Economical Insurance Home Insurance Reviews
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I changed banks, so I called up my broker and give her the new info. She said to put to stop payment on next withdraw, just to be on the safe side. So I did. Well, Economical took it as a refusal of payment and cancelled my insurance. When I tried to reinstated, they gave me a price that was 30% higher than my original price, because I was a financial risk. That's after being with them for 6 years and never bouncing a payment
My claim for my kitchen ceiling collapse has been ongoing for over 3 years. Not once was I ever given any advice on how to house myself or what would happen to my belongings. I was lucky enough to find a rental after 2 years living in Horrible Motels. I have lost all my belongings and am still renting even though I spent my whole life paying off my mortgage but am still spending 1500.00pm for accommodations because my insurance accommodations funding has been depleted because of the length of time for them to deal with my claim. Run away from this company. Worst experience ever and still not done with!
This company cancelled our home insurance over the Christmas holidays. The reason - after being a client who pays on time for over a year, we were away and missed a payment date by 3 business days. They cancelled our home insurance without notice. We only found out after the fact - 4 days afterwards via our broker. Good thing nothing happened to our house over that time. When we called them to rectify the situation, we were abruptly told that our insurance could not be re-activated. For an industry predicated on customer service, it is unbelievable how little they care about customers. They are cheaper for a reason. Buyer beware, stay away! Don't risk your house. 4 days without house insurance is stressful. Stay away!
I paid my full policy. Started getting past due notices. Then realized they refunded my credit card payment. My broker was old and clueless. I could never get through to Economical. I was concerned I wasn't actually insured since they refunded my credit card. 30 minute wait times. I switched to TD on my home. Then got an aggressive email - we've sent you to collection notice for $150. Can't get through. This company is the worst. Totally useless operation. DO NOT USE.
I had been with Heinsoo Insurance for almost 26 years. About a year ago Heinsoo switched us to Economical because our rates were getting too high. When my husband changed banks, and forgot he had an automated payment with Economical. We received a call one day to tell us there was a problem and a registered letter (dated the same day as the phone call) cametoour door the next cancelling our insurance. They dealt with the problem as bullies. Well thanks Economical because I found insurance for half the price.
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We needed an answer to a question quickly. The adjuster would not respond to our calls and emails so we went to the office to ask our question. We were told that our adjuster was not available and there was no one available to speak to us. Really? My husband was escorted out of their office when he insisted on speaking to a manager. The security guard told us that Economical escorts people out of their office every day because customers are so upset and frustrated with the way they do business.
Reading the above comments which are all negative made me write my experience (which was actually a good one) as I know we all forget to write good reviews when things go as expected. When our broker found us a deal with Economical for our home insurance, we weren't too sure as honestly, we hadn't heard about them at all. We accepted since they gave us the best quote. In June our basement was flooded. Right after our tenant found out at around 7 am, I called the customer service and the gentleman who answered was very friendly and understanding. Not long after that, the inspection agent arrived and they started their work that night. We brought our own contractor but the whole process from the beginning to end went really smoothly. The specialist assigned to us was very responsive, kind and professional and made the process so easy for us. Overall our experience with Economical was much better than we expected and I always recommend them to family and friends.
Some insurance companies try to help their customers when an unexpected and unavoidable issue strikes. Apparently not Economical. The Economical adjuster was so focused on finding excluded Perils she seemed happy she could claim it was caused by wear and tear. Except it wasn't wear-and-tear of something I own or have any control of. They did nothing to help or even provide advice. Definitively, the worst insurance company I have ever dealt with. Buyer beware you think you have insurance I found out the hard way.
We have all heard the horror stories about insurance companies. This is not one of those stories. We had a house fire. Thank goodness nobody was injured. Economical Insurance had an adjuster onsite before the fire was out. He told us not to worry and that our claim had already been started. He assured us that everything would be alright and that the company was having a check written up right away to get us started.
It took 7 months to get the place rebuilt. The restoration company was swamped with claims but they did a great job. We are back in our house now. Everything is up to code and almost everything we lost has been replaced. The whole time we were out of the house, Mr. Fred Lee and Economical Ins. looked after us like we were family. We can't thank them enough but thanks again Mr. Fred Lee and all the staff at Economical Ins..
Economical will use any tool in their arsenal to refuse to acknowledge circumstances or conditions, will try and cancel the contract and sign you up for 4x the fees and threaten to blacklist you with other insurance companies. Between them and our clueless broker, we didn't have a chance. Stay clear, it may seem like a deal, but getting in bed with Economical is like signing up for herpes.