I used to sell buildings, a hail storm hit a 15,000.00 building the adjuster was flown in from Florida(I dont know if that is relevant or not) the owner was paid just short of $28,000.00 for the structure damage. To take off and replace all the steel. They could have bought him a new building for less. The owner replaced the roof only.Not insurance, but I bought a steel building and we put it up ourselves and cleared enough to pay for a 6000 pound construction lift and had $10k left over compared to having a contractor do it.
So since this has never happened to me I guess I'll stick with paying not even that much for car insurance.
But please, feel free to think you have the one size fits all life advice.
I'm glad it hasn't happened to you, but if you think it doesn't happen you're wrong.
My mistake was waiting too long to get an adjuster out. The rest of the neighborhood had their roofs replaced, but magically mine had "no damage". It's their call with basically no recourse.
Truth is, as a whole no one is getting a "good deal" on insurance. In a perfect scenario we're helping each other out. In reality we're paying dollars to get back nickels, the rest is paying for the advertisements, employees, shareholders, and operation costs of the companies we're signed on with.
Yeah I will be shopping around.I've found that they'll offer a competitive rate to get your biz, then generally steadily jack your rates up, even though you file no claims. 40% annuallized not unusual. I don't really blame them - if clients don't shop/leave, I'd blame the clients.
As such, I switch insurers every 2-3 years. Back and forth between GEICO and AllState last 20 years. Just switched to AAA this week, through an independent agent here in MN. They came in at ~50% less than anyone else. Took an online defensive driver course to save. I'm paying in the $600s/year for auto.
Yes, many times.They have very smart people they pay a lot of money to make sure they come out on top most of the time. They also have a lot of other well paid people working for them.
Even at the agent level, have you ever encountered a struggling agent?
Insurance always wins. Anyone who thinks they really got over on the insurance company is similar to the regular gambler who hits the jackpot once a year and thinks they're making money off the casino.
Well no ****. Just like the casino.Maybe a better way of saying it is that on aggregate, insurance wins. I can assure you that insurance doesn't win in every individual situation.
We should all also be mad at the amount of fraud committed against insurance companies.
Last year or two, there was a lady here in Iowa that stole some guy's identity, filled out fake beneficiary forms, and filed a fake death certificate for him. Collected something like $250,000 in life insurance. The "dead guy" found out by chance when he applied for a new policy or something that he had been reported as dead.
Yes, she was caught, but they are only going to ever recover a fraction of that money. There are pics / videos out there of her filling her shopping cart to the brim at Walmart a few days after getting her check!
Maybe we could start a separate thread on people we know of who defrauded insurance?
Know a guy that hit his ac unit with his car on purpose and then blaimed it on his under 16 year old kid.Maybe a better way of saying it is that on aggregate, insurance wins. I can assure you that insurance doesn't win in every individual situation.
We should all also be mad at the amount of fraud committed against insurance companies.
Last year or two, there was a lady here in Iowa that stole some guy's identity, filled out fake beneficiary forms, and filed a fake death certificate for him. Collected something like $250,000 in life insurance. The "dead guy" found out by chance when he applied for a new policy or something that he had been reported as dead.
Yes, she was caught, but they are only going to ever recover a fraction of that money. There are pics / videos out there of her filling her shopping cart to the brim at Walmart a few days after getting her check!
Maybe we could start a separate thread on people we know of who defrauded insurance?
Sure hope karma gets him.Know a guy that hit his ac unit with his car on purpose and then blaimed it on his under 16 year old kid.
I had an older car that got caught in a hail storm. I still had full coverage on it, but it was probably only worth like 8 grand at the time. The insurance company cut me a check for $4,400, and fixed my busted windows for free (I guess it was part of my insurance plan). I had a $500 deductible. I didn't really think the car was worth fixing up at that point, and most of the dents really weren't that noticeable unless you looked at it in the right sunlight at the right angle, so I just kept the money and used it to go on a dream vacation for me, my daughter and my grandson.With all the destruction from the storms lately we hear of all the disappointment when working with insurance companies but have you ever felt like you came out on top? My best was reshingling my home and another unattached garage after a hail claim. A buddy and I shingled as a side gig for years so I had all the tools (nail guns, compressor, toe holds ladders etc.) so I decided to tackle it myself as it was fall and he was busy harvesting. At age 65 it took some time to tear off 40 square from my cape cod with 10/12 pitch roof and tote 120 bundles up the ladder. I at times questioned my own sanity and my wife wanted me to hire someone to finish when I was only halfway done., but my pride wouldn't allow that to happen. End result I got a new roof done to my exacting standards and pocketed $17,000 dollars--the difference between the insurance check and the cost of materials. We bought some toys!
Yeah I will be shopping around.
we are now paying $430 per month for 3 cars, with Allstate. It went up $130 this renewal.
The problem is, every time we change the new "Low" price is reset to a new norm, which is still a significant increase, each time you switch you become happy with this "new low" even though these prices are continuing to outpace inflation.
That is total for 3 cars. 2/2020s and 1/2019. Full coverage on all. Daughter is on policy but she is 21, and gets good student discount.$430/ month? Is that total? Do you have brand new cars or something? That seems crazy high. I have 2 vehicles, 1 newish and 1 2006 truck and pay less than 100/month. One has full coverage (still making payments) and one is liability.
Maybe it’s because I rarely buy cars worth putting full coverage on them, but that seems crazy.
You are getting screwed. You should shop around.That is total for 3 cars. 2/2020s and 1/2019. Full coverage on all. Daughter is on policy but she is 21, and gets good student discount.
Very good credit, since it was said they look at that.
1 minor accident a couple years ago. (something fell off a truck in front of wife and she couldnt avoid it, should be comp in my opinion, but they counted it as collision.) According to the breakdown it costs us a little but no way close to what the overall price is.
we also bought some toys for herWe used to call OP's mom "insurance company," didn't we, @CoachHines3?
......... End result I got a new roof done to my exacting standards and pocketed $17,000 dollars--the difference between the insurance check and the cost of materials. We bought some toys!