Question for those who live in California

[Snobdds]

Didn't you notice that the quoted Fed Chair was appointed by the previous president?

A point that has little bearing on the realities of today...

 

[two_bit_score]

You mean like mandated green policy and the no bail criminal revolving door? Or stricter self defense laws.

I think it was California where some shop keeper had to defend herself against a robber who stabbed her. When the shop keeper got the knife away she killed the robber but the police arrested the shop keeper.

I think the robber was a windmill mechanic out of work and was robbing the store to get money to pay his car insurance premium.

 

[ultrarunner]

I know of a few that are self insured…

They may have a liability policy but fire, flood, earthquake on their own.

 

[jyoutz]

The idea that greedy insurance companies are driving inflation is cow poop. The insurance industry is reacting to higher costs of doing business. We all see the cost of everything going higher daily as the dollar continues to lose value. The current admin has added a staggering amount to the national debt and they are not done spending yet

$2,499,993,043,258.10

The costs of property damage and replacement are negligible compared to the costs for medical claims. That’s where the real liabilities for insurance companies is.

 

[plowhog]

the robber was a windmill mechanic out of work and was robbing the store to get money to pay his car insurance

lol. you forgot that he was enraged because the shop keeper addressed he (or she?) by the wrong pronoun.

 

[Snobdds]

The costs of property damage and replacement are negligible compared to the costs for medical claims. That’s where the real liabilities for insurance companies is.

No...every policy has a medical limit.

 

[two_bit_score]

The costs of property damage and replacement are negligible compared to the costs for medical claims. That’s where the real liabilities for insurance companies is.

He doesn't seem to understand that 'medical claims' is a very broad category. Most insurance companies are broken up into groups that specialize in property/casualty, Life, Health, work comp, etc.

So saying "medical claims' represents the "real" liability for insurance companies is so non-specific that it's a meaningless statement and comes from a real lack of understanding of insurance.

 

[two_bit_score]

No...every policy has a medical limit.

Somewhat but Work Comp has 'lifetime' medical so it's essentially uncapped. Otherwise you are exactly right.

 

[two_bit_score]

lol. you forgot that he was enraged because the shop keeper addressed he (or she?) by the wrong pronoun.

And in California that can get you put in jail.

 

[jyoutz]

No...every policy has a medical limit.

Yes. But it’s a lot more than vehicle replacement and often higher than dwelling replacement. And it gets really expensive when the other party claims medical.

 

[Snobdds]

Yes. But it’s a lot more than vehicle replacement and often higher than dwelling replacement. And it gets really expensive when the other party claims medical.

This is a typical policy

 

[jyoutz]

This is a typical policy

Yep. $100/300K is far more than the cost of repair/replacement of vehicles. And it’s not hard to max out the medical payments for a serious injury.

 

[scootr]

Yep. $100/300K is far more than the cost of repair/replacement of vehicles. And it’s not hard to max out the medical payments for a serious injury.

And far less than serious injury treatment due to an auto accident.

 

[jyoutz]

And far less than serious injury treatment due to an auto accident.

Very true

 

[two_bit_score]

This is a typical policy

It's clear from his response that @jyoutz does not understand how to read a dec sheet.

 

[plowhog]

CA has more than doubled its number of "residency audits." In the unquenchable pursuit of more tax income.

"It’s also taking place in California, another relatively high-tax, high-departure state facing budget strains, where the number of residency audits closed in the first 11 months of 2023 more than doubled from before the pandemic."

"California lags behind New York in the scale and complexity of its residency audit operation, the Golden State collected $85 million in residency audit income last year through November, the largest single-year tally in at least a decade."

This from a New York auditor:

“I’ve had cases that have hinged on a single dog,” Klein said. “And I had a case once that was based on the fact that the person moved their Peloton bicycle to Florida.”

MSN

 

[ultrarunner]

I know several that had a hard time proving they had left California...

The revenuers will go to the far ends of the earth in search of taxes.

 

[plowhog]

The revenuers will go to the far ends of the earth in search of taxes.

This brings a new dimension to the term "blood suckers."

New York’s tax laws are notoriously tricky ... In one situation, an auditor asked a client for death records of their deceased dog and the veterinarian that handled the body, he said.

 

[ultrarunner]

I know an old car guy that left California but was hounded for years because he had open tittles in California on cars he was restoring.

Kind of hard to show up in a new state with a car that is disassembled and get a new a new title for a basket case.

AI will problem up the ante.

 

[scootr]

Didn't you notice that the quoted Fed Chair was appointed by the previous president?

The Fed can only do so much. Besides they have to acknowledge inflation is a problem before they can raise rates to slow it down. Basically they need to do that to the point that people cannot use credit to make daily purchases. Too much of that going on.
Americans are carry record CC debt.

"Total credit card debt in the U.S. has reached a record high — but people are putting less money toward paying it down. Americans collectively hold $1.13 trillion in credit card debt as of the end of December, according to the Federal Reserve Bank of New York's latest Household Debt and Credit Report.Feb 22, 2024"