anyone use geico insurance? - Page 6 - PeachParts Mercedes-Benz Forum

HuskyMan · #76 03-13-2014, 09:40 AM

Quote:

Originally Posted by Botnst

In your experience as an actuary, is it your opinion that every consumer of your product should pay exactly the same, regardless of the probability of this or that segment being a greater or lesser risk?

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This. I don't know my a** from a hot rock. I constantly spew out opinions about subjects I know nothing about. I charge five cents to give out extremely BAD ADVICE. Some say I might be an ideal candidate to run for political office......

aklim · #77 03-13-2014, 09:55 AM

Quote:

Originally Posted by HuskyMan

.

This. I don't know my a** from a hot rock. I constantly spew out opinions about subjects I know nothing about. I charge five cents to give out extremely BAD ADVICE. Some say I might be an ideal candidate to run for political office......

True but don't sell yourself short. The half baked stories you weave around the opinion might be worth the 5 cents for the comic value.

Skid Row Joe · #78 03-13-2014, 03:38 PM

Quote:

Originally Posted by Skid Row Joe

HuskyMan has done a masterful job of depicting the theme of not only the insurance business, but the success resultant that is sometimes achieved by owners and investors in any number of insurance companies, including Berkshire-Hathaway, Inc.

I would like to expound on the idea that they (insurance companies) have you believing that you need their products.

I suspect that notion is the result of being bombarded with highly effective advertising done in signage, print, cyber, and over the television and radio networks.

Who doesn't recognize the gecko, or the Mayhem guy that hawk two brands of insurance?

In some cases, you are required by law or lenders, that you do indeed carry insurance before they will lend you money for a car or a piece of real estate - your residence for example, or allow you to get a business or drivers license, a license for your vehicle, or State inspect your vehicle to legally travel public streets and highways.

Whether it's a good idea to carry insurance on one's paid for real estate, is a whole other issue. To my knowledge, you are not required to insure paid for, non-lien holder property, but the owner of that property then needs to assess whether he is willing to risk up to total loss of the dwellings on that property, assorted legal liabilities, and the ramifications that follow.

When you carry insurance, you transfer the risk of loss to another to keep your asset whole.

Quote:

Originally Posted by aklim

For you, maybe. I don't buy every conceivable policy that I have been told to get.

Gecko, yes. Don't have him now. The other guy? Not a clue who or what you are talking about.

Seriously? Would YOU lend me money and put a lien on my house with no insurance? You that crazy? If so, I have a few people who want to borrow money and you can take a lien off their oil wells in Texas. No deeds though. Their good word. As to driving, would YOU be ok with me damaging your property and saying "Mea Culpa". Sorry, I got no job or money to pay. But it's ok. Your insurance can pay and jack your rates up?

That is fair enough. Let your house burn down for all I care. Now if I held the lien on it and you have no insurance, I could take the land but the house on it would be ashes and you'd still owe and probably not pay and declare bankruptcy.

Most, not all risk. There is still the deductible.

Not sure what in my quoted post you are responding to IN BOLD, or what I wrote would cause you to respond to it the way you did, so I thought I'd ask?

Not sure what your point is you're trying to make to me, since I already understand the insurance business. Was there one?

Mölyapina · #79 03-13-2014, 03:52 PM

Quote:

Originally Posted by HuskyMan

.

This. I don't know my a** from a hot rock. I constantly spew out opinions about subjects I know nothing about. I charge five cents to give out extremely BAD ADVICE. Some say I might be an ideal candidate to run for political office......

That's hilarious

. Never in my life did I think you'd type that.

HuskyMan · #80 03-13-2014, 04:20 PM

Quote:

Originally Posted by Jooseppi Luna

That's hilarious

. Never in my life did I think you'd type that.

I learned these very valuable skills at a young age from watching CNN, MSNBC, Fox News and the like. Talking heads talking trash.

Botnst · #81 03-13-2014, 05:30 PM

Hahahaha!!

(got me, damn!)

link · #82 03-28-2014, 04:14 PM

As a brief follow up, I ended up going with geico. The original company jacked my rates upon renewal and once I gave the coverage details to the geico rep, they reduced their fee.

I looked at Horace-Mann (thanks for the tip!) but as I understand it, they only insure educators and their immediate family members. Due to this I didn’t ask for rates.

