Not All Insurance Companies Are Created Equal

Mortgage and Lending with Taylor Morrison Home Funding NMLS#: 1054841

I just wanted to take a moment to make sure that people realize that cheapest is not always best when it comes to homeowners insurance.  We buy insurance because we to when taking out a loan on a property, and also in case of disaster.  Most people buy insurance and hope to never have to use it, but I have heard many cases of people needing to use their insurance.  Sometimes it is smooth and sometimes I hear the horror stories.  I happen to have one of the horror stories myself with an insurance claim.  I was insured through Travelers because it was the cheapest I could find.  Long story short, I had a burglary many years ago.  I was out of town at the time it happened.  The alarm company called me, the police arrived etc.  I made it there within a day or two.  My house was totally cleaned out ... totally.  I had never had this situation before, so I did not know what was normal and what was not as far as insurance company procedures.  I had to compile receipts and pictures of everything I could, they wanted my cell phone records, they put me through an interrogation as if I was a criminal.  Every time I gave them the info they requested, they turned me over to another person in another department.  After several months, I realized they were either trying to wear me down with paperwork so I would give up or they were looking for a reason to deny the claim for some technical reason. 

Throughout the process they treated me worse and worse.  It was as if I was the burglar.  They treated me like total dirt.  They could never give me any answers.  It was plain despicable and I don't know how the claim handler and everyone involved can sleep at night.  After 8 months or so of jumping through hoops they never paid me a dime.  Not even a refund on my $800+/year premium.  Total sham, total crooks. Beware of Travelers insurance. They were, maybe still are a part of Citigroup. 

I cannot recommend enough, when searching for an insurance company, to search the Internet for reviews and ask around for people that have had to file claims with their insurance. The cheapest is definitely not the best in my experience.  Hopefully you never have to use it.  If you do, your homeowners insurance is very important.  Don't let my horror story happen to you!




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