Hurricane Insurance Company
Why Would Your Insurance Company Have Dropped You?
You may not like paying for auto insurance, homeowner’s insurance, and other forms of insurance but of course it’s legally necessary and a protection for you as well. Having proper insurance means protecting your assets in case you cause damage to someone else’s property, protecting your own property, and also providing medical coverage for injury in some cases.
While insurance is necessary, there are times when an insurance company will drop a customer or refuse to provide their insurance any longer. This may seem odd since it’s not typical for a company of any sort to drop a customer, but it does sometimes happen with insurance. There are typically just a few common reasons for this.
In some cases this may be because of the customer himself or herself. It’s unfortunate that some health insurance companies have dropped patients because they were too expensive as they needed various treatments. Auto insurance companies may drop those who have multiple accidents or tickets, deeming them dangerous or risky.
However in some cases an insurance company may be making adjustments internally, such as dropping all homeowner’s policies in certain geographical areas that are deemed too high of a risk. This may happen in areas where there are typically more hurricanes, floods, tropical storms, and so on.
In some cases the insurance company may be going through a change in their own financial dealings. They may not feel they have enough cash on hand or assets to pay out claims if they were to arise, so they will drop certain customers in high risk cases to protect themselves from those potential claims.
Insurance companies are not always forthcoming as to why they drop customers, and this can be confusing and frustrating for some. There may be times when it is obvious as to why a customer is being dropped, such as that high risk driver, but during other times an inquiry may be in order.
No information in this article should be considered as legal advice. Always consult with an attorney on all legal matters.
What did the new car dealerships do with all the vehicles involved in the floods from Katrina Hurricane?
I’m interested if I can buy a 4×4 pickup that was involved in the floods from the hurricane. Did the dealers or insurance companies scrap all the vehicles? I’m a professional auto technician @ my hometown General Motors dealership for 20 years and I’m not afraid to buy one [if avaliable] and restore it for my own personal use. How would I get in contact with the dealers or insurance companies?
Hi Rob,
Check the link below, not sure if they have what you are looking for or not. It’s an auction on salvage vehicles, not sure about flood damaged cars and trucks.
Hope this helps you.
Jerry