Insurance Companies are Not Looking out for your Best Interest
Many clients often ask why their insurance company does not pay their claim when they pay their insurance policies on time. The simple answer is that an insurance company is a businesses. They want to keep as much money as they can. The longer the insurance company holds on to the money the more interest it can earn from their investment. The insurance company wants to make a profit each year, not break even or lose money. Insurance companies often pull out of states if they do not think they can make money there.
I recently read an article from the American Association of Justice that rated the top ten worst insurance companies in the United States. The article is very interesting to read. It can be found here. http://www.justice.org/docs/TenWorstInsuranceCompanies.pdf
Look at states that have hurricanes. Most of those insurance companies pulled out from those states because it was no longer profitable.
I would be interested to see how many auto theft cases are paid by insurance companies where the car is stolen in Detroit. I would bet the number would be very low. The insurance companies deny many of these claims because they know most people will not litigate these cases.