Anytime someone starts thinking that the government has the people's best interests in mind, they should make a trip to Canada and see how well that's all been working out for the natives.
Anytime someone starts thinking that the government has the people's best interests in mind, they should make a trip to Canada and see how well that's all been working out for the natives.
In reply to STM317 :
Haven't seen anybody say or suggest that the insurance company shouldn't be allowed to review the property.
The issue seems to revolve around accuracy of that review. Using nothing but a satellite image of a property is just a quick and dirty approach. You're not going to get an accurate representation of the condition of the property or any subsequent risk by doing that.
I am still somewhat amused by this. With wildfires and floods costing insurers millions upon millions the company I am insured with wants me to clean up my property because someone possibly trespassing might hurt themselves.
I still admit that I do need to clean up a few things. And it is ironic that the on the ground view is worse than the overhead view. But clean up I will. Anyone want a freestanding basketball hoop than is not in any of the pictures? You have to come get it. Also a pond liner. And I need to tear down my kids fort that is not in any of the pictures.
In reply to ShawnG :
They don't have to go to Canada to see that. Just stop by any VA.
I don't have any problem whatsoever with the insurance company asking me to fix up a couple things to limit their liability. In fact, I appreciate the nudge to give me a little incentive.
Fine. Send me a notice, give me 30 days to make corrections, ask me to send some pics when I'm finished. Done. No problem.
That's NOT what happened.
What happened was I got a notice that underwriting had decided to cancel me because I was "behind on preventative maintenance", and that the POLICY HAD ALREADY BEEN CANCELED. No discussion. No opportunity for corrections. No possibility of reinstating the policy. It was suddenly a crisis that I was living in a house with NO INSURANCE. If it burned down during the lapse in coverage, too berkeleying bad. I would have been totally berkeleyed.
Suddenly it was an emergency for me to find another provider, sign the paperwork, pay a binder, etc, etc.
I had done business with them for over 30 years without a claim.
And to be clear, the issues cited were corrected in a single weekend with a hedge trimmer and a few nails.
Then they did the EXACT SAME THING with my auto insurance a couple weeks later, canceling me without telling me for issues I had NOT committed.
I am usually quick to defend companies when people bitch, but I am absolutely NOT gonna give them an inch on this. What they did was completely irresponsible and unacceptable.
That's a completely E36 M3ty way to do business. State Farm can go berkeley themselves if they think I will ever do business with them again. And I will do everything I can to discourage anyone else I know from doing business with them.
Unfortunately, my rant is worthless because State Farm actually doesn't want my business.
volvoclearinghouse said:
It's probably a good thing my backyard isn't bigger. It's a good thing most of the stuff is under trees. Google Earth can't see most of it.
GameboyRMH said:I've only heard of this happening due to high risks of (semi-)natural disasters:
For years some insurance companies won't insure your house if you own a "dangerous breed" of dog. When we got our pit/lab mix from the shelter and took her to vet for a check up, the vet even offered to put on her paperwork that the dog wasn't a pit mix to help prevent any issues with insurance. I just switched back to State Farm this year and they didn't even ask about animals.
In regards to SVrex, I can't imagine why those people would not carry insurance on their house just because it no longer has a mortgage......unless I had a reasonable home and was a multi-millionaire or something.
I am curious if the people complaining about insurance companies actually read their policies. Insurance isn't just carte blanche covering everything with no limits or restrictions.
In reply to SV reX :
If it makes you feel better, I told them to go to hell 5 years ago. They've done me no favors.
In reply to z31maniac :
I have very much read my insurance policy. What it actually protects is laughable. Hence, while I don't think going without homeowners insurance is a great idea, it may not be a terrible decision based on ones financial position and level of risk tolerance. I've had the highest deductible possible on my insurance for years, because something pretty catastrophic would have to happen for me to even file a claim.
It's a shame that people abuse the system, too, which is also what ends up causing rates to be so damn high for the rest of us. This was part of the reason I went with a local agent, and was able to negotiate a much lower rate than with the previous company. I told him, look, I'm not going to file a claim if my house gets broken into and the thief makes off with my $250 television and a stack of DVDs from the early 2000s. I'm not going to file a claim because my roof needs to be replaced, or for any other issue which is really maintenance. Just write me a policy that covers me in case of pretty much a total loss and call it a day.
Relating this thread to the DIY thread.
This is why I carry zero collision coverage on my motorcycles.
