Insurance Companies?
Do any of the major Insurance companies like Nationwide(which we have our Home Owners and car Insurance with) or State Farm, Allstate or any of the major companies offer gun insurance.
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Your best insurance would be to make an investment in a top quality safe! Plus a nice alarm system for your home! Plus a covey of Pit Bulls![;)][;)]
Screw the insurance companies!0 -
quote:Insurance ;;;;;;;;;;;;
Buying insurance is like gambling.
The insurance company is betting you won't use it and they can keep all the premium you paid them.
You are gambling you may need it and get SOME of your premium back.
The insurance company is the "house" and always comes out ahead in the long run.
+1... the insurance industry is the larget group of scam artist today. I had a Ford escort that was worth $3500 and my insurance cost were $1200 per year for 3 years. The car was totalled and all the "company" would give me for it was $1700. So I gave these people $3600 so they could help me in my time of need with $1700. I would have been better off putting the money in the bank.0 -
quote:Your best insurance would be to make an investment in a top quality safe! Plus a nice alarm system for your home! Plus a covey of Pit Bulls!
None of which helps that much if you have a fire.0 -
Ins. = friggin crooks!!! Amost every time I've had to file a claim, they find some way of getting out of paying.
Had one agent tell me he was required by law to only sell me a policy for what my home was worth. I found a different co. and they tried to tell me same thing. He said "but your house is worth x amount". I said "i only want coverage for about 1/10 that" he said "but if something happens, we're gonna ask what part of your house did you have insured". He just wasn't getting it. I want x amount of coverage regardless of what part of the house is damaged, or even if a total loss!!!
Paid insurance on the old house for 12yrs (more than the house was worth actually), but when the roof got wind damage and i filed a claim, they came and looked and said "this house is too old to pay a claim on". It sure wasn't too old to collect 12yrs worth of premiums on. Friggin crooks i say.0 -
quote:Originally posted by spryor
Ins. = friggin crooks!!! Amost every time I've had to file a claim, they find some way of getting out of paying.
Of course, I've heard this same load of malarky for years. Forget the fact that I probably paid 98% or more of the claims that I was presented over a 15 year period.
But, you know best. What do I know? I was only in the biz for 15 years.0 -
quote:Originally posted by us55840
Insurance ;;;;;;;;;;;;
Buying insurance is like gambling.
The insurance company is betting you won't use it and they can keep all the premium you paid them.
You are gambling you may need it and get SOME of your premium back.
The insurance company is the "house" and always comes out ahead in the long run. [^][;)]
Buying insurance is not the least bit like gambling at all.
When you make a decision to gamble, and then follow through with that decision, you have then created a risk that did not exist before and is being totally borne by you as of that moment in time. The key point being that you have created a new risk that does not exist in the absence of the decision to gamble.
When you buy insurance, you are trading a larger risk that already exists for a small known loss to protect yourself from the possible results of that risk. The risk is there regardless of your decision about insurance, and you have not created additional risk by buying the insurance, but have spread the existing risk out among all of the others who have a similar risk. You are simply trading a guaranteed small annual loss in the premium for the opportunity to avoid a possible catastrophic loss if the known event should happen to you.
The insurance company is not betting that you will not have a loss since they absolutely know that there will be loses, they just don't know to which individuals or groups. They are covering the known level of losses to a large group of people and charge a service fee for being the agency which distributes the compensation for the risk to those that actually incur the loss.
The insurance companies engage in a process called actuarial science, which is essentially the study of statistical mathematical occurrence, in order to determine what the chances are that something will happen, and then base their rates upon the probability that the covered event will occur. The event will, or will not, occur to several of the insured, regardless of the choice of each of them to take insurance, but the question is, who absorbs the totality of the risk.
The Amish have a less formal plan where they simply have an understanding that the group will self insure and will cover the losses of any member who has something like a house or barn fire by replacing what is lost, but the risk is still there either way.
The key point is that the risk already exists for every member of the group and you are just making a decision to share the losses that occur each year rather than take the chance that it will never happen to you. The chance of you having a wreck exists, the only question is whether you want to take all of the risk yourself, or share it with thousands of others with a similar risk.0 -
quote:Originally posted by dlrjj
quote:Originally posted by us55840
Insurance ;;;;;;;;;;;;
Buying insurance is like gambling.
