[photopress:Insured_by_mafia.jpg,full,alignright]I already wrote how MetLife refused to renew an insurance policy on a Condo we own in Vermont because I had too many claims on my main home, and how committed I was to move all my business, 7 policies in total, away from them. Before I could even shop around for a new insurance provider, they dumped me for the insurance on my main home.
I have been a loyal customer for 20+ years. Every time I needed a new insurance policy I bought it from MetLife – so 100% customer loyalty for over 20 years. I am paying MetLife more than $12K in premiums every year. Over the lifetime as a home owner policy customer, which goes back 21 years, I had 3 claims – costing them less than $20K. In fact, one of the storms (the one when the Federal Government declared our county a Federal Disaster area – Mother’s day 2006) cost me $50K in repairs, for which MetLife paid me a whopping $500 (make sure you install sump pumps if you have a finished basement). The only issue is that the three claims came in a streak of bad luck spanning less than 3 years. So what do their sophisticated analytics systems tells them? Dump the customer, and send them form letter MPL9192-078 – stating: “All insurance companies set their premium rates based upon certain standards and expectations as to the characteristics of the risk which they will insure. such characteristics are blah, blah, blah…”
To add insult to injury, and because they dumped me, I may have to apply for insurance through the Fair Access to Insurance plan, which according to a few brokers I spoke with today could jack up my premium by more than 100%.
What is wrong with this picture? By all accounts I think that I should qualify for discounts on my premiums for being such a loyal and low cost customer, but instead I am being treated as if I tried to defraud MetLife.
That totally sucks…
I am not for big government, but where is the help system you need when you are so unfairly treated? Of course, I should not complain, as it is all about replaceable property for me. For others who get dumped from health insurance it’s a matter of life or death.