Unofficialbmw.com

[edjack]

Article in this weeks' AutoWeek talked about State Farm disallowing insurance coverage for extensively modified cars. Seems they are trying to counter the Ricers out there, who do much to their Japanese cars, and then go street racing, much to the dismay of State Farm.

It's a No-win situation: if you don't tell them about mods, and you have an accident and a claim, and they determine the car has been extensively modified (suspension lowered, engine pumped up), you are out of luck. If you tell them about the mods up front, they drop you.

JTYLTK

[patrick66]

State Farm, USAA, Allstate, Farmers. They're all crooked as hell! All of the above are real PITA's to deal with, especially after a catastrophic loss. I've got to admit, Allstate was the best of the worst in terms of paying off like they were supposed to.

Insurance companies, trial laywers and politicians all have a one-way ticket straight to hell when Judgement Day comes, without a doubt!

[edjack]

We can only hope and pray!

[graha13836]

I gotta stand up for State Farm. I have had two major claims, one a car fire, one a sunken isuzu. Windshield claims, two or three minor accidents over the years just normal stuff, except for the sinking the isuzu, and they have not only not dropped me but my rates are untouchable by ANYONE! I have had all the other guys big and small check and they cannot even touch the coverage I get for the price. I get local folks to deal with anytime I need them they are a phone call away. I have guaranteed renewal which basically means by their own contract with me they cannot drop me shy of a DUI or some other amazingly stupid thing. How you ask does all this happen? Well our family has stuck with one insurance company since 1963 when my grandfather bought a 63 Studebaker. As far as people like Allstate, I cringe at the thought of ever being in a wreck with someone covered by the good hands folks.. I had to threaten legal action to even get them to go to look at my car. I ended up filing through State Farm and let them duke it out with Allstate.

Oh yea, and the mod thing, My agent told me keep my reciepts for all my mods on the Jeep and if there was ever a problem, they would be covered. Here again, having a history with a company really does matter.

[ 04-06-2004: Message edited by: Shawns 86 325ES ]

[patrick66]

Shawn, my Dad had car insurance w/State Farm for 37 years. Then they jacked his rates up 100%! No tickets or accidents EVER! Same cars, no address change, just appreciation of a 37-year customer by screwing him hard! No, ALL insurance companies are evil. Lawyers run things everywhere, and we all pay the price. Screw them all!

[BD325ic]

Insurance agencies are in business to make money and many were crippled by 9/11, the California wildfires only made things worse. They're going to raise the rates, in some cases, across all policy lines to recover what they've paid out.

It's unfortunate that good, honest policy holders are getting the shaft but can you imagine what rate increases the bad policyholders are receiving? They're probably getting their coverage cancelled.

Attorneys who litigate high settlements aren't very high on my list either and tort reform needs to happen as soon as possible because that mess is well out of hand. I dislike the legal system as a whole but if I ever need an Attorney, I want the most ruthless one I can find.

My home is worth $180,000 and I pay about $800 a year for coverage that's well above what the replacement cost would be. I think this is a terrific bargain.

I don't have any complaints with any insurance company I've ever had.

[rld777]

Coming from the perspective of one who's worked in automotive component testing, I have to also back the insurace companies a bit with regard to thier poilices. If you modify a car's ride height, for example, you dramatically affect it's overall crash-worthyness buy altering the bumper and major structural height.

I would rather see better, stiffer struts in place than weak, worn out, original ones which increase stopping distance. Each time a structural modification is made, you run the potential risk of stiffening something that is designed to bend in the event of a crash. It sounds innocent enough, but there's real concern for these companies for this sort of thing.

Lastly, tailights. I've not ever witnessed a "replacment" tailight that makes the turn signals, reversing lights, brake lights and running lights MORE noticeable than original equipment units. They always reduce your visability of your intentions to other drivers. This is a serious concern and hopefully such rediculous money-waste opprotunities will be banned in the future.

Sorry to rant, guess I have some strong opinions having designed vechiles to be safe then finding those efforts negated. If you want lower insurance rates, stick with a company long term, and more to a rural community.

[Roadstergal]

I have to agree with RLD. The folk to blame here are the twits who are making unintelligent mods and street racing, not the insurance companies who are reacting to that. A case of a few spoiling it for the rest of us.

[edjack]

My point was, be careful with your mods, you may end up with no insurance.

[donaldan]

I have had State Farm coverage for all my house and car insurance needs for over 30 years. Their rates are some of the lowest. I regualrly checked rates with other companies and none ever came close. Except for one goofup, all my claims in these 30 years have been very fair and speedily settled. I always felt blessed when I heard claim difficulties others have to content with.

[patrick66]

See how much of a "friend" they are when it comes to paying out when they are supposed to! Tornadoes are a fact of life around here, and the insurance companies are famous for jacking pepople around in a disaster. In OK, Farmers and State Farm are absolutely THE WORST to deal with. USAA tried to total my Cummins Dodge truck, and I had to fight them tooth and nail to have the truck fixed and fixed with the correct parts, not Chinese crap. Also, I had to go through the OK State Insurance Commissioner's office to have the claim on my other truck paid out like it should, though the insurance company still shorted me close to $4K on the appraised value on it, the bastards! Allstate was a PITA when it came to house contents, but they finally settled out when I threatened similar action against them.

No, insurance companies are evil entities of the "axis of greed", being them, trial lawyers, and politicians.

I bought an extension ladder recently at Home Depot. There are NINETEEN warning labels and instruction decals on this 20' ladder!!! Why??? Insurance companies, trial lawyers, and politicians!!!

Prove me wrong.


[ 04-18-2004: Message edited by: patrick66 ]

[edjack]

The evil "axis of greed" is out to make money, some of the members more than others. It's a sad fact of current American society.

As an American, I'm ashamed of this state of affairs.

[Greenhornet84]

State Farm screwed me too.

But I'm curious. What are you Gals and Guys paying forAuto coverage? Having spent 14 yearsin insurance I realize the most important rating factor in premiums is location. It's the loss rate in your Zip code (or Zip Code sectors, some are grouped) that produce the Rate Adjustment Factor.

All Auto policies start with basic information: age and sex of driver, individual loss record, points, and type of vehicle. This figure is then multiplied by the Rate Adjustment Factor which can be plus or minus depending on the loss ratio of your Zip Code to the national average.

For example: I live in Delaware Co. PA, 6 blocks from the Philadephia city limit. I pay $436 a month 10 times a year to insure 5 cars and 5 drivers. Only 1 car has full collision coverage. If I lived 6 blocks east the same coverage would cost me $8000 a year.

The way the insurance cos. come up the RAF is based on thier costs from collision, vandalism, car theft, medical costs and the absolute 800 pound Gorilla in the living room that no one wants to confront. Jury awards for pain and suffering. Apparently no one in Harrisburg can figure out why people in Philadelphia get so much more badly hurt in fender benders than the folks in rest of the state.

Commens?
Mark