The insurance company is betting you won't use it and they can keep all the premium you paid them.
You are gambling you may need it and get SOME of your premium back.
The insurance company is the "house" and always comes out ahead in the long run. [^][;)]
Buying insurance is not the least bit like gambling at all.
When you make a decision to gamble, and then follow through with that decision, you have then created a risk that did not exist before and is being totally borne by you as of that moment in time. The key point being that you have created a new risk that does not exist in the absence of the decision to gamble.
When you buy insurance, you are trading a larger risk that already exists for a small known loss to protect yourself from the possible results of that risk. The risk is there regardless of your decision about insurance, and you have not created additional risk by buying the insurance, but have spread the existing risk out among all of the others who have a similar risk. You are simply trading a guaranteed small annual loss in the premium for the opportunity to avoid a possible catastrophic loss if the known event should happen to you.
The insurance company is not betting that you will not have a loss since they absolutely know that there will be loses, they just don't know to which individuals or groups. They are covering the known level of losses to a large group of people and charge a service fee for being the agency which distributes the compensation for the risk to those that actually incur the loss.
The insurance companies engage in a process called actuarial science, which is essentially the study of statistical mathematical occurrence, in order to determine what the chances are the something will happen, and then base their rates upon the probability that the covered event will occur. The event will, or will not, occur to several of the insured, regardless of the choice of each of them to take insurance, but the question is, who absorbs the totality of the risk.
The Amish have a less formal plan where they simply have an understanding that the group will self insure and will cover the losses of any member who has something like a house or barn fire by replacing what is lost, but the risk is still there either way.
The key point is that the risk already exists for every member of the group and you are just making a decision to share the losses that occur each year rather than take the chance that it will never happen to you. The chance of you having a wreck exists, the only question is whether you want to take all of the risk yourself, or share it with thousands of others with a similar risk.
Well said.0 -
quote:Originally posted by eboydell
I know that State Farm and the NRA both offer coverage. My State Farm agent actually told me to think twice about taking out coverage because...GET THIS...you must itemize all of your guns with pictures. He said that you never know who sees those pictures and tells their "friends". Next thing you know, someone robs you of your guns. That kept me from getting insurance. They actually had two cases of this type of inside jobs.
I think this may depend on the agent and what state U are in.
For State Farm in Texas - $2500 worth of guns are covered in the standard home owners policy here. Then, U can pay extra to extend that to $5000. After $5k, U must cover them individually.
Also, I was told by my State Farm agent just to keep the serial #s, and the manual to each to prove ownership (along with the receipt). All my manuals are in my safe deposit box.0 -
Nationwide offers gun coverage in a home owners policy as another policy on top of it. Its really not that cheap though. 0 -
As Spaniel said. Insurance is a means of SHARING risk among the policyholders- Of 100 houses insured, how many burn down each year? Refuse to pay a valid claim for no good reason, you are gonna deal with the state insurance commission. Most homeowners policies will provide SOME coverage for firearms- question is- how much coverage did you buy? I have $5K thru my homeowners, and rest thru NRA. Check with your insurance agent/company to see what you have available in YOUR state. DO maintain something to show you DID in fact own the item you say has been stolen- like receipts, pictures, etc. It is up to YOU to show you DID own it. Don't think that is unreasonable. 0 -
quote:Originally posted by us55840
quote:Originally posted by dlrjj
quote:Originally posted by us55840
Insurance ;;;;;;;;;;;;
Buying insurance is like gambling.
The insurance company is betting you won't use it and they can keep all the premium you paid them.
You are gambling you may need it and get SOME of your premium back.
The insurance company is the "house" and always comes out ahead in the long run. [^][;)]
Buying insurance is not the least bit like gambling at all.
When you make a decision to gamble, and then follow through with that decision, you have then created a risk that did not exist before and is being totally borne by you as of that moment in time. The key point being that you have created a new risk that does not exist in the absence of the decision to gamble.
