Complaint Category: Sales presentation used dishonest sales practices
Complaint: I was quoted for homeowner's insurance and less the a month it was rescinded.
My homeowner's insurance quote (QXXXXXXX) was rescinded due to
1. AGE AND/OR CONSTRUCTION TYPE OF DWELLING
2. # OF ACCOUNTS THAT HAVE BEEN ESTABLISHED
3. # OF OPEN ACCOUNTS WITH HIGH % OF BALANCE TO CREDIT LIMIT
4. ACCOUNT WITH A REPORTED DELINQUENCY STATUS INCLUDING BAD DEBT.
This quote should not have been added to begin with but it was and less the a month later taken away. A person should either have a specific time or a window of opportunity to research the quote. Moreover, considering that my mortgage has escrow the risk of not funding the insurance would be almost non-existent.
Initial Business Response
We are in receipt of your request for assistance dated April 18, 2014. ASI appreciates the opportunity to address Mr. ******'s concerns.
ASI has reviewed the quote completed by independent agent ***********. An insurance quote is a representation of the price a given home or risk would cost based on information provided. A quote is not an offer of insurance coverage. If a customer wishes to pursue a quote, they move onto the application process. At this point other factors, not included in the price, will be taken into consideration. This is the underwriting portion of the application which determines if a home or customer fits within the underwriting guidelines.
In this case, the insurance score in combination with the age of the home and roof resulted in the declination to offer of coverage. Underwriting guidelines, which vary by company, ensure the profitability and financial security of a company. It helps ensure our ability pay claims and keep rates stable within the marketplace. Unfortunately, Mr. ****** does not meet our underwriting requirements.
We encourage him to work with his agent to secure coverage with a carrier whose guidelines match with the insurance coverage requested. If you need further information regarding this matter, please do not hesitate to contact our Complaint Resolution Department at XXX-XXX-XXXX ext. **** or via e-mail at *******@asicorp.org.
Initial Consumer Rebuttal
(The consumer indicated he/she DID NOT accept the response from the business.)
Exceptions can be, and are, made on a daily basis, they are not doing anything or haven't said anything I do not know. If they can't make an exception and accept the quote then they should not have provided a specialized quote to begin with. Therefore, this response does not solve my complaint.
Final Business Response
We are in receipt of your request for additional assistance dated May 12, 2014.
To clarify, the quote you received was not specialized or pre-qualified. A premium quote can be obtained with relatively minimal information. An agent has the ability to present a price quote to customers. This provides the agent and customer a chance to decide whether an application for insurance is worth pursuing. Unfortunately, we are unable to offer a policy to each applicant. While exceptions are made on a limited basis, we are not comfortable making an exception based on the information provided in this case.
If you need further information regarding this matter, please do not hesitate to contact our Complaint Resolution Department at XXX-XXX-XXXX ext. **** or via e-mail at *******@asicorp.org.
Complaint Resolution: BBB determined that despite the company's reasonable effort to address complaint issues, the consumer remained dissatisfied.