Balboa Insurance Complaint - Parent Company Bait and Switch?

Review by bann926 on 2010-06-22
SANTA ANA, CALIFORNIA -- I became a customer of Balboa insurance in 2007 as Bank of America began its merger with Countrywide Home Loans my mortgage provider. As they did the Bank of America called and offered up their insurance coverage. It seemed fair they would not screw themselves over right? I remained with Balboa for almost two year. Sadly in 2008, Hurricane Ike hit in 2008. Even though I had not filed a claim, I received a letter of nonrenewal the next September and had approximately 10 days to shop around and get new home owners insurance. When I called to inquire why I was no longer good enough to be there customer, the agent told me my risk moved up from a level 6 or 7 to attend. The factors he said were based on proximity to a fire station and fire hydrants, number of people served by emergency personnel. I looked it up the fire station was within 5 miles. I called the fire chief/marshal. The result was that I am served by the Rosenberg Fire Department through and inter government agreement. As a result of that the marshal did say I was a category. (I do have a problem with the city set up but that's another blog). My complaint is that Balboa knew when I signed with them after they begged me to do so that I was a 9 which I learned to years later they do not serve. In my eyes it was an error on their part. Either they should have continued my relationship or refunded my premium from the two years.

Sadly the saga with Bank of America subsidiaries continues as now I am fighting them because the baby company for Identity protection helped themselves to my information and I ended up paying them $12.99 a month unannounced to me. There should be a law against them using their hierarchy to prey on their customers. I am totally disgusted with Bank of America, but sadly my relationship has 26 years to go.
Comments:1 Replies - Latest reply on 2011-04-20
Posted by Bueno on 2011-04-20:
I understand your frustration. But as an insurance agent I can tell you two things. 1. The number you are talking about is called a Protection Class. Insurance rates are heavily based on protection class and if your protection class changes they can choose to discontinue their relationship, in other words non-renew your policy. So this is not just Balboa or Bank of America, its the entire insurance industry. 2. You feel that you should be refunded 2 years of insurance premiums. That is ridiculous, if you're house would have burnt down you would have been covered so that is what I call EARNED PREMIUM. So sorry to hear about your situation but sounds like Balboa and Bank of America did nothing wrong. P.S. That identity theft crap, yes that is definately a problem, I would call them and complain. They should give you a full refund. Speak with a manager and above all dowt back down, be persistent. Good luck!

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