Speaking of insurance.....

[yooper1]

I for one think that insurance agents, lawyers and politicians are one in the same. But this is a family forum so I will not say one of the same what

Anyways....I made a point today to make sure I got my tractor covered somehow, someway.

I have an odd predicament.

I do not own a home yet and I "technically" rent my sister's house. This is for now.

Also, my tractor is kept / garaged on my dad's property, 4 doors down.

I stop in at my agent's office today. You know the one, they say "like a good neighbor..."

If any neighbor treated me the way they seem to....I would not talk to them.

But, I had to have them remove an old vehicle that mysteriously "renewed" itself last week that I no longer owned.

While there I also asked about getting coverage / making sure I had coverage on my tractor.

Well...I do not have homeowners insurance....strike 1.

I do have renter's insurance...which would work BUT the tractor is not covered because it is parked 4 doors down in my father's garage.

So, I ask if I can get some sort of business insurance and they did not even blink an eye and said no. Our company does not insure businesses with tractors. :confused3:

I asked, aren't you an insurance company?

They could not and would not assist me any further.

So...I spoke to one of their agents across the state line (6 blocks from my door) and he said he could not help me but try this agent....yadda yadda.

So, I call up that agent, with the same company I am with mind you and the local agent who said they will not insure my tractor.....and they (the new contacted agent) were happy to provide a policy that will cover me and the tractor both on and off my property with 0 deductible for $281 a year. I will get the exact details tomorrow.

I also had them switch my automobile policies from my local rude agent to them.

That will teach them.

The local agent is always pressuring customers to "upgrade" and according to the agent across the state line, he has heard that my local agent is losing customers because of it and most ask him to take them on and he refers them to the same agent he referred me to

 

[ihuntbear]

when I asked my insurance agent to insure my tractor she asked me if i was using it to plow driveways.I said I will be plowing six driveways for my neighbours.She said I would need insurance for snow removal.She said it would cost an extra 100.00.I said no problem.When I got there to pay her she said it would cost an extra 500.00... total for the tractor was just over 1000.00 for the year.I guess thats what I get for plowing out the neighbours.I"m going to have to start charging them:confused2::confused2:

 

[77transam]

Yep, I learned a while back that Ins. agents are like used car salesmen.Always tryin' to sell you something you don't really want.
Maybe 1 out of 4 will give you a good deal... and I always use the old adage: "Buyer Beware!"

Anytime you're dealing with commission-based salesmen/agents of any kind, it's a crap shoot. Research,Research,Research.

 

[yooper1]

I should also add that I asked the new agent that if necessary and if they could not insure it due to being on a different property, could they please quote me a business policy rate.

She said ...get this....she said "We cannot write a business policy if you have not been actively in business for the past 2 years..."

So I guess they do not want to assist the small business guy. I would have entertained a business policy if needed. But the price she quoted me was "as long as I do not charge for services"

What a screwed up company / idea....can't write a policy unless you "were" actively in business for 2 years. Are they saying just wing it for 2 years and don't get caught? idiots!

 

[jpm]

they do not want a business less than 2 to 5 years because most start up fail then and have higher accident rate. it sure makes it hard to start a new business unless you have BIG bucks behind you,then you wouldn't need start the business :confused2:

 

[johnrex62]

Insurance is a product and an insurance agent is like any other business, they cannot carry every product available. Ford dealers do not normally stock helicopters or Volvo Tractors. Some agents are franchised and others are independant. The lines of insurance they are allowed to carry is regulated and the policies they can sell are limited either by the franchise or the knowledge of the agent and the availability from the underwriters.

To do a competent job of representing a policy and servicing the purchasers of the the policies, an agent needs to limit the products they carry to only what they can support. Maybe business lines are outside of their expertise or comfort level. Why should they apologize to you about not selling you something they don't know? Kinda the same as you getting mad that your local lube shop when they wont neuter your pets while you wait.

I agree the industry has a bad rep for not paying valid claims and doing their best to find ways out of their responsibilities, but sometimes it is just business or lack of training and not malicious intent.

Like any other product, some policies are overpriced with low features and others are cheap and have great coverage. You have to do your research and find the right product/vendor mix for your insurance needs. We often just take the first one we find because it is hard to locate and evaluate the different products available.

 

[MESSMAKER]

I guess I got lucky. I am now with an agent that makes me feel like I matter. I can always reach someone on the phone and they bend over backwards to help me . They are an agent for Cincinatti Insurance, which is rated among the very best and based on the few times I have used it, I can see why. Don't let price be the only deciding factor and if they don't treat you right. Try someone else. There are some good ones out there.

