Comments by "Crime Stoppers" (@crimestoppers1877) on "Why Americans Are Suddenly Losing Their Home Insurance" video.

  1. I have worked for many years as an insurance investigator and my records showq only a maximum of 6-7% of injury claims are exaggerated above contract limits. But the other 94% of claims that I have been assigned have gone through the claims process which is Deny, Delay and Minimize wherever possible and at the same time tell the insured what a good deal they got on their claim. AFIK there is NO state law that requires that insurance companies actually pay legitimate claims! This is where the big bucks are made. Make outrageous TV ads showing you pay frivolous claims quickly while at the same time denying legitimate claims knowing that most of the time people do not have the money to sue insurance companies. My Claims Manager once told me that Insurance companies have more Gold than God.
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  2. Caution. insurance comapnies do not like to pay any claims. For this reason I only file a claim that is a high dollar loss. The small stuff will only come back to bite you in terms of higher premiums, closer scrutiny of your contract and an indicator of an unwanted customer. If I have a loss of less than $30K I let it go. It is not worth the time energy and stress to force them to be honest with any claim so why file for any small claims? My insurance is backed with an all inclusive Umbrella policy for the big claims. I would not drive my car unless I had a high level of liability insurance. I know in advance that they will try to deny, delay and minimize the recognition and resolution of any claims. That is just the way insurance companies are. They are Financial instituions that care ONLY about more and more power and profit for themselves and the politicians who support them.
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  3. When I need a newer roof I drive around and look for diligent workers working on a new roof in the style materials I want. If I see people walking and talking and not doing their best I note it. When I find fast and furious workers who do not take short cuts and do not waste time talking or eating I hire them direct with afew benefits that they will not get from their licensed roofing contractor. I pay cash on completion and provide all materials from my own wholesale roofing supplier. I pay them cash also for the best price. I can reroof a single story house at less than 30% of the typical estimate. I only select the highest components, materials and equiment. Many roofers do not get paid on time and many are not fully aid for the work they do. As long as they do Excellent work I give them more jobs for my houses or houses of my friends. I enjoy cutting out the middleman. Yes I do get all permits as an Owner-Builder. I use contracts that do not require that I carry Workers Compensation coverage for each job. Safety is Job #1 on my properties.
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  4. Don't believe it. There are dozens of ways insurance companies make profits for those who direct them. Investors are no more important than claimants. The most despised director is the person who controls the Claims function. He is spending "their" money.  @davidporter7051 
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  5. Why are they paying me over $40,000 for one simple med only claim ( No indemnity claim required) when I told them at the very beginning that there was zero fraud involved and the only goal of the injured worker was to resume work so he could get married. Legally, I cannot tell the carrier how I gathered the information. The reason carriers hire outside attorneys and outside investigators is for Plausible Deniability. They do not care "how" you find out what's going on only that they can Deny Delay or minimize payements on a claim. Carriers do not want to get sued for violation of privacy rights and a long list of legal "don'ts"  @davidporter7051 
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  6. Another issue in Florida, is that hgh pressure door to door and telepehone sales teams will approach a homeowner and tell them they can "see" some roof damage "out of place" or unaligned roof shingles and tell them they will "inspect the damage" and submit an insurance claim for the homeowner for a complete tear off an replacement or whatever they can claim. Try asking your insurance agent if they cover "wind driven" rain ? 90% probability of a Big NO! What the "h" is wind driven rain? When it rains, there is usually some wind. What is the difference between a breeze and a wind? The difference between a Fahrt and a breeze?  @SailorMoonElite 
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  7. It also works well in Nevada, and California. Sometimes I think the roofers who work for me earn more money than their contractors. Workers Comp premiums in California are sky high so most of trhe cost of a new roof can go to insurance premiums. Insurance companies add zero value to my house. There are a number of legal loopholes to avoid these jerks. Most insurance companies don't pay their legitimate claims, so why bother playing their little games?  @rogerbec5766 
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