[graciegirl]

Many bills for home insurance have gone WAY up, because our homes are becoming quite a lot more expensive to replace.

[Seamus6]

We go through a broker. We insure our house and two cars with higher limits than we had AND a 1,000,000 umbrella policy on top of both for much less than we were paying before. The broker does the shopping for us and every 2 or 3 years they change our policy to another company (asking us first, of course). It's easy and cheap! we always get major companies...never GEICO...heheh

[butlerism]

Helllooooooo.
You live in the villages.
You can drive a golf cart.

Now we go to Math Class.

Monthly car insurance number.

Take your monthly rate divide it by 4.286 (30/7= 4.286)
Look at that number.

Think about how many days you really need the car.
Pick up a rental if needed. Cheaper.

Stop being so spoiled.
I watch the weather.
I plan my days accordingly.

We do not need a car.
I ditched mine a long time ago.

USAA and Geico are the same company.
Look it up.

Here is their scam.
Geico looks back five years.
USAA four years.
State Farm three years.

..... Go ahead math GURUs. show me how to compare rates and make that decision.

USAA and Geico they are vacuums. They are glad to take your money, and more than ready to drop you for something as simple as hitting a pothole on a road trip in another state.

They gave me that BS in New York.
In Vermont, Road covered by snow and freezing temps.
The underwriter said to me " surely you could have avoided the pothole!"
I went into a rage. Pothole filled with water and ice, covered by 1/2" of snow.
Yes you are right low paid idiot. I could see that pothole
I was screaming.

IT IS ALL NUMBERS TO THEM
THEY HAVE YOU BY THE BALLS

USAA.... when I joined 35 years ago was OFFICERS ONLY
They ditched that model and now allowed Enlisted and family.
There goes the lower rates premise.

You are an Officer. More responsible. You deploy over seas (meaning you are not here and driving) .
Your rates will be lower.
VOILA they duped many many vets.
Ditch Geico.
Ditch USAA.

If you want to keep them. Give me your address. Put a candy bowl out front on the first day of the month with $50.
I will be glad to take your money too.

PM me if you want to drill down into the numbers.
Bottom line. they are crooks.

Sorry. Car insurance is the biggest scam

Happy Fourth

KJB
LT, USN Submarines, Retired

[butlerism]

Seamus.
Please PM me.
Lets beat them all and start our own agency

[Skip]

If you think insurance companies gouge policy holders each year and keep raising rates, then you are on the wrong side of the deal.
One way to get your insurance premiums paid for you is to own part of the company.

If you bought just $6,000 worth of stock in Progressive Insurance (symbol: PGR) [Only sells vehicle insurance, the very profitable part of the business - Homeowners is covered by partners, not by Progressive] at $77/share a year ago (7/8/20) and sold it today at its $99/share price, you would have gained 28.5%, or $1,714, PLUS it paid $382 in dividends over the last 12 months. Over $2 grand increase. And the next results look even better since few people drove cars during the pandemic.

Or take Allstate Insurance (symbol: ALL). That $6,000 investment gained by 46.2% plus $174 in dividends. That's almost $3 grand increase.

That's enough to pay for your premiums and still have money left over for oil changes, car washes and a mini-vacation.

With a business like this, don't be the buyer, be the seller!

Skip

[bobnyce]

Originally Posted by davephan

In Florida, one of the higher costs is insurance. That’s just life in Florida! It just like the higher driving speeds are “normal”. But much more important, is the number of totally reckless drivers on the Florida roads. The small round signs and crosses next to the roads should be a reminder to you about the result of all the reckless and irresponsible drivers in Florida. Our auto insurance is almost double in Florida compared to Minnesota. If you wonder why, just look at all the reckless drivers in Florida.

There are several things that could be done, that aren’t being done. The police could concentrate on just the reckless drivers. Suspend the reckless driver’s driving licenses. If they are caught driving with a suspended driver, put them in prison for a year. Much fewer people would risk driving with a suspended driver’s license, if there was a risk of going to prison. They could also confiscate the vehicle. If their driver’s license was suspended multiple times, then revoke their driver’s license permanently. If they are caught driving with a revoked driver’s license, put them in prison for 5 years. If there’s teeth in the law, people will obey the law. The people who don’t obey the law, and go to prison will serve as examples to other people, and cause more people to obey the law.

People who have histories of reckless driving arrests, could have their rates drastically increased. Then the auto insurance for responsible drivers would decrease, and the costs would be shifted to the irresponsible drivers, because the responsible drivers are currently subsidizing the reckless drivers now.

The umbrella insurance is a little higher in Florida, but not drastically higher, like auto insurance. Have you ever noticed the billboard’s where the attorney got me $500K, or some other amount? Have you noticed all the attorney advertising on TV? While some people deserve compensation for their injuries, there are others who are faking their injuries for essentially a lottery payout.

If you maintain your insurance without periodically switching companies, the insurance companies will gradually increase your rates. It’s your task to periodically shop for insurance, and switch insurance companies periodically. If you stay with the same insurance company for decades, then the insurance company know that you won’t leave them if they gradually raise your rates.

In case you haven't noticed the trial lawyers and insurance lobby run Florida. Anything they want they get! Why arrest unlicensed drivers if they create the forum for suing your own insurance company when you have an accident involving an uninsured, unlicensed driver? Trial lawyers thrive in this environment. Home insurance has had several hidden changes in the last few years driven by the lobbyists. Standard homeowners insurance only covers sink holes if your house is uninhabitable now thanks to the insurance lobby. Oh yes, and if your roof blows off in a storm you better be prepared to subsidize a new one because it will be prorated based on whatever the insurance company thinks is reasonable. Doesn't matter if your roof was in perfect condition. No, they will decide since they could not win in court with the crooked roofers they went to the legislature to get what they wanted. Sound familiar - it is!

