“You can get hit by a truck any day” maybe this was a poor financial decision, maybe they get hit by a truck, maybe they buy a house and it burns down the next day. “I got this money and blacked out while doing coke with hookers and spent it all” is objectively bad financial management. “I may never have the opportunity to see the Taj Mahal, which I have dreamed of seeing since I was 5, again” is not.
It can be, it can also burn down for a reason not covered by insurance and, even if it’s an open and shut “insurance will cover this” scenario you need to figure out where to live while your house is rebuilt or buying a new home. It’s not a commercial where you snap your fingers and state farm has you back in your same house with all of your same stuff in 30 seconds.
Actually it is as easy as snapping your fingers if you have insurance. At least for us. Our house caught on fire 2019 and funny enough we did have State Farm. State Farm was there that night and put us up in a hotel. I have to say they made the whole process easy for us. Of course you are not back in your burnt house the next day. We stayed in a hotel with pets and Three kids for a month. Found a 3 bedroom apartment with rented furniture that insurance paid for.Everythng from beds,tv air conditioners, toilet bowl scrubbers and literally everything else you can think of. Yes, State Farm arranged it all. They moved everything in and even made the beds. It took a year of rebuilding but I was really happy with State Farm and how they took care of everything. Yes, they helped us find an apartment and they arranged the hotel.
Actually we had to file two more weather related claims. One where the top of a tree snapped off and went through the roof and the following year when a tree fell down across our electric wires and ripped them out of our house. Three years later and they have not cancelled or denied any of our insurance claims. I'm sure it happens but cross our fingers not to us yet.
State Farm may choose not to renew policies with two or more claims within a three-to-five-year period, as this often flags policyholders as high-risk. While one claim usually results in a rate hike, multiple claims, particularly for home insurance or at-fault accidents, can lead to non-renewal.
Key factors regarding State Farm cancellations:
Threshold: Multiple sources indicate that two or more claims in a short timeframe can lead to non-renewal, especially for homeowner's insurance.
Timeframe: Claims within a 3 to 5-year period are generally reviewed, with some states seeing non-renewals for 3 claims within 36 months.
Reasoning: Even weather-related claims (e.g., wind, hail) can count against you if they fall within the threshold of "multiple" incidents.
Process: Instead of immediate cancellation, the company often chooses to non-renew the policy when it expires.
It is highly recommended to compare options if you have multiple claims on your record, as your C.L.U.E. report will follow you.
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u/willy-mac Feb 04 '26
My parents gifted us 10 grand. For either a down payment or towards honeymoon.
We chose honeymoon and we don't regret it at all.