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Originally Posted by PaulS
So using that logic, if you take a policy out and have a claim the first few years, the insurance comp. shouldn't have to pay your claim.
Your not stuck with them, if you think they are ripping you off, don't use any elective insurance.
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No, they are not just insuring the newbie it is a gazillion people some new some like me that have put in for years without claim! You see insurance companies have been culling out higher risk people for years this is a step in that direction. I don't think I am at higher rish then those in FLA though? Moreover this culling shows what dirtbags they really are. I use to run a small company and negoationed and paid the health preimums. Most companies are sleezy and will try to get exclusions for some people with conditions that are not even "pre-exisiting" just higher risk ( something running in the family). I saw this first hand and later watched a good friend who later died of breast cancer and my best friend foot the bill personally because the insurance company balked at anything to do with her. It was a nightmare and almost wiped him out. I have also seen in from the other side (wife is a doctor) and watched over the collections. Let me tell you they are they don't pay out jacksh*t to docs and hospitals...I have seen collections in some cases to .20 on the 1.00. These dirtbags take their cut first. Their profits were insane in the 90's and they didn't bank it for the rainy day they lost it...I hope they take it in the rear, they suck.
Also you ARE stuck with them! You mortgage requires it! You can't go alone.
MikeP: I asked the same question to my agent....Most waterfront and large homes on the vineyard were paid in cash and don't have insurance. (they self insure...most multi millionairs do but may have some liability coverage)