Insurance joke

[treeman82]

Ok, so I am talking with a friend of mine a couple weeks ago. I believe he has been dealing with The Hartford for SEVERAL years now. Anywho, he told me that they just jacked up his general liability policy by 20%. So he called the agent to find out what was going on. They informed him that because there are so many people out there who are working without insurance, everybody else in the area has to pay an additional 20% on their policies. That makes a whole lot of sense to me.

 

[DDM]

Geeeeees Yeah I see What is there now an unisured Others Clause?

 

[JonnyHart]

That makes absolutely no sense. Is his buisiness a tree service?

 

[Dadatwins]

Welcome to the wonderful world of No-fault insurance. The folks that actually have policies and pay for the insurance pay a lot more, and those that do not have policies or pay anything just wait for an accident and collect off the paying policies. What a great system.

 

[tnttreeman]

I've never had a claim where my company had to pay out, yet it's gone up every year. I pay over 4 times the amount I paying originally. Last year, my rate went up 30%!! I then shopped around and found I was getting far better of a deal than anywhere else offered. Still, my policy is about to renew and I just got a letter informing me that there will be an increase this year as well. For what?!?! I'm half tempted to have a big one happen just to get my money's worth I could understand if I had any claims, but they've never had to pay out and they still put the screws to me.

 

[Ekka]

Man, you guys a ripped off big time.

About time to join forces and use a united voice to get some industrial reform.

Like I said in another post; over here the Govt runs the WC insurance and has a non profit thing. They collect enough premium to pay expenses and claims ... that's it. You can't buy shares in it and it's not a company etc.

It's clear you are insured by private companies, who want big profits to satisfy shareholders and pay executives massive salaries. The rates you guys are quoting are ridiculous ... it would be killing your business.

Time for the system to change.

 

[glens]

I think they're talking about liability insurance.

 

[Koa Man]

My liability insurance company said the rate increases were due to the events of 9/11. That is the same excuse the airline gave me to explain why I was no longer getting a hot meal in first class on a 2 hour flight. I also have had no claims for the over 10 years I have been with them. Hard to claim most stuff when they stick you with a $2500 deductible. Yet, I have not been able to find cheaper insurance. I will search more as renewal comes up in October. They also had added a terrorism rider to my policy for $250 until I complained about it. What terrorist group is going to wipe out a 3 man tree company.....that should really affect the public big time.

 

[treeman82]

TNT- What really sucks about insurance companies is that as soon as you file a claim, they will pay it out, but afterwards you get dropped and your rates go up. It's a truly F'd up system.

 

[tinman44]

i'm moving to australia, better beer anyways

 

[glens]

I despise insurance companies almost as much as banks, and both of them together almost as much as Microsoft.  The insurance companies get government subsidy by legislation that requires their service, and the banks get government subsidy by virtue of "income" tax deductions if you're carrying a note on your home, etc, and again (at least here in Indiana) a substantial deduction on your property taxes if the property where you live is mortgaged.

The insurance companies <i>will not lose money</i> in the long run.&nbsp; If their gamble goes south they just raise their rates to cover it and then some, and you cannot merely thumb your nose at them in general or you run afoul of the law...&nbsp; And if you try to get creative with a claim you run into yet more legislation subsidizing them.

 

[tnttreeman]

I love when a customer calls and tells me they need an estimate for the insurance company. Time for me to recoup some of my hard earned money!!!

 

[John Paul Sanborn]

I love when a customer calls and tells me they need an estimate for the insurance company. Time for me to recoup some of my hard earned money!!!

I only do it for a $65 charge which is applicable to any work don on a signed contract.

To many times I've done the bid, and they do it themselves to pocket the money.

 

[tnttreeman]

Very rarely have I had that happen, though it has once or twice.

 

[newb]

I'm paying $701 a year for mine. Its called a climbers insurance. What are some of your prices?

 

[Koa Man]

Mine is called general liability insurance for $1 mil., $2500 deductible. $4000 a year.

 

[glens]

Hell, that's only $2/hour as long as you don't <i>use</i> it...

 

[hobby climber]

- $1000 premium, $1000 deductible for $1 million liability. So long as its just me alone(no employees),and I don't make over $10,000.@ year! For $20 more a month, I can get $2 million liability with the same terms. Part time biz/hobby only!

 

[Ekka]

I pay $1500 Australian a year for $5million public liability ... but for govt contracts and large commercial you need minimum $10million public liability.

 

[geofore]

Insurance

The insurance companies play another little game or should I say make decisions based on statistics. If your credit rating is bad, your rates are increased because the statistics show that people with a low credit rating are more accident prone. I kid you not! I have a friend who's insurance was hiked last month because his credit rating changed. The gas company put him on a budget plan rather than read his meter every month and he didn't pay the "BUDGET" amount which was 4x his normal gas bill. He did pay for the gas he used. The gas company turn him in as delinquent on his gas bill and his insurance company raised his rates because it showed up as a bad credit score. If you think it can't happen to you think again. My wife and I are on the gas company "BUDGET" plan and have been overcharged for natrual gas by 1k-3k every year for the last few years. The gas company won't send a check for the over charge but instead will give a credit to the account till the overcharge is used up. In other words they keep the money till you use enough gas to cover the overcharge they made and if you don't call the gas company on the overcharge, they don't credit your account automatically. They give you a bad credit rating for holding out till the overcharge money is used up because you didn't call them and tell them they overcharged you and you aren't paying them anymore money until the overcharge is used up. I've been there. Any flaw in your credit rating is enough of an excuse for the insurance company to raise your rates. EVEN if the credit rating was not right. Will the insurance company lower your rate if you can prove your credit rating was incorrect? Not without a fight and don't expect they will refund the overcharge for insurance coverage based on the bad information they got on your credit rating to charge you more premiums. They will tell you it's your fault for not keeping an eye on your credit rating and fixxing it before they got the bad information. Then they will tell you it's the credit rating company's fault. They pass the buck. Do I think the insurance guy was lying when he told me this is why the insurance company raised the rates? No, He said they do it all the time and I'm one of the guys that felt the pinch.