O/T Insurance company policy charge

I was just checking over my homeowners policy and it states.

The above total premium includes a $30.00 policy fee.

The policy fee is fully earned and non-refundable.

What the heck can they dream up next. I guess I feel the insurance companies are just choking me to death, and I don't know how much air I have left.

"what the heck can they dream up next" Go ahead and try to file a claim and you'll find out.

Jay,

you are probably spot on with your comment.

I've only had one claim, my insurance said they were going after the other person anyway. but still it shows up on my name I figure.

rick

I tell many folks to be very carefull even asking a insurance company about coverage. A friend asked if she was insured, and they said no. A week later they droped her as sh was high risk.
Another lady friend was canceled because she was high risk. He husband had had his knees operated on about 11 years before. Oh yea, a important fact is he died 10 1/2 years before. She had never had a claim of any nature, and that was her husbands only claim. Their policy was about twenty years in force prior to his death, and no doctor or hospital conected to his death.

We should perhaps list all the insurance company facts on a web site, along with the insurance company name etc. Their denial of claims etc. I'm sure they have attorneys on speed dial, and they collect enough of our money to pay the attorneys.

In all fairness, when it comes to wind damage, insurance companies suck at the way they throw money awy. Rotten wood, poor construction, poor design, overgrown, and half dead trees, and a total lack of maintinance. Let me add again poor construction. I would guess 50% of the claims should not be paid out that I see, and repair.

One good thing is our insurance company now does not pay for tear off, new plywood etc. They pay to only tear off the top layer of shingles.

Germany has what many consider the best health care insurance in the world, and they only spend 10% of GDP to our 18%. Of course the reason it's only 10% is because that's all they budget; once the money runs out you wait until next year. And their system is still going broke.

It has been my experience with homeowners insurance that you should shop around every two or three years; I typically save around 200 bucks a year every time I change carriers.

I called my agent a few months ago because the mortgage company wasn't happy with how the address was listed on my policy. The agent said "no problem, and since you called, I want to suggest changing your policy". He put me on a different policy that dropped certain coverage but in general offered better coverage at a substantial savings over my current policy. Not all agents are alike, not all companies are alike.

CALL the STATE insurance Commissioner

The law and the banks require you to have it and the shirt/tie guys set in their office (when they aren't playing golf with the bankers and lawyers)and collect the money. Free enterprise anyone??? I told my ins man once , when he wondered why I was cashing in a whole life policy , that the day they outlaw dented and rusted cars , I will be sitting in my office in a shirt and tie waiting to tee off with my buddies like he does. He kind of scowled at me. The truth hurts!

As some of ya'll might recall, I inspect real estate properties for insurance companies before the company writes or renews a policy on the property.

A lot of things impact premiums that homeowners might not even realize. An open porch over 18" high with no railings, steps over 4 high with no railings, a trampoline that is not protected by a locked 6' fence, ditto for a swimming pool. A hot tub that does not have at least the lid locked. Insurance companies take a dim view of most dogs, particularly if they're less than friendly to strangers. Even the odor of a dog in a house is seen as diminishing the value of the house. It's company policy that if an aggressive or obnoxious dog prevents me from doing my job, all I have to do is take a photo of the dog and turn it in. The company will back me up on not doing the inspection. I've had to do that quite a few times, and it's not unreasonable to assume that under those conditions coverage would be denied, or if it's a renewal the policy would be cancelled.

Professionally installed fireplaces generally cause no problems. Most of the vast array of wood stoves do, particularly some that are openly "jerry-rigged". Some people install a wood stove for supplementary heat to save money and don't realize the presence of the stove increases their homeowner's insurance premiums by more than they're saving on energy.

A propane tank within 30' of a house is a no-no, as is anything combustable near a propane tank. Any brush that would endanger the dwelling if it got on fire gets their attention. Shrubs or trees touching the house, or tree limbs over 2 1/2" in diameter overhanging a house also have to be reported. Childrens swing sets and slides are considered an "attractive nuisance" unless they're secured.

This is a general overview. I have to include all of the above in my reports, including photos. In fact, I'm required to submit a photo of anything that's deemed a hazard. Photos that are always required are a photo of the front, rear, and house number to prove I have the right house. If there's no number on the house, I have to explain in comments how I determined that was the right house or abandon the search.
For anyone with a house that isn't clearly marked, if I can't find it in the daytime, imagine a fire truck or rescue unit trying to find it at night.

Anyhoo, there's a heckuva lot more that goes into an insurance premium beyond an agent simply pulling a number off a chart.

So - we aren't supposed to live at all????

I know, you're just the messenger, thank you for the info.

But - read what you wrote. Is that life???? Is that living?

--->Paul

If I had a policy at any the insurance companies that hire you, I'd soon be looking for an new company. I've never had an inspection with the previous company whom I had retained for 25 years, and three years ago when the agent suggested a change, the new company never had an inspection. Perhaps it is because I don't go with the cheapest insurance and have had few claims. The few claims I've had, were never contested.

WOW Goose :shock: .. I'm surprised that "moats and crocodiles" wern't mentioned, or are they an over-sight on behalf of the insurance companies in this neck'a-tha-woods. hahahahaha

If the fire truck couldn't find the fire in the night I think the last thing to look for would be a number on the front gate.

I asked about the policy fee. Each state has its maximum value. It goes towards covering the printing, mailing, archiving costs,etc of the policy. I guess some of this "stuff" is handled by companies that are brokers of the insurance companies providing the coverage and not the insurance company itself.

When you think about it, it's mostly all common sense to protect yourself as well as the insurance company. If someone approaches your house with honest intentions and your dog sinks his molars into him you're in trouble anyway.

I'm aware that there are companies that don't bother with inspections, but I understand the ones that do usually offer a discount on the premium on premises that inspect favorably.

Insurance companies don't want to insure anything that isn't practically 100% "claim-proof",.... so what's the point of us common people having insurance at all (while meeting all the stipulations you listed), except to make the insurance companies richer?
I can find a much better "use" for my money.:roll:

You don't insure against the predictable, you insure against the UNpredictable. If your front steps are five high and made of concrete with no railing, the odds are infinitely greater that sooner or later someone will slip on ice and break a leg than if there is a sturdy railing to hang onto.

The more you can remove the element of unpredictability, the less you and your insurance company both have to worry about.

Sure, but if a home owner puts up a railing (which my house has) there is VERY little risk of a fall in the first place. Insurance companies play the "odds" of someone having an accident, and I play the same "odds" of someone NOT having an accident while saving my money.

I think we're going to see alot of insurance companies go belly-up with the coming depression,... in fact Brooke Corporation has closed up shop in my home town, and 200+ ex-employees are now looking for work.

Insurance companies thrive on the "fear of what might happen", while setting stipulations in their policies that greatly reduces the chance of any accident.
Insurance is all a game of "playing the odds" of having an accident, while reducing those very same odds in one's particular favor, and I've been doing it successfully for over 60 years (without insurance).

I can tell you when to drop a company. I had a tree fall on house and agent showed me on page 69 of policy(you had to sign every page on bottom) I had missed signing. So company says I have no insurance. I said how come you kept all my premiums for 10 years. They returned one years premium and said good luck. Also, new company will get you better deal because first years premium almost 100% goes to agent. If agent wants to cut you a deal, he can. Next year, tough.