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| Grumpy Old Pharts Board Gerritol, Ex-Lax, Immodium, Bad Breath - all requirements for the Grumpy Board |
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01-03-2007, 07:41 AM
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#1
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Afterhours Custom Plugs
Join Date: Mar 2004
Location: R.I.
Posts: 8,644
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ex lives on water and they also tripled her premiums...seems to me that insurance co's run a risk free profit gloming business- no claims they make out, claims- they raise premiums to make up for payouts......
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01-03-2007, 11:07 AM
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#2
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Registered User
Join Date: Jul 2004
Posts: 10,306
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Quote:
Originally Posted by afterhours
ex lives on water and they also tripled her premiums...seems to me that insurance co's run a risk free profit gloming business- no claims they make out, claims- they raise premiums to make up for payouts......
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That's why Warren Buffett owns so many ins/reinsurance companies. Watch the stock prices of the Prop. and Casualty ins. com. after a huge storm. The all go up. |
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01-03-2007, 11:37 AM
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#3
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Plug Builder in Training
Join Date: Apr 2000
Location: wareham MA
Posts: 4,047
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Just wait as your policy renews. Some of my friends have been hit with a separate wind damage policy. $5,000 deductible. They got you at both ends
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01-09-2007, 03:49 PM
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#4
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Registered User
Join Date: Oct 2000
Location: in a structure with a roof
Posts: 6,049
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Quote:
Originally Posted by mikecc
Just wait as your policy renews. Some of my friends have been hit with a separate wind damage policy. $5,000 deductible. They got you at both ends
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gilly do not , do not fart on your property or in your house . they will get you for wind ins and smell ins . maybe even for noise ins . might be too loud and smelly for your neighbor with the water front ( puddle ) property . |
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01-09-2007, 09:15 PM
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#5
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Hardcore Equipment Tester
Join Date: Mar 2001
Location: Abington, MA
Posts: 6,234
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Gilly you should report them to the state Insurance Commisioner, they are probably doing it to others...
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Bent Rods and Screaming Reels!
Spot NAZI
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01-04-2007, 02:07 PM
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#6
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Registered User
Join Date: Dec 2006
Posts: 14
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Quote:
Originally Posted by afterhours
ex lives on water and they also tripled her premiums...seems to me that insurance co's run a risk free profit gloming business- no claims they make out, claims- they raise premiums to make up for payouts......
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I've always said that your base insurance premium is for nothing in return, because if you file a claim, there is a new higher rate as they punish you for taking advantage of the service you paid for. |
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01-04-2007, 02:46 PM
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#7
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Registered User
Join Date: Sep 2001
Posts: 7,649
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Last year I got a notice saying they dropped me. Not an increase in rates, just goodbye! I never made a claim on any insurance policy of any kind in over 30 years. I just pay my preimums. I called them and they said they were dropping everyone that lives within 2 miles of the coast. I told them I am 64 ft' above sea level, even if the polar ice cap melts, I still will be dry. They didn't care.
My insurance agent said she is getting 60 of these per month.
She had a hard time finding someone but in the last days she did. The rate went up a lot (like double) and there was a insane (20K) wind damage deductable that covers their butt.
This is where IMO isurance companies get away with too much. The theory of insurance is based on numbers, the more you cover the lower your risk. Now they are allowed to cull out what they deem higher risk to boost their profits. This is where the gov't should step in. IF THEY WANT ALL THESE FAT TAX BREAKS AND OTHER INVESTMENT INCENTIVES, THEY NEED BE RESTRICED FROM CULLING OUT SEGMENTS OF THE MARKET. It happens in medical insurance as well. Companies will do all they can to exclude you from covering whatever they can if they think you have a higher risk to get cancer even if your phycsial if fine.
Their lobby is huge. They think insurance is the foundation of this country...I swear. I have been to DC and listend to these goons.
What other business do you know that gets to say... I took your money for 30 years and you never made a claim, but I am going to drop you now because I think you are a high risk. Look, you can't change your mind if I make the payments !!!!
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01-04-2007, 05:39 PM
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#8
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Registered User
Join Date: Feb 2003
Location: Here and There Seasonally
Posts: 5,985
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You're right, Mr.Sandman. If a bookie did that he'd lose his kneecaps and never place another bet. Why is it insurance was more legit as gambling than as an investment business?
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He that would make his own liberty secure, must guard even his enemy from oppression; for if he violates this duty, he establishes a precedent that will reach to himself.
Thomas Paine
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01-04-2007, 06:53 PM
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#9
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Registered User
Join Date: Apr 2004
Location: SC
Posts: 149
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BC,
were you insured with the good hands people? They just dropped almost everyone in SC that lives anywhere near the water. Now if someone would get the "good hands" off the knife they are sticking in their customers.......
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01-04-2007, 06:59 PM
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#10
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Afterhours Custom Plugs
Join Date: Mar 2004
Location: R.I.
Posts: 8,644
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i hate ins. co's - BIG 'effin ripoffs! they can sure take it in, but don't want to give it out.
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01-04-2007, 10:19 PM
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#11
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North Shore Lurker
Join Date: May 2004
Posts: 271
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My insurance got canceled for no apparent reason four years ago.
Restored since.
Got a hand written note from the ins. agent. saying the policy was canceled because ?????????????
Wouldn't have been that bad outside of the fact that my father graduated from the same H.S. WITH the person that wrote the note.
They were friends.
I called. The old man called. Neither one of us could get a straight answer.
And neither one of us could read the writing on the note.
Still don't know to this day why.
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