Last fall, I wrote a blog warning you about Fred Loya insurance. I’d like to revisit it today because we keep discovering reasons that this company is so bad.
Recently, we’ve received calls from accident victims who have Fred Loya insurance and they can’t get the company to return their calls! Sharon Killoran, the O’Sullivan Law Firm legal assistant, has made calls to Fred Loya on these victims’ behalf and has run into stonewall after stonewall after stonewall. And she’s calling on behalf of their own clients! Imagine if you were the victim of an accident and the other driver had Fred Loya; you might literally never get a response to your claims.
“I never, ever get a live person on the phone when I’m calling Fred Loya,” says Sharon, who notes that Young Americans insurance is also part of this shady company.
Fred Loya insurance is the worst of the worst insurance companies.
We were recently contacted by a victim who was told by Fred Loya that he had “full coverage” but he had the bare minimum of coverage. This poor man was hit by someone who had only $25,000 of insurance, so he needed his own insurance to help pay his medical bills. However, because Fred Loya steered him wrong, he doesn’t have enough to cover his needs.
Yet, he couldn’t even learn this bad news on his own because his own insurance company wouldn’t answer his calls!
Fred Loya is the worst of the worst insurance companies. This company literally preys on disadvantaged people who see the low-cost insurance and think that they are purchasing protection. But, just like this example illustrates, Fred Loya disappears when claims are filed. If your insurance company disappears when you make a claim, that is like having no insurance at all.
Additionally, Fred Loya claims to offer every kind of policy but they truly don’t; they only issue liability coverage for the bare minimum required by the State of Colorado: $25,000. This is not enough coverage. If you are insured by Fred Loya, assume that your other assets, such as your home, are at risk if you get in an accident because your policy is too low to cover most damages from an accident.
You should care even if you use another company
If you are covered by a different, respectable insurance company, why should you care? Two reasons:
- Even if you have good insurance, if you get hit by a driver with Fred Loya insurance (a growing risk as the company expands in Colorado), you will likely never get what you need to replace your damage and healthcare costs.
- Our community’s at-risk populations are struggling enough as it is. We should all be angry at a company that makes life even harder for them.
I urge you: get the word out today. Share this article with everyone you know. We must protect our community from Fred Loya Insurance.
Again, please help to get the word out about this horrible company. And in the meantime, check your own policy to be sure you have enough UIM – underinsured motorist coverage – in the event that you are hit by one of these drivers. Call us if you have questions: 303-388-5304.