Hardcore Posted July 4, 2023 Share Posted July 4, 2023 I learned something new today. I added home insurance and forest insurance to my farm insurance a couple of weeks ago. I didn't receive any confirmation, and the premium remained the same. It turned out they added them without noting it anywhere and without raising the premium! I have no idea how they calculate it all... It's as if they feel like giving it away for free. How is it for you Americans? I know that insurance companies can be tough when it comes to health insurance, for example. Link to comment Share on other sites More sharing options...
James Rademaker Posted July 4, 2023 Share Posted July 4, 2023 In the USA nothing is free. You got a huge birthday present. Jim LSP_K2 and kalashnikov-47 2 Link to comment Share on other sites More sharing options...
ScottsGT Posted July 4, 2023 Share Posted July 4, 2023 Out of everyone I have known to have a catastrophic claim, it has never gone good. Always a fight. Hell, just ask Paul Fisher. Son has a friend with a couple of rental homes in Florida. He made a claim, not a very big one and the adjuster listed it as a catastrophic loss/claim. It caused him to get blacklisted from buying insurance from anyone in Florida. He beat them at their own game. Formed an LLC for his rental business and got insurance under the business. Which reminds me, I need to reach out to my homeowners and make some changes increasing coverage. My rebuild estimate is way too low. Car insurance here varies state by state and honestly it has been used as political leverage for years. We had a bad run of claims about 9-10 years ago. None were any fault of our own. I got in the middle of a 5 car pileup on the interstate driving to work. Woman that caused the whole wreck was uninsured. Mine had to pay for my totaled car. Bad hail storm hit at our house in May. $9000 damage to my wife’s 6 month old new car. We were dropped and had to shop around. Here in the states everyone is followed with a “permanent record” for 7 or 9 years on a CLUE report. Comprehensive Loss Underwriting Exchange Its like a dark web insurance companies use to keep track of everyone using insurance. Make a claim? Boom. Entered on your CLUE report. Last month my wife wasn’t paying attention and bumped into a pole in a gas station parking lot and damaged the front bumper cover on her car. I can order one prepainted and shipped to my home for under $600 and install it myself. Or make a claim, pay a $500 deductible and let it sit in the shop a week or two and get a ding on my CLUE report. kalashnikov-47 and LSP_K2 2 Link to comment Share on other sites More sharing options...
Rick Griewski Posted July 4, 2023 Share Posted July 4, 2023 You better verify, verify and ask for a copy of your amended policy! JeepsGunsTanks 1 Link to comment Share on other sites More sharing options...
LSP_Ray Posted July 4, 2023 Share Posted July 4, 2023 Insurance is a pain. I had water damage to a heavy storm in AZ and it flooded half the house. Insurance denied the claim because the flood waters hit the ground first? It was really due to the neighbor's drainage failing and backing up against our house. The neighbor said it was our fault because our house was built too low. Curious though: what is Forest Insurance? Link to comment Share on other sites More sharing options...
Hardcore Posted July 6, 2023 Author Share Posted July 6, 2023 (edited) On 7/4/2023 at 9:31 PM, LSP_Ray said: Insurance is a pain. I had water damage to a heavy storm in AZ and it flooded half the house. Insurance denied the claim because the flood waters hit the ground first? It was really due to the neighbor's drainage failing and backing up against our house. The neighbor said it was our fault because our house was built too low. Curious though: what is Forest Insurance? Lots of trees here in Sweden and forestry is a big business. Drought, forest fires, stormy weather, bugs, disease can cause damage and losses for hundreds of millions. The tiny spruce bark beetle is a big culprit, and the reason I chose to plant pine this summer. This spring has been very dry and that is perfect conditions for the but to breed. The trees can't produce enough resin to kill the larva in their tunnels. Pine is immune to that insect. Edited July 6, 2023 by Hardcore Link to comment Share on other sites More sharing options...
Hardcore Posted July 6, 2023 Author Share Posted July 6, 2023 On 7/4/2023 at 1:56 PM, ScottsGT said: Out of everyone I have known to have a catastrophic claim, it has never gone good. Always a fight. Hell, just ask Paul Fisher. Son has a friend with a couple of rental homes in Florida. He made a claim, not a very big one and the adjuster listed it as a catastrophic loss/claim. It caused him to get blacklisted from buying insurance from anyone in Florida. He beat them at their own game. Formed an LLC for his rental business and got insurance under the business. Which reminds me, I need to reach out to my homeowners and make some changes increasing coverage. My rebuild estimate is way too low. Car insurance here varies state by state and honestly it has been used as political leverage for years. We had a bad run of claims about 9-10 years ago. None were any fault of our own. I got in the middle of a 5 car pileup on the interstate driving to work. Woman that caused the whole wreck was uninsured. Mine had to pay for my totaled car. Bad hail storm hit at our house in May. $9000 damage to my wife’s 6 month old new car. We were dropped and had to shop around. In Sweden, car owners are legally obligated to have car insurance. If, for any reason, a car owner doesn't have insurance, they are required to pay a fee to the Car Insurance Association. This association consists of all the insurance companies that sell car insurance. In the specific scenario mentioned, where the woman involved was uninsured, the Car Insurance Association would have intervened and covered the costs instead of the individual's own insurer. I got only partial insurance. It will cover damage done to another car, should an accident happen. My car is too old to be worth full insurance. Link to comment Share on other sites More sharing options...