When you buy insurance, you are trading a larger risk that already exists for a small known loss to protect yourself from the possible results of that risk. The risk is there regardless of your decision about insurance, and you have not created additional risk by buying the insurance, but have spread the existing risk out among all of the others who have a similar risk. You are simply trading a guaranteed small annual loss in the premium for the opportunity to avoid a possible catastrophic loss if the known event should happen to you.
The insurance company is not betting that you will not have a loss since they absolutely know that there will be loses, they just don't know to which individuals or groups. They are covering the known level of losses to a large group of people and charge a service fee for being the agency which distributes the compensation for the risk to those that actually incur the loss.
The insurance companies engage in a process called actuarial science, which is essentially the study of statistical mathematical occurrence, in order to determine what the chances are that something will happen, and then base their rates upon the probability that the covered event will occur. The event will, or will not, occur to several of the insured, regardless of the choice of each of them to take insurance, but the question is, who absorbs the totality of the risk.
The Amish have a less formal plan where they simply have an understanding that the group will self insure and will cover the losses of any member who has something like a house or barn fire by replacing what is lost, but the risk is still there either way.
The key point is that the risk already exists for every member of the group and you are just making a decision to share the losses that occur each year rather than take the chance that it will never happen to you. The chance of you having a wreck exists, the only question is whether you want to take all of the risk yourself, or share it with thousands of others with a similar risk.
Would one be incorrect in ASSUMING you sell or work for an insurance company?
You would be absolutely one hundred percent dead wrong. I have absolutely no interest in working for, or even owning stock in, an insurance company, but I have a pretty good understanding of how the law of large numbers and actuarial tables work. Degrees in both Finance and Economics will do that for you.
If you want to get an idea of the methodology of establishing rates for something like life insurance, just check out a set of CSO tables and see the probabilities of dying at any given age. You can then simply multiply that decimal times $1,000 and you have the death risk cost per thousand that the insurance company incurs in order to insure you. If you figure the number of $1,000 units, then add overhead and commissions, you are getting close to the premium. Term and Whole Life policies will be calculated a bit differently, but the basics are there for the determination of the premium.
Cars, housing, boats, etc. all work exactly the same way and are simply a numerical calculation of probability given a specific set of conditions.
It's really simple, extremely accurate, and widely known and available to anyone who wants to take the time to look it up.[:)]0 -
quote:Originally posted by spanielsells
quote:Originally posted by spryor
Ins. = friggin crooks!!! Amost every time I've had to file a claim, they find some way of getting out of paying.
Of course, I've heard this same load of malarky for years. Forget the fact that I probably paid 98% or more of the claims that I was presented over a 15 year period.
But, you know best. What do I know? I was only in the biz for 15 years.
Was just based on my personal experience, but what do i know..?lol
I can give more examples if need be.0 -
quote:Originally posted by spryor
quote:Originally posted by spanielsells
quote:Originally posted by spryor
Ins. = friggin crooks!!! Amost every time I've had to file a claim, they find some way of getting out of paying.
Of course, I've heard this same load of malarky for years. Forget the fact that I probably paid 98% or more of the claims that I was presented over a 15 year period.
But, you know best. What do I know? I was only in the biz for 15 years.
Was just based on my personal experience, but what do i know..?lol
I can give more examples if need be.
You can give all the examples you want. Unless it is personal experience, you have no way of knowing if the "stories" are true or not.
I'm not in the insurance biz anymore, haven't been for two years. I'm not beholden to them and I don't even like them. But, I'm here to tell you that insurance companies don't look for excuses not to pay and don't go out of their way to create trouble -- it is bad for business and opens themselves up to huge, multimillion dollar bad-faith lawsuits.
I personally hated denying claims. They were more trouble than they were worth. If I could pay for something under the policy, I paid it. If there was no coverage, then there wasn't and I didn't pay. But, I always cited in the denial letters why a claim was denied and included the policy language. If you don't do that, you'll get sued for bad faith, and that's in every jurisidiction around the country.0 -
quote:Insurance Companies
Suck0 -
quote:Originally posted by mateomasfeo
quote:Insurance Companies
Suck
Amen!!0
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