Let's all get real about the #'s

[MRGALT2U]

Quote:

Originally Posted by Martha Come on John, you don't want to have to go back to work do you?* It can't be that expensive to add the truck to your liability coverage.* Sell some stuff you scrounged at garage sales and pay for the liability insurance.* **

Nope!

Quote:

I hate paying any kind of insurance premium. So far over my lifetime it's been a net loser.

I'd feel the same way you do, but I'm a net gainer. Our house burned in the Oakland fire of 1991, and the insurance company gave us about $700,000. And my wife's operations for a brain tumor probably cost over a million, and we didn't have to pay a penny.

So whenever I get irritated at paying high insurance premiums, I think about that.

Of course those life insurance premiums were a waste -- bummer!

[MRGALT2U]

Quote:

Originally Posted by TromboneAl I'd feel the same way you do, but I'm a net gainer.* Our house burned in the Oakland fire of 1991, and the insurance company gave us about $700,000.* And my wife's operations for a brain tumor probably cost over a million, and we didn't have to pay a penny. So whenever I get irritated at paying high insurance premiums, I think about that. Of course those life insurance premiums were a waste -- bummer!

Well, that's why we buy insurance. If I had saved all of those premiums over all those years, it would be a small fortune. Yet, we all know of stories where people were saved from financial disaster. BTW, those
life insurance premiums WERE a waste. Indeed! Right now, I have
pretty minimal insurance on both homes, no boat insurance and no riders
on the homeowners. Health insurance is pretty basic. The next step
would be going bare. I am thinking about cutting back the auto insurance to the minimum required by law. I will need a new agent
though as my current agent refuses to do it.

JG

[cute fuzzy bunny]

Al - for a small fee I'm sure we can fix that life insurance problem.

John - for you, an even smaller fee will get the job done

[BUM]

I HATE paying any kind of insurance premiums. Its so easy to become over-insured. With the business I had life, biz auto, transit, disability, biz interruption, professional liability, general liability, plus all the personal coverage...ARRGHHH :P

Now in ER I've cut all the biz related and trimmed the personal. Overall I've had my share of claims...running about even.

BUM

[Spanky]

Quote:

Originally Posted by TromboneAl I'd feel the same way you do, but I'm a net gainer. Our house burned in the Oakland fire of 1991, and the insurance company gave us about $700,000.

That's a good deal. I cannot image it would cost $700K to rebuild a house.

Spanky

[Nords]

Quote:

Originally Posted by Spanky That's a good deal. I cannot image it would cost $700K to rebuild a house.

Sure, that sounds pretty reasonable now, but try to stick to that budget AFTER the hurricane rolls through. Both building materials and competent contractors will be at a premium, and you'll be required to make the new building compliant with all the new codes that have sprung up since the old building was finished. Then there's the cost of the design architect, the building plans, the community association's approval, the city & county permits... have I missed anyone?

To say nothing of your new insurance premiums.

If our house is ever destroyed, the first phone call I'm making is to an independent claims adjustor. I'll let THEM break the news to our insurance company.

[BUM]

Ummmmmmmmmmm FFEEEEEMMMMAAAAAAAAA. Now theres a government handout I can relate to. FEMA provides us with low cost flood insurance. We supplement with fire and wind coverage. The coastal winds can be frightening, but its the storm surge that historically has caused the damage and the claims. :P

Quote:

I cannot imagine it would cost $700K to rebuild a house.

Well, that $700,000 included $160,000 for personal belongings (replacement value) and more for other expenses. The amount for the house was indeed accurate -- the money went right from us to the contractor. Note that this was in 1992.

The funny thing was that the insurance adjuster wouldn't believe how little we'd spent for our stuff, and gave us more. He said things like "There's no way you could have spent only $17 for each of those dining room chairs, we'll give you $100 for each."

[soupcxan]

Oh JG, you invite schadenfreude like nobody's business. Let me guess - if you get sued and lose your assets, you'll just have the DW keep on working a few more years! Maybe you don't need insurance after all...

Quote:

Originally Posted by MRGALT2U I am thinking about cutting back the auto insurance to the minimum required by law.* I will need a new agent though as my current agent refuses to do it.

[haha]

Quote:

Originally Posted by soupcxan Oh JG, you invite schadenfreude like nobody's business. Let me guess - if you get sued and lose your assets, you'll just have the DW keep on working a few more years! Maybe you don't need insurance after all...

John Galt is not a person. He is an algorithm designed to annoy the greatest number of people the largest % of time, without precipitating visceral hostility.

Mikey

[MRGALT2U]

Quote:

Originally Posted by mikey John Galt is not a person. He is an algorithm designed to annoy the greatest number of people the largest % of time, without precipitating visceral hostility. Mikey

It's a gift man

JG

[MRGALT2U]

Quote:

Originally Posted by soupcxan Oh JG, you invite schadenfreude like nobody's business. Let me guess - if you get sued and lose your assets, you'll just have the DW keep on working a few more years! Maybe you don't need insurance after all...

I don't know this "Schadenfreude" person and don't think
I invited him/her? anywhere. Sounds Germanic. If they show up I hope
they bring beer.

JG

[Zipper]

If he shows up you'll wish he hadn't.

[cute fuzzy bunny]

A belated "gesundheit!"