Homeowners Insurance

[rocky2]

One positive thing about lawyers and then I'm outta here to go move some dirt. They do provide plenty of fodder for jokes, only second to blondes. I better watch out, I'll have blondes from NOW wanting to sue me ! (got 'em both on that one, eh?)

 

[brewerbob]

Well, I guess it's my turn to tell my USAA story. We lived in a Seattle suburb and had ALL of our property insurance with USAA. We had only one claim, that on our auto policy which was because I parked under an elevated street and a rock came off a car or truck and dropped through our glass sunroof. I had connections in the auto parts industry and was able to get a new sunroof at a very reduced price and no labor as I installed it myself. Several years later, I was able to retire early and we bought land and began to build our new home. We insured the new construction with USAA. They were aware that the new home was in a rural area with no close fire protection. Everything went swimmingly until our new house was ready and we wanted to convert from the construction insurance to regular homeowners. They hemmed and hawed and finally decilined the policy because of the location and availability of fire protection. Cancelled everything we had with them and went with Country Companies.
Bob
.

 

[MDNY]

Well I guess we are lucky that we moved to State Farm last August for our Auto (2), Renters, Peronsal Articles and Personal Liability Umbrella (don't want someone trespassing to sue me for what I got). In May we added our homeowners policy.

With all of these fine policies we have a local rep (and after hours services from SF). I know if we have an issue he can act unless SF puts the screws to you. He has advised us and made sure all our policies cover us properly, instead of us guessing what we had (with Geico).

So now that I have a new home (under construction) I have to worry even more about personal suits, claims and Mold. My apartment has black mold in the window casings, air conditioner. Both my wife and our cat (daughter) have allergies from it. But in the house we spent good money on HVAC and will add purification to the furnace later if necessary.

I had always heard if you put in claims too close together like roof damage and wind damage you can get canceled. I guess insurance is meant for us to pay and never get repaid on a claim. Just wish I could run a business that way.

 

[gusg]

We got our renewal from Allstate 2 weeks ago. The homeowners went from $545 to $1275, a 152% increase!!!!! The agent said that everyone's rates are going up by that much. He said the insurance companies are losing too much money. I told him that after 25 years it was time to change. I have never had a claim. We got a quote from Farm Bureau Insurance and it was for $620. My auto also went down about $500/yr.

I guess the warning is if you have Allstate, beware of your renewal. How do they expect us to absorb increases like 152%? They are crazy.

 

[Bird]

152%? Wow! My brother had Allstate most of his life, but his went up almost 100% this year, so he, too, changed companies.

 

[Anonymous Poster]

Try this on for size, AETNA, Wish I never Metya.
Back a few years, I had everything covered by Aetna, thru an independant agent, who was making a good buck off my business.
On the way home one night, I had the good luck to meet a drunk driver, head on, 1/2 mile from the bar he just left, with a BAC of 034 by blood test. On the good luck side, the drunk too was insured by Aetna.
After 4 days, their adjuster showed up and made a loball offer on the truck with a bent frame and right side ripped off, but did offer to allow me to keep the truck since it was custom and had no salvage value. Aetna refused to pay for lost income cause I'm self employed.
At renewal time, Aetna sent me a letter cancelling my auto insurance, not really a big problem for me cause I found an Allstate agent who wrote the coverage for less.
3 years later, we finally get to court. By then, Aetna has used a doctor they own because of paying off some malpractice claims to shut off my medical treatment. The Court didn't seem to mind Aetna's doc was a ghynecologist and had determined there was nothing wrong with my back, even though he had never looked at the Xrays. When Aetna's brilliant lawyer found out I'd been in a second accident 2 years after the drunk hit me, he and the Judge got together and the judge dismissed the case. I talked to a few of the jurors in the hall, and they all wanted to give me money.
2 years later, Aetna got a judgement against me because I had sued them. Permanent lesions will form between Aetna's hand and glutius maximus before I pay them a dime.
The reality is insurance companys rule the world. They own doctors and lawyers as well as judges, and lawmakers buy the truckload. In NY it's a crime for a person to defraud an insurance company, and the State employs legions to chase insurance crooks. It is NOT illegal for an insurance company to defraud a policy holder.
Every time you buy anything, a large percentage of the cost is insurance, for the manufacturer, the wholesaler, the trucker, and the seller. It's just a matter of time till the Insurance carriers have all the money.

 

[MDNY]

Franz,

Not to mention in our lovely state of NY they have the most lobyists (and at the capital in DC too). We have some of the highest rates in the country, the laws are out dated and the insurance companies are fleeing us left and right.

But of course of Gov. looks great and everyone loves him for what he did post 9/11. What exactly did he do. Not much, but he was Gov. at the time.

 

[gusg]

That definetely sounds worse than my insurance problem. Your right at this rate we won't be able to finance anything because the insurance payments will equal the loan payments!

 

[JohnMiller3]

About three weeks ago, I was going to lease a 2002 Honda Civic @ $119 month for my oldest daughter. The cost was dirt cheap to get into and would give my girl responsibility/experience with credit/new car/etc. I called the insurance agent for a perspective insurance rate… and almost fell out of my chair… because of her “youthful” driver status, it would have cost $3800. prepaid for a 1 year policy or about 30% more if paid on a monthly basis… /w3tcompact/icons/blush.gif

Well simple arithmetic says her auto insurance would average out $316 monthly over and above the $119 auto/lease payment… /w3tcompact/icons/eyes.gif The insurance agent realized I was stunned and then told me this story:

Another Father co-signed a new auto lease for his son 1 ½ years ago, and purchased insurance for a slightly higher premium…, within the year… the son received three speeding tickets, upon the “annual” renewal anniversary, the kid’s insurance premium went up to over $8000 /year. The Father was outraged and called other insurance carriers and quoted similar “high” premiums. Then the Father called the leasing company and explained the problem and “requested” to cancel the lease on the automobile… To make a long story short… you can imagine how far he got there… The bottom line… the kid’s car is “off the road”, parked in the Father’s driveway… and each month the kid writes out the lease check…

 

[wroughtn_harv]

It's only going to get worse.

Insurance companys are one of the largest investors in our markets. They've lost fortunes. They'll be coming back to us to replenish their coffers.

As will the utility companys through their protected avenues of regulated entities.

History will probably have some very interesting things to say about this time.

The common man is going to pay dearly for being asleep at the wheel while business was done.

And tonight I will sit in front of the telley while the President is speaking with the same disdain, disgust, and disappointment as the critics of the last administration would if Bill was making a speech on the benefits of monogamy.