 

[schmism]

It was hella complicated for me to get insurance on my property when i first bought it.

At first it was property with a barn.... (not a home onwers policy) then i got a MH trailer to live in while i built a house. Cant get insurance on "Land" if the dirt has a structure on it (even if its a barn/garage).

well 99% of Homeowners peoples will not cover MH. And companies that do cover MH think you live in a trailer park (owning no dirt under the trailer) so the fact that i had 5 acers with barns, tractors etc was a problem for them.

so you cant get homeowners, you cant get MH policy now what!

i finally just started going down the list of insurance companies in the phone book and finally found one in my area (rural) that was used to dealing with my setup and at that point things went more smoothly. (except when i had to explain i have 100K worth of stuff in a 20K MH)

in short i hate insurance!

 

[RPW]

The way my tractor is insured is because it is occasionally used to maintain my primary home and with my policy I have a certain amount that I can have off property. In my case my tractor is on our ranch property but currently we don't live on that property.

 

[yooper1]

The policy I am getting thru this new agent is like a comprehensive policy on an auto. I am covered anywhere I go with my tractor. Zero deductible too. (er, I should say my tractor is covered anywhere I use it)

Here is the agents brief description of the coverage (sent to me via email):

The policy provides broad coverage for theft & accidental direct physical loss to the tractor. The losses not insured include damage resulting from mechanical breakdown, wear and tear & gradual deterioration, vermin & insects & Illegal activities, war & intentional acts.

I guess I cannot ask for more for the price they want

 

[PA hayseed]

As with all insurances, you are betting that something will happen sooner, and they are writing the policy thinking that something will happen later.

Two of the biggest scams that ever happened in my state was mandatory auto insurance and anything to do with life insurance. In my state they force otherwise law abiding citizens to buy insurance on their vehicle. The company knows you have to buy it, and they jack up the rates. However, nick the convict or dope addict doesn't have a license, drives routinely, and doesn't carry insurance on his gremlin.

When I moved my house, I couldnt find anyone to write me a policy. 9 insurance companies, no deal - too risky. The guy who moved my house has moved hundreds of houses and has never had one fall. I asked him how often his competitors have problems and he said hardly ever.

 

[LBrown59]

I guess I got lucky. I am now with an agent that makes me feel like I matter. I can always reach someone on the phone and they bend over backwards to help me . They are an agent for 1*Cincinatti Insurance, is rated among the very best and based on the few times I have used it, I can see why. Don't let price be the only deciding factor and if they don't treat you right. Try someone else. There are some good ones out there.

1*I had them insuring my home for many many years but back in the 60s-70 they got got out of that line.

It was hella complicated for me to get insurance on my property when i first bought it.
At first it was property with a barn.... (not a home onwers policy) then i got a MH trailer to live in while i built a house. Cant get insurance on "Land" if the dirt has a structure on it (even if its a barn/garage).

well 99% of Homeowners peoples will not cover MH. And companies that do cover MH think you live in a trailer park (owning no dirt under the trailer) so the fact that i had 5 acers with barns, tractors etc was a problem for them.

so you can't get homeowners, you can't get MH policy now what!

i finally just started going down the list of insurance companies in the phone book and finally found one in my area (rural) that was used to dealing with my setup and at that point things went more smoothly. (except when i had to explain i have 100K worth of stuff in a 20K MH)
2*in short i hate insurance!

2*They ain't yer best friend.

As with all insurances, you are betting that something will happen sooner, and they are writing the policy thinking that something will happen
3*Two of the biggest scams that ever happened in my state was mandatory auto insurance and anything to do with life insurance.
4*1*In my state they force otherwise law abiding citizens to buy insurance on their vehicle.
5* The company knows you have to buy it, and they jack up the rates. However
6*, nick the convict or dope addict doesn't have a license, drives routinely, and doesn't carry insurance on his gremlin.
When I moved my house, I couldnt find anyone to write me a policy. 9 insurance companies, no deal - too risky. 7*The guy who moved my house has moved hundreds of houses and has never had one fall. I asked him how often his competitors have problems and he said hardly ever.

3*U got that right.!
4*Works just like gun control.
5*It creates a captive consumer base for insurers while failing to protect policy holders rights.
6*Same deal with gun control.
7*He should have that insurance not you.

 

[Dill]

Guess I better go to law school and better myself. Since I'm already an insurance agent and a local politician (selectman for the last 5 years):laughing:.
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?

