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  #31  
Old 05-10-2013, 09:16 AM
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Originally Posted by biopete View Post
Im glad that had a happy ending. A sad story here my friend just told me -- her neighbor had their roof torn off in a tornado recently and it rained like crazy inside. they got tons of water damage as a result. The insurance company paid for a new roof but wouldn't pay for the water damage. Told her she needed flood insurance. True story apparently.
Since the water damage was a consequence of the roof damage, this just sounds like an especially sleazy insurance company trying to wiggle out of payment.
They usually hope the policyholder will just accept their response and go away.Sounds like time for a lawsuit and/or a complaint to the state insurance board.

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  #32  
Old 05-10-2013, 09:54 AM
t walgamuth's Avatar
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yes, sue their slimy azzes off!
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[SIGPIC] Diesel loving autocrossing grandpa Architect. 08 Dodge 3/4 ton with Cummins & six speed; I have had about 35 benzes. I have a 39 Studebaker Coupe Express pickup in which I have had installed a 617 turbo and a five speed manual.[SIGPIC]

..I also have a 427 Cobra replica with an aluminum chassis.
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  #33  
Old 05-10-2013, 10:04 AM
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Originally Posted by biopete View Post
Im glad that had a happy ending. A sad story here my friend just told me -- her neighbor had their roof torn off in a tornado recently and it rained like crazy inside. they got tons of water damage as a result. The insurance company paid for a new roof but wouldn't pay for the water damage. Told her she needed flood insurance. True story apparently.
time to sue... flood is from water rising, not falling... totally covered by storm damage policy.
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  #34  
Old 05-10-2013, 11:01 AM
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Originally Posted by t walgamuth View Post
I have trouble imagining being cancelled for no claims. A person who has had no claims as compared to someone with several is not "due" they are in fact less likely than the fellow with three to have one.
You can get cancelled for many things in Canada. We had to change all the oil tanks a couple of years ago. I suggested we run them down to empty and have some independant party scope each tank for rust at the bottom. I thought they were going to tag me for having one fuel line in concrete without any protection on the line as well. But they left that alone.

The ruling was over ten years old on the fuel tanks they must be changed out. Every tank is required to have a date of manufacture tag on it. They will drop you for any cast iron pipe present and not replaced in dwellings as well. Although personally I have never had any issue with the stuff.

It illegal to change the fuel tanks out now by the homeowner as well. As soon as that was implemated a cheap tank change went out the window. So I just changed them all and pled ignorance. So now you have to have an installers licence to buy a new tank.

Unlined older flues must have a liner installed. When burning oil perhaps carbon monoxide poisening is a rare risk on an unlined one but they do not insure for that risk. Burning wood on an unlined flue is too dangerous to even allow yourself mind the insurance companies.

The best protection is being a customer with a few policies at least. It is at least a two way street then. They do not want to lose the revenue and seem to pretty much leave you alone. If you want a new insurance carrier will mandate an overall property inspection for the last few years here.

As for the poor woman that probably got shafted with her roof off. The water damage was created by the roof loss unless the water in her homes area was above floor level in my opinion and I would fight that if it was not.

In most policies there is a clause for you to attempt to protect what is there even before the insurance company gets involved. Little can be done during the time of a tornado though. They can be billed for the expense.

Although if you do not act to limit damage in more obvious cases it can be held against you. Insurance companies are like governments. Always over time becoming more intrusive and expensive to use.

I asked for a reduction of auto premiums years ago on the basis of no accidents during my driving career. Refused on the basis of that I am just an accident waiting to happen. Insurance companies seem to have all the answeres in their favor.

