How Zillow Almost Cost Me Money & Prevented Me From Getting Insurance!

I swear there's a blurb about the Zestimates and its accuracy published on the Zillow website itself. I wanted to go find it for you. But then again, please know it isn't you, but why should we spend any more time discussing Zestimates? It's like asking me to diagnose you if you came to me and told me you have a headache.

I am not a fan of Zillow.  It's a good tool to use, but how accurate is their information.  There is so much information on the internet.  Not all of it is valid.

I've had Progressive auto insurance for years and found them okay to deal with.......never had a problem to address though.  No claims.

IDX sites and insurance companies make for strange bedfellows.

Zillow is just so frustrating. They can do what they do, that's fine, but when other companies and other people think their stuff is accurate, that's just BS and "for entertainment purposes" should be put on their site for non-disclosure states!

I have no opinion on Zillow but I do have issues with insurance companies trying to charge their premium based on replacement costs for homes.  I can see that working for golf clubs or tvs etc that might get stolen but not a house that might burn down.   I live in a triple brick home that was constructed in 1885.  It cannot be replaced!  You cannot reconstruct it!!   They want me to insure it for $2.3 million when it is worth maybe $500K.  So I said perfect . . .  there might be an earthquake or a fire in the next few days so could you begin putting together my cash, I'll call you in a few days to see if it is ready!   They didn't think that was funny.

OMG I bet you blew a gasket when you heard that one word "Zestimates"  Oh how I hate to hear that work walking into a listing appointment.  You know you have an uphill battle from that point on.  To a degree Zillow has done more to damage the market then help. 

Zillow is as damaging to markets as REOs underpriced so as to encourage a "bidding frenzy."

It is laughable that Progressive (or any other company) would use such a proven bad source of information as a factor...a sick, sad laugh with groans at the end.

That is amazing that the insurance company is pulling values from zillow to make their insurance decisions.  A company that large.. well any company, for that matter should look for reliable information if they are going to run their business and make business decisions based upon the information.   I should think that someone at Progressive would be smart enough to know that using bad information is costing them money.. hey, it cost them your business. 

I didn't realize that Progessive is such a stupid company.. I mean with a name like Progressive... just sayin'

Greg - So I am assuming you are the first one that complained. HAHA.

I hate that word Zestimate. I always hear it from clients.

Suggested - Greg - you can't make this stuff up...Unbelievable - you would think there would be better sources.

Insurance companies are , more and more, in love with automatic vauation tools because it saves them money- in the short run. 

Your problem was trying to make application on the net.  You should have found the store that Flo works at, she would have fixed you right up.

Zillow skews values the other way here. I had a home listed for $130,000 (and it didn't sell at that price) and Zillow showed the value to be around $250,000.

Greg, I had no idea that insurance companies have arrangements with online companies such as Zillow.  That is troubling.  These 'zestimates', as they call them, have caused many problems from the beginning.  Good that you followed up because you taught us all something new.

Did ya buy any stock in Zillow yesterday, Greg?  Didja? Didja?  Boy oh boy did I jump right on that right away!  NOT

I'm glad I wasn't around for that explosion when they said Denied, Zillow said so.

Hi Greg, I've heard nothing but bad things about Zillow estimates.