Scam letter about home insurance

[RVTECH]

Anybody else getting a scam letter (yea snail mail) about how 'failure to call and prevent a potential lapse in coverage COULD result in YOU being liable for all costs associated with any home repairs' ?

It appears to be fairly well known as there a reference to it on the BBB site.

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[aasbra]

What insurance company are you dealing with/speaking of?

 

[RVTECH]

What insurance company are you dealing with/speaking of?

The letter is in NO reference to my ACTUAL insurance company, does NOT state a company name other than the person's name printed as a 'signature' on the bottom and states that it is 'secured by' (my mortgage company's name).

It looks 'official' but makes no sense as it does NOT state a company name.

 

[bionic knees]

yes, we get them all the time, fukin scammers. they want you to give them info they can use against you.

 

[Camelfilter]

yes, we get them all the time, fukin scammers. they want you to give them info they can use against you.

Yah, phishing for folks financials & such.

There's a place in hell for all scammers, an especially evil place for those that prey almost exclusively on seniors…

 

[Mikej]

I get those emails on a regular basis. But mostly, I have many THOUSANDS of $$$ worth of computer virus protection.

 

[GrayGoose]

Scammers and child molesters all have one common final destination...

 

[RVTECH]

I get those emails on a regular basis.

I was just surprised I was getting it 'snail mail' and many times.

A couple years ago however several if us in the neighborhood were getting letters from a Real Estate Co. in Potland about offers to buy our houses for CASH but for WAY less than they are worth.

I told my neighbors who got them (some elderly) I would follow up on this and see whats up.

OK Google map of the 'Real Estate Co.' showed an apt somewhere in Potland. I emailed them as though I was 'interested' and got a response. I got a call from some guy and I indicated WE were not happy about this and WTF was up about it.

Turns out the guy admits he was college stu working for an 'investor' handling all the paperwork, letters emails etc. and he apologized and told me we would see no more letters.

I told him good because if we saw any more I would call the Real Estate Commission ( or whoever the Eff would deal with something like this) and report it.

No more letters.....

 

[GrayGoose]

A couple years ago however several if us in the neighborhood were getting letters from a Real Estate Co. in Potland about offers to buy our houses for CASH but for WAY less than they are worth.

I told my neighbors who got them (some elderly) I would follow up on this and see whats up.

OK Google map of the 'Real Estate Co.' showed an apt somewhere in Potland. I emailed them as though I was 'interested' and got a response. I got a call from some guy and I indicated WE were not happy about this and WTF was up about it.

Turns out the guy admits he was college stu working for an 'investor' handling all the paperwork, letters emails etc. and he apologized and told me we would see no more letters.

I told him good because if we saw any more I would call the Real Estate Commission ( or whoever the Eff would deal with something like this) and report it.

No more letters.....

I get those often, both letters and phone calls, more than weekly too, from various senders or random phone numbers, for years since paying off the house. I keep blocking the phone numbers each time but they keep changing them. Frikken scumbags deserve the woodchipper treatment.

 

[MannyGlocks]

Awhile back, we got at least one, sometimes two phone calls a week, asking if we'd like to sell our home.

This went on for about two years and tailed off to a call only once a month or so, until finally, they've stopped altogether.

Who in their right mind would agree to someone 'cold calling' them to sell their home?

If, I want to sell my home, I'd engage the services of a licensed real estate agent, not some random scammer.

But, some must've fallen for this eye rolling scam call or the scammers wouldn't have kept at it...

 

[gmerkt]

Homeowner's insurance is a scam. Unless or until your house burns down. But until that happens, you pay through the nose and are reluctant to file any claim short of complete loss for fear of cancellation.

 

[washagonian]

Scammers and child molesters all have one common final destination...

Yes, they do. It's called - executive board member of an NGO funded through USAID (making $250K per year).

On the way to this final destination, many of these scammers and child molesters become state legislators and/or members of the US congress.

TWYLALTR.

Cheers.

 

[Mikej]

Who in their right mind would agree to someone 'cold calling' them to sell their home?

Bless you heart! You'd understand if you lived here to see how the "Elected" screw over a once great town.
Making major 4-lane arterials in the city into 2-lane arterials. As a "For Instance".

Potland is probably one of their best markets!

 

[gmerkt]

Who in their right mind would agree to someone 'cold calling' them to sell their home?

