Insurance Rant
nunn
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Don't you just love insurance? NOT! It's a necessary evil, I suppose, but an evil that I abhor.
We had a lightning strike. It took out our Internet service and equipment, DISHTV service and equipment, two televisions, and a garage door operator. Only around $1200. Not a cent was covered, because the insurance lobby has the legislature in their pockets, and forced legislation of minimum 1% deductible instead of the standard $500.
And they insist on raising our coverage limits from time to time, for "our protection." So, they get more money in premiums, and of course, the deductible goes up as well, decreasing the chance that we will ever file a claim.
It's a win-win for the insurance companies. We use State Farm, but they're all that way.
No asking if we wanted it; they just did it.
Comments
Thanks, didn't know that. I guess I'll be checking with my agent.
Some companies still have standard deductibles.
Death, taxes, and insurance--the certainties of modern life. Sorry for your loss. As a retired electrician, I will advise you to have your wiring checked. I went to a house that had been hit by lightning, and found several problems that could have caused a fire if not repaired.
100% totally agree.
Ohhhh Boy!! Don't get me started on all the ins and outs of insurance! It is organized crime made legit by the powers that be! 😡
For years I have used insurance companies that you do not see advertising on TV. I have had reasonable rates and good service. I go to a local insurance office that handles different companies and they have done well by me.
One of my nephews is a state farm agent but I will not use state farm as they were less than courteous or reasonable when I had an auto and injury's claim after being rear ended by one of their customers. I had to end up letting an attorney handle it and they ended up paying more than I asked them for. No, I didn't try to get rich or rob them I only asked for the medical bills to be paid and the replacement cost on the car, it was totaled. I had four kids in the car.
State Farm is probably the worst of the worst. I wouldn't ever even talk to them.
And fiery auto crashes
Some will die in hot pursuit
While sifting through my ashes
Some will fall in love with life
And drink it from a fountain
That is pouring like an avalanche
Coming down the mountain
I wonder about all those who get their insurance advice from a Lizard or an Emu!
I have had State Farm on my autos and home for over 30 years and have never had a situation occur that I was displeased with. I believe the agent has a lot to do with it. Three roof claims that were easy to deal with and paid quickly and generously. One auto wreck on my son's truck that was other persons fault and their insurance company (Liberty Mutual) tried to say he was 50% fault when the other person backed out of a driveway in an apartment complex into the side of his truck when he was simply driving down the street.. They said he should have stopped and therefore he was partly responsible. I just turned it over to State Farm agent, paid the $250 deductible and said "Take care of these idiots.". They refunded the deductible after taking care of the idiots.
What chaps my butt is the fact that they will sell insurance cheaper to a new customer than what it takes for a renewal.
Not in Texas. The insurance lobby bought off the Legislature...again.
I have Erie insurance, so far so good. With that said if, God Forbid, my house burns down I can't take its replacement value and replace it with a lesser home and get the difference back. If it would cost 180K to rebuild what I had and if I decide to buy a pre-fab for 75K I do not get the difference even though I actually lost money. Insurance is a racket ran by smart lawyers and accountants to assure the company always wins and the policy holder loses.
Don't even ask for a MOLD rider! That's a four letter Word! And it will cost you big time now.
serf
State Farm coverage is set at an amount but then if you build back, then you get an additional 20 percent of coverage. Say, if your home is destroyed and coverage is $250k then that is your claim. But if you build back, it is $300k of coverage. Which of those $$ of coverage you are paying for is, of course, the big unknown. I bet it is not to the homeowners benefit.
Yep, back in the early to mid 80s I worked in a shop that also had a body shop. I used to see that State Farm insurance adjuster screwing with the body man. I decided then I would never have anything to do with State Farm. Nothing has changed my mind on that.
we had an "earthquake" rider on the old house, something like $35/year, because we sit on the New Madrid fault and there could be some some damage from a quake.
Flood insurance is another rigged ballgame. It all depends on the FEMA flood risk maps. We are well above the 100-year flood line so we aren't "required" to carry the expensive federal insurance.
Who knows how accurate those maps are -- they are based on damage from historical floods but how much has the drainage changed since then? The flood line is at the base of our sloping lawn.
At 18 my father had me take out an annuity-life policy. At 25 an insurance salesman explained that the co. could take out a cheaper term policy on me & invest the rest of the premium. So I cancelled & cashed-out the annuity, took out a term policy myself & banked the extra. To try & get me to work with him PT, he gave me the agency's kick-back, which was more then I paid for the first year. Not only did I not go to work for him, but I didn't renew the term policy. I didn't need it as I had a policy thru work which was more then I needed. He said I learned too quickly.
We have had Farmers auto for almost 40 years. Last time it came due I called our agent to see if there was something less expensive. I told him that I thought the rates were excessive, for the little driving I was doing, (covid) and I was going to shop around this time. He said Farmers was working on something, to give him a chance to see if it would help. He called me back after a while, with a quote that was LESS THAN HALF of what I had been paying. I was paying MORE than double of what I could have been paying. I think I will shop around next time it comes due.
As for home owners, on our old house, We were in the flood of 2013. Our policy did not cover anything. Lost everything in the basement. Pump for the well, heater, water heater, etc. When we moved into this house. They will not insure us. They say there are too many trees to close to the house. They don't care if some of those trees are on the neighbors property. There are trees CLOSER to the old house, than this one. I think it is just because we do not have a mortgage on this one.
Insurance---what a racquet.
I have USAA. You have to have been in the military or still in, Reserves or Active, doesn't matter, be a military dependent, spouse or grandchild of military member.
Occasionally I have shopped around. When asked by various agencies who holds my current insurance and I let them know, they explain they can't beat their rates.
It's member owned and at the end of each year, depending on their bottom line I have funds deposited into my subscribers savings account. A percentage is paid to me at the end of the year as well. It's usually between $250 and $1000 each year along with what they put in the account. Their customer service is great.
I have home owners and auto.
was shopping around for insurance on my UTV and asked USAA, they won't insure ATV/UTV's in West Virginia for some reason, was told no coverage available, that was enough to turn me against them..... and yes every other company did have coverage in WVa, though most are double or triple Progressive's quote.
SF just paid a hail damage claim and replaced a roof for the deductible.
Health Net & Primerica saying good by to Medi Cal and BS the Doctors (Patient Services.) So, long Jury Duty!
First and foremost is a $100 premium a $3400 deductible? Free, its worth a look see...
Whoa!
Our 4 star assistant Ai bot is learning to regurgitate more coherent sentences.
Pass the hand grenades...
Folks, insurance companies are in business to make money. They are doing a very good job at that.
Many have far to much political clout and are in collusion with government. Prime reason it is expensive.
Take a close look at Obama care if you doubt me. Places both insurance companies and government in charge of healthcare.
Mandatory liability insurance to drive and if you own a business, you must be insured or end up in court.
Come up with a type of insurance to protect me from the tentacles of ominous government and I am all in,
When the government tells me I have to buy something, it scares the hell out of me.
I dont know this for sure,but I assume insurance companies must have a huge slush fund just to pay claims from the ambulance chasing attorneys that advertise on TV.We are probably paying at least double what our premiums should cost just to pay that expense.