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Homeowner Insurance Companies
06-19-2017, 10:48 PM (This post was last modified: 06-19-2017 10:49 PM by Mike G.)
Post: #11
RE: Homeowner Insurance Companies
The difference is that the insurance companies enjoyed the wealth up until probably recently, now the wealth for them is rather fleeting, or is as risky as their risk of insuring customers homes.

Back before 2007 or 8 a man or company could have a relatively assured return, a safe return of 4 or 5% from banks, municipal bonds etc. At that time retirement funds, old granny used to use compound interest to get a real return on savings or cash flow from insurers. All that changed with zero interest rates, now you had to play the casino, the stock market, where nothing was assured.

This isn't socialism it is bankism, the banks ripping off the system, capitalism, normality of being paid for your savings loaned to a bank so they could loan it out at a higher interest gone, it is counterfeiting by the central banks that knows no debt because there is none to them.

Be neither a lender nor a borrower be, the old adage, but so far gone in todays world as spats.
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06-20-2017, 07:09 AM
Post: #12
RE: Homeowner Insurance Companies
Whatever way it's accomplished matters not because the system still needs the insured (suckers) to continue to respond to the siren's song of socialism.

Is it considered a conspiracy if they really are after you?Huh
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06-20-2017, 08:11 AM
Post: #13
RE: Homeowner Insurance Companies
I have said to a lot of people that insurance is "socialism" and they think I am crazy.

Just like socialism in all it's forms, everything costs lots more once the system is implemented.

The only way to rein in runaway healthcare costs is for everyone to pay their own bill then the market would determine what the price should be, not some oversight committee or, god forbid, goobermint!

WC
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06-28-2017, 06:47 AM
Post: #14
RE: Homeowner Insurance Companies
(06-18-2017 07:58 AM)John Smith Wrote:  An inspection means they have decided to cancel you and they are coming to get the reason. I currently have been notified that they want to inspect so I am shifting companies and will terminate my current policy before they cancel me. Very small satisfaction, I know.

Yesterday I obtained a binder from a new insurance company. They came out a few days ago, inspected, asked questions and took pictures. The quote they gave me was almost 1/4 of what I had been paying and doubled the liability coverage. So I signed up.

Some interesting questions I had to answer on the application.

Do you have a self-employed occupation other than farming?
Have any applicant had their coverage declined, cancelled or non-renewed during the last three years?
Has any applicant been convicted of a felony or been involved in any incidents or claims relating to sexual abuse or molestation allegations, discrimination, arson, fraud, bribery or negligent hiring?
Any solid fuel heating devices?
List prior insurance carrier, policy number and policy expiration date.

So after 14 years with our current insurer, I am sending them a cancelation request / policy release form by certified mail today. I have to cancel them before they cancel me as that impacts my ability to purchase insurance. This all puts the paying consumer at a disadvantage.

As an aside, I noticed on the cancelation form:
For New York only:
"If you do not keep your auto insurance in force during the entire registration period, your motor vehicle registration will be suspended. If your vehicle is still uninsured after 90 days, your driver's license will be suspended. To avoid these penalties, you must surrender your registration certificate and plates before your insurance expires. By law, we must report the termination of auto insurance coverage to the Department of Motor Vehicles. "
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06-28-2017, 08:53 AM
Post: #15
RE: Homeowner Insurance Companies
I forgot to mention that the company I am cancelling terminated the homeowner's insurance of one my elderly neighbors. The reason they gave is that they drove by the home and thought the handrail on their steps looked in disrepair. They never gave them a chance to rectify any problems and instantly terminated their policy. From then on I knew I would have trouble with them even though they were extracting a significant annual payment from me.
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06-28-2017, 09:16 PM
Post: #16
RE: Homeowner Insurance Companies
Don't you just love how they eventually get "control" over your life?

Almost as good as goobermint does!


WC
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06-29-2017, 06:10 AM
Post: #17
RE: Homeowner Insurance Companies
(06-28-2017 09:16 PM)woodcanoe Wrote:  Don't you just love how they eventually get "control" over your life?

Almost as good as goobermint does!


WC

Exactly, but the insurance companies did it with the help of government. In a truely free market we would be treated better. Every time government gets involved they make things worse for us and better for them. Everyone should shop and change insurance annually to at least force some competition. I was lazy and didn't shop until forced to and it cost me a lot of money.
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07-10-2017, 05:29 AM
Post: #18
RE: Homeowner Insurance Companies
John who did you get the new coverage from?
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