t even cover natural disasters?
you can then only imagine what deal the insurance company has with the fixers to cut costs or duct tape fixes
BOO HOO !! so the insurance company didn't get their kickback!!! and why wait till THEIR company is available?? as long as the prices are comparable, WHO CARES!!! maybe they were even cheaper. just cut the checks, you already charge too much and cover less and less.
It doesn't matter what the contract says if its brought before a judge they consumer will win 100%.
The insurance company has the "right" to repair the home in the contract but if its not done within a reasonable amount of time then they lose that right.
Once it's proven its been a year and the insurance company has refused to repair the house then the judge is going to void their right to repair.
What are the damages to the insurance company for them to sue their insured? At best the argument probably is that it cost more to do a repair! It would seem to me that at worst, the insurance company could offer to pay for only a portion of the repairs with the other contractor. If they can prove, the other contractor is over priced. I cannot imagine the homeowner owing their insurance company because the homeowner paid to repair their own house. This needs a counterclaim.
Good ol' DeSantis, letting insurance companies sue their customers for being alive and paying the bill every month to file a claim.
Peoples trust doesn't understand that the bad publicity with today's internet is going to cost them way more money than 100 people repairing their home with a different contractor
Florida seems like a shitty place to buy a home at. A lot of natural disasters and insurance companies are pulling out. Leaving you 1 or 2 companies that will burn you if you ever have to use it.
One of the arguments against having insurance: if you have it and submit a claim, they won't pay you anyway.
Yeah, well if the insurance company is retaining the right to repair my question is why didn’t they start repairing those homes in a timely manner? It seems like the insurance company was dragging their feet, forcing the homeowner to live in a damaged home shame on the insurance company.
Lol... My parents used to yell at me all the time about not having insurance.... I realized a long time ago that it was a racket. A "legal" scam. I rent. I ride the bus and I save a ton of money on my insurance by refusing to play their game.
I own a restoration company people can use any contractor they want the insurance has to pay the estimated and reasonable cost of replacing and repairing
So the insurance company has a group of contractors you must use because they likely own those contractors, so they are double dipping, meanwhile the people effected are waiting around to get their home fixed because the insurance company has likely a limited number of contractors.
What a scam.
Insurance contracts are unilateral contracts and the customer has more rights than company. Stay strong
I would never ever use any kind of repair service company that an insurance company requested. That is a major conflict of interest
They focus on this technicality of having the right to repair instead of paying out as they save money on it, but they ignore the "in a timely manner" requirements.
If an insurer breaches the implied or explicit term to pay an insurance claim within a “reasonable time”, the policyholder will be entitled to claim not only the sum due under the insurance policy (together with accrued interest on that sum), but also damages for any foreseeable losses suffered as a result of the insurer’s late payment.
This sucks and it looks like it's time to get out of Florida
They don’t have the assets to cover all of the repairs being claimed. If they can try to force you to roll over, they will save their money.
I say give insurance company's a grace period to get the quotes and a contractor on site, big disasters, more time. In the end tho, after 'x' weeks or 'x' months, the repair should be underway or the company owes you 'x' amount each day it goes un addressed. Your home is worth money, you paid for the insurance, its your sanctuary, you shouldn't have to wait 6 months to a year only to be sued because you wanted to live in a house that wasnt falling apart and you took the initiative to start the work.
Obviously, they're getting kickbacks from the Contractor.
The US really needs to tighten it's regulations across all financial sectors.
Soooo, an insurance company is spending money to take people to court for fixing their homes almost a year after it was damaged instead of spending that money on fixing the homes in the first place? Sounds about right...
Thanks for the link the 2nd part of this series 🙃
They cannot require you to use their contractor.
That is a conflict of interest.
This is literally what i do for a living.
They will win this suit 💯
About corporate KICKBACKS to contractors. that can't work fast enough, with integrity, so just means for Ins. company to recoup loss from loyal customers.
Yes we have a winner
Insurance companies stopped being insurance companies a long time ago..
They know u have to have coverage to get a mortgage...buy a car etc...
Seems like a good way for the Insurance Company to create a bottleneck in claims if only a handful of contractors are authorized to make repairs. Slow the claims process, reduce the risk of having to make a massive payout in a short period of time.
I guess what we’re learning from the actions of this “insurance” company is that we should never do business with them.
Insurance companies already have enough power in their pocket. I'd say we the people need to start taking our powers back. They do not get to dictate who fixes. Who's home that is up to the homeowner? This insurance company is stepping out of bounds and they need to be penaltied for it.
It doesn’t sound to me like they’re hiring any contractor it sounds to me like they’re hiring their own personal contractor to do the jobs for them
The verbiage Is in the policy. It states that the insurance company will perform the repairs with its contractors. People need to read every line and consult an attorney prior to accepting the policy.
What's probably not in the policy is verbiage that says the policy holder can hire his own contractors should the insurance company fail to make the repairs within a stated amount of time and that is on purpose.
😆😆😆😆😆😆😆
After a hurricane it’s easy to see how this clause would be a complete disaster, it should never have been allowed in the first place, this is blaming the victim.
Nothing says freedom of choice like being forced to accept what are almost certainly under quality options who all paid to get on the list and are probably cutting costs to profit more.
