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FBL Financial Group, Inc.


Country United States
State Iowa
City West Des Moines
Address 5400 University Avenue
Phone 8005267270
Website https://www.fbfs.com/

FBL Financial Group, Inc. Reviews

  • Jul 20, 2016

In October of 2015 I cancelled my auto insurance with Farm Bureau Insurance but kept my home owners insurance. I was receiving a small discount for bundling the 2 but I found cheaper auto insurance elsewhere. I expected my remaining home owners insurance to go up slightly due to not qualifying for the discount. When I received my escrow statement for my home mortgage it showed that my insurance premiums had jumped about 73%. When I called my agent I was told that the reason for the increase was because the discount had been cancelled. But the discount was never that much in the first place and I never received any notice stating that my premiums were going to go up that much.

Their response: "Our insured had been receiving a large policy discount for having automobile coverages with us in addition to coverage for the home. When the insured removed the automobiles from the policy, a 38% discount was eliminated. In addition to the automobile account discount, this policyholder had an insurance score change that resulted in a premium increase of 30.3%. Unfortunately the two increases, along with some smaller rate adjustments, resulted in the increased premium."

The problem: We received the renewal notice which showed the increase due to the insurance score change but do not see any explanation of why the premium went up. We are unsure what caused the premium increase as we had no claims on our home that would have caused it. We never received ANY correspondence concerning the second increase and though we knew there was a discount for bundling both coverages, it was never disclosed to us at any time the size of the discount. Had we received any sort of communication showing the increase amount we would have changed our coverage immediately.

Their response was : "Insurance companies consider many factors in determining the rate for homeowner and auto coverages including a policyholder's insurance score and any new coverages that may have been added. When a change is made to a policy mid-term, the most current rates are applied. Itemized rate details are provided in the billing statement after a change is requested by the policyholder. In this case, a new declarations page was sent to the policyholder on 10/13/2015. This notice reflected the updated coverage, as requested, along with the new annual premium. At the policyholder's request, the agent can always quote a change before it is made to determine what the new rate will be."

Needless to say we dropped the coverage and found homeowners insurance for less than half what Farm Bureau charged us. And sadly, none of their responses seem geared towards customer satisfaction...just excuses.

If you are thinking of using Farm Bureau for any of your insurrance or financial needs, keep on shopping!

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