Well I did know adding the premiums would make for scintillating conversation. I almost left it it off, because a bit pointless without bloody details.
I made an insurance policy spreadsheet
- Thread starter Pablo
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His spreadsheet is so vague. Don't compare your rates to his. Your not comparing apples to apples. There's no mention of deductables, coverages and limits.
You can do a search for insurance company complaints on any company and you will have pages of complaints. Goes for any product or service. Its the age of the internet after all!
See what I just wrote
+1 I have zero love for insurance companies and even less patience. As soon as they raise rates I start shopping, knowing that in a year or two the game starts all over again. I laughed when my State Farm guy pitched the personalized service he provided when I questioned his increase and informed him I was switching to The Hartford, saving a ton of money at the time. I asked him what service was he providing that was worth [IIRC] the $1,600/year I was going to save. I asked if it was mailing my renewals and hiking the rate? Needless to say he wasn't a happy camper, and I didn't care. LOL
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State Farm is a joke here.
Guy said he could match my rates.
Ended up matching but at half the coverage...I actually feel sorry for them.
I checked them out when shopping for houses in Florida about 2 years ago, boy does time fly. I was in shock at their rates compared to what I was paying in NY. They wouldn't cover my van in Florida, not sure why, no tickets no accidents, age of the vehicle maybe? I forget now. So with dropping the van and dropping our umbrella policy, their rate for auto insurance was about $1,200 a year more than what I pay in NY, and homeowners was twice as high. INSANE!!!
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Are you buying lunch?We still have that OSB block job
Dad died at 46, trying to make it past his age. Never know when it’ll get ya, but try to make sure the family is taken care of.
Sometimes I think I’m saving too much and should live a little more since genetics aren’t on my side. Who knows!
Owen Lucas
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I have had complaints made against me, well the insurance company as well. Just following orders, customer didn't like aftermarket/recycled parts etc. and it's in the policy. Sometimes we make it "go away" but other times you're blindsided by a complaint. It's not biggie. Management has to resolve it, respond in a letter etc.
Owen Lucas
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I'll upload my policies and banking statements to AI, have it sort/itemize everything and make a spreadsheet. Been meaning to do that for a while.
Seems reasonable but then again it all depends on your risk and where you are.
I see insurance as a way to cover risk I don't want to take. I can afford to die tomorrow and my kids will be fine financially so I won't buy life insurance. I can afford to crash my beater tomorrow and I don't need the insurance to pay it off so I won't buy comprehensive for that. I would be worried about someone coming to my home and got injured and sue me so yes I would buy an umbrella to the max.
Buying rental property then try to skip insurance? I would never do that and I told my parents to not do that if they want me on the name. They said it cost too much and would drop the yield, and I told them maybe they should just sell the rentals and buy T-Bill. They are making either minimum wage managing them or they only got like 1.5% return after all the expense and paying themselves minimum wage.
Sometimes it is better to be a tenant than a landlord, sometimes it is better to buy insurance than to sell them.
I see insurance as a way to cover risk I don't want to take. I can afford to die tomorrow and my kids will be fine financially so I won't buy life insurance. I can afford to crash my beater tomorrow and I don't need the insurance to pay it off so I won't buy comprehensive for that. I would be worried about someone coming to my home and got injured and sue me so yes I would buy an umbrella to the max.
Buying rental property then try to skip insurance? I would never do that and I told my parents to not do that if they want me on the name. They said it cost too much and would drop the yield, and I told them maybe they should just sell the rentals and buy T-Bill. They are making either minimum wage managing them or they only got like 1.5% return after all the expense and paying themselves minimum wage.
Sometimes it is better to be a tenant than a landlord, sometimes it is better to buy insurance than to sell them.
That's not what my body shop said. They charge more because Elon deliver parts late and they are pain in the butt to repair. Glad a poor boy like me don't have one.
$1200 for homeowner's? How is that possible? Ours is nearly $6k with a terrible 5% wind deductible. Hurricanes, but still.
Regional. You might have $6Meg house. My house and shop is around $700-800K replacement. Etc
I’m at 1450 near the coast of North Carolina
The concept is excellent. I'm pretty close to 5 figures for my 3 vehicles and house, but everyone's risk profile is different.
It's called being in Harris County.
This is what caught my attention and thought Pablo was addressing me personally. I resemble that remark, LOL (just turned 70). We just started an umbrella policy after I procrastinated 2 years. On a recent visit to our financial advisor, he did not think we needed elder care insurance nor a trust for OUR unique circumstances. We have a Will, beneficiaries all up to date, prepaid funeral plans (includes cardboard box), living will, power of attorney, etc.. He suggested we start spending more money. I am obliging by attempting to spend down my kid's inheritance.
Thanks Pablo for the helpful info.
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