Homeowners insurance claims until 5 years ago were once every 27 years. Now it's down to once every 7 years. You fail!
Is that ever divulged? I never saw that in any of the docs I went through...
Hey State Farm - Suck my exit chute
- Thread starter stoney
- Start date
Is that ever divulged? I never saw that in any of the docs I went through...
The average life span of a roof here in the Springs is 7 years. (We have regular heavy hail storms in the summer). Are you telling me that if I file another roofing claim in the next seven years Allstate is going to cancel my policy?
I imagine that the gov't will step in some time or another and "fix" the property insurance scam, I mean business, in the near future.
I had state farm for 13 years. Multiple cars and home. In that 13 years I had 1 home claim @ about 2K for electrical damage to my home office and a break-in on my car. Both those claims totaled less than 4K. I paid them a minimum average of $1650/year to cover those things @ 13 years and that's $21,450 in premiums they have received from me. The break in claim was 3 months before I sold my car and went without a car for about a year (company car) So I canceled the policy.
Fast forward a year later I go to start the policy on a new car and they said due to my "shady" business with filing a claim and canceling my policy 90 days later they wouldn't insure me.
Oh really? The guy actually said I should have kept paying a premium on a car I no longer owned if I wanted to stay in good graces with them. WHAT!?! Are you ****ing kidding me, you expect me to pay money for you, for something I can NEVER, EVER claim, just so were still pals? So I called around, got a gang of quotes and insured my home and 2 car the same day with a different company which got me better coverage for less. **** you State Farm.
I'm pretty sure I posted this story before but what a ****ing scam insurance is.
Fast forward a year later I go to start the policy on a new car and they said due to my "shady" business with filing a claim and canceling my policy 90 days later they wouldn't insure me.
Oh really? The guy actually said I should have kept paying a premium on a car I no longer owned if I wanted to stay in good graces with them. WHAT!?! Are you ****ing kidding me, you expect me to pay money for you, for something I can NEVER, EVER claim, just so were still pals? So I called around, got a gang of quotes and insured my home and 2 car the same day with a different company which got me better coverage for less. **** you State Farm.
I'm pretty sure I posted this story before but what a ****ing scam insurance is.
@ 1:30
I don't know why you just wrote that but I was just looking for the miracle solution you have come up with regarding only working until 50 if you also want children?
High saving rate and good investing. Plus that gives me 20 years to accrue.
$55k/year savings increasing savings rate by 2.5% YoY, assuming 5% annual return = $2.34mm in 20 years.
$5k/year increasing savings rate by 2.5% YoY, assuming 5% annual return = $215k in 20 years for College.
$15k/year increasing savings rate by 2.5% YoY, assuming 5% annual return = $121k in 5 years for house purchase.
All under the assumption that our household income rises just 2.5% YoY, which is conservative. This is conservative, as I would change the balances to more housing/retirement savings on the front end, and roll college savings 2-3 years out.
For context, we live on my income alone. Wifey's goes 100% to savings.
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That "life span" must be for a cheap roof. Generally an insurer will not write you until you are 3 years from a claim. People fail to realize that insurance was structured around a TOTAL LOSS scenario. The goal is to pool enough money to have funds to put you back where you were if you lose it all.
The average life span of a roof here in the Springs is 7 years. (We have regular heavy hail storms in the summer). Are you telling me that if I file another roofing claim in the next seven years Allstate is going to cancel my policy?
All this ancillary stuff about roof damage (did you know you willingly built your house under a sky that shoots hail stones at you?), had to be added along the way as state governments got involved and competition for your dollar increased.
There is no imagine. They are firmly entrenched and dictate and CAP ALL RATES. The "gubment" you refer to is the state. Insurance is regulated by the states, not the federal...and be glad. Anybody in Kansas wanna split the cost of Hurricane Katrina with the bayou??? No???
