What chance do I have suing a large insurance company?

Question

Thank you for your answers yesterday and after shopping around Other companies offer the same coverage if not more for 1/3 of what I'm paying now. I took over the house when my Mom passed and just kept up with what she had thinking that with the storms in Fla. It would be hard to be picked up by another provider. With what was paid in premiums seems like she/me now are being taken advantage of. I'm so pissed off at the waste of money.. and only claimed less than 10K for storm damage recently in the 18 years living here. It just isn't right. Please advise if it's possible or just let it go and move on..Thank you.

Answer 1

idk : |

Answer 2

What do you want to sue for? That your mom's insurance company charged higher rates then the other company? Do you sue Sears because Wal-mart sells an item cheaper? No.  You don't like to price of the product - you take your business elsewhere. That's your remedy.

Also - insurance rates are approved by the insurance department. Insurance companies don't get to charge what ever they want. They have to have data to support the rate they want to charge and get the insurance department to approve it.

You have no law suit. Get over it.

Answer 3

You have as much of a chance as Chris farley has of getting into my panties if he was still alive.

id say virtually no chance whatsoever

good luck :)

Answer 4

It would cost a lot of money to get a lawyer and other things, but if you think it's worth it, go for it.

Answer 5

You have less of a chance of winning than a snow ball has in h**l.

You agreed to the older policy when you paid the premiums.  The older policy was on a different set of rates.  Rates change over the years and insurance companies don't just lower your rates for you, they want there money.  Only way to keep up on it is to keep checking for lower prices once a year or so.

Just move on and keep shopping around.

Answer 6

Well, I don't remember what kind of insurance you're talking about, but it sounds like property insurance.

Insurance policies are NOT transferrable.  

What are you going to sue the insurance company for?  You know what the rate is before you take the policy.  You agree to it, by paying the premium.

Sure, here in the USA you can hire a lawyer for about $250 an hour and sue anyone for anything.  Will you win?  If you're suit is over the price, no, you won't.

But if YOU are living in the house, and the house is deeded to YOU, and the policy is in the name of your mom, well, neither YOU, nor YOUR HOUSE, are actually insured.  There's no "insurable interest".  And if your claim got denied, well, you'd lose that lawsuit, also.

Answer 7

Companies have a team of lawyers working for them, it's seriously not worth it.

Answer 8

I wouldn't take on a big company on your own, they'd have way better lawyers so unless your legal representation can rival theirs, you'll be losing even more in legal fees.

Try talking to the BBB.

Answer 9

I would read the policy CAREFULLY and take it to a lawyer for consultation and see what he/she thinks about it, whether you have a case or not. Because the insurance company sounds like a total rip off that people may not realize till they go to claim