I live in a flood zone in Toms River, NJ. I am required to carry flood because I have a mortgage. The problem is the insurance company I have right now and the agency are ripping me off and no one can give me a straight answer. I have insurance with The Hartford and my agency is Cal Fed. The problem seems to be more with Cal Fed Agency.
In December of last year I was told that my flood insurance that I had was no good and that I needed to get new flood insurance within 30 days or I would no longer have a mortgage. They referred me to Cal Fed Agency to get a policy.
I sent them all the required information they needed and they said my flood would be $2042.00 per year. I thought that was a little high but the representative assured me that this was correct. He also assured me that he would fax over to my mortgage company that I had the coverage effective December 27th and he would also send a copy to Citibank because I am in the process of obtaining a line of credit.
In Mid-January I received a notice from my mortgage company again that they have no record of my flood insurance. I spoke with Cal Fed and they said they would take care of it. Also, since then I had been requesting my policy (which I just received on March 11th). It was required that I had $135,000 worth of coverage which I specifically asked for because of the line of credit I was trying to obtain. I then receive a phone call from Cal Fed saying we needed more information in order to give a policy, what???!!!
I then call them immediately with the information they requested and they said they would send me the policy as soon as they got it. I called Cal Fed numerous times to get my policy sent to me. I finally get it and its all wrong. The coverage is incorrect and I received a letter from The Hartford that they still don't have the right information for this policy, so if I had a claim they would not process it.
I cannot believe this!
I also found out from Allstate my rate should be $342 per year. There is a major problem here and I need help to get it resolved. I am considering contacting an attorney and filling charges against Cal Fed and The Hartford.
The kicker: I can't cancel my policy until January.
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