The insurance agent asks why and my response is always "because I'm the guy who will be fixing it and I'm the only one I trust to do it properly".
In reply to ShawnG :
It can also cover gear. I look at my stuff, and it's an easy grand to replace all of that if I trash it going down.
Unless you ride a Harley. Then you don't have to worry about gear.
z31maniac said:In regards to SVrex, I can't imagine why those people would not carry insurance on their house just because it no longer has a mortgage......unless I had a reasonable home and was a multi-millionaire or something.
The guy with no mortgage and $2M in the bank may be able to "self insure" against house damage, but he's going to want general liability coverage in case he gets sued. The usual way that happens is the first $500K or so of coverage comes with the homeowner's policy and then there's an umbrella that sits on top.
z31maniac said: In regards to SVrex, I can't imagine why those people would not carry insurance on their house just because it no longer has a mortgage......
Because poor.
In reply to ShawnG :
They will write you a check for damages even if you fix it yourself. They won't only pay a shop.
I've gotten more out of homeowners than I've paid in. Welcome to the land of hail storms. Same with car insurance, they just paid out $20k on my Land Cruiser. Motorcycle insurance is so cheap I don't see the point of not having full coverage. Even though I might be the one fixing it, I still want them to pay for the damages.
In reply to Duke :
I can guarantee that losing my discount for ten years will easily cost me more than new gear or new parts.
I'm at full discount which means 50% off my insurance. I pay $1200 per year for motorcycle insurance now, it's pretty easy math.
At least the government owned insurance company (which is the only vehicle insurance option we have) assures me that any other way would be more expensive. Because competition wouldn't lower rates at all.
In reply to ShawnG :
$1200/year for motorcycle insurance? For how many bikes? I just renewed my full coverage on my KTM 690, I think it was under $250/year...
volvoclearinghouse said:In reply to z31maniac :
I have very much read my insurance policy. What it actually protects is laughable. Hence, while I don't think going without homeowners insurance is a great idea, it may not be a terrible decision based on ones financial position and level of risk tolerance. I've had the highest deductible possible on my insurance for years, because something pretty catastrophic would have to happen for me to even file a claim.
It's a shame that people abuse the system, too, which is also what ends up causing rates to be so damn high for the rest of us. This was part of the reason I went with a local agent, and was able to negotiate a much lower rate than with the previous company. I told him, look, I'm not going to file a claim if my house gets broken into and the thief makes off with my $250 television and a stack of DVDs from the early 2000s. I'm not going to file a claim because my roof needs to be replaced, or for any other issue which is really maintenance. Just write me a policy that covers me in case of pretty much a total loss and call it a day.
In the theft claim in your example, of course why would you file a claim on something that isn't going to be more than your deductible?
I would absolutely file a claim if my entire roof was "totaled" due to hail/wind damage which is pretty common here in tornado alley.
Just as an FYI, agents do not set the rates, the underwriters at the particular company you're using do that. The advantage with an independent agent is that they sell policies from many companies that don't spend 8 figures or more per year advertising. Vs a State Farm or All State agent that only sells policies from that company.
I switched back to State Farm because the bundling both cars and the house netted me about an $850/yr savings vs having the home with Safeco (maybe safe home?) and the cars with Geico through an my previous independent agent.
docwyte said:In reply to ShawnG :
$1200/year for motorcycle insurance? For how many bikes? I just renewed my full coverage on my KTM 690, I think it was under $250/year...
Just one, a 1200cc adventure bike.
Welcome to Saskatchewan. B.C. was just as bad.
In reply to ShawnG :
That almost makes $2k/yr for my Toyobaru seem reasonable in comparison 
ShawnG said:docwyte said:In reply to ShawnG :
$1200/year for motorcycle insurance? For how many bikes? I just renewed my full coverage on my KTM 690, I think it was under $250/year...
Just one, a 1200cc adventure bike.
Welcome to Saskatchewan. B.C. was just as bad.
Damn, I pay $400/year for my 2021 BMW S1000RR.
I have a policy for 4 or 5 collector cars, it runs me about $350 per year.
Yup, imagine how expensive it would be if the government allowed competition :rolleyes
It's a good thing they're looking out for us like that.
In reply to Slippery :
I've gotta think your bike is worth quite a bit more than mine.
Shawn, that's nuts! Although your bike is also probably worth more than mine.
The point of coverage for gear is valid too, my policy covers $3000 worth of gear and another $3000 worth of aftermarket parts on the bike
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