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Allstate / recoverable depreciation

1 Spring, TX, United States Review updated:

During Hurricane Ike, an Oak Tree fell on our house. The tree hit the roof over the spare bedroom which I used as a Computer/Music room. After much fighting and wrangling, they finally paid enough (barely) to fix the damage to the house. When it came time for the Contents Claim to be settled, I submitted a claim for $21, 000. I had lost computers, albums, CDs, Amplifiers etc. They sent me a check for $4500, citing "Recoverable Depreciation" as the reason for the discrepancy. What this means is, if you claim an item is worth $100, they will pay you a small percentage of that $100, and pay you the balance when you submit a reciept for the remainder showing that you have bought the replacement item. This is another Insurance Industry scam, helped along through the Texas (and other states) Legislature with many lobbying dollars.
When I pay my premium, I expect to be paid if I have a claim, not run through hoops all so Allstate can maximize their bottom line. Shame on our lawmakers for taking lobbyist money to pass laws that are only in the best interest of the insurance companies. A soon as I get what I can of my "recoverable Deprecitation, We will be switching insurance companies. I know they are all the same, but they have a choice whether to take advantage of this law or to play fair and pay claims in full.
Allstate is a criminal enterprise and should be investigated, along with all the insurance companies that look for ways to screw thier clients out of their deserved claim payments.

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Comments

  • Da
      2nd of Feb, 2010
    +1 Votes

    If you don't have a "full replacement value" clause in your policy, you're not going to receive the replacement value for the damaged items.

    If you bought something, for instance, 10 years ago, do you honestly expect the insurance company to give the amount of money it would cost to purchase a new version of the item today?!?

  • Cl
      3rd of Apr, 2010
    -1 Votes

    www.AllstateInsuranceClassAction.com. For property insureds with replacement cost coverage.

  • Se
      30th of Nov, 2010
    0 Votes

    I want to sue for 125million dollars

  • Se
      30th of Nov, 2010
    0 Votes

    sue sigfried and jensen don't believe me tell them please

  • Re
      1st of Dec, 2010
    0 Votes

    And last night a band of self-assuring neon purple preachers tried to force me to jump out of the Hindenburg as it flew over South Africa. Your point being?

  • Ms
      25th of Jan, 2011
    +1 Votes

    This percentage is based on the life expectancy of the item. For example a computer may have a life expectancy of 5 years. 2 years ago you might have paid $700.00 for the computer. Today that same computer with better specs is going for $500.00. Why would the insurance company give you a full $700.00 on an item that is only worth $500.00 today. Recoverable Depreciation is put in place to ensure both parties are fairing out in the claim. If we give you the full $700.00 and you go out and buy the $500.00 computer you have pocketed $200.00. The $500.00 new computer would still depreciate by roughly 36% for initial payout of $320.00. Once you go out and repurchase the computer for $500.00 and send in the receipt you would be able to get the $180.00 back. The purpose is to get you back to where you were before the lost and before the lost you had a used 2 year old computer that outside the insurance company would probably be worth $100.00.

  • Vi
      13th of Jun, 2016
    0 Votes
    Allstate - Illegal charges
    ALLSTATE
    6415 BABCOCK ROAD
    SAN ANTONIO, TX
    United States
    Phone: 2106997100

    This company has tried to debit $140.23 from my account on 2 separate occasions. My mother has a policy with them. I don't have a account with them. My credit card was given at one time only last year. However when I called this agent I talked to a Mark who was a smart ### and not very helpful. He told me that it was a valid charge and my mother gave them authorization to run credit card. Let him know that was not
    true because my mother would not do that. I have talked to my mother and she confirmed it as well. My mother's name on policy is Mary Guedea. Also this company should have never processed any payment on my account without my authorization. This is against the law and I'm just appalled how I was treated when I called. I would like a explanation as to why my authorization was never asked on this transaction.

    Thank You,
    Victoria Hagan
    210-326-6465

  • Dr
      13th of Jun, 2016
    0 Votes
    Allstate - Illegal charges
    allstate
    Arizona
    United States

    we have been around the bend with allstate for 2.5 months and we cancelled our policy in may for 2 months so they owe us 252.00 we got 29.00 so they still owe us 223.00 they arent willing to pay us they keep lieing and lieing we want our money

  • Po
      13th of Jun, 2016
    0 Votes
    Allstate - Illegal charges
    Allstate
    United States
    allstate.com

    Allstate motor club is the worse company to have tow your car. they don't respond to calls and are very rude. I canceled my membership after only 2 months.

  • Ro
      13th of Jun, 2016
    0 Votes
    Allstate - Illegal charges
    Allstate Insurance
    United States

    I just posted a video on youtube that describes how we were treated by Allstate after our house burned. Here is the link:
    http://www.youtube.com/watch?v=HwDj1O8N4PI

  • Pe
      13th of Jun, 2016
    0 Votes
    Allstate - Illegal charges
    all state
    3808 Riverside #505A
    Burbank
    United States
    Phone: 8189414444

    I contacted Allstate for uncovered insurance coverage. I decided to call to discuss the matter. However, Mark Ismael used foul language and I had to tell him to lower his voice with me. I truly believe that he does not know how to speak to people specially women.

  • Se
      24th of Aug, 2016
    0 Votes
    meckay dee hospital allstate insurance company - marine tried to kill my son and admitted it
    meckay dee hospital
    don't know
    Ogden
    Utah
    United States
    Phone: mine is 8016451216

    I already posted a complaint i need to have you tell judges so i can sue all their insurance companies and my lawyers sigfried and jensen the marine tried to kill me their in salf lake city

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