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Insurance companies have to be the biggest scams running

Posted on 7/12/23 at 9:54 am
Posted by nicholastiger
Member since Jan 2004
42549 posts
Posted on 7/12/23 at 9:54 am
They take your money for decades but when the going gets tough they back out and do everything they can to avoid assisting financially for the coverage you have been paying years for!

Another property insurer is dropping coverage in Florida.

Farmers Insurance will stop writing new business and not renew its existing “Farmers-branded” automobile, home and umbrella policies in the Sunshine State, the company said Tuesday.
Posted by bad93ex
Member since Sep 2018
27170 posts
Posted on 7/12/23 at 9:54 am to
Government mandated gambling
Posted by Flynn2Byrd
Mile High City
Member since Feb 2020
584 posts
Posted on 7/12/23 at 9:55 am to
insurance pooling is why... there has to be another way to rate.
Posted by Salmon
On the trails
Member since Feb 2008
83558 posts
Posted on 7/12/23 at 9:57 am to
I'm feeling this right now

Posted by Porter Osborne Jr
Member since Sep 2012
39997 posts
Posted on 7/12/23 at 9:58 am to
quote:

insurance pooling


What's this?
Posted by Henry Jones Jr
Member since Jun 2011
68503 posts
Posted on 7/12/23 at 10:04 am to
The only people who thing insurance is a scam are the ones that have never had to actually use their policy. I’m sure the numerous widows who got million dollar life insurance checks when their loved ones died unexpectedly disagree with you.
Posted by boddagetta
Moulton
Member since Mar 2011
9999 posts
Posted on 7/12/23 at 10:06 am to
Found the insurance salesman.
Posted by IcedOutBart
Houston
Member since Jul 2017
161 posts
Posted on 7/12/23 at 10:07 am to
It’s a business to make money. Why would you subject yourself to guaranteed losses? Insurance companies are shite but contractors/lawyers are just as much to blame for inflating the price of everything and taking advantage of insurance companies.
Posted by i am dan
NC
Member since Aug 2011
24729 posts
Posted on 7/12/23 at 10:14 am to
I just paid over $27,000 for a few kitchen cabinets.
That's just the cost of the cabinets. Not even installation.

You say insurance is the problem?

Same boat as health insurance. People bitch about insurance when the cost of an emergency room visit is $2,000 minimum.

It's all screwed up. I won't pretend to think I have any answers.
This post was edited on 7/12/23 at 10:18 am
Posted by OysterPoBoy
City of St. George
Member since Jul 2013
35087 posts
Posted on 7/12/23 at 10:17 am to
They make money by not paying. It’s genius.
Posted by teke184
Zachary, LA
Member since Jan 2007
95362 posts
Posted on 7/12/23 at 10:19 am to
quote:

Farmers Insurance will stop writing new business and not renew its existing “Farmers-branded” automobile, home and umbrella policies in the Sunshine State, the company said Tuesday.


Without Florida Man as a client, where will they get the stories for all their commercials?
Posted by Athanatos
Baton Rouge
Member since Sep 2010
8141 posts
Posted on 7/12/23 at 10:21 am to
quote:

$2,000 minimum.


Which is horeshit to see a doctor for three minutes and a nurse for two minutes. Then they upcode everything to raise the level of the visit. If you get a bunch of incessant radiology you are looking at $10k easy. Large, non-profit hospital systems and private insurers are a scourge on our medical system that charge 1000% more than a country doctor for the same level of efficacy for low level care. (Which is exactly why medical lobbyists have gone out of their way to kill small practices).
Posted by Salmon
On the trails
Member since Feb 2008
83558 posts
Posted on 7/12/23 at 10:21 am to
quote:

I just paid over $27,000 for a few kitchen cabinets.
That's just the cost of the cabinets. Not even installation.

You say insurance is the problem?


Yet my insurance is trying to tell me that it only costs $1,800 to rip out, and replace, tape and float sheetrock for my master bedroom (walls and ceilings).

Posted by JetsetNuggs
Member since Jun 2014
13910 posts
Posted on 7/12/23 at 10:26 am to
quote:

The only people who thing insurance is a scam are the ones that have never had to actually use their policy


The insurance policy for my business' building was supposed to pay out around 150K for the damage done by Ida

They decided 40K was good enough. I hope they enjoy the dozens of lawsuits they're fighting
Posted by Henry Jones Jr
Member since Jun 2011
68503 posts
Posted on 7/12/23 at 10:33 am to
quote:

The insurance policy for my business' building was supposed to pay out around 150K for the damage done by Ida They decided 40K was good enough. I hope they enjoy the dozens of lawsuits they're fighting
Don’t go cheap on your insurance and you won’t have this issue. So many people will just buy the minimum from shady insurance companies because they are cheap and then they are shocked when they don’t get covered properly when they need it
This post was edited on 7/12/23 at 10:34 am
Posted by JetsetNuggs
Member since Jun 2014
13910 posts
Posted on 7/12/23 at 10:39 am to
quote:

Don’t go cheap on your insurance and you won’t have this issue. So many people will just buy the minimum from shady insurance companies because they are cheap and then they are shocked when they don’t get covered properly when they need it


That's cool and all but we didn't go cheap. We have like 6 different policies on the various parts of the business. Multiple independent adjusters sided with us.

Insurance companies suck dick and like another has stated, it's obvious you're a salesman

Posted by DarkDrifter
Louisiana
Member since Aug 2011
2883 posts
Posted on 7/12/23 at 10:41 am to
Yay, another one of these threads full of angry nimrods that don't know a thing about insurance...

quote:

They take your money for decades but when the going gets tough they back out and do everything they can to avoid assisting financially for the coverage you have been paying years for!


If you owned a business in an area that was not profitable and costing you more money than you take in to operate in... You'd shut it down and focus on somewhere else as well...

Unfortunately the Gulf coast area getting pelleted with something like 8 Hurricane/TS since 2020 makes it hard for Insurers to maintain business in these areas.. It's the unfortunate reality of living in these areas..
Posted by DownshiftAndFloorIt
Here
Member since Jan 2011
66763 posts
Posted on 7/12/23 at 10:41 am to
It doesn't have shite to do with going cheap. State farm doesnt have a colossal marketing budget because they just pay out when asked to.
Posted by REB BEER
Laffy Yet
Member since Dec 2010
16196 posts
Posted on 7/12/23 at 10:43 am to
quote:

Salmon
quote:

I'm feeling this right now


How's the house coming?
Posted by Saskwatch
Member since Feb 2016
16553 posts
Posted on 7/12/23 at 10:43 am to
quote:

Same boat as health insurance. People bitch about insurance when the cost of an emergency room visit is $2,000 minimum.


Health costs are beyond predatory. The billing allowances should be illegal. They compound and duplicate charge every little thing.
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