I don’t recall if I mentioned it previously, but this all started when I received a late payment notification from the old insurance company for no good reason. I called my rep and said I wasn’t gonna pay it. I asked them to contact the insurance company. The insurance company stated they did not renew the policy because of this unpaid late payment fee. They also stated that they never received a notice from the rep. The rep stated they had notes of when I asked for this and who they spoke with at the insurance company. According to the rep, the insurance company dropped the ball. Of course, neither the rep nor the insurance company got back to me, which suggests this is a good company to have in the rear view mirror.

Due to the rate inflation mandated by the old insurer, the comparative savings is $328 per year. In other words it amounts to a rate increase of about $300 per year. Fuked again......but not as hard as the old insurance company wanted to.

Since66 · #83 03-28-2014, 11:11 PM

Quote:

Originally Posted by HuskyMan

.........

I recently spoke with a gentleman in the lock and security business. His house is far from paid for, his vehicles are expensive to operate and maintain. He told me his property and casualty insurance agent has lived in a PAID for home and has driven PAID for cars for the last twenty years. After he shared this information, I asked him a question; What do you think this means to you and I?? He replied, it means the insurance agents and insurance companies are getting wealthy off the backs of the little people.

And so it is.......

Baloney, it means that the agent most likely worked his butt off for many years developing a client base that stayed with him because he offered good service, a good product, and competitive pricing.

"..getting wealthy off the backs of the little people." HA!. Sounds like "Workers of the world unite, you have nothing to lose but your chains"

aklim · #84 03-28-2014, 11:22 PM

Quote:

Originally Posted by Since66

Baloney, it means that the agent most likely worked his butt off for many years developing a client base that stayed with him because he offered good service, a good product, and competitive pricing.

"..getting wealthy off the backs of the little people." HA!. Sounds like "Workers of the world unite, you have nothing to lose but your chains"

Or maybe he inherited it, his wife inherited it, won lottery or whatever. Without his financial statements, we can speculate till doomsday and not know what happened.

Botnst · #85 03-30-2014, 04:51 PM

Space alien gold meteors. Gotta love'em.

Skid Row Joe · #86 03-30-2014, 05:56 PM

Quote:

Originally Posted by HuskyMan

I think it is difficult for people to see who is winning and who is losing in this big old world of business. The tallest and most lavish buildings are owned by insurance companies and banks. You, on the other hand, live in a mortgaged house complete with never ending bills.

I recently spoke with a gentleman in the lock and security business. His house is far from paid for, his vehicles are expensive to operate and maintain. He told me his property and casualty insurance agent has lived in a PAID for home and has driven PAID for cars for the last twenty years. After he shared this information, I asked him a question; What do you think this means to you and I?? He replied, it means the insurance agents and insurance companies are getting wealthy off the backs of the little people.

And so it is.......

Your observations of how you believe most Americans go about building and obtaining their wealth, is so incorrect and wrong, Husky Man.

Quote:

Originally Posted by Since66

Baloney, it means that the agent most likely worked his butt off for many years developing a client base that stayed with him because he offered good service, a good product, and competitive pricing.

"..getting wealthy off the backs of the little people." HA!. Sounds like "Workers of the world unite, you have nothing to lose but your chains"

Agreed.

"Baloney," indeed!

The vast majority of wealthy folks in America got that way by both working for it, AND understanding how to build that wealth.

Many ppl don't seem to understand how AND why many Americans got their wealth.

elchivito · #87 03-30-2014, 08:21 PM

One of my cousins is married to a guy who has a commercial insurance brokerage. He doesn't work very hard. The family is either on vacation or planning their next one. Their kids are in private high schools. I respect the guy for being smart enough to get into a biz that pays him handsomely but would never accuse him of working hard or taking any risks. His wealth comes from the premiums paid by actual hard workers and risk takers; those willing to invest in businesses and commercial real estate.
They come to visit once a year for a few days and his girls always want to go riding. I make sure he gets the most difficult horse, and helping me butcher and clean a chicken is always on the to-do list too.

INSIDIOUS · #88 03-30-2014, 08:41 PM

Quote:

Originally Posted by elchivito

One of my cousins is married to a guy who has a commercial insurance brokerage. He doesn't work very hard. The family is either on vacation or planning their next one. Their kids are in private high schools. I respect the guy for being smart enough to get into a biz that pays him handsomely but would never accuse him of working hard or taking any risks. His wealth comes from the premiums paid by actual hard workers and risk takers; those willing to invest in businesses and commercial real estate.
They come to visit once a year for a few days and his girls always want to go riding. I make sure he gets the most difficult horse, and helping me butcher and clean a chicken is always on the to-do list too.

I sure hope that when all is told your cousin turns out to be a gal