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Old 07-30-2008, 09:12 PM   #16
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Is the Bank trying to rip me off?


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Question Nestor, Do you shop the insurance carriers directly (agent) or do you use an insurance broker?
No, I just phone up various brokers and explain my situation. They ask a bunch of questions and phone me back with a quote.

Each broker will sell insurance for several different underwriters, so by contacting 3 or 4 brokers, I generally cover all the different underwriters.

It seems to me that it's not necessarily the insurance underwriters that are raising their rates, it's the brokers who are trying to milk their clients for more each year.

I kinda got sick and tired of that game. Every 3 or 4 years, I'd get miffed with my insurance going up every year and when it hit $2400, I'd ask for quotes from different brokers, and invariably I'd end up with a quote of $1800. And this continued in a pattern with each broker charging more until I switched brokers.

I think brokers offer lower rates to lure clients away from other brokers, and then keep increasing their premiums hoping the client will keep paying those jacked up premiums.

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Old 07-31-2008, 09:32 AM   #17
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Is the Bank trying to rip me off?


A small business account has almost all of the work for a broker as a large account. Broker fees for a small account are usually disproportionate to the policy dollars. What you are paying them for is to shop to get a competitive rate and their quality of service.

Maybe I was just lucky and found a decent broker.
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Old 07-31-2008, 11:10 AM   #18
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I think brokers offer lower rates to lure clients away from other brokers, and then keep increasing their premiums hoping the client will keep paying those jacked up premiums.
Yes.
And, when Hechinger was here and Home Depot was an also-ran, HD was very nice to the customers.
As soon as HD vanquished Hech, HD became just as rude as Hech was, maybe worse.
Now Lowes, up the road from HD, is nice to the customers, and the cycle begins again.

People running for political office behave differently once they've achieved that office. This conduct has been even noted in chimpanzee societies.
http://www.amazon.com/s/ref=nb_ss_gw...tics&x=13&y=18

There is also an effect where people get locked into things and the companies know this and they hope to cash in on it. "The Devil you know" vs. the Devil you don't know.
For example, the "Qwerty" keyboard key layout is far inferior to the Dvorak keyboard layout in every respect, but nobody uses it.
Game Theory analyzes this aspect of social behavior.
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Old 07-31-2008, 08:27 PM   #19
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Is the Bank trying to rip me off?


Yeah, but you can't presume that I'm going to stick with my own insurance company because another one may be WORSE!!!

I've paid insurance for over 22 years on my building and have never made a single claim. So far, the money flow has pretty well been a one way street.

I would have thought that both insurance companies and brokers would want to keep my business rather than drive me away by raising their rates until I start shopping around for a better deal.

Guess it just shows that we all don't think the same way. If I were making money off a guy that never filed a claim in 22 years, I think I'd try to keep him as a customer. Maybe the insurance company looks at it from a different perspective. Maybe they figure that the longer I go without a claim, the greater the claim I'm going to file when I do! Kinda like predicting California earthquakes. Maybe that's what happens to your thinking if you get too much education.

Last edited by Nestor_Kelebay; 07-31-2008 at 10:35 PM.
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Old 08-03-2008, 08:02 PM   #20
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Is the Bank trying to rip me off?


Insurance companies, not oil companies will bankrupt the world. I am half of a 2 man shop in Georgia, we have liability insurance as you would expect, and we also have workers comp coverage. The state does not require workers comp coverage for us because we have 0 employees, but the insurance companies of some of the contractors we sub for require we have it or they will charge the general for their exposure to risk. Workers comp for us is $7200.00 per year, but if we exempt ourselves from the policy because we are owners the premium is reduced to $3200.00 per year. So basicly we are paying for a paper that says we have insurance that we can not make a claim on, and this satisfies the insurance company, had to be a lawyer to come up with that.
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Old 08-03-2008, 11:42 PM   #21
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Wire Twister: there just doesn't seem to be any end to that kind of money grabbing. But, it's not only the insurance companies, it's our own #$&%ing government.

Where I live, there is grafitti sprayed all over the buildings. There is litter all over the streets and avenues. There are people that will approach you in a very menacing fashion asking for money so that you feel that if you don't give them any, they'll attack you. And the favourite past time among young people seems to be stealing cars and going for joy rides in them. Yet, where I live, the police are too busy catching people with their radar guns and giving out parking tickets to attend to these other matters.

It seems to me that my city government is using it's police force to raise money by fining people. That disturbs me because I continually hear about "cracking down" on speeders, or "cracking down" on people who don't come to a full stop at a sign, or "cracking down" on improper lane changes. When are the police going to "crack down" on the kids stealing cars or spraying grafitti on people's houses and the vagrants that shake you down for cash in the streets?

What we seem to have is a police force that "cracks down" on law abiding citizens because those are the only people who actually pay when fined. The police don't bother with the people causing the real problems, because they know those people simply don't pay when fined, and jail provides three meals a day and a soft warm bed to sleep in that they otherwise wouldn't get. So, there's no money to be made chasing the vandals and thieves. The only money to be made is in cracking down on law abiding citizens.

Hey, I've got an idea! Why don't we stop giving so much money away to every dam African Banana Republic and every lazy bum on welfare. Then we would have money so we could pay our police to catch car thieves and vandals instead of paying them to find excuses to fine us.

Last edited by Nestor_Kelebay; 08-04-2008 at 12:12 AM.
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Old 08-04-2008, 06:20 AM   #22
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Is the Bank trying to rip me off?


