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State Farm canceled me today

MnDroner

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#1
Yep, had filed a claim this past fall (Oct) when I crashed my Mavic (total loss). Received a payout and bought a new Mavic. I contacted them and gave them the updated serial number of the new drone to continue with the policy. Today I received a letter from State Farm saying that my policy will NOT be renewed due to the fact that I had made a claim. Looks like State Farm is getting smart to the fact that its a no win policy on drones. At least my policy goes till April before I have no more coverage on it. BTW this is the first claim I have made on any Ins.policy I have taken out in 25 years with State Farm.
 

wytnyt

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#4
i figured something like this would happen soon or later as a drone is high risk,bad part are those that have car,home and such on their policy.
 

kakao

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#6
No one in Australia is willing to insure a drone while in use. Only at home.

:(
 

zezrum

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#8
Will the claim impact your future insurance renewal rates? I assume insurance carriers share claims detail?
 
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wytnyt

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#9
Will the claim impact your future insurance renewal rates? I assume insurance carriers share claims detail?
im sure its along the same line as a credit score,nothing is secret these days.
 
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MichiganMavic

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#10
I wouldn’t be surprised if all State Farm insurance agents get a notice about not insuring drones in particular soon. The bean counters will figure this out soon and if they are losing more than earning, No Coverages!
 

tcope

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#11
I mentioned this in a post but it was some time ago. If this was the only item on the policy State Farm _should_ cancel the policy once the item has been paid for. Let me explain...

You obtained a policy for (I'll make up the number) $1000 worth of coverage for $60. You filed a claim and the company paid $1000. They have now fulfilled the terms of the policy. So it should be terminated. It makes no sense for them to then give you another free $60 for another $1000 worth of coverage. Make sense?

So, the policy may not have been cancelled because they no longer want the risk (though, that is possible), it may have been cancelled and the policy ran it's course. I recommend that you contact your agent and ask about this.
 

tcope

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#12
Typical, want to take your premium but not keen on paying out when it all goes wrong!
Did they not pay out? Odd... I thought the OP stated that they did pay out. So, they collected the agreed premium and paid out. ( mod removed ) for doing as they promised!
 
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Anthony Viscomi

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#14
I mentioned this in a post but it was some time ago. If this was the only item on the policy State Farm _should_ cancel the policy once the item has been paid for. Let me explain...

You obtained a policy for (I'll make up the number) $1000 worth of coverage for $60. You filed a claim and the company paid $1000. They have now fulfilled the terms of the policy. So it should be terminated. It makes no sense for them to then give you another free $60 for another $1000 worth of coverage. Make sense?

So, the policy may not have been cancelled because they no longer want the risk (though, that is possible), it may have been cancelled and the policy ran it's course. I recommend that you contact your agent and ask about this.
100% correct...I insured my home, 3 cars and motorcycle through SF, thus I would imagine that if I were to submit a PA claim they would think twice about canceling me.
 
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CCTjohn

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#16
Been with State Farm for about 20 years. Current Policies on house, two cars, camper and now my mavic.

When I set up the PA policy I asked about premiums if I filed a claim. He said "we don't charge a penalty for personal article. Now I would go out and crash it three times but you'll be okay."

That said if I crash, and get paid out it is still in State Farm's best interest to keep me.
 

tcope

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#17
Been with State Farm for about 20 years. Current Policies on house, two cars, camper and now my mavic.

When I set up the PA policy I asked about premiums if I filed a claim. He said "we don't charge a penalty for personal article. Now I would go out and crash it three times but you'll be okay."

That said if I crash, and get paid out it is still in State Farm's best interest to keep me.
The PA is completely separate from your other policies. What Sf _should_ do if they pay out on the PA is cancel that policy (if the only item on the policy is what they paid for) and simply keep your other policies active. This is not an all or nothing thing. These are separate polices. Just as a carrier could cancel an auto policy but not cancel a home owners policy for the same person.

If an agent tells you that your premiums won't change if you have a claim, ask for it in writing. Anything less means nothing. There is a good chance they won't commit themselves to this beyond trying to sell you something. If they will, great. It's like asking a car salesman if you are getting a good deal.
 
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MnDroner

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#18
I mentioned this in a post but it was some time ago. If this was the only item on the policy State Farm _should_ cancel the policy once the item has been paid for. Let me explain...

You obtained a policy for (I'll make up the number) $1000 worth of coverage for $60. You filed a claim and the company paid $1000. They have now fulfilled the terms of the policy. So it should be terminated. It makes no sense for them to then give you another free $60 for another $1000 worth of coverage. Make sense?

So, the policy may not have been cancelled because they no longer want the risk (though, that is possible), it may have been cancelled and the policy ran it's course. I recommend that you contact your agent and ask about this.
Policy was not cancelled, it expires in April. The letter states that I may not "renew" the personal protection policy with State Farm due to the fact that I had made a claim under it with my drone as insured item. Guess its all about the money, that's how it works. Pay em for years, 1000,s of dollars for my auto and business policy's and had never made a claim. One claim on a PP policy and they refuse to insure it (drone) anymore.
 
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#19
How do I go about setting up a policy with them? Whats type of policy is it under, etc...
 

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