You are way off. There is a simple rule with auto insurance of continuous coverage. It makes you eligible to get your carrier's better rates. When you have a break in coverage, like selling all your cars and starting over....you have a "gap" in insurance. It is one of the risk factors of auto insurance. The numbers show people with breaks or gaps in coverage tend to be higher risk.
I'm sure you're the one absolute exception to that rule though since we here at RM know how stable and trustworthy you are.....
NOTE:
I am in no way defending any insurer or speaking for them. Just trying to give people some information on the "mystical" world of claims.
Now, who's gonna start the timer on how long it takes Kenan to get booted by his hot broker?
I am in no way defending any insurer or speaking for them. Just trying to give people some information on the "mystical" world of claims.
Now, who's gonna start the timer on how long it takes Kenan to get booted by his hot broker?
The "fix" I was thinking of was more along the lines of stopping insurance companies from booting customers when the customer is using their insurance policy for its intended purpose. Seems to me that, in general, insurance companies are more than happy to take your premium payments but fight tooth and nail when it comes time for them to fulfill their end of the arrangement.
It begins.I'm sure you're the one absolute exception to that rule though since we here at RM know how stable and trustworthy you are.....
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now when you say one claim every 27 years are you talking any claim, be it $1000 or major/total property loss ?Homeowners insurance claims until 5 years ago were once every 27 years. Now it's down to once every 7 years. You fail!
that seams awfully high.
wait are you calling me unstable? I'll ****ing eat your heart.I'm sure you're the one absolute exception to that rule though since we here at RM know how stable and trustworthy you are.....
But seriously I had no problem paying more for a new policy, but to simply call my behavior shady then deny me the ability to start a new policy is ridiculous, especially having been a customer for 13 of the past years without any gaps and insuring as few as 2 cars and as many as 5 at time all with full coverage. If they were afraid of me as a potential risk because of 4K in claims in 13 years leveraged against the 20K or whatever I paid seems crazy. It's ironic the people that kept 17K of my money incase anything happened were the ones calling me untrustworthy, when my credit and financial history and lack of any police record says otherwise. But I found a new company that was happy to offer me better rates and more coverage and as far as I'm concerned the story has a happy ending.
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To be clear - once you paid the premium it was THEIR money.
good point.To be clear - once you paid the premium it was THEIR money.
The problem is that insurance companies don't write sensible policies and charge the necessary amount. They'd rather throw out a low monthly premium number, and if you actually *use* the insurance they drop you and move on to someone else.
If insurance companies really wanted to cut down on frivolous claims, they'd raise the deductible to a level that discourages claims. Then if someone wants a lower deductible, they have to pay a much higher premium for it. If you have a $2,000 deductible you're not going to be putting in a claim for a $2,500 bike.
But no, they'd much rather throw out a $250 deductible (no deductible?) number and low monthly payment, and then pick and choose only the customers who don't make claims...
Same can be said for health insurance. Everybody wants a plan with $5 deductibles and $5 copays. Got a sniffle? Go to the doctor.
Its a shame Walmart doesn't sell insuance. Phones and Service. Banking, Eyecare, Drycleaning, and McDonalds, but no insurance.
There are sooooo many factors to address, but I'll touch on a few.
1. Disposable income. After the Great Depression and before the gimee now days, responsible adults realized they needed to help themselves. They spent frugally, never bought a house without putting 20% down, did most of their own repairs to their homes, and had a BIG emergency fund to deal with. Savings, cash..you name it.
At that point in time, insurance was meant for a TOTAL LOSS. The company (and many times individuals as a group) pooled money to do so. If you're house had anything other than MAJOR damage, you fixed it.
Insurance was a CATASTROPHE plan. Running your bike into your house, replacing shingles that are exposed to nature (wind, hail, sleet, ice dams), tree falling on it b/c you weren't smart enough to build away from/cut it....were common sense responsibilities.
2. Competition - Blame whoever you want. To get a piece of the pie, insurers came up with extra services, riders on policies, etc. State governments forced certain requirements and so on.