 

[Storm56]

Dill - I hear you! I have been an independent agent for 21 years now. I am sure we could tell quite a few stories about policyholders here too, but I will be a professional and refrain from that.

I do have a question for PAHAYSEED in regards to what he thinks about the state making it mandatory for "otherwise law abiding citizens" having to buy car insurance. Let us use the scenario that "otherwise law abiding citzens" do not have to carry insurance.

How would you like it if someone whom did not have insurance, (otherwise law abiding citizen), and totaled your new diesel pickup? And during the accident you lost the use of your leg and arm and could never work again? And the guy that just wrecked your life did not have 2 nickels to rub together. And since both of you are "otherwise law abiding citizens", neither one of you have car insurance. How would that work for ya?

 

[Dill]

Oddly enough NH is one of the few states that doesn't mandate auto insurance. Until you screw up you can run without it. Once you get a DWI or an accident you have to provide proof of insurance. Yes our uninsured motorist coverage isn't cheap but surprisingly there are far few drivers running around with the ridiculously low limits that I have drivers moving in from other states asking for. Honestly what would 25/50/25 cover?

 

[Don87]

I have a seperate rider for my tractor , it is covered for full replacement value.
My homeowners is the same, full replacement for house AND contents.
I was hit by lightning about 12 years ago, insurance company replaced everything.

 

[clemsonfor]

Dill - I hear you! I have been an independent agent for 21 years now. I am sure we could tell quite a few stories about policyholders here too, but I will be a professional and refrain from that.

I do have a question for PAHAYSEED in regards to what he thinks about the state making it mandatory for "otherwise law abiding citizens" having to buy car insurance. Let us use the scenario that "otherwise law abiding citzens" do not have to carry insurance.

How would you like it if someone whom did not have insurance, (otherwise law abiding citizen), and totaled your new diesel pickup? And during the accident you lost the use of your leg and arm and could never work again? And the guy that just wrecked your life did not have 2 nickels to rub together. And since both of you are "otherwise law abiding citizens", neither one of you have car insurance. How would that work for ya?

Sorm you still can be screwed with mandatory coverage. You will need to buy supplamental on your policy for under insured. The state minimuns are so low here in SC the max personal injury is like $200K. So if some guy totals my $35K truck and i loose my leg and arm and cant work i can get $200K out of his insurance company, wow im rich right i got $35K to buy a truck i can drive one legged and now i dont have to work for 3 years till i have to look for a job a one legged one arm guy can do when my huge judgement runs out cause Joe the crackhead only had the state minimum on his dodge neon. Then i can go on disability and cause im only 28 and have not had high paying jobs for years and only paid for a few years i will get what $800/month for fully disabled. I think mandatory in some cases is good but the mins are so low that someone will and can still get screwed.

 

[Storm56]

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?

 

[Storm56]

Sorm you still can be screwed with mandatory coverage. You will need to buy supplamental on your policy for under insured. The state minimuns are so low here in SC the max personal injury is like $200K. So if some guy totals my $35K truck and i loose my leg and arm and cant work i can get $200K out of his insurance company, wow im rich right i got $35K to buy a truck i can drive one legged and now i dont have to work for 3 years till i have to look for a job a one legged one arm guy can do when my huge judgement runs out cause Joe the crackhead only had the state minimum on his dodge neon. Then i can go on disability and cause im only 28 and have not had high paying jobs for years and only paid for a few years i will get what $800/month for fully disabled. I think mandatory in some cases is good but the mins are so low that someone will and can still get screwed.

Clem I cannot argue that the state minimums are too low. That is a matter for the politicians to take up. Though you can certainly buy higher coverage on your own policy to protect yourself.

 

[LBrown59]

Dill - I hear you! I have been an independent agent for 21 years now. I am sure we could tell quite a few stories about policyholders here too, but I will be a professional and refrain from that.

I do have a question for PAHAYSEED in regards to what he thinks about the state making it mandatory for otherwise law abiding citizens" having to buy car insurance. Let us use the scenario that "otherwise law abiding citzens" do not have to carry insurance.

1*How would you like it if someone whom did not have insurance, (otherwise law abiding citizen), and totaled your new diesel pickup? And during the accident you lost the use of your leg and arm and could never work again? And the guy that just wrecked your life did not have 2 nickels to rub together. And since both of you are "otherwise law abiding citizens", neither one of you have car insurance. How would that work for ya?

I think you missed his and my point about mandatory insurance.