Speaking of insurance.....

[Lt CHEG]

As an aside I'd add this about mandatory car insurance. I am somewhere between libertarian and conservaive in my beliefs. I'm not a fan of bog government and I like to keep the government out of our lives as much as possible. By the same token I also realize that people aren't perfect and a certain amount of law and order is necessary and I also think it is sometime important to involve ourselves in affairs beyond our borders when we have interests now or in the future to protect. So with respect to insurance my position is somewhat in conflict with my otherwise fairly libertarian leanings. I would have no problem with the elimination of mandatory car insruance as long as some type of debtor's prison was introduced as a way to ensure that people took responsibility for their own actions. Now this might seem kind of extreme, and really my sentiment is largely tongue in cheek but the reality is that without knowing that everyone is insured there is no way to be sure that you won't get left holding the bag when someone wrecks something of yours through no fault of your own. If insurance wasn't mandatory someone without insurance could very well end up being at fault for an accident but with no way to pay the damages. With nothing to collect from that person, it leaves an innocent victim holding the bag. If someone knew that they if they tried to get out of their responsibilities that they would end up behind bars, I think we'd have a far more polite society.

 

[Dill]

Excellent post from PA.
I've only been an agent for 7 years, but I work with a family who have been running the largest farm agency in the state for 25. We have an excellent reputation and work our tails off to stay that way. I can't begin to tell you how many checks every paid out of our own account because someone lost a ring or had fender bender that wasn't covered.
The other thing is not only do we have to be licensed to work in each state but we have to take continuing education. I have a cousin who writes very large mortgages with zero regulation or education.
Yes insurance is confusing, but it really comes back to trust. Find an agent who will work with you and understand what your doing. And be upfront with what your doing. Yes it might not be cheap. But I know that I try and keep the cost down as much as possible. Yes we get paid commission but its better for me to make less up front and have a satisfied customer for years.

As for the lack of mandatory insurance. Its just part of what you get living in the "Live Free or Die" State.

 

[mjarrels]

Saw a story on 60 minutes a few years ago and they intervied a SF agent. He said he would be run out of town if the folks knew how much money he made.

mark

 

[Storm56]

Saw a story on 60 minutes a few years ago and they intervied a SF agent. He said he would be run out of town if the folks knew how much money he made.

mark

He is obviously a successful businesman. I guarantee you he did not gain such success by selling a few policies. He worked his butt off, as did I. People do look at what I have accomplished and perhaps there is an awe factor. Where were their eyes when I was working 70 hours a week? It took me years to build up the business I have.

In this country everyone has the opportunity to do well. The path anyone chooses is up to them. But darn it don't hate others because they made choices and worked hard to gain success.

 

[PA hayseed]

In this country everyone has the opportunity to do well. The path anyone chooses is up to them. But darn it don't hate others because they made choices and worked hard to gain success.

I do not hate insurance agents, they are just making a living. I hate the fact that the government dictates that I must give my money to one of the insurance companies. If I don't want to, then I am not allowed to drive. Get pulled over and the first words out of the officer's mouth are likely license, registration, and insurance. I have been pulled over many times, I must look suspicious or something. Why does PA mandate insurance and some others don't - lobbyists (to be read political contributions).

Of course you can say I am a conspiracy theorist, but then again, I submit to you that when PA went to allow motorcyclists to ride without helmets, who fought that bill? Insurance companies. Every year insurance companies in PA lobby the government to allow more deer to be killed by hunters - why? To stop making payments on vehicles that hit deer.

The insurance company determines what I have to pay, not me. Sure, I can shop around, but all of them ask where you live, what you do, how many miles you drive, etc, etc. Once they are aware that you live in PA, then they go by the laws of the state in determining insurance coverage. How do I know? Because I got tired of the state, and eventually found an insurance agent in another state. They don't even have an office in my state. Been in several accidents, deer, hit by another motorist, hit a patch of ice, and they have been there everytime.

Having been through everymajor insurance carrier, state farm, progressive, geico, etc, Allstate, they are all the same.