One thing I never would do is to be somewhat slack in paying premiums. For several reasons I can think of you might get dropped.
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  #35  
Old 05-10-2013, 11:14 AM
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Originally Posted by t walgamuth View Post
I have trouble imagining being cancelled for no claims. A person who has had no claims as compared to someone with several is not "due" they are in fact less likely than the fellow with three to have one.
I suspect three claims on one structure here might get you cancelled. Depends on what the claims are though I imagine. In some cases it may take less. I agree with your sentiment Tom. Not all their decisions seem rational at the same time. Many may be based on some averages unknown to the consumer for example.
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  #36  
Old 05-10-2013, 12:50 PM
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Quote:
Originally Posted by biopete View Post
Im glad that had a happy ending. A sad story here my friend just told me -- her neighbor had their roof torn off in a tornado recently and it rained like crazy inside. they got tons of water damage as a result. The insurance company paid for a new roof but wouldn't pay for the water damage. Told her she needed flood insurance. True story apparently.
See Hurricane Katrina, August 2005, Mississippi Gulf Coast... BTDT
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  #37  
Old 05-10-2013, 01:41 PM
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Originally Posted by Simpler=Better View Post
Agreed. By that logic my car insurance company must be deathly afraid that I'll cause a 50 car pileup
It depend on how and or why you were to cause "a 50 car pileup."
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  #38  
Old 05-10-2013, 01:50 PM
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Thanks ngarover. I sent you an email. The house is nice. And at the expense of the yard.

You know I should post the pics of my yard. That should add some comedy to this thread. Hmm I can't see why the insurance cancelled me . Again before I post , I had no idea that they cared about anything other than condition of the house and appraisal value.
Well, perhaps you might contact them for details as to why - at this point? They apparently had reason to declare because of "condition of property," so that might be a clue to follow. Compare your policy's start date, terms of coverages, and the all important condition of your property, to how it is now, is another avenue to follow in drawing contrast to the reason(s) why.

Quote:
Originally Posted by biopete View Post
Im glad that had a happy ending. A sad story here my friend just told me -- her neighbor had their roof torn off in a tornado recently and it rained like crazy inside. they got tons of water damage as a result. The insurance company paid for a new roof but wouldn't pay for the water damage. Told her she needed flood insurance. True story apparently.
That can happen. It all hinges on how the contract reads.
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  #39  
Old 05-10-2013, 01:53 PM
1985 190d
 
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Here's my horror story:
Wife bumps some elses Subaru in a parking lot. NOthing earth shattering.

SInce I know that claims over 2000 will affect your rates, I ask to see the estimates.

"Oh, we already paid them" said the insurance adjuster. It was over two thousand dollars, so I looked at the estimates and found that the winning autobody shop had replaced ALL the cladding on the entire car.

I screamed bloody hell and the end result was that they adjusted the claim down to 1990.00 dollars. So thats the problem with insurance today, the insurance companies dont care what things cost, because they can pass it all on to the consumer. And the consumer doesnt pay attention, because "it's all paid for".
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  #40  
Old 05-10-2013, 02:50 PM
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If premiums increase after a fender bender. To me it is just a deffered payment program for the policy holder to pay the claim in some cases.
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  #41  
Old 05-10-2013, 06:34 PM
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Quote:
Originally Posted by biopete View Post
Im glad that had a happy ending. A sad story here my friend just told me -- her neighbor had their roof torn off in a tornado recently and it rained like crazy inside. they got tons of water damage as a result. The insurance company paid for a new roof but wouldn't pay for the water damage. Told her she needed flood insurance. True story apparently.

Only a sad story because the homeowner didn't read their policy and ask questions.

The following isn't directed towards biopete.

This isn't the fault of the ins co and is no different than a person whom generally asks for "car insurance" , ends up with liability only, then complains that the evil ins co won't fix their car after they ran over their mail box. When a person buys insurance, they are buying coverage for _specific_ losses and no company is going to cover something they didn't buy.

Here is how insurance works:

Take a group of people, figure out what % will suffer a specific loss. Total up the $ losses, add operating expenses, reserve buffer and profit. Divide the total costs by the number of people and you have what premium each person should pay. This is called shared risk.

If someone does not pay into the loss pool, there isn't $ in that specific loss pool to pay out, it's that simple. Also one can't buy insurance and expect it to pay after suffering a loss, if it worked that way no one would buy insurance in the first place.

If anyone feels that this is evil, feel free to start your own insurance company, I'm betting no one will. And, to address the crys that the ins co has lots of $, they may deal in large sums but the pit isn't bottomless. Besides, if you have a 401K or some pension fund I bet some of your $ is invested with a ins co,. . . you do want your 401 to do well don't you?
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  #42  
Old 05-10-2013, 07:05 PM
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About the insurance business:

Insurance companies (the right ones) are terrific to invest in, or operate. It's the only business I can think of that makes money, when you lose money by giving them your's, where you get nothing in return but a promise of sorts. -That type of business done right, is perhaps the most consistently profitable on earth.

