State Farm Statement
Angie Rinock, State Farm Insurance
FACTS:
When State Farm originally inspected the McDermott's claim, we found some damage on the roof and deemed the roof repairable. The engineer's report found different, additional damage than what we had found. The damage State Farm originally found, combined with the damage noted in the engineers report led us to amend our claims decision resulting in a full roof replacement for the McDermott's. After the $1000 deductible was applied, we issued a check to the McDermott's for $ 4,669.20 on July 23.
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We are in the business to pay claims. It is always our desire to pay what we owe. Of the more than 49,200 claims we've received from this storm alone, more than 99% of them have been closed. To date about 1,304 (less than 3%) of the affected policyholders have requested arbitration. This arbitration is binding on State Farm, but non-binding for the insured, meaning if they still do not agree with the arbitrator's ruling, they may pursue additional avenues to resolve their claim. Of those who have had an independent engineer evaluation, 278 have had the decision come back as a full roof replacement, 427 have required no additional payment on State Farm's behalf [and] 46 are still in the process in one phase or another. Over $265 million paid out to date; anticipated total payout will likely be $272 million. Approximately 420 official complaints to date - which is under one percent of the claims received.
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