3. Pool of risk - When you pay premiums, you are buying into a pool of risk. ALL THE PEOPLE in that pool have similar risk factors as you. They are NOT going to pay to fix your roof, so they refuse to pay the higher premium YOU force on them with claims or other risk factors. You are taking money from a group of people who can either only pay or or only willing to pay a certain amount.
To keep those 50, 100, 5000 other customers.....you've got to go! You get put in a pool of people similar to you. If your insurance company has that pool, you go to it. If not, you have to find a company with that same risk group.
When you realize, it's not just you paying for your 1, 2 or even 10 claims and all the other people pooling their money have a say...it makes more sense.
Any of you guys wanna pay for another roof for blackohio, just make sure you sign up with his agent...and you will.
Edit: I am not picking on blackohio spitefully. I'm using his instance to play out the scenario. Insert any type of claim you want...his is just readily available. Not saying he's a bad guy.
1. Disposable income. After the Great Depression and before the gimee now days, responsible adults realized they needed to help themselves. They spent frugally, never bought a house without putting 20% down, did most of their own repairs to their homes, and had a BIG emergency fund to deal with. Savings, cash..you name it.
At that point in time, insurance was meant for a TOTAL LOSS. The company (and many times individuals as a group) pooled money to do so. If you're house had anything other than MAJOR damage, you fixed it.
Insurance was a CATASTROPHE plan. Running your bike into your house, replacing shingles that are exposed to nature (wind, hail, sleet, ice dams), tree falling on it b/c you weren't smart enough to build away from/cut it....were common sense responsibilities.
2. Competition - Blame whoever you want. To get a piece of the pie, insurers came up with extra services, riders on policies, etc. State governments forced certain requirements and so on.
3. Pool of risk - When you pay premiums, you are buying into a pool of risk. ALL THE PEOPLE in that pool have similar risk factors as you. They are NOT going to pay to fix your roof, so they refuse to pay the higher premium YOU force on them with claims or other risk factors. You are taking money from a group of people who can either only pay or or only willing to pay a certain amount.
To keep those 50, 100, 5000 other customers.....you've got to go! You get put in a pool of people similar to you. If your insurance company has that pool, you go to it. If not, you have to find a company with that same risk group.
When you realize, it's not just you paying for your 1, 2 or even 10 claims and all the other people pooling their money have a say...it makes more sense.
Any of you guys wanna pay for another roof for blackohio, just make sure you sign up with his agent...and you will.
Edit: I am not picking on blackohio spitefully. I'm using his instance to play out the scenario. Insert any type of claim you want...his is just readily available. Not saying he's a bad guy.
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They sold roadside assistance once. The company I supervised (U.S. Auto Club/Ford) for extended them a contract. It was a card at the check out counter you could buy into. We had to break the contract to cut our losses within a year.
I'm not surprised!They sold roadside assistance once. The company I supervised (U.S. Auto Club/Ford) for extended them a contract. It was a card at the check out counter you could buy into. We had to break the contract to cut our losses within a year.
So the lesson is pay your premium and never make a claim.
Okay then, so why does my insurance agent even cover stuff like the roof then? Everyone with a 5 mile radius of me got a new roof this summer because of the July 4th hail storm. In my case I called the insurance company to come out and look at it to tell me if it was bad. The adjuster spent 20-30 minutes on my roof, came down and told me it was trashed, along with my gutters and window screens. I didn't call them and say it was bad, I asked them to come out and take a look, and the adjuster said it was bad. He cut me a check before he even left. My Allstate policy specifically says under "Kinds of losses covered"
(it also covers "riot or civil commotion"!
) So am I to expect that when I use the policy that they wrote I'm going to get canceled for using the service that I pay for? That pretty much constitutes a scam IMHO.
My business insurance includes a $1.35 annual "terrorism fee".My Allstate policy specifically says under "Kinds of losses covered" (it also covers "riot or civil commotion"!