For proof of insurance company recklessness, I submit to you the name AIG.

I am not against the agents, I am against the regulation that says I have to buy this product. It is a product like any other, and I should be able to choose if I want it or not.

I hope you do well in your business. I hope that your hard work is amply rewarded.

 

[PA hayseed]

Part of your problems that I read about here is your expecting companies that only deal with home and auto coverage to know about dealing with tractor and farm coverage. Go talk to a farm agent. Its what we do. You don't buy bananas at a hardware store do ya?

I hear you, I had my homeowners people research for someone who handled house moves, they had no idea - too niche I guess. I even called around to some bigger and smaller outfits just looking for gap insurance to cover the the move - no luck (my mover had his own insurance, which covered just about everything, but I figured why take a chance having no place to live and waiting for someone to write a check). My homeowners insurance people gave me a rundown on what they would and wouldn't cover during the move. mainly nothing until it was on a foundation and inspected again. I put fencing up and kept people out, they were as curious as monkeys. Insurance company was really clear on people not being on my property.

If the hardware store had bannanas I would buy them there, so long as they were in good condition and not overpriced. I am at the hardware store a lot and I tend to be hungry when I am there. They put a sandwich place outfront. It does a lot of business.

 

[Farmerford]

Finally, several defenders of insurance agents and at least one defender of politicians (does self defense count?); will no one defend lawyers?

 

[johnrex62]

Finally, several defenders of insurance agents and at least one defender of politicians (does self defense count?); will no one defend lawyers?

:anyone:





:laughing:

 

[blueriver]

Wow ... lots of stuff in here. I have the home owners, the trucks, the liability, the tractors each have there own as well as select equipment that could burn (balers)

I do not like mandatory anything, I do however really really like a good agent ... that is just like a good tractor dealer, lawyer, Dentist, Real Estate Agent and Auctioneer!!

If you have to have the insurance best have it with an agent who knows his Business.

 

[Storm56]

1 Every year insurance companies in PA lobby the government to allow more deer to be killed by hunters - why? To stop making payments on vehicles that hit deer.

2 The insurance company determines what I have to pay, not me/

3 For proof of insurance company recklessness, I submit to you the name AIG.

4 I hope you do well in your business. I hope that your hard work is amply rewarded.

1 This is a popular myth.

2 Actually the state insurance commission is the one that approves or disaproves rates based on the company loss/reserve history. Briefly on reserves, all companies must maintain a minimum reserve cash to pay claims based on the dollar value of policies in force. If that amount gets too low the state shuts the company down and ends up disolving the company unless they get a cash infusion from someone, usually another insurer.

3 So every insurance company gets a black eye because of AIG? Actually AIG's troubles came mainly from insuring mortgages.

4 Thank you

 

[Storm56]

Wow ... lots of stuff in here. I have the home owners, the trucks, the liability, the tractors each have there own as well as select equipment that could burn (balers)

I do not like mandatory anything, I do however really really like a good agent ... that is just like a good tractor dealer, lawyer, Dentist, Real Estate Agent and Auctioneer!!

If you have to have the insurance best have it with an agent who knows his Business.

I am partial here obviously, but no question a good agent certainly adds value to your policy. That is why we strive to provide the best service we can at the best price we can find for our policyholders. Service after the sale is just as important in insurance as it is in a new tractor, car, truck, etc.

 

[MossRoad]

I do not hate insurance agents, they are just making a living. I hate the fact that the government dictates that I must give my money to one of the insurance companies. .

Why don't you self-insure yourself, then? Become your own insurance company? Our company is self insured. That would solve your dilemma instantly.

 

[Dill]

Yes the whole AIG debacle really came back to less than 5% of the company. It was brought down by a small group of employees trading in mortgaged back securities which is something I doubt any of us understand.
Than AIG auto insurance was spun off and sold as 21st century/Bristol West insurance and I'm not even sure what they are calling it this week.