I've taken notice that people seem to either complain about how lousy their insurance carrier is/was, or how great they are - but both kinds of people send them their money.
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  #43  
Old 05-10-2013, 11:03 PM
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OP, Talk to your agent. He "should" know the market and "should" be able to talk to the underwriter to find out what's going on. If not, find another agent. You want an old dog that has been around & has integrity. Find someone with a large block of business since he will have more knowledge and a stronger relationship with the underwriter.

Skid: I've not seen many people that decide to self insure. Those that can afford it usually choose to shift the risk to the carrier - at least most of it because the premium is relatively small. Those that can afford to self insure can afford the premium. Your choice. Don't complain when you have a large claim.
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  #44  
Old 05-13-2013, 01:44 AM
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Originally Posted by Junkman View Post
OP, Talk to your agent. He "should" know the market and "should" be able to talk to the underwriter to find out what's going on. If not, find another agent. You want an old dog that has been around & has integrity. Find someone with a large block of business since he will have more knowledge and a stronger relationship with the underwriter.

Skid: I've not seen many people that decide to self insure. Those that can afford it usually choose to shift the risk to the carrier - at least most of it because the premium is relatively small. Those that can afford to self insure can afford the premium. Your choice. Don't complain when you have a large claim.
Junkman,
Longtime friends of mine that are also hard working, self-employed, and have self-insured all their real estate holdings and cash-flowed all their healthcare for over 60 years got me to consider it a couple+ decades ago.

Their last home sold for $3.2M, and they downsized to an $800K home here a few years ago. Once the pricey home was paid off, (their cost basis was $120K in 1968) - no more insurance. One daughter had open-heart surgery many years ago, and of course they cash flowed that too.

If I can't afford to pay for it or stand to lose it, I figure I shouldn't buy it. It's just a mindset to pay your own way in life & live within your means. Of course if you borrow on everything - might not be a good idea to go without.

I won't complain - I'm already so far ahead of the game by investing the equivalent premiums for so many years, the sale of the lot and pocketing that alone will be a nice send-off in the event of a total loss. If it burns to the ground tonight, or tornado - big wow, time to rebuild or move. I'm good with it.

Ppl that believe their insurance policy is 'X' and it turns out to be 'Y' are the ones that really hurt after a disaster. Pls read your policies, or your folks' policies to shepherd them.
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  #45  
Old 01-02-2014, 04:54 AM
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Can't sleep. Updating my posts . I got a great new independent insurance agent who i can be honest with and he won't stab me in the back. He's a friend of a friend. I got home insurance no problem but now its 2400.00 a year. It went up by almost 1000.00 .

I talked to the old agent at Farm Bureau and basically they want nothing to do with us anymore. Too many claims on the car. We've never had a claim on the house or property. Basically the old country farmers insurance company has gone corporate and does'nt like insuring country homes with 8 cars in the yard

I'm curious how Vstech and other people that have like 20 cars do it? Do you just keep your cars on a piece of land that doesn't have insurance? Technically we aren't supposed to have any cars that aren't registered but no one has bothered me yet.

Before i hung up with my old Farm Beureu agent, he said they were canceling our auto insurance too. I mentioned my wife who had full coverage on her beetle with a 250.00 deductible at the time was in a wreck a couple weeks back and I was'nt going to report it since I didn't want our rates to go up. I asked how much the rates would go up. He suggested I not report it . She just ran of the road and cracked the fenders and dented the side rail good but no real damage. Well, long story short, I reported it as a final f-u to them a week before our policy expired. The body shop picked it up, gave a 3000.00 quote and we got a check for 2750 in the mail a week later. I didn't fix the car. The rear bumper is still held together with some screws and a piece of cedar for a bandaid. There is no point fixing it cause she will just ding it up again.

So Victory is mine! One thing i will say about farm bureau, is they have never acted angry or tried to screw us on an auto claim. They haves always just been very nice and helpful and written fair if not generous checks to us. Both parties are happy with the divorce .

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