Does that cover fecal attacks?My business insurance includes a $1.35 annual "terrorism fee".
Wait a second, you give me constant **** for being dumb, and you drove your bike into your garage. BBAHAHAHAHAHAHAHAHAHAHAHAHAH. That's the most amateur retard move EVER, I know you had insurance, but you didn't DESERVE to have that thing replaced
They're options/endorsements added to gain a competitive advantage at some time. Remember the old adage..."Want to make money....sell people something they didn't know they need." If you're smart, they'll soon forget how they ever did without it.Okay then, so why does my insurance agent even cover stuff like the roof then? Everyone with a 5 mile radius of me got a new roof this summer because of the July 4th hail storm. In my case I called the insurance company to come out and look at it to tell me if it was bad. The adjuster spent 20-30 minutes on my roof, came down and told me it was trashed, along with my gutters and window screens. I didn't call them and say it was bad, I asked them to come out and take a look, and the adjuster said it was bad. He cut me a check before he even left. My Allstate policy specifically says under "Kinds of losses covered" (it also covers "riot or civil commotion"!
One occurance due to a sleep deprived lack of attention is FAR different than the recurring demonstrations of stupidity you have demonstrated.
Also, if we take a poll of people with roof racks on their car, I would not be surprised to see that a sizable number have done it as well.
I don't know about that............. I've got 5 years at a bike shop, and now I'm at a huge outdoor retailer that does loads of racks as well. I recall seeing one come into the shop that had hit a garage door like once a year or so. Only seen 1 car top box go into a garage there.
I do dumb **** cause it makes life more fun, you on the other hand destroyed your look.......
I haven't *knocks on wood*
I saw it probably 1x per month when I was working at the shop in Oakland, and almost weekly by tri guys when I was at the tri shop in SF. Most often from roadies and XC guys who had just done huge rides or races and were not thinking straight.
Don't try to make excuses that sh!t is pretty dumb
What shop in Oakland? I can pretty much guarantee I know people there and would be more than happy to go ask how often it happens.......
Well from working at a shop you should know that tri guys are about as big of douchey retard as it gets, so if you want to compare yourself to then be my guest. But those guys are strait tards..........
Edit, I never put my bike into anything when I had a roof rack.......
Did you have a garage?
I used to have a roof rack on my jeep. I think with a DH bike on it, it was something like 11 feet tall. I never forgot it was there, but a couple times on a certain road off of 17 I would find branches in my bars.
Anyone riding in my jeep with me when there were trees around had to get used to random swerves for low hanging branches
Nope. Smart enough to buy a hitch rack when that even started to potentially become an issue
Still twice as smart as the joker..........
Wife drove my bike into the carport once. I was in the car and didnt think of it either. If you have a roof rack and a garage/car port, its almost bound to happen eventually IMO.
They do make a little magnetic thing attaches to the hood that pops up when you stop. It's really simple to use and cheap, allot cheaper than a bike...........
Shop boy joker should have known........
1. H&F from '99-'04 - MV is the only person who was there during that window
2. Tards, sure. I remember seeing a survey by one of the industry rags (can't remember the name) that surveyed the average income, education level, and employment of rider types broken out tri, road, mtb, bmx, and commuter.
-Tri was notably the highest in every category with PhD's and Masters making up >50%, careers mostly in medical, engineering, and finance; income >$200k
-Road was next with mostly BA and Master's, more sales and tech jobs; income >$150
-MTB was notably BA and a few masters, more low-end white collar and notable blue collar levels; income between 50 and 150
- BMX mostly HS and BA, a lot of blue collar; income <$50
I'd have to try and find the article again, but it was notable enough that we changed the structure of our store around it and saw higher margins and sales.
Again, occasional instances are not an indicator vs. constant demonstration of stupidity.Nope. Smart enough to buy a hitch rack when that even started to potentially become an issue
Still twice as smart as the joker..........
And I bought a hitch rack too, it just wouldn't work on the jetta.