Business ProfileforCypress Property & Casualty Insurance Company

STAY AWAY FROM THIS COMPANY. They will rob you as they did with me (stole $****** in three months) . Originally I signed the contract for 1 year for the amount of$2297. Two months later they decided to increase coverage and cost by themself for $738. They also charged my mortgage company without my permission. I decided to cancel this insurance and get my money back for those 9 months which I haven'tused yet, but this is where their SCAM scheme was used. They gave me a return check of $2213 not based on the original amount which was in contract $2297 but based on the amount with that additional charge of $738 which they got without my approval from the mortgage company. They charged me for three months based of $2297+$738=$3035. Here is the math which I provided for them:2297/12=191.41 monthly payment 191.41*3=574.23 my charge for the 3 month 2297-574.23=1722.77 part of my return 1722.77+738=2460.77 this the amount which you should return to me ************=****** amount which you still owe me.But they don't care because they already got my money. I was talking to customer service team Leader - ***************************, and director of customer service ******************. They didn't do anything and just said we will no longer be able to ********* because your coverage has been canceled.People don't trust anybody'swords in that company and don't believethat your original price will stay the same for the whole year like it should be according to the signed contract. THIS IS THE WORST EXPERIENCE EVER, DON'T TRUST THEM.

Cypress Property & Casualty Insurance Company requires that all homes are insured to 100% of the replacement cost based on an industry accepted estimating tool, ISO360 Value. In the case of the application for ******************, the estimate run by the agent at the time of the application resulted in a replacement cost of $482,400. However, the agent amended this value on the application to $333,000 and wrote coverage for $333,000, instead of appropriately writing it for $482,400. The policy was effective on August 4, 2023.All companies have a 60-day underwriting discovery period in which to assure a property meets all underwriting criteria, including being insured to value. In this case, and after the underwriting review of the replacement cost tool, it was determined that the coverage needed to be increased to $464,200, to meet the insurance-to-value requirement. This change was made within discovery and a revised declaration was sent along with a separate email to the agent regarding the change in coverage. The permission of the policyholder is not required to make this change.The change in coverage resulted in an increase in the annual premium from the $2297 to $3035. Both amounts include applicable fees that total $100. ****************** requested cancellation of coverage effective November 2, 2023. The cancellation was based on the revised premium since, had there been a covered loss during the 90 days of coverage, that claim payment would have been based on the revised coverage amounts. As a result, a refund of $2213 was sent, which represents the pro-rated premium for 90 days of coverage. The refund amount does not include the fees, which are fully earned from the first day of coverage. The company retained $822, comprised of the earned premium of $722 plus the $100 in fees. There was no attempt to mislead or improperly refund ******************. We regret that the initial underinsurance of the property resulted in his dissatisfaction.