Posted 8/16/2006 05:51:00 PM by Douglas

Do I really need to post a rant about how insurance companies suck? I guess I have to, because a judge ruled that insurance companies don't have to pay claims unless they really, really want to:

The insurers had claimed their policies ruled out coverage for flooding. Lawyers representing homeowners argued that in selling home insurance with many references to windstorms and hurricanes, the insurance companies led customers to believe that any hurricane damage — from wind or water — would be covered. The ruling therefore upholds a longstanding practice of insurers of not covering flood damage, which is typically insured through the federal government.

Ok, so this is complicated. You've got windstorm and flood insurance, and your house gets hit by a hurricane. Who pays? Well, both ends of the insurance policies will say that the damage was caused by either the flood or the windstorm. . . the one that they don't cover. Sorry. Which is reason #743 why I hate insurance companies. They sell you the policy with the "piece of mind" bullshit sales pitch, but when the Cat 4 storm hits your porch, they've got an army of lawyers that try to find some way to prove that it's not their responsibility. If only they cashed your monthly check with such trepidation.

But hey, who can blame them? They're not in business of paying out claims, but what can you expect from an industry that has the same business model as a casino?