 

[clemsonfor]

As previously stated I am a 21 year vetran in the insurance business. We run a **** good agency and represent top notch carriers. It just rubs me the wrong way pretty hard when people that obviously know next to nothing about insurance and how our industry works, then proceed to trash all of us and condemn an entire industry.

Certainly as in any business there are companies and agents that should not be there, but we are not all like that. I take much pride in my business and everyone on my staff works hard for every policyholder. We cannot always help everyone, but everyone is treated with respect and dignity.

Insurance is one of the most regulated industries out there. We cannot just raise rates at random as some here would suggest. We have to have all of our rates approved by the state insurance commission. Our average profit runs in about the 3-5 percent margin. Companies often lose money on the premiums and try to make it up in investments. Anyone check their own 401K's out in the last 10 years? Pretty had to make money in the markets for the last 10 years. Don't believe me, stop by my office and I will be glad to show you profit and loss statements for the last 20 years. And my agency is one of the more profitable ones around.

Insurance is a very competitive business and companies work very close to their bottom line to try and earn your business. They certainly are not the rip off artists that some would have you believe. Some companies are better at it than others for sure, but if you are unhappy with the rate you are paying, shop around!

All policies a company offers must also be approved by the state insurance commission. We do not always have applications that fit unique situations, just like you may not be able to find the perfect tractor for all your needs.

In closing I just want to say that there are a good MANY people that I have had the honor to help when they really needed it. Without us and those pesky insurance companies they would be in financial ruins due to some unforseen trajedy in their life. How many businesses can make that type of claim?

I understand what your saying and all but there are ones who want to **** you and really dont want your business. I give all my business to USAA, why because they are there anytime i want to call they are close to the cheapest i can find, i found some quotes lower but try and call that closed down office at 6pm to find out what you need to do cause you just hit a deer and need to file a claim; do i have to have a police report or not, i really did not want to wait an hour for the HP to show up. And for $10/month i can have a company i trust and that gives me dividends each year and is nice to me on the phone. When trying to get insurance for my 2nd home on the farm every one from travellers, to farm buearau wanted 2-3x's a policy from USAA often times with less coverage. If your all selling apples why do some guys charge 3 times for their apples with blemishes on them, who is buying these apples from Travellers, state farm and farm bureau to keep them in business?? Maybe you are close to the rates i am paying but when i get a quote on my 2nd home for 20K less value on the structure at almost 3X the price it all but pisses me off and makes me think that in no way you want my business (when i "you" im not really referring to you Storm).

-Nate

 

[PA hayseed]

1 This is a popular myth.

No, Santa Claus, the tooth fairy, and the easter bunny are myths, this has yet to be proven. Just because the industry you represent denies doing something, doesn't mean that they are not doing it.

Example of doubletalk and double speak.

Deer wars: science, tradition, and ... - Google Books

Note line where the state insurance guy says "his agency doesn't bother to track deer-vehicle collisions" But here is an article that shows that insurance carrriers do:
Insurance News - State Farm: Deer-Related Car Crashes Up 21%

Then you have the state game comission denying that numbers are accurate. Deer boost auto body repair work - AltoonaMirror.com - Altoona, PA | News, Sports, Jobs, Community Information - The Altoona Mirror

Having worked for the state of PA, I can tell you how one agency does something so that another bureau can deny they do it. You say myth, I see smoke. Obsfucation is what they do, and they are good at it.

According to the Insurance Institute for Highway Safety, there were 182 fatalities that resulted from animal-related collisions in 2009, down 13% from 2008. Institute spokesperson Russ Rader said those collisions don't specify the type of animal, but past research indicates that most of those fatalities are deer-related.

The average property damage cost of deer-related accidents was $3,103, up 1.7% from a year ago, according to State Farm.

Last year, the Insurance Information Institute placed the annual costs for deer-related collisions at $4.6 billion. That included $3.6 billion for vehicle-related damage and $1 billion for medical payments and out-of-pocket costs for vehicle owners.

4.6 billion isn't chump change, and would make people do something.

 

[PA hayseed]

Why don't you self-insure yourself, then? Become your own insurance company? Our company is self insured. That would solve your dilemma instantly.

