Allstate, State Farm, Other Bad Faith Insurance Companies Rack up Record Profits by Cheating Customers

Allstate, State Farm, Other Bad Faith Insurance Companies Rack up Record Profits by Cheating Customers: "Allstate, State Farm, Other Bad Faith Insurance Companies Rack up Record Profits by Cheating Customers
Date Published: Friday, August 3rd, 2007


Bad faith insurance companies like Allstate and State Farm systematically lowball claims, delay paying on them or arbitrarily change the terms of homeowners’ insurance policies in order to limit the amount of money they spend on claims. According to an article on Bloomberg.com, these practices have left thousands of homeowners in dire financial straits, while at the same time they’ve fattened the wallets of the bad faith insurance companies."