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My homeowner's insurance paid when I had a full semester's worth of books stolen from my truck while I was at work. They didn't pay for the damage to the vehicle from the break-in, but they did pay for the contents.
My mother's dog ate her wedding rings and her homeowner's insurance paid for it. They didn't ask for the dog to be turned over to them.
They cover all these nonsense things for rich people like spoiled wine but they don't cover important things for real people. Then of course there is the deductable. Every time you turn around they either raise your rate, rasie your deductable or both. Probably to pay for someones wine or marijuana or the big fat salary and bonus of the executives of the company.
It's what they don't cover that counts to me. If the would cover things that made sense instead of things that don't make sense we would all be better off. A few years ago when the tree in my yard fell on my pickup I found out that not only was I not covered to get my pickup fixed but the tree itself wasn't covered either. I could collect to have the tree removed but wait that meet the deductable.
I have been trying to get our insurance company to repair our kitchen floor after the dishwasher leaked and ruined the floor. I don't know what I have been paying for (about 15 yrs ago an agent came out and gave us what he thought was the best coverage and I have never had any reason to doubt it until now). LONG story short, the company wants to remove my cabinets and countertops but not REPLACE them and they don't want to fix the floor underneath where the dishwasher leaked. Basically they want to rip up the vinyl and replace that not taking into consideration the damage the subfloor has substatined. I'm not asking they pay for a new kitchen and I understand they won't cover the dishwasher replacement, but don't you think they should fix the floor where the problem originiated? I'm very confused and frustrated.
Hmm, I wonder if there's a "recovery fee"?
As a contractor, I have completed many insurance claims, over 2,000. Many times people purchase the cheapest policy and don't read the declarations and exclusion pages. I know, they are lengthy. But when you get three quotes and the third quote is way cheaper than the other two, something is wrong.
Most insurance adjusters will give the insured the benefit of the doubt. Some homeowners feel a sense of entitlement and consider insurance premiums as a savings account rather than protection. Some homeowners try to get contractors to inflate the loss so the deductible can get covered. That is illegal for both parties. It is a tricky business. However, if you believe you have been treated unfairly there are options such as hiring a Public Adjuster (who gets a percentage of the funds), hiring an attorney, or filing a complaint with the Insurance Commissioners office. Most states also permit Mediation and Arbitration to avoid costly litigation.
People wonder why insurance premiums are out of control. I'm pretty sure its as a result of the socialistic actions taken by our benevolent rotten 2-party system.
Here's an astounding fact. When I purchased my first home 50 years ago I had enough down so that I could pay for taxes and hazard myself without escrowing monies with the mortgage company. One year hazard policies were impossible to find, Only 3 year deluxe homeowner policies for $55 were available. Astoundingly everything was covered and I don't remember having reams of exclusions like today's policies.
What went wrong????? Here's my guess. After the Kennedy assassination, Johnson took over in 1963 and started the 'GREAT SOCIETY'. By 1967 rioters were burning the cities down. The national guardsmen were told to just stand there with empty rifles and just watch the looters destruction. With the insurance companies on the hook for the damage, cancellation notices were sent out en mass to the city business owners in order to stem any further losses.
Our government panicked, fearing such action would turn every center city in America into a ghost town.
The Johnson administration acted quickly by telling the insurance companies to recall the cancellations and then amortize the losses onto everybody's hazard policy. Insurance companies loved this idea because their profits were regulated to a fix percentage of their business which would now increase astronomically.
The 3 year Deluxe Homeowners policy for $55 went the way of the DO-DO-Bird and the NY landlords who owned dilapidated warehouses and fixed rent tenement houses saw their insurance costs ramp skyward. Their solution was to spawn a new crime industry called "ARSON FOR PROFIT" and even greedily stuffed their properties with imported junk (the paperwork showed otherwise) before having them torched whether occupied or not. The insurance companies loved it as this amortized percentage increased their earnings even more volumetrically.
Now today, no matter where you live, you help pick up the cost for the disasters that occur throughout the country.
Isn't socialism wonderful?????
Where, OH where is Ross Perot???? Get his shovel and clean out the barn. That giant sucking sound is making me deaf.
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New rules mean that longevity annuities -- insurance against outliving your money -- are more attractive for retirement savers.
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