I agree in principle. But I have an otherwise rational friend of 60 years standing who sold a house basically on this basis. I don't know if it came about from a phone call or a mailed solicitation. It wasn't a scammer, but one of those bottom-feeding firms who typically buy distressed or otherwise hard to sell properties. In this case, the house was owned jointly with an elderly uncle. The place was built in 1945, had never been upgraded, and needed many repairs (such as you could see the dirt under the house through the floor in one place). They took the offer from the bottom feeder because it was easy and fast. No rapacious real estate commish to pay, no long drawn-out escrow, just a check in the hand and adios.

 

[Cavedweller]

Anybody else getting a scam letter (yea snail mail) about how 'failure to call and prevent a potential lapse in coverage COULD result in YOU being liable for all costs associated with any home repairs' ?

It's just a clumsy attempt to try and fool you into buying a home warranty policy by implying your current warranty (which you do not actually have) is about to expire. I have gotten these and similar one's pushing auto warranties occasionally. I don't even bother to read them. They go straight into the recycle bin as I pass by on my return trip from the mail box.

Awhile back, we got at least one, sometimes two phone calls a week, asking if we'd like to sell our home.

I get these type post card offers about once a month or so. They get the same treatment as the waste paper described above.

Homeowner's insurance is a scam. Unless or until your house burns down. But until that happens, you pay through the nose and are reluctant to file any claim short of complete loss for fear of cancellation.

I wouldn't go that far. My homeowner's policy paid off quite well when a neighbor's tree fell on my house during the ice storm a few years ago. Anyway, there's not much you can do about it unless you own your home outright. Most mortgage lenders will require that you have it.

 

[Cavedweller]

...and states that it is 'secured by' (my mortgage company's name).

This information is available in public records. They can tell if you have a mortgage and who the lender is by looking to see if a bank has a lien on the property. Now that county records are computerized and in some cases even available on line it is quite easy for them to search this stuff.

 

[gmerkt]

I wouldn't go that far. My homeowner's policy paid off quite well when a neighbor's tree fell on my house during the ice storm a few years ago. Anyway, there's not much you can do about it unless you own your home outright.

We were covered by a well-known insurance company for over 30 years. During that time, we had zero claims of any kind. Then in 2017, we had a water damage claim from a leaking pipe in a bathroom. Then over a year later, we had another such issue that resulted in a claim. At that time, it was discovered that the water pressure regulator where the water supply comes into the house was defective. We had about 115 pounds of water pressure throughout the house. I think 80 is about the recommended maximum. Anyway, this caused our long-standing insurer to cancel our policy.

We own the property outright. We could do without insurance. However, there is always that chance, however slight, of a catastrophic loss. I went to an insurance broker and got coverage elsewhere. We were on a "rehabilitative policy" for a few years but I think we are clean now.

This all left a very sour taste in my mouth about home owner's insurance. Your agent won't tell you not to submit a claim, but they will say things that will make you think twice about doing it. Insurance companies thrive by taking risks. They are gambling that they won't have to pay out. But when they lose a bet, they get bent out of shape.

 

[Cavedweller]

We were covered by a well-known insurance company for over 30 years. During that time, we had zero claims of any kind. Then in 2017, we had a water damage claim from a leaking pipe in a bathroom. Then over a year later, we had another such issue that resulted in a claim. At that time, it was discovered that the water pressure regulator where the water supply comes into the house was defective. We had about 115 pounds of water pressure throughout the house. I think 80 is about the recommended maximum. Anyway, this caused our long-standing insurer to cancel our policy.

We own the property outright. We could do without insurance. However, there is always that chance, however slight, of a catastrophic loss. I went to an insurance broker and got coverage elsewhere. We were on a "rehabilitative policy" for a few years but I think we are clean now.

This all left a very sour taste in my mouth about home owner's insurance. Your agent won't tell you not to submit a claim, but they will say things that will make you think twice about doing it. Insurance companies thrive by taking risks. They are gambling that they won't have to pay out. But when they lose a bet, they get bent out of shape.

It's unfortunate that you had that experience. However, there are insurers and there are insurers. Reputable insurers, rather than gambling, operate on an actuarial basis. That is the nature of the industry. Since risk is spread over a large population, their expected losses in any normal operating year are more or less predictable, and their risk of loss is built into their premium structure, so that premiums are sufficient to pay contract obligations as well as provide a margin of profit. They don't need to screw clients over in order to make money. Of course, their are always abnormal events like natural disasters that may cause unusually high claims in any given year, but that's why they keep reserves, and over time the actuarial system takes the gamble out of the business.

Actuarial science - Wikipedia

en.wikipedia.org

I have been with USAA for all my insurance needs for 40+ years have never had reason to complain (not an advertisement, just a statement of fact). If you are military or ex-military, or a family member of such, and not with USAA, you might want to think about switching.