Insurance is a rip off

[b35w]

Until it’s not

I get the question almost daily so I am going to answer it with a real life scenerio. I literally just got this email 5 minutes ago.

Customer experienced a claim back in May where a tree fell on the back of their house and deck which caused both structural and water damage that needed to be mitigated. Upon the mitigation process, asbestos was found to be present which has to be handed very carefully. The initial check we sent for the roof and initial repairs was for $49,000. Today we issued a second check for $109,000 and will be releasing an additional almost $29,000 once the job is completed. When it is all said and done, my guess is that we will pay out $200,000.

Let’s say this customer has been with us for 10 years and has paid an average premium of $1400/annually which comes out to a total spend of $14,000. If you are this customer, who do you think got the better end of the deal.

Just figured I post up for all the anti-insurance people


Sent from my iPhone using Tapatalk

[FOWL MOUTH]

It’s an odds game and the statistics/odds are always in the insurance company’s favor. By the way, that homeowner will probably be canceled when the last check is mailed and premiums will increase for the rest of the customers you insure…that’s how it usually works.