Bread/Milk Alert. Storm of the century tonight!

[BleedinRed]

We had to sue our insurance company 5 years ago.   We had hail damage and every house in the neighborhood had damage.  There were insurance claims for every house.  

The insurance adjuster admitted the dents in the downspouts and broken window frames were caused by hail.  

The insurance company denied the claim saying there wasn't hail damage and that the shingles had been installed improperly.   

I ended up getting my roof replaced and still had to pay the deductible and the lawyers walked away with $60k.  

[SwahiliSteve]

I don't even know why we have insurance anymore because they're all crooks and fuck people over. File a claim? Oh fuck you we are dropping you now

[BleedinRed]

Insurance and credit are the two greatest modern day evils man has created.  

I'm 47 and in that 47 years I know of two houses that burned down.  One happened 30ish years ago and exploded due to a gas leak and the second flat burned down.  

Yet the insurance experts will tell you the odds of having a fire event is 1 in 4.   When looking at the data however, there were 1.1m fire related events out of 84m single family homes.   That is less than 2% of the housing population.  Total loss fire damage is much much lower than that.  

My contention is humans don't like risk at any level and the insurance companies know this.  They prey on our low tolerance. 

We paid our house off and I am strongly considering dropping home insurance. 

[DirkPiggler]

Insurance and credit are the two greatest modern day evils man has created. 

I'm 47 and in that 47 years I know of two houses that burned down.  One happened 30ish years ago and exploded due to a gas leak and the second flat burned down. 

Yet the insurance experts will tell you the odds of having a fire event is 1 in 4.   When looking at the data however, there were 1.1m fire related events out of 84m single family homes.   That is less than 2% of the housing population.  Total loss fire damage is much much lower than that. 

My contention is humans don't like risk at any level and the insurance companies know this.  They prey on our low tolerance.

We paid our house off and I am strongly considering dropping home insurance.

Think how much money we'd have if, instead of paying home, health and auto insurance premiums every year for the last 25-30 we'd invested that money ourselves. 

There would be more than enough to replace a roof or a totaled out car if necessary. 

As for health insurance, I'd love to see us go back to the days where you paid out of pocket for everything up to a reasonable deductible, and insurance covered it all beyond that.  It was basically just there in case you got cancer, had a heart attack or some other catastrophic illness that would otherwise bankrupt you.  The insurance industry sold the masses on the idea of a small copay saving the user money, when in reality it gave them far more control over how and when they spent your premiums. 

[Pighair]

Insurance and credit are the two greatest modern day evils man has created. 

I'm 47 and in that 47 years I know of two houses that burned down.  One happened 30ish years ago and exploded due to a gas leak and the second flat burned down. 

Yet the insurance experts will tell you the odds of having a fire event is 1 in 4.   When looking at the data however, there were 1.1m fire related events out of 84m single family homes.   That is less than 2% of the housing population.  Total loss fire damage is much much lower than that. 

My contention is humans don't like risk at any level and the insurance companies know this.  They prey on our low tolerance.

We paid our house off and I am strongly considering dropping home insurance.

The problem you will run into dropping your home owners insurance and "self insuring" is liability. You can't buy separate liability without the home owners. Or at least I couldn't find any when I looked at self insuring. Of course the insurance agent I spoke to was drunk when he was talking to me on the phone and rambled on for about 30 minutes answering my question until I finally hung up, so maybe there someone that would separately cover liability for the property without the actual home insurance?

[Pighair]

And as I recall my umbrella policy also required that I have the home owners insurance as well. But it's been a while.

[BleedinRed]

Umbrella will always require certain home owner/auto limits.  I dropped umbrella years ago.  Such a waste. Umbrella forced me to carry certain costly limits on my home and auto I found it not worth the price.  

The problem you will run into dropping your home owners insurance and "self insuring" is liability. You can't buy separate liability without the home owners. Or at least I couldn't find any when I looked at self insuring. Of course the insurance agent I spoke to was drunk when he was talking to me on the phone and rambled on for about 30 minutes answering my question until I finally hung up, so maybe there someone that would separately cover liability for the property without the actual home insurance?

I care very little about liability at my personal property.  Again, the insurance companies scare us into spending money on a statistical improbability.  I've never known anyone, nor heard anyone talk about someone they know, who was sued because an individual came onto their property and turned an ankle.  I'm not saying it doesn't happen.  At some point we have to ask, does the risk warrant the cost of where insurance is going?

