39 Replies to “Insurance Company Busted Ripping Off Americans By Under-Valuing Their Claims”

  1. Because we now have preditory capitalism, maximizing profit comes above anything and everything else… It's the culture we've made over past 40 yrs, shown also through laws and policies made through out that timeline. The consumer, the patient, the person no longer matters in our culture. None of these businesses would be here with out the people. Pretty sad…

  2. Me too Farron!!!
    I was hit by a car making a left turn onto a main thoroughfare at the top of a blind hilltop intersection and they hit my car on the drivers side right smack on my tire and broke my front axle on Christmas Eve 2002!!! The insurance companies paid me around $800-$900 for my 1994 Red Ford Escort Sport Edition which was not even enough for the down payment on my 2003 Emerald Green Saturn ION 3, which was my first and last brand new from the dealership vehicle, but then I still had to borrow like $700-$800 from my grandparents to make up the difference between what my insurance company paid and the $1500 down payment due BECAUSE SOMEONE ELSE COULDN'T SEE MY CAR AND DESTROYED BOTH OF OUR VEHICLES!!!¡! And no I'm not bitter about it at all… 😡😡😡😡

  3. I got screwed by Travelers Ins Co. They wanted to total my car since it was over 80% of the "said" value.. But their appraiser added more things to the appraisal than needed to be done.. I was still making payments and had to keep them up to keep my good credit. I ended up just driving the car for 2 more years to avoid the "salvage" stamped on the title.. It's funny how a car like mine, but a year older was $6,000 at a dealer when I was only going to get $4,300 from my insurance company ! It took me 2 years to find a decent car for $4,300.. I needed a car RIGHT NOW to keep my job.. What was I going to buy with $4,300 that would not fall apart.. That would make it so that i would have to take out another loan.. Travelers just wanted to take my car away and sell it to a salvage yard to pay the $4,300 they said it was worth.. In my opinion they are nothing more than racketeers taking advantage of people in desperate straights !

  4. I was an insurance agent and resigned after I noticed how they try to avoid payments for legitimate claims.
    We should not be force to buy any kind of insurance…is throwing money away.
    While the Goverment with our tax dollars back them up Whn bankrupt.

  5. Insurance companies are a prime example of emotional based business. They don't want to pay out claims because they want shit for free. Zero responsibility, zero accountability. Insurances companies want all the free cash, without the responsibility. Waaaa waaaaaaa boooooooo cry baby companies and their feelings.

  6. You know, this reminds me of the scenes from "The Incredibles" where Bob is dealing with his boss, Gilbert Huph. I can't help but remember how petty and spiteful he was, how determined he was to make sure that every claim turned in was denied, all to better profit their shareholders. More and more, I think that every CEO in every insurance company out there is exactly like him.

  7. What Farren is describing is a lack of gap insurance. Equity is financed amount – current market value. Negative equity is a liability. If you total your car and don’t have gap insurance your carrier is only required to pay you market value for your vehicle.

    Also you’re entitled to a second opinion if your not happy with the settle check, most people just don’t know their rights

  8. This is no surprise but good info none the less. A buddy of mine had friend who was an car insurance adjuster, he told my buddy "my job as an adjuster is to fck you out of money any way I can" 💵 💰 💲

  9. Well, I got State farm insurance. Gee, no wonder my insurance is cheaper than others were offering lol. Yeah, this sucks… My entire family has State Farm. Well hopefully this will force them to stop this.

  10. They had one job to do…………………………….And they couldn't even cover what they are licensed to do ; collect billions so individuals group payments can cover individual loses and make $$$$$$$$$$ of extras over costs.
    I know personally, they pay themselves quite handsomely, FIRST!

  11. Progressive insurance is no damn different. If I am paying full coverage for car insurance, matters if I don't have gap, it says full coverage. The insurance should fully pay for anyone's car if their car has been totaled period.

Comments are closed.