3:12 In the repair clause its worded like this "OUR ACCEPTANCE of your estimated scope of repair shall be binding". He didn't break the contract because they never accepted his repair estimate.
They should be able to defend themselves collectively, just like class action if they were suing.
Keep in mind that if this insurance company starts to go under the state will use taxpayers money to bail them out.
“Peoples Trust”. Can’t imagine why the insurance suck on all fronts.
people's trust they probably have several million dollar homes now and several million dollar yacht's !!!
Thank you very much for State legislature stating that they can sue us.
The insurance companies made this Catch 22 situation on purpose... pay very little or not at all.
Boy... they sure know how to retain happy customers, dont they.
They just alienate all there customers... I'll bet they looses millions
Abandon an area, they lose nothing, but if a class action group of home owners sue, they have a Egyptian army of lawyers to chase the people they lost.
So basically the insurer put a "gotcha clause" inside the contract.
The slow walk the repairs and then when you decide to fix it on your own with one phone call they hit you with a lawsuit.
This is the definition of "steering" and steering within insurance is illegal. How is this allowed?
I think they delayed so long with fixing these people's homes just so the homeowners would be forced to go outside and get a different contractor, so that the insurance company could then pull this crap and sue them. It's a complete scam! I would form a group class action lawsuit against them as a scammer.
So glad we got out of Florida. It’s just not worth it.
We had to pay a little more to not be forced to use the contractors of the insurance company's choice. It was worth the extra money.
People's Trust - "Trust us with your insurance and we will be seeing you in person at your local courthouse."
Always said: insurance companies hold an umbrella for you … until it starts to rain ☔️
This reminds me about the incident with electric companies when super storm Sandy hit if I recall correctly. Basically thousands of people were without power for about 2 weeks or so, and yet the power companies still billed the people for those days by, get this, comparing their usage of the same time from the previous year, and making it as the one for that year.
Insurance company says they have to use Steve the Contractor or they aren't paying. Most insurance companies (including auto) do what's at 2:29. They will pay for everything if you use someone they trust otherwise they will have someone assess the damage and lowball the estimate and give you a check for that. The worst is health insurance, that can reject you if you are not profitable or simply won't pay something because they don't believe you are sick/injured or have cancer.
Ever since OBamacare came in the insurance industry owns the doctors and hospitals. Lord forbid, you knew what you would be charged before you went in. Then the insurance tells the doctors what they will pay for and what they will not pay for. They are wanting telemedicine; I wonder how that works for a pelvic exam.
Get that crook into court on fraud charges.
Sue the Sh!+ out of the insurance company
What’s ridiculous is having to sue the insurance company in order to get the payout they are responsible for. Family in Galliano Louisiana are still fighting to get repair for Ian.
Everyone who has this insurance in Florida needs to drop them immediately!.
I know someone who couldn't get a quote from a contractor until he seen what the insurance was willing to pay its all a scam
I’m just a little flooring contractor but I do see both sides. Insurance companies being so big and with so many houses damaged at once they will get a cut rate to lock in a bunch of contractors promising the extra work. Some of us Contractors also have been known to take advantage of a situation like this knowing everyone is desperate to get their home fixed right now. So instead of a cut rate it’s a good time to charge a premium much higher than normal times because the customer doesn’t care it’s not there money 😂 So instead of getting a deal or even paying standard price now everyone is getting over charged which adds up quick.
Legitimate contractors apply for permits and those permits are public record that's how they found out
So where is your insurance commissioner?
It's getting to a point that anytime you file a claim you have to have a lawyer do it for you right off the bat.
Insurance companies don't seem to understand the concept of " diminishing returns " or they just don't care.
Remember right to repair is one of the latest hot topics (civil forfeitures is too) not just limited to insurance and your home this now includes farming equipment (John Deere) and phones.
Sue your customers. That's a great way to go out of business.
What a bunch of scammers. I hope they go under. After losing this case to the insureds and paying out, of course.
Peoples trust is an oxymoron 😡
I did a small job where the insurance company sent idiots to do the work. They spent much of their time smoking pot in their van, did not tidy up after a day’s work, (this was a funeral home), and left a pile of trash on the sidewalks.
Wow I used to work as an agent selling this companys policies and we always wondered what would happen in this situation.
The home insurance often denies claims or plainly refuse to acknowledge damages altogether
Ive heard of in network doctors but IN NETWORK construction companies?
I can understand the insurance company wanting to do the repairs themselves for it to be cheaper IF they can get it done timely. If they cant and they still want to do the repairs instead of give an actual settlement that will repair the house prior to damage then the insurance company should be responsible for a daily inconvenience fee
As it is with police and federal people insurance company should have true transparency
People's trust, weird name for a libelous insurance company
Thisis why insurance is so high. They lose in court. So now they have to pay lawyers also
The courts need to force the removal of the right to repair clause from all Florida insurance providers. They are there solely to provide financial relief in the event of an emergency. Not determine what contactor gets the job.
What corporate America taking advantage say it isn't so. Better call Ron.
😢 , sounds like it's getting twice as risky to live in hurricane prone areas ! 😮