State Farm Owes $310M in Refunds, Texas Regulators Say

November 17, 2009

  • November 17, 2009 at 3:43 am
    Steven Goss says:
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    I compete directly against State Farm agents yet also work with a number of the older agents providing commercial insurance their company cannot offer. The newest State Farm agents employ unethical and illegal sales practices in order to keep current insureds with State Farm. I guess I don’t completely understand but if people don’t like State Farm’s house and home owners insurance rates in Texas, why not shop them with say an indepdent agent like myself. At http://www.stevengoss.com, we can do Texas home insurance quote comparisons in minutes. My Stonebriar Insurance Group in Frisco Texas has Travelers, Hartford, Safeco, etc. Why not just switch from State Farm if Texas homeowners don’t think their insurance rates are fair?

  • November 18, 2009 at 9:00 am
    Thom Knott says:
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    Nice commercial, P.T. Barnum would be proud.

  • November 18, 2009 at 12:40 pm
    Garey Gruber says:
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    I did not realize this was a forum for commercials.

  • November 18, 2009 at 12:50 pm
    Insurance Lady says:
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    It might be too commercial for this forum, but he’s right. If consumers do not like their rates with a specific carrier, they have the freedom to shop elsewhere. MOst don’t because they are either too lazy to take the time, or they have a preference to the service offered by that carrier.

    I get miffed every time I have to spend money on tires for my car. They are a necessity, and for the safety of the general public I am required to replace them when they are worn. If I prefer Goodyear and don’t want to shop around for a better deal from another manufacturer, should the government step in and force Goodyear to discount their pricing? I think not.

  • November 18, 2009 at 12:51 pm
    Flea T. Carnumb says:
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    Well, Mr. Goss is guaranteed not to have a negative ROI on that commercial! Of course advertising insurance to insurance agents is not likely to generate many sales either.

  • November 18, 2009 at 1:12 am
    SWFL Agent says:
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    My sentiments exactly Flea T!

  • November 18, 2009 at 1:16 am
    Steven Goss says:
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    Was not meaning for it to be a commercial but was intending to show people exactly how easy it is to shop and there are no excuses for not doing it. Furthermore, every time someone issues a new’s release, its a commercial, trust me.

    I just get tired of hearing people whine about State Farm and Allstate’s rates being unfair or too high. If you think that, quit buying it from them. In Texas we have a Public Insurance Counsel and also a group called Consumer Watch that always is in the press complaining about State Farm’s rates but not once have they come out and said to go buy it elsewhere. Now, why is that do you suppose?

    On a final note, I have a number of people personally insured that work at State Farm and Allstate so yes, insurance agents and employees do read and buy it from us too!!

  • November 18, 2009 at 1:31 am
    Mr Politics says:
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    Insurance is NOT a commodity – selling on price alone is never adviseable. It’s all about consumer choice – which is slowly and surely being taken away. Please tell me how any forced rate reductions has lead to more competition.

    Government was not designed to regulate and control price – PERIOD!!! Don’t be surprised when the Texas Ins Comm runs for Governor:-)

  • March 20, 2012 at 5:31 am
    Mikal says:
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    If state farm sells you a policy on your house valued at $180,000.00 which is only appraised at $109,000.00 will they pay the $180,000.00 or the appraised value of the house only? Or is the insurer taking you for inflated policy values?

    4

    • May 24, 2012 at 4:34 pm
      tonylopez says:
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      I don’t know,but I would like a definate answer from someone who definately knows

  • April 19, 2017 at 6:21 pm
    David Curtis McCoy says:
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    we were with state farm from 1983 from 2010 how do we get our refund from way over charging us



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