[CardHog]

I care very little about liability at my personal property.  Again, the insurance companies scare us into spending money on a statistical improbability.  I've never known anyone, nor heard anyone talk about someone they know, who was sued because an individual came onto their property and turned an ankle.  I'm not saying it doesn't happen.  At some point we have to ask, does the risk warrant the cost of where insurance is going?

When you work in the industry, you realize it happens more often than not.  I've had some pretty brutal liability claims BUT if you're a responsible person,  you should be fine.   On the flipside, this is where a good umbrella comes into play.  I've got $1 million dollar limits on my UM/UIM limits.  I do not trust the public and their state minimums. If myself or anyone in my family is involved in an accident with one of these assholes,  I want to make sure I'm covered. 

[Son of Spam]

In the words of Remo, "Why take a chance.?"

https://youtube.com/shorts/JFCf7IhXAEI

[BleedinRed]

In the words of Remo, "Why take a chance.?"

https://youtube.com/shorts/JFCf7IhXAEI

I'll never knock anyone who takes this position.  The "whatifs" in life can't be ignored. 

We plan to semi-retire in the next year.  We will be 48. 

We are looking at the following yearly costs for insurance...

Home: $8,000/yr ($500 deductible)
Auto: $4,000/yr ($500 deductible)
Umbrella: $1,800/yr
Health: $25,000/yr ($7,000 deductible)

That's $39k per year in insurance.   You have to pay an additional out of pocket totaling $8k before insurance kicks in.  $47k is absurd. 

Of course, these costs go up anywhere from 25% cents to 55% year to year.  It's unsustainable. 

[SwahiliSteve]

I'll never knock anyone who takes this position.  The "whatifs" in life can't be ignored. 

We plan to semi-retire in the next year.  We will be 48. 

We are looking at the following yearly costs for insurance...

Home: $8,000/yr ($500 deductible)
Auto: $4,000/yr ($500 deductible)
Umbrella: $1,800/yr
Health: $25,000/yr ($7,000 deductible)

That's $39k per year in insurance.   You have to pay an additional out of pocket totaling $8k before insurance kicks in.  $47k is absurd. 

Of course, these costs go up anywhere from 25% cents to 55% year to year.  It's unsustainable. 

you've jinxed yourself now. The next storm is gonna total your roof

[Son of Spam]

Holy crap! Our umbrella is $308 a year. Homeowners insurance is around $2500 a year, city and county taxes are around $2100 a year, and autos are around $2400 a year total. Our health insurance runs about 7200 a year.

[BleedinRed]

you've jinxed yourself now. The next storm is gonna total your roof

We have been stuck for over a hour in a plane on the tarmac of Orlando's airport.  Storms are rolling through Houston.  Prayers for the house.  

[Son of Spam]

In today's world, the "what ifs" occur way more often. Everyone is looking to sue someone and get rich quick. It sucks, but that is the way of life now.

[SwahiliSteve]

We have been stuck for over a hour in a plane on the tarmac of Orlando's airport.  Storms are rolling through Houston.  Prayers for the house. 

yeah my partner is flying out of New Orleans around 3ish and hope he's not delayed. Looks rough through that entire corridor.

[buff2.0]

https://x.com/ReedTimmerUSA/status/2052203201286308083?s=20

[SwahiliSteve]

https://x.com/forallcurious/status/2054982640835395911?s=46&t=m_RTTyQoOXCKni9LyjoM3g

Weather porn

[arreferee]

https://x.com/forallcurious/status/2054982640835395911?s=46&t=m_RTTyQoOXCKni9LyjoM3g

Weather porn

Who runs that X page?  They need some assistance in grammar and writing. 

[BASS]

El nino will put a damper on Atlantic hurricane season.

[Italian Porn]

Insurance costs here are insane.  After Hurricane Rita in 2005, State Farm and most other large carriers stopped writing policies south of I-10.  My State Farm agent moved and couldn't get a State Farm policy on his own house.  Premiums have steadily climbed, to the point that realtors have told me the most common reason buyers walked away from closing on a house was the insurance quote. A lot of folks have gone with smaller companies, but I know several that got screwed after Hurricane Laura when their carrier just declared bankruptcy.  I know a couple who were insured by some company out of Florida.  House was basically destroyed, went back and forth with the insurer, hired private adjusters, and eventually had to sue the insurance company.  Took several years, ended up with a settlement that covered rebuilding their home, their costs to live in an apartment for 4 years, attorneys fees, as well as some punitive damages.  The insurance company had 30 days to cut them a check, but a day or two before the deadline, it became clear Hurricane Milton was going to hit Florida, so the company declared bankruptcy.  One of the local attorneys who's spent most of his career representing State Farm here had his home insured by them, and he had to sue them.