Geezzz, Nestor, it sounds like you live in my neighborhood. I have had these bums come up to me when I was working on my front porch, asking for money.

About the original question, as far as banks go, just be sure you always count what you have, and question them about anything that does NOT add up. The banks do make mistakes, and it seems that it is usually in their favor.

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Old 08-04-2008, 10:01 PM   #23
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BofusMosby:

Usually, if I see some drunk approaching me that looks like he just stepped out of a horror movie, I'll ask him for spare change and a cigarette first.

(And, truth be told, when I've seen drunks approaching people and asking for money in an intimidating manner, I've come to the aid of the askee. These people have been alcoholics all their lives and are generally in such poor health that they're simply no match for a healthy man, even one with little practice fighting over the last bottle of beer in a case.)

It's the car thieves and spray paint vandals that irk me the most because they ply their trade when no one is around, and so there's little I can do about them and the damage they cause. Except complain to the police, who are, like I say, doing little about it.

The more I hear about 14 year olds spray painting on buildings or stealing cars and going for joy rides, the more I grow to appreciate the elegant simplicity of Singapore's youth justice system.
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Old 08-05-2008, 07:33 AM   #24
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Nestor

A few years ago, I heard something outside about 2:00am. I went outside to catch a couple of *astards trying to steal my car out of my own driveway. I scared the crap out of them, and they hauled butt. Next time I hear something, I'll have my gun with me, and they won't get away. Its just another wonderful day in the neighborhood!
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Old 08-05-2008, 11:02 AM   #25
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Nestor: Next time I hear something, I'll have my gun with me, and they won't get away.
Here in Canada, getting a licence to possess a handgun is darn near impossible unless you're a prosecutor or a judge.

As a result, the only people that have handguns are the criminal biker gangs. I know that because the newspapers regularily report on bodies turning up in farmer's fields or along river banks of people who were known gang members who were shot "execution style".

My guess is that it isn't the judges and prosecutors that are shooting these people in the back of the head in their free time.

That's what happens when you have too many laws. It's only the law abiding citizens that abide by the laws. It's the criminals that ignore the law, putting law abiding citizens at a disadvantage.

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Old 08-05-2008, 03:09 PM   #26
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It's only the law abiding citizens that abide by the laws. It's the criminals that ignore the law, putting law abiding citizens at a disadvantage.
"A situation in which a group of people act to obtain short-term individual gains, which in the long run leads to a loss for the group as a whole."

It's in each person's interest to have a gun but it is in the interest of the group to not have weapons.

This problem is not solvable.

The situation in Canada is an unstable equilibrium; when enough people get guns, everyone must then get them. And it doesn't go back the other way, because everyone having guns is a stable equilibrium [I think].

This is a form of The Tragedy of the Commons.
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Old 08-05-2008, 06:15 PM   #27
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Here is Florida, a permit is not needed to have a gun. The only time a permit is needed is if you will be carring a conceiled weapon. Even if they made guns illegeal down here, I would NEVER part with the ones I have. If somone breaks into my house, I plan on nailing them, before they have a chance to do me in. Don't get me wrong, I hope I never have to hurn anyone, but I will if I have to. Down here, there are more and more home-invasions every day. If I have to take somes life, I would rather be tried by a jury of 12, than be carried to my final resting place by 6.
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Old 08-05-2008, 06:46 PM   #28
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Here is Florida, a permit is not needed to have a gun. The only time a permit is needed is if you will be carring a conceiled weapon. Even if they made guns illegeal down here, I would NEVER part with the ones I have. If somone breaks into my house, I plan on nailing them, before they have a chance to do me in. Don't get me wrong, I hope I never have to hurn anyone, but I will if I have to. Down here, there are more and more home-invasions every day. If I have to take somes life, I would rather be tried by a jury of 12, than be carried to my final resting place by 6.
In MD you're supposed to retreat from your own house before using deadly force to protect your property, but a cop told me that you can never be sure that an intruder doesn't mean to do you personal harm, and so then you can defend yourself.
M. Ayoub wrote at least one good book on this subject.
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Old 08-05-2008, 08:26 PM   #29
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I look at it this way. If I am in my house, and someone breaks in, this person isn't breaking in just to say hi. This person has invaded my own space, and in my mind, will do me harm if given half a chance. This means that I will feel my life is being threatened. Therefore, this gives me the right to do,, with what ever means, to stop him from doing this. And this I WILL do with whatever means are at my disposal. I will want to make sure that it is ME that sees the light of day when the sun rises.

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Old 08-05-2008, 09:49 PM   #30
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I will want to make sure that it is ME that sees the light of day when the sun rises. Bofus
I still have the book somewhere, but basically Ayoub said that if you find someone in your house, the guy is hopped up on drugs, his eyes are already used to the dark, and if you give him any quarter you have probably used up whatever advantage you might have had.

Four times since I asked Mr. Smith and Mr. Wesson to stay with me in 1982 I have gone through my house with a flashlight and that gun.

I never found anything. I don't know what made the noises.

Each time I hoped I would find the guy and each time my wife fervently prayed that I would not.

Now I'm older and I kinda' hope I don't have to do this house thing again, but the gun is still loaded [wadcutters] and the flashlight still works.

If it goes to court you may, you may, get what's legal. but I think you can pretty much forget about getting justice.
If you are extremely wealthy you won't get justice either, but I don't think what you do get will bother you much.

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