Comment Re:What? (Score 1) 486
Ok, My fault for not explaining more completely.
My company came to LA after Katrina, by a request from the state of LA.
Next, an insurance company is still a company, and we're not in the buisness of giving free money out. Every claim is given full and complete review, and is paid out based on acutal damage. I hope they get every penny they are eligible for as well, but at the same time, LA residents are notorious for under insuring their homes. I have seen homes insured for 55k, that would cost 350k or more to replace. This is more common than not, based on my experiance.
If you fail to accurately insure your home, who's fault is it that you only get 55k when your expenses are 300k more? Should we give you the money to rebuild your home, when you haven't to cover its replacement cost?
And if you think LA is messed up for insurance, try FL. We've been getting hosed on it for so long a 2k per year premium is normal. (approx 150k w/ hurricane to give you some perspective.)