No, my dilemma isn't insurance, it is the government telling me I have to have it. I don't want to pay for something because the government mandates me to. It is as simple as that.

mandatory insurance in PA is not brand spanking new. Somehow, people still manage to get behind the wheel and drive. These same people have no regard for the crimes codes in general, and even less so for things like mandatory insurance. Since insurance is mandated by the government, when the insurance companies have to make payouts to someone when another motorist is at fault and uninsured it costs them money. How do they recoup their losses? I think they recoup them the same way every other business recoups their losses, by passing it on to their cusotmers. In my case, I have no choice but to buy insurance. I need it to have my license, which I am required to have for my job.

It goes further than this, and is part of the overall problem with our government. They just can't stay out of any facet of our lives. They believe they make the world better through regulation and beauracracy.

I'm not railing on you specifically, but I hate it when people try to tell me something is for my own good when I know it isn't. How did the people of PA manage to live without mandatory insurance for years?

I know people will think it's just me being salty, but compare the rates for mandatory insurance coverage in PA compared to the national average, then tell me who benefits most from mandatory insurance coverage. You will have to scroll down some to see this chart.

Pennsylvania Auto Insurance: Mandatory Auto Insurance Laws, Minimum Liability Coverage & More | Auto Insurance Tips

 

[Storm56]

No, Santa Claus, the tooth fairy, and the easter bunny are myths, this has yet to be proven. Just because the industry you represent denies doing something, doesn't mean that they are not doing it.

Example of doubletalk and double speak.

Deer wars: science, tradition, and ... - Google Books

Note line where the state insurance guy says "his agency doesn't bother to track deer-vehicle collisions" But here is an article that shows that insurance carrriers do:
Insurance News - State Farm: Deer-Related Car Crashes Up 21%

Then you have the state game comission denying that numbers are accurate. Deer boost auto body repair work - AltoonaMirror.com - Altoona, PA | News, Sports, Jobs, Community Information - The Altoona Mirror

Having worked for the state of PA, I can tell you how one agency does something so that another bureau can deny they do it. You say myth, I see smoke. Obsfucation is what they do, and they are good at it.

According to the Insurance Institute for Highway Safety, there were 182 fatalities that resulted from animal-related collisions in 2009, down 13% from 2008. Institute spokesperson Russ Rader said those collisions don't specify the type of animal, but past research indicates that most of those fatalities are deer-related.

The average property damage cost of deer-related accidents was $3,103, up 1.7% from a year ago, according to State Farm.

Last year, the Insurance Information Institute placed the annual costs for deer-related collisions at $4.6 billion. That included $3.6 billion for vehicle-related damage and $1 billion for medical payments and out-of-pocket costs for vehicle owners.

4.6 billion isn't chump change, and would make people do something.

I did not see on any of the links you provided that insurance companies were lobbying for more deer havest. You still do not understand insurance and how it works with the state regulators. If a company is experiencing losses in one area, they ask for a rate increase and then back it up with statistical data. Thus all deer losses are under comprehensive coverage. So if they need a rate increase in comprehensive because of deer they get the rate increase. They do not lobby.

Actually the largest group that goes after the game commission for increasing the deer harvest are the very people this forum is centered around, that's right - FARMERS.

 

[Bird]

Texas has the mandatory liability insurance requirement, too, but everything I've seen is estimates that 25% of the drivers on the roads in Texas do not have the required insurance. So, yep, lots of us do carry the uninsured/underinsured coverage for which we pay, in addition to the rest of our insurance.

 

[amaxwell]

Texas has the mandatory liability insurance requirement, too, but everything I've seen is estimates that 25% of the drivers on the roads in Texas do not have the required insurance. So, yep, lots of us do carry the uninsured/underinsured coverage for which we pay, in addition to the rest of our insurance.
__________________
Bird


Same for Tennessee!

amaxwell

 

[windy acers]

I have been through all of the above headaches an found american family experenced with farm insurence at a great price.