In order to participate in the GunBroker Member forums, you must be logged in with your GunBroker.com account. Click the sign-in button at the top right of the forums page to get connected.
Options

Ever have to use your Homeowners Insurance Policy -

KenK/84BravoKenK/84Bravo Member Posts: 12,055 ✭✭✭✭
edited July 2020 in General Discussion

Do you know what your deductible is? Having to replace a 57" X 37" built in double pane casement window. Falls below my deductible. Thank you. Thank you very much.

On the otherhand, It could have cost more.

Good thing I pay those premiums every three months. 😉

· Share on FacebookShare on Twitter

Comments

  • Options
    KenK/84BravoKenK/84Bravo Member Posts: 12,055 ✭✭✭✭

    Got a text from my adjuster. "That's great. I will close out your claim."

    Sent him back. "Thanks so much for all your help. I will make sure to keep those premium payments coming in."

    · Share on FacebookShare on Twitter
  • Options
    spasmcreeksrunspasmcreeksrun Member Posts: 1,755 ✭✭✭
    many many years a go i went to Omaha Nebraska and saw lots of huge modern buildings housing insurance companies...they can afford those on the difference of what they take in and what they pay out.......when i was farming full time and rolling along i had 17 insurance policies with farm bureau ...never had a claim till a storm damaged one circle of corn ...harvested results showed a loss of what the other two identical circles made and FB only wanted to pay 1/3 of that difference ..new young agent was gonna make his mark.....dropped all policies and found matching for 40% less and no annual fee.......check around every few years and see what is available ..you are not married to an insurance company
    · Share on FacebookShare on Twitter
  • Options
    KenK/84BravoKenK/84Bravo Member Posts: 12,055 ✭✭✭✭

    Actually Erie Ins. has been excellent in every regard with my vehicles. Multiple claims due to deer strikes. Never raised my rate.

    First Homeowner claim. Was surprised what my deductible was. Thank you. Thank you very much.

    I think my adjuster gets my anger. Will be curious to see if he responds. (If at all.)

    · Share on FacebookShare on Twitter
  • Options
    BobJudyBobJudy Member Posts: 6,474 ✭✭✭✭
    Ken my insurance has options for what deductible I carry. Mine is rather high but the money I save on the cost of the policy over a few years would offset the deductible if I have to make a claim. 5 or so years ago I had storm damage to a metal shingled roof on the house. It was in the midst of a construction boom around here so the insurance company did a cash settlement because of not being able to schedule repairs quickly. I replaced the metal shingles with the longest lasting asphalt shingles on the market. Had enough left over to get some other exterior home projects taken care of. Didn't regret my rather high deductible and had no out of pocket expense. Bob
    · Share on FacebookShare on Twitter
  • Options
    mogley98mogley98 Member Posts: 18,297 ✭✭✭✭
    With all the roofers filing claims for free roofs due to hail damage somebodys gotta pay LOL
    Why don't we go to school and work on the weekends and take the week off!
    · Share on FacebookShare on Twitter
  • Options
    JohnERebJohnEReb Member Posts: 113 ✭✭✭
    Yeah, I get ticked off too when those insurance companies black out the deductible on my policy so I can't see it. :)
    · Share on FacebookShare on Twitter
  • Options
    JimmyJackJimmyJack Member Posts: 5,397 ✭✭✭✭
    The amount of deductible you have determines the rate you pay.  The policy holder determines the amount and if you want to lower your deductible be prepared pay a higher rate.  
    · Share on FacebookShare on Twitter
  • Options
    mogley98mogley98 Member Posts: 18,297 ✭✭✭✭
    Nope not even after Hugo! I would love to open a Insurance company personally inspect all the properties and check out the people and make a mint! Maybe Insurance should go the way of Co op like the Healthcare thing for Christians
    Why don't we go to school and work on the weekends and take the week off!
    · Share on FacebookShare on Twitter
  • Options
    mogley98mogley98 Member Posts: 18,297 ✭✭✭✭
    JimmyJack said:
    The amount of deductible you have determines the rate you pay.  The policy holder determines the amount and if you want to lower your deductible be prepared pay a higher rate.  

    Actually I offered to self insure for a significantly higher amount if it would lower my premiums substantially and it would not so I stayed with the 500/1K
    Why don't we go to school and work on the weekends and take the week off!
    · Share on FacebookShare on Twitter
  • Options
    KenK/84BravoKenK/84Bravo Member Posts: 12,055 ✭✭✭✭

    I do acknowledge the higher deductible, lower rate argument. I'm okay. Repairs were less than I thought. Just venting. Thanks for bringing me back down to earth guys.

    It's all good.

    Life could be much worse. No worries.

    · Share on FacebookShare on Twitter
  • Options
    chmechme Member Posts: 1,466 ✭✭✭✭
    I worked for Ye Colde, Heartless Insurance Companie, Amalgamated for a number of years.  Just a note- as far as the "profit" they make- We would typically take in a dollar.  Pay out claims, commissions, state license fees, employee salaries, rent, light blli- and pay out around $1.01.  HOW CAN THEY DO THAT?

    While they are holding your dollar, they invest it.  The interest on the investment is where they make a profit. 

    If you don't know what your policy covers- and what it does not- and how much your deductible is- shame on you.    
    · Share on FacebookShare on Twitter
  • Options
    JunkballerJunkballer Member Posts: 9,176 ✭✭✭✭
    chme said:

    While they are holding your dollar, they invest it.  The interest on the investment is where they make a profit. 
    True, in the past I bought/financed 2 farms through insurance loans, banks and other lending institutions couldn't touch their terms and interest rates. I'd say better than 50% of America is financed through insurance money........including many of Donald Trumps personal holdings  :) 

    "Never do wrong to make a friend----or to keep one".....Robert E. Lee

    · Share on FacebookShare on Twitter
  • Options
    grdad45grdad45 Member Posts: 5,317 ✭✭✭✭
    Years ago, someone broke into my truck tool box and stole a bunch of tools. My homeowners covered the tools, but not the $400 tool box, because it was attached to the truck! No problem, the list of premium tools I lost almost made up for it.  >:)
    · Share on FacebookShare on Twitter
  • Options
    owlesowles Member Posts: 100 ✭✭
    Limited Lines Brokerage. To me it looks like they've pickup 3hrs of ethics until 4hrs of annuities is completed on the other hand having been in just recently seems to satisfy the ltc requirement in all 48hrs... + 21hrs renewal?
    · Share on FacebookShare on Twitter
  • Options
    kannoneerkannoneer Member Posts: 3,355 ✭✭✭✭
    owles..........could you please reply in English for those of us who do not speak Gibberish?
    · Share on FacebookShare on Twitter
  • Options
    pulsarncpulsarnc Member Posts: 6,249 ✭✭✭✭

    Having worked in psychology all my life it is obvious , at least to me what is going on . Either he is totally off his usual medications , or he is trying to “ be funny” and jerk our chains

    cry Havoc and let slip  the dogs of war..... 
    · Share on FacebookShare on Twitter
Sign In or Register to comment.