Saturday, we got an insurance bill for Pony House. While he's making payments for it every month, we have not signed it over in his name. Our main insurance company does not handle "rental" property, which is what they term Pony House, since it is inhabited, yet it is not our primary residence. They have another company that insures "rental" property. Plus a different company that insures "rehab" property, like our flip house.
Anyhoo... we get the insurance bill for Pony House, pay it, then The Pony pays us for the premium. Here's the problem. Saturday, we got THREE BILLS for insurance on Pony House. What in the Not-Heaven? There was a bill addressed to our trust, which holds the title to Pony House. And a bill addressed to Mrs. HM. And a bill addressed to Farmer H.
The trust bill, and the Mrs. HM bill were in regular envelopes. They showed a cost of $1100-something, and a premium due of $808. The Farmer H bill showed a cost of $1100-something, and a premium due of $1100-something. Huh. Such a curious billing. None of the three envelopes included a payment stub and envelope. Said it could be pain online, or by mailing to "the above address."
Well. Suppose we mailed in a payment. Would the other two unpaid billings be reflected as overdue or unpaid?
Farmer H is going by our insurance office to discuss this matter on Monday. Because as usual, the bills are scheduled to arrive over a weekend, so you can't contact anybody with questions. At least our insurance bills, and medical bills. That's when they always arrive, regardless of date.
Our regular insurance agent is named on the billing. I assume he gets a commission, as with our regular insurance. So Farmer H is correct in going to the office to inquire as to the triple billing. He will also pay at this office, so there will be a record of payment on this account. I don't trust sending a payment without an official stub and a return envelope.
Imagine people who simply receive a bill and make payment. You can't trust anybody these days. Especially insurance companies. We have a different one for the flip house. It sends a bill three months before it's due. We hold off paying until a few weeks before the due date. Because if you pay so far ahead, and the property sells, good luck getting a refund on your payment! At least they include a payment stub and envelope.
6 comments:
I really do not like insurance companies. I know we all need insurance for one thing or another, but it seems like a racket to me. We used to say they must need to build another glass building when our premiums would go up. Last year I questioned why the premium on one vehicle was so much more than another, when the higher premium was for an older vehicle. Well, it triggered a looksee into all of our policies, and they reduced both of the vehicle's insurance with some reference to a "point" system that is used. Well, when the next premiums came due, the original premium cost was reinstated along with a hefty increase. When I asked, the answer was due to the high cost of materials and labor. I'm hearing some states won't even insure some people and when they do find coverage it is double what they were paying previously. I still think it's a racket, but what can you do? Good luck to Hick getting it straightened out on Monday. Ranee (MN)
Rae,
I agree that it's a racket, but we don't dare go without it! I find myself scrutinizing every bill that comes in lately, because even though it may not be deliberate, seems like people just can't do their jobs correctly!
Our homeowner's insurance went up again this year, even though Farmer H went to complain last year, and lowered our coverage. MATERIALS is always their explanation. I know prices have gone up, but Farmer H knows the cost of building per square foot, and said they must be basing it on prices in other parts of the country.
I hope Farmer H gets that properly sorted and paid and asks why you received three bills. Someone somewhere is either making a mistake or hoping you will just pay up and they can make themselves a little illegal profit.
I'm so glad you are not that gullible.
River,
I won't know until he gets home later after the auction. I can't imagine a company sending out three billings for every account. Surely that would cost a lot extra. So yes, somebody is terribly incompetent, or there's a scam afoot. Our insurance will be able to contact that company, since they are the one who recommended it, because they don't cover "rental" properties. We have an entirely different insurance company, also recommended, for our "rehab" flip house.
Ameren sent us 8 bills, on separate post cards every month, if one was lost in the mail before reaching us and we paid the other 7 and not that one that was losy they turned ALL of our power off, yet said they were unable to combine the 8 bills to the same address into one bill! I had lots of conversations with them over the almost 18 years! They would ask ME which bill was unpaid. I mean, shouldn't THEY know? I bet they get a lot of overpayments this way form unsuspecting people who just want the power on.
Kathy,
We have had trouble with Ameren OPENING AN ACCOUNT IN OUR NAME, even though we never contacted them to turn on electric, and didn't own the property! They did it THREE TIMES, with Farmer H calling each time to question the notification I got. Turns out one of their workers did it. WHY???
We currently get 5 bills. Mansion and BARn, flip house and beauty shop, and the SUS2. At least now we are down to three envelope, rather than five.
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