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Thread: Insurance

  1. #41
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    Default Insurance

    Quote Originally Posted by Moonlight Hunter View Post
    Yes you do, and your business has been good for a while now. I have an uncle you know.
    Just for the crowd, underwriters (companies that actually hold the insurance risk) use reinsurance to spread risk and avoid concentrations. A company in NE may participate in some SC coastal risk. The SC underwriter gives away some coastal concentration, and the NE company gets some risk that carries a higher premium.
    Last edited by trkykilr; 11-13-2018 at 08:57 PM.
    Them that don't know him won't like him, and them that do sometimes won't know how to take him

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  2. #42
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    Quote Originally Posted by DJA View Post
    Not advisable

    You’re gonna have folks that have their own issues with different insurance providers. I have worked for and dealt with every insurance company you can think of in both Carolinas and for the most part farm bureau seems to take car of their folks far better than any I’ve dealt with plus they still are one of the few companies that still have staff adjusters and not some dude from Indiana
    "They are who we thought they were"

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  3. #43
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    Quote Originally Posted by Gut_Pile View Post
    I won't ask you anything about your dog, and I dang sure won't charge you more for having guns.

    Give me a shout
    Get in touch with this guy


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  4. #44
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    Just wait till they all go to the 2% deductible, it’s coming
    "They are who we thought they were"

    You can dress a fat chick up, but you cant fix stupid

  5. #45
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    Quote Originally Posted by TheVisorGuy View Post
    You’re gonna have folks that have their own issues with different insurance providers. I have worked for and dealt with every insurance company you can think of in both Carolinas and for the most part farm bureau seems to take car of their folks far better than any I’ve dealt with plus they still are one of the few companies that still have staff adjusters and not some dude from Indiana
    One of the few I agree. There are still a few good ones like Auto Owners who have staff adjusters that you don’t have to pay $40 a year to be a member of and have a stronger AM best rating with better overall rates was my point.


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  6. #46
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    Auto owners is another good one. I would never wish nothing but the best for will and I’m sure he can hook you up with some good coverage at a great rate but just like every other agent with most big insurance companies if the shit hits the fan and you aren’t happy with some details of a claim then their hands will be tied. You will be calling some lady in another state reading out some 33-8675309 claim number hoping you don’t get screwed
    "They are who we thought they were"

    You can dress a fat chick up, but you cant fix stupid

  7. #47
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    Rates go up, rates go down. If your are buying solely on price your agent hasn’t done their job understanding your needs and providing value.


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  8. #48
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    Quote Originally Posted by b35w View Post
    Rates go up, rates go down. If your are buying solely on price your agent hasn’t done their job understanding your needs and providing value.


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    Truth


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  9. #49
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    If you live in an older home, try and get a policy written that has code upgrade coverage, if they will still write you one. And as southern duck stated, definitely don’t get an ACV policy
    "They are who we thought they were"

    You can dress a fat chick up, but you cant fix stupid

  10. #50
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    Quote Originally Posted by TheVisorGuy View Post
    If you live in an older home, try and get a policy written that has code upgrade coverage, if they will still write you one. And as southern duck stated, definitely don’t get an ACV policy
    The coverage you speak of is ordinance or law. It is very important for anything built pre 1997 (I think that was the year) on the coast. It will help to rebuild your house to code.

    Some shit needs acv. If your roof is 20 years old and they are just getting on the risk why should the company buy you a new roof when some shingles blow off? Insurance is not a maintenance policy, it is to keep you from financial catastrophe.

    Plenty of standard companies are writing coastal homes, they are being very smart about it. The big wind blows off the ocean so why shouldn’t the.company charge more for the risk of your house down there? There are some companies that are writing coastal homeowners for cheap, it will bite them in the ass if Michael didn’t already. In addition to looking at a companies AM Best rating look for their policyholder surplus (cash on hand to pay claims outside of reinsurance and to operate). The big stable companies have billions, the little companies can disappear quickly (last I looked SC Farm Bureau has $80 or so million in surplus which isn’t much).
    At the end of the day do you want to count on the cheapest price to protect your assets and everything you have worked for?
    cut\'em

  11. #51
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    I have found that just because a big company has the surplus that doesn’t mean they intend to spend it. That, along with the shear number of insured is likely how they get that surplus.

    I can only speak for roofing. For instance, if you file a claim on your roof for hail damage, the requirements of damage needed will vary from company to company. Unless you have collateral damage, there will be a test square performed on the roof that will require certain number of hits required within that test square for the insurance to cover or pay for that slope. Some companies can require as many as 15 hits within that test square whereas others may only require 7. Typically the bigger companies are more conservative and will be the ones that require more hits. This very situation is why 26 out of 30 houses on a street get new roofs due to hail damage where as the other 4 homes don’t. Not saying it’s right or wrong, it all goes back to policy. However it does suck to have to deal with when the folks in those 4 homes don’t get new roofs and all their neighbors did.

    Honestly of the 16-21 houses a week that we do, I would say 13-17 of those are being covered by the insurance company. Although you do know the money is there and that you have a lower chance of getting stiffed, however all the bs and paperwork that comes along with it can get old.
    "They are who we thought they were"

    You can dress a fat chick up, but you cant fix stupid

  12. #52
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    Quote Originally Posted by Southernduck View Post
    The coverage you speak of is ordinance or law. It is very important for anything built pre 1997 (I think that was the year) on the coast. It will help to rebuild your house to code.

    Some shit needs acv. If your roof is 20 years old and they are just getting on the risk why should the company buy you a new roof when some shingles blow off? Insurance is not a maintenance policy, it is to keep you from financial catastrophe.

    Plenty of standard companies are writing coastal homes, they are being very smart about it. The big wind blows off the ocean so why shouldn’t the.company charge more for the risk of your house down there? There are some companies that are writing coastal homeowners for cheap, it will bite them in the ass if Michael didn’t already. In addition to looking at a companies AM Best rating look for their policyholder surplus (cash on hand to pay claims outside of reinsurance and to operate). The big stable companies have billions, the little companies can disappear quickly (last I looked SC Farm Bureau has $80 or so million in surplus which isn’t much).
    At the end of the day do you want to count on the cheapest price to protect your assets and everything you have worked for?

    A lot of the companies in our area will no longer writea replacement cost policy with a roof over a certain age. Can’t say that I blame them
    "They are who we thought they were"

    You can dress a fat chick up, but you cant fix stupid

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