State Farm can now officially kiss my ass.
As my policy was being canceled, I was asked why I was canceling. I surpressed the "Cause this agency lacks basic customer service, and State Farm is a pretty crappy insurance company", and went with the "I got a much much better rate that you're not able to beat".
The guy responded saying that business has been rough with all the mold claims being made. Now, this statement says this to me: our company has a poor business model and was not able to forsee actually having to make claim payments. Therefore, we will make up for our short-sightedness and poor business practices by raising all rates across all policies to make up for our shortfall.
Now, granted I am naive, but I feel that if a company makes bad decisions and policies, it is the company that should shoulder the consequences. Either by upper management taking a hit in compensation, or the company simply not earning as much, or taking away some of it's savings.
I mean, come on. You're an insurance company, you bet against having to pay out claims. You lost the bet this year. Deal with it.
Posted by haglund at August 16, 2002 10:01 AM