So you think they are horrible because they have higher rates in higher risk areas? You think they should hand out money and pay any claim that comes in? Are you willing to fund that pool of claim money?
Gee, this is basic econ 101. If they collect only $1,000 a year for a home policy and they have to pay $50,000 for a claim 4 years into the policy, they haven\’t MADE any money. Factor the risk of probably HAVING to pay a claim on that $100,000 house because of the area it is in (flood, earthquake, tornado, etc) and think of how many other losses you will probably have.
I don\’t think it\’s any wonder that insurance companies aren\’t in the business to lose money. Who is in business to lose money? If you are, by all means, please hand over your paychecks. I\’ll gladly take them from you. I have never heard of a company or business that wants to pay out more than they have coming in. Again, very basic.
OK guys, what area do you suggest all these people move to. An area that has no danger of catastrophes and has clean air and has only sane people! Give me a break! Most of you don\’t even know what you are talking about!
Lets face it – the postings here reveal that some segment of Americans think that their property insurance is a catch-all public service. And in Florida it appears to be moving in that direction with Citizens (or should it be Komrades) insurance. People are in denial that the real cost of rebuilding homes every other year will be borne by someone – either a private entity or in the case of Komrade,
a public one. Watch for this in Florida in the near future – that guy over there is rich, and right now he pays most of our expenses for roads, police, fire and department of social and health services.
I can\’t afford to pay my share for those things, nor can I afford to pay my share to properly insure the home I bought, so lets pass legislation and let the rich guy pay. Due to the tax INEQUALITY in America, and all that! I can\’t wait until those who DON\’T own property in Florida, but live and work there, come to understand their tax dollars are being used to supplement the cost of insuring
some dudes million dollar home. That should cause the wheels to fly off Komrade insurance at warp speed.
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So you think they are horrible because they have higher rates in higher risk areas? You think they should hand out money and pay any claim that comes in? Are you willing to fund that pool of claim money?
Gee, this is basic econ 101. If they collect only $1,000 a year for a home policy and they have to pay $50,000 for a claim 4 years into the policy, they haven\’t MADE any money. Factor the risk of probably HAVING to pay a claim on that $100,000 house because of the area it is in (flood, earthquake, tornado, etc) and think of how many other losses you will probably have.
I don\’t think it\’s any wonder that insurance companies aren\’t in the business to lose money. Who is in business to lose money? If you are, by all means, please hand over your paychecks. I\’ll gladly take them from you. I have never heard of a company or business that wants to pay out more than they have coming in. Again, very basic.
OK guys, what area do you suggest all these people move to. An area that has no danger of catastrophes and has clean air and has only sane people! Give me a break! Most of you don\’t even know what you are talking about!
Lets face it – the postings here reveal that some segment of Americans think that their property insurance is a catch-all public service. And in Florida it appears to be moving in that direction with Citizens (or should it be Komrades) insurance. People are in denial that the real cost of rebuilding homes every other year will be borne by someone – either a private entity or in the case of Komrade,
a public one. Watch for this in Florida in the near future – that guy over there is rich, and right now he pays most of our expenses for roads, police, fire and department of social and health services.
I can\’t afford to pay my share for those things, nor can I afford to pay my share to properly insure the home I bought, so lets pass legislation and let the rich guy pay. Due to the tax INEQUALITY in America, and all that! I can\’t wait until those who DON\’T own property in Florida, but live and work there, come to understand their tax dollars are being used to supplement the cost of insuring
some dudes million dollar home. That should cause the wheels to fly off Komrade insurance at warp speed.
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