[THUNDERCHIEF]

We use travelers ins. Great insurance, and best price

[OhioBuckeye]

Originally Posted by PennBF

Has anyone noted the outrages Geico charges for insurance. In the case of Umbrella Policies they have more than doubled the charges. Not sure yet what they are going to do with the Auto Insurance policies? It seems it allegedly may be tied to age as even if you
never had a claim in 40+ years and have a credit rating of greater than 800 you are still subject to a 100+% increase in your rate? It is allegedly beyond outrages abuse of the seniors.

I hear you! Every Ins. Co. I get emails from say they can save me 5-6- or $700. dollars, but when I call them & I did they’re always hundreds of dollars higher than the 2 or 3 that I already checked. When I called Geico they were higher than the lowest of estimate that I already had. In fact the Geico agent I talked to couldn’t believe his estimate was $200. Higher than the lowest of the 3 that I already had. A few questions he asked me, he asked me if I mind if he put me on hold, I knew what he was doing, he did a credit check on me which I very clearly asked him not to do. Well he lost a client right there! PennBF you’re comment was right on.

[snbrafford]

Originally Posted by PennBF

Has anyone noted the outrages Geico charges for insurance. In the case of Umbrella Policies they have more than doubled the charges. Not sure yet what they are going to do with the Auto Insurance policies? It seems it allegedly may be tied to age as even if you
never had a claim in 40+ years and have a credit rating of greater than 800 you are still subject to a 100+% increase in your rate? It is allegedly beyond outrages abuse of the seniors.

I recently switched to AAA Insurance. Not related to the Geico post but I had a problem with Cabrillo Coastal and the age of my roof and with the FL insurance changes that went into effect on July 1, thought it was time to change. I went to AAA for home and auto and umbrella. I had auto and umbrella with Progressive (no problems - just got a bundled rate) and I saved money on all three. AAA is well known and the local agency was great to work with.

[Petersweeney]

Insurance is the craziest game on the planet

[tovliteuser]

Just got a new home insurance policy after the old one went up 95%. Check out Farmers Insurance. Only draw back is that in addition to the normal wind mitigation report (got one when the roof was redone) they need to have a 4-point inspection for the roof, ac, electrical and plumbing. Cost for this inspection was $100 but it is only required once for the lifetime of the policy. Since I saved over $500 on the new policy, I thought it was well worth it.

[tovliteuser]

Been looking for home insurance since my rates almost doubled. Best rate with a long established company was from Farmers Insurance (Brian Knight out of Ocala). Wind mitigation report was a must but I also had to get a 4 point inspection done (roof, ac, electrical, plumbing) which cost me $100 but is good for the life of the policy. I saved over $500 on the new policy so I thought it was a pretty good deal. You may find cheaper rates from a new player in the game but Farmers has the best rates of all the companies that have been around a while.

[Aces4]

Originally Posted by Skip

If you think insurance companies gouge policy holders each year and keep raising rates, then you are on the wrong side of the deal.
One way to get your insurance premiums paid for you is to own part of the company.

If you bought just $6,000 worth of stock in Progressive Insurance (symbol: PGR) [Only sells vehicle insurance, the very profitable part of the business - Homeowners is covered by partners, not by Progressive] at $77/share a year ago (7/8/20) and sold it today at its $99/share price, you would have gained 28.5%, or $1,714, PLUS it paid $382 in dividends over the last 12 months. Over $2 grand increase. And the next results look even better since few people drove cars during the pandemic.

Or take Allstate Insurance (symbol: ALL). That $6,000 investment gained by 46.2% plus $174 in dividends. That's almost $3 grand increase.
That's enough to pay for your premiums and still have money left over for oil changes, car washes and a mini-vacation.

With a business like this, don't be the buyer, be the seller!

Skip

Now you have hit the nail on the head, what’s the biggest farce of all, the stock market! Why are so many companies public now, what is the purpose? How many businesses actually need to raise capital which was the primary intent of going public.

So many of these insurance companies and other businesses don’t need the extra capital and their stock is way overvalued. They need to show profit for their stockholders so the customer is wrung out for every nickel and left holding policies with high deductible and poor coverages.

Anyone here remember mutual insurance companies? Owned by the insureds and serving the insured only and not some other false gods where money is siphoned off by ceos, huge advertising budgets and the “something-for-nothing” investors. People are sheep being sucked in by slick maneuvers that actually harm their way of life. How much premium do we pay for so many things that have no need to be a public company.

[ithos]

Originally Posted by Aces4

Now you have hit the nail on the head, what’s the biggest farce of all, the stock market! Why are so many companies public now, what is the purpose? How many businesses actually need to raise capital which was the primary intent of going public.

So many of these insurance companies and other businesses don’t need the extra capital and their stock is way overvalued. They need to show profit for their stockholders so the customer is wrung out for every nickel and left holding policies with high deductible and poor coverages.

Anyone here remember mutual insurance companies? Owned by the insureds and serving the insured only and not some other false gods where money is siphoned off by ceos, huge advertising budgets and the “something-for-nothing” investors. People are sheep being sucked in by slick maneuvers that actually harm their way of life. How much premium do we pay for so many things that have no need to be a public company.

USAA was supposedly one of those. Compared rates recently for car insurance realized I was paying too much. I also wanted home insurance with them but their quotes were out of sight. I am going to get new insurance and cash out my subscribers account. I can find better things to do with $3800 and the money I am going to save by switching.

They charge a much higher premium for living in Florida.

[Marykschulz]

Our umbrella policy with Progressive is renewing next month for the exact premium price as last year.