I asked Buckner insurance in Utah to insure my warehouse in case of theft or damage. I had a bunch of nutra product and was worried if it was stolen or damaged. I told him i wanted cheap basic coverage. That is what i got originally. year after year the price of the policy rose a bit. From $3,000 to $5,000, and finally I thought it was as high as $9,000. so i asked him why it keeps rising. He says, its because you sell more each year. I asked him, why does it have anything to do with how much I sell. I could understand why it was higher because i had more product, but sales volume?? He never gave me a good answer and time went on. Then in early 2024 i got a letter from Berkley Aspire who had underwritten the policy for buckner. They said that I owe them $33,000. I told them, like hell i do. They attempted to take the money out of my account, but i refused and took it back. They told me I had to pay a penalty because i did more sales volume than the year before. I asked for the 50th time, why does that matter. They said because its a liability policy. I never asked for a liability policy.... never.... Im not sure exactly how i missed it, insurance agents are slick. I was never ever told that i could have to pay anywhere near $33,000 to have some insurance on my warehouse product. This was a complete scam. ive read reports where others have been scammed the exact same way. Berkley Aspire is a den of thieves. They mislead companies and then try to strong arm them to pay huge premiums in arrears. Please help me shut down these thieves.
Irv.
United States#2Consumer Comment
Fri, November 01, 2024
Why do you continually say "you weren't told"? Did you sign the agent's tongue or did you sign a WRITTEN AGREEMENT? What you agreed to buy would have been defined and explained in the policy and guess what? You didn't even bother to READ what you were buying BEFORE you bought it! Who's fault is THAT???