ScottsGT Posted July 6, 2023 Share Posted July 6, 2023 (edited) Here in SC we have three levels. Full coverage. Covers my car and/or anyone else if I’m at fault. You can pick your coverage $$$$ amounts. (Required by lenders if car is financed) Comprhensive and Liability. Covers your car from storm damage, windshield damages, etc. No coverage if I run into something. And Liability. Doesn’t cover me, cover who I ran into. My son is stationed out in Colorado. They have a “no fault” system. Someone hits you, your insurance covers your car only. Kind of sucks because some tweaker driving high doesn’t pay the price for damaging your property. Edited July 6, 2023 by ScottsGT Link to comment Share on other sites More sharing options...
Hardcore Posted July 7, 2023 Author Share Posted July 7, 2023 9 hours ago, ScottsGT said: Here in SC we have three levels. Full coverage. Covers my car and/or anyone else if I’m at fault. You can pick your coverage $$$$ amounts. (Required by lenders if car is financed) Comprhensive and Liability. Covers your car from storm damage, windshield damages, etc. No coverage if I run into something. And Liability. Doesn’t cover me, cover who I ran into. My son is stationed out in Colorado. They have a “no fault” system. Someone hits you, your insurance covers your car only. Kind of sucks because some tweaker driving high doesn’t pay the price for damaging your property. The cost of my liability insurance, for my 2007 Toyota Yaris, is ≈135$ Link to comment Share on other sites More sharing options...
ScottsGT Posted July 7, 2023 Share Posted July 7, 2023 (edited) 6 hours ago, Hardcore said: The cost of my liability insurance, for my 2007 Toyota Yaris, is ≈135$ Month or yearly? Were paying just under $400 a month for full coverage on my 2015 Mustang GT, wife’s 2021 Honda Pilot and comprehensive and liability on my 1990 F-250 truck. No kids at home anymore, clean driving record and no claims since the last ones 8 or 9 years ago. No kidding, when we moved out of the very busy suburbs and out into the countryside our rates went UP. After moving out in the country I see why. Deer, drivers not paying attention and constantly crossing the center line, everyone doing 20 over the limit while crossing the center line and then the old geezers driving 10 under making everyone impatient and passing on yellow lines. Edited July 7, 2023 by ScottsGT Link to comment Share on other sites More sharing options...
Hardcore Posted July 7, 2023 Author Share Posted July 7, 2023 3 hours ago, ScottsGT said: Month or yearly? Were paying just under $400 a month for full coverage on my 2015 Mustang GT, wife’s 2021 Honda Pilot and comprehensive and liability on my 1990 F-250 truck. No kids at home anymore, clean driving record and no claims since the last ones 8 or 9 years ago. No kidding, when we moved out of the very busy suburbs and out into the countryside our rates went UP. After moving out in the country I see why. Deer, drivers not paying attention and constantly crossing the center line, everyone doing 20 over the limit while crossing the center line and then the old geezers driving 10 under making everyone impatient and passing on yellow lines. Yearly. Full was about four times that cost and the value of the car is about 2800$ I got the advice to change to liability only which makes sense. A visitor who owns a 2017 Volvo V60 pays $740 annually for full coverage. The visitor shared an incident where they had previously crashed their car (a V40?) . The insurance company deemed the repair costs too expensive and offered a payout equal to the value of the vehicle, which was $3,500, in exchange for the car. However, the car owner declined this solution and found a workshop that could fix the car at a higher price but still lower than the insurer's estimated cost for the job. Despite the workshop not being on the insurer's approved list, the car owner managed to have the repair accepted. An inspector was sent by the insurer to assess the garage, and the matter was resolved. It is worth noting that some insurance claims, such as lost bicycles, are often settled without the need for verification of loss, according to what I have been told. Link to comment Share on other sites More sharing options...
John1 Posted July 8, 2023 Share Posted July 8, 2023 A few years back, after a near miss on a potential lawsuit, we purchased a $1M umbrella policy. Didn’t add a lot to our homeowners’ premium and I sleep much better at night knowing I’ve got the extra protection. Link to comment Share on other sites More sharing options...
Charlie Posted July 8, 2023 Share Posted July 8, 2023 Health insurance - If you don't get sick, it covers everything. Auto insurance - If you don't get into an accident, it covers everything. Liability insurance - If you don't do anything, it covers everything. Homeowners insurance - If nothing lands on your home, it covers everything. paul fisher, ScottsGT, TankBuster and 2 others 3 2 Link to comment Share on other sites More sharing options...
Hawkwrench Posted July 8, 2023 Share Posted July 8, 2023 They take your money but don't want to give out theirs!!! Tim TankBuster 1 Link to comment Share on other sites More sharing options...
Hardcore Posted July 8, 2023 Author Share Posted July 8, 2023 19 hours ago, John1 said: A few years back, after a near miss on a potential lawsuit, we purchased a $1M umbrella policy. Didn’t add a lot to our homeowners’ premium and I sleep much better at night knowing I’ve got the extra protection. Yes, lawyers, they are rarely involved here in compensation claims. In fact they are quite rare in the Swedish society. I figure the insurance system evolved differently because of this. Link to comment Share on other sites More sharing options...
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