You can’t get less complicated than “this policy does not cover flood”. Perhaps they have never seen the Geico commercial that asks “what; have you been living under a rock?”
Agent 2 – but when is a flood a flood. If storm surge causes damage in walls and roofs and water “floods” into house is that a flood or something else? There was huge denials of claims from Katrina as companies refused coverage under the flood exclusion. And lets not get started on hurricane deductibles – I would not want to be an agent/broker if these get triggered.
This is what brought about the “concurrent causation” clause and has been held up for years. Now the politicians want it changed. Why? Because they are politicians, not because there isn’t a good reason for it’s existence.
None of my customers have ever gotten a hurricane deductible because I don’t offer it. You get back %40 for taking a 2 or 5% deductible. You only got it if you asked for it. So, I didn’t loose ANY sleep about hurricane deductibles.
What I did loose sleep over was worrying about people who would say “I didn’t know my policy didn’t cover flood” and not having IRON CLAD proof of some sort letting them know.
“Living under a rock” is a valid defense in some states.
How old were the flood maps for NY and NJ? How many of the homeowners were told they were not in a flood zone by their bank and real estate agent? The answers to these 2 questions will direct you to the problem.
Can we really be surprised? This article is a) NY and b) inspired by a lawyer. “Confusing” verbiage in a contract might have something to do with endless and frivolous lawsuits?
What a joke! Soon the government will be responsible for showing people how to cut a steak, pick it up with a fork, chew it, and swallow.
The title of this article almost made me spit out my coffee! Only in NY!
Obamacare and simplify should never be used together. Oxymoron anyone?
I had the exact same reaction, only it was sweet tea!
You can’t get less complicated than “this policy does not cover flood”. Perhaps they have never seen the Geico commercial that asks “what; have you been living under a rock?”
Apparently at least 1% of the population does.
What do you expect from a low information population? Now government wants to further lead the terminally stupid by the hand.
Don’t most companies follow ISO in some way?
Folks, evidently, the commisar thinks we are all too stupid to buy any kind of insurance. We need out City, State, and Federal nannies.
Agent 2 – but when is a flood a flood. If storm surge causes damage in walls and roofs and water “floods” into house is that a flood or something else? There was huge denials of claims from Katrina as companies refused coverage under the flood exclusion. And lets not get started on hurricane deductibles – I would not want to be an agent/broker if these get triggered.
Storm Surge is flood.
This is what brought about the “concurrent causation” clause and has been held up for years. Now the politicians want it changed. Why? Because they are politicians, not because there isn’t a good reason for it’s existence.
None of my customers have ever gotten a hurricane deductible because I don’t offer it. You get back %40 for taking a 2 or 5% deductible. You only got it if you asked for it. So, I didn’t loose ANY sleep about hurricane deductibles.
What I did loose sleep over was worrying about people who would say “I didn’t know my policy didn’t cover flood” and not having IRON CLAD proof of some sort letting them know.
“Living under a rock” is a valid defense in some states.
Rising water is flood Homeowner.
How old were the flood maps for NY and NJ? How many of the homeowners were told they were not in a flood zone by their bank and real estate agent? The answers to these 2 questions will direct you to the problem.
Can we really be surprised? This article is a) NY and b) inspired by a lawyer. “Confusing” verbiage in a contract might have something to do with endless and frivolous lawsuits?
What a joke! Soon the government will be responsible for showing people how to cut a steak, pick it up with a fork, chew it, and swallow.
“remove pizza from plastic before placing in oven” They already do Katie.