As an example if your $300,000 home is insured for storm damage then you’d have to “pay the first $15,000 of storm damage.” Doesn’t that seem like a large sum of money for most people to have to fork over? I doubt the majority of homeowners with houses worth $300,000 have $15,000 lying around in case of impending storms.
At least people’s premiums will see a slight decrease according to an Allstate spokesperson. Does 5 percent seem like a large deductible to you or quite the opposite?
You're spot on. $15000 seems like a terribly high insurance premium for someone to pay! I wonder if Allstate thinks this move will lead to better client relations? Somehow, I doubt it. People in Louisiana have likely had it up to here (as I wave my hand over my head) with post-Katrina insurance company stuff.
Jerry
www.leads4insurance.com
Posted by: Jerry | September 13, 2007 9:52 PM | Permalink to Comment