In Florida in 2022 more than 30% of all insurance claims went unpaid and when you look at the biggest insurance carriers like Allstate and State Farm that number jumps up to over 50% of unpaid insurance claims. Of course, some of them are fraudulent, some of them don’t qualify for payment, but a lot of these claims are also legitimate claims that are not being paid out even though you pay in and must pay if you want to keep your house.
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The disheartening aspect of the United States is that even when you successfully accumulate savings, unforeseen circumstances can swiftly deplete them. I dedicated five years to building a substantial reserve for unexpected situations. However, a few months ago, I suffered a severe back injury, and my savings vanished in an instant, despite having insurance coverage. This raises the question: what is the appropriate amount? How can one ever attain a sense of true security?
Insurance, is one of the biggest rip=offs on the planet. They get away with it, and u have no recourse, and get screwed over , more than once. We have been screwed over on car insurance , three different times, when the other driver was liable, but it still didn’t matter. It took yrs, so they want u to give up, but we didn’t, and it took almost 6 yrs to settle. with a big, loss to the lawyer, medical bills, all comes out before u get a penny. A $100,000 dollar settlement, my crippled wife, received ,after yrs of them trying to screw us over. Her settlement for that $100,000 settlement, after lawyers. medical bills, paper work, she received 31,000,000, after almost 6 yrs, and passed away, shortly after, and never got to spend it. I think she died from heartbreak, of our family, always getting screwed with full coverage. All a fkg rip=off, but u can’t drive without it, unless your an immigrant, get a free ride. We get screwed.
I thought the States monitored and controlled the Insurance industry? Seems like each State has an Insurance Division paid for by the tax payers? In most States, the Insurance Commissioner is an elected position. How can this deception continue without someone suing the pants off the State???