November 26, 2008
House Insurance holding homeowners hostage.
Have you ever wondered why America’s insurance companies have free reign to control so many aspects of our lives, without so much as a slap on the hand? Take Household Content Insurance, for instance. An 82 yr. old business owner of a local nursing home, and 6 other family properties, just canceled out her homeowners policy. The new procedure of having a property review by her local insurance agent, revealed that her home needed to be painted. She was given an ultimatum by the agent, to either get her house painted within a certain allotted time, or her policy would be cancelled. She was outraged to think that after 60 years of being a faithful customer, she would be treated in such a way. So she cancelled her insurance with them, out of principal. The sad thing is that she is now completely unprotected. When will these companies be held to task with regards to honoring the original policy agreement, without penalties or threats. Who’s minding the insurance store? The fact that insurance companies are one of the most powerful lobbying groups in Washington D.C., one might wonder.
