Speaking of insurance.....

[Lt CHEG]

As an aside I'd add this about mandatory car insurance. I am somewhere between libertarian and conservaive in my beliefs. I'm not a fan of bog government and I like to keep the government out of our lives as much as possible. By the same token I also realize that people aren't perfect and a certain amount of law and order is necessary and I also think it is sometime important to involve ourselves in affairs beyond our borders when we have interests now or in the future to protect. So with respect to insurance my position is somewhat in conflict with my otherwise fairly libertarian leanings. I would have no problem with the elimination of mandatory car insruance as long as some type of debtor's prison was introduced as a way to ensure that people took responsibility for their own actions. Now this might seem kind of extreme, and really my sentiment is largely tongue in cheek but the reality is that without knowing that everyone is insured there is no way to be sure that you won't get left holding the bag when someone wrecks something of yours through no fault of your own. If insurance wasn't mandatory someone without insurance could very well end up being at fault for an accident but with no way to pay the damages. With nothing to collect from that person, it leaves an innocent victim holding the bag. If someone knew that they if they tried to get out of their responsibilities that they would end up behind bars, I think we'd have a far more polite society.

 

[Dill]

Excellent post from PA.
I've only been an agent for 7 years, but I work with a family who have been running the largest farm agency in the state for 25. We have an excellent reputation and work our tails off to stay that way. I can't begin to tell you how many checks every paid out of our own account because someone lost a ring or had fender bender that wasn't covered.
The other thing is not only do we have to be licensed to work in each state but we have to take continuing education. I have a cousin who writes very large mortgages with zero regulation or education.
Yes insurance is confusing, but it really comes back to trust. Find an agent who will work with you and understand what your doing. And be upfront with what your doing. Yes it might not be cheap. But I know that I try and keep the cost down as much as possible. Yes we get paid commission but its better for me to make less up front and have a satisfied customer for years.

As for the lack of mandatory insurance. Its just part of what you get living in the "Live Free or Die" State.

 

[mjarrels]

Saw a story on 60 minutes a few years ago and they intervied a SF agent. He said he would be run out of town if the folks knew how much money he made.

mark

 

[Storm56]

Saw a story on 60 minutes a few years ago and they intervied a SF agent. He said he would be run out of town if the folks knew how much money he made.

mark

He is obviously a successful businesman. I guarantee you he did not gain such success by selling a few policies. He worked his butt off, as did I. People do look at what I have accomplished and perhaps there is an awe factor. Where were their eyes when I was working 70 hours a week? It took me years to build up the business I have.

In this country everyone has the opportunity to do well. The path anyone chooses is up to them. But darn it don't hate others because they made choices and worked hard to gain success.

 

[PA hayseed]

In this country everyone has the opportunity to do well. The path anyone chooses is up to them. But darn it don't hate others because they made choices and worked hard to gain success.

I do not hate insurance agents, they are just making a living. I hate the fact that the government dictates that I must give my money to one of the insurance companies. If I don't want to, then I am not allowed to drive. Get pulled over and the first words out of the officer's mouth are likely license, registration, and insurance. I have been pulled over many times, I must look suspicious or something. Why does PA mandate insurance and some others don't - lobbyists (to be read political contributions).

Of course you can say I am a conspiracy theorist, but then again, I submit to you that when PA went to allow motorcyclists to ride without helmets, who fought that bill? Insurance companies. Every year insurance companies in PA lobby the government to allow more deer to be killed by hunters - why? To stop making payments on vehicles that hit deer.

The insurance company determines what I have to pay, not me. Sure, I can shop around, but all of them ask where you live, what you do, how many miles you drive, etc, etc. Once they are aware that you live in PA, then they go by the laws of the state in determining insurance coverage. How do I know? Because I got tired of the state, and eventually found an insurance agent in another state. They don't even have an office in my state. Been in several accidents, deer, hit by another motorist, hit a patch of ice, and they have been there everytime.

Having been through everymajor insurance carrier, state farm, progressive, geico, etc, Allstate, they are all the same.

For proof of insurance company recklessness, I submit to you the name AIG.

I am not against the agents, I am against the regulation that says I have to buy this product. It is a product like any other, and I should be able to choose if I want it or not.

I hope you do well in your business. I hope that your hard work is amply rewarded.

 

[PA hayseed]

Part of your problems that I read about here is your expecting companies that only deal with home and auto coverage to know about dealing with tractor and farm coverage. Go talk to a farm agent. Its what we do. You don't buy bananas at a hardware store do ya?

I hear you, I had my homeowners people research for someone who handled house moves, they had no idea - too niche I guess. I even called around to some bigger and smaller outfits just looking for gap insurance to cover the the move - no luck (my mover had his own insurance, which covered just about everything, but I figured why take a chance having no place to live and waiting for someone to write a check). My homeowners insurance people gave me a rundown on what they would and wouldn't cover during the move. mainly nothing until it was on a foundation and inspected again. I put fencing up and kept people out, they were as curious as monkeys. Insurance company was really clear on people not being on my property.

If the hardware store had bannanas I would buy them there, so long as they were in good condition and not overpriced. I am at the hardware store a lot and I tend to be hungry when I am there. They put a sandwich place outfront. It does a lot of business.

 

[Farmerford]

Finally, several defenders of insurance agents and at least one defender of politicians (does self defense count?); will no one defend lawyers?

 

[johnrex62]

Finally, several defenders of insurance agents and at least one defender of politicians (does self defense count?); will no one defend lawyers?

:anyone:





:laughing:

 

[blueriver]

Wow ... lots of stuff in here. I have the home owners, the trucks, the liability, the tractors each have there own as well as select equipment that could burn (balers)

I do not like mandatory anything, I do however really really like a good agent ... that is just like a good tractor dealer, lawyer, Dentist, Real Estate Agent and Auctioneer!!

If you have to have the insurance best have it with an agent who knows his Business.

 

[Storm56]

1 Every year insurance companies in PA lobby the government to allow more deer to be killed by hunters - why? To stop making payments on vehicles that hit deer.

2 The insurance company determines what I have to pay, not me/

3 For proof of insurance company recklessness, I submit to you the name AIG.

4 I hope you do well in your business. I hope that your hard work is amply rewarded.

1 This is a popular myth.

2 Actually the state insurance commission is the one that approves or disaproves rates based on the company loss/reserve history. Briefly on reserves, all companies must maintain a minimum reserve cash to pay claims based on the dollar value of policies in force. If that amount gets too low the state shuts the company down and ends up disolving the company unless they get a cash infusion from someone, usually another insurer.

3 So every insurance company gets a black eye because of AIG? Actually AIG's troubles came mainly from insuring mortgages.

4 Thank you