Liberty Mutual Insurance Co. Complaint - cancelled after 37 years
MINNESOTA -- My policy with Liberty Mutual was 37 years old. I was cancelled because I had two thefts two years apart. Their total outlay for these was less than $1200. I naively thought that having the most coverage I could get was a good idea and since I was paying extra for that coverage, I should file a claim when my stuff was stolen.
I had to take out an assigned-risk policy (managed by the state) which cost a fortune.
I have since changed my insurance strategy to taking out policies with the highest deductible I can possibly absorb and absorbing it when my belongings are stolen.
In researching this I find that insurance companies have an inside track to state regulators and can pretty much dictate the terms they will operate under. I believe now that most insurance fraud is perpetrated by insurance companies.