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#21
posted to rec.boats.cruising
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Insurance early warning?
Why is it that no one ever suggests that it's time to bring parasitic
entities such as "insurance companies" to heel? Insurance companies aren't any more parasitic than any other companies. .... Something that meets the needs of the insured rather than the greed of the stockholders of the insurance companies. If "the greed of the stockholders" is a problem, you can calm yourself thinking about the lack of barriers to buying insurance company stock yourself. Frankly, most publicly held corporations hand over far more money to their Board of Directors and particularly to the few selected company officers than they do to their stockholders. Paul Cassel wrote: Then every policy could be like social security. Yep. Sort of like the way not-for-profit insurance companies operate now. .. Buster - government is the PROBLEM. It's not the solution to anything. Ah, that's what I like. A nice calm well-reasoned and non-ideological answer for everything! Insurance of all types is legalized gambling. They don't even get a house percentage... they do hire some very clever mathematicians to try and tilt the odds slightly in their favor, but if they tilt too much then they lose business to somebody offering the same coverage at lower price. Now, if somebody were to talk about reducing the obscurity & complexity of the legal language in insurance contracts, and maybe talk about outlawing certain kinds of advertising (or just effectively enforcing current laws against fraud), NOW we'd be getting somewhere. Fresh Breezes- Doug King |
#22
posted to rec.boats.cruising
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Insurance early warning?
I pay about $330 for Allstate insurance on a 40 footer. My last boat,
a 27 footer, I paid slightly less for. I made a claim when I dismasted, and Allstate came through and treated me fairly. I was pleased it worked at all. Mostly, I carry insurance for liability, and for medical to help those that might get hurt. Sure, it's great to get compensated for the loss of your boat, but if it's your own fault, well, take some responsibility. However much I like Allstate Insurance, I'm farily certain they will not insure in the hurricane "box" during that season. But then who wants to be there during that season anyway? As far as the political debate regarding gubmint vs private, any organization that is HUGE is likely slow to respond. I've heard endless complaints about the government, some of which are quite valid. On the other hand, there are tons of private corporations that suck big time too, can't get out of their own way, lousy customer service, etc. So I think it's more about size and organization than Government Vs Private Sector. |
#23
posted to rec.boats.cruising
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Insurance early warning?
Luc,,, I just spoke to a fellow who has his boat in Ft Myers , Fla. His
insurance company told him either move the boat or they were dropping him .. Now he doesn't know what to do.. He said most of the old hurricane holes are out do to developement. He said that is why so many boats are for sale in Florida. He said that his boating buddys are planning now for the hurricane season. Many are getting their boats was up rivers to avoid the mess. ================= "Luc" wrote in message oups.com... I pay about $330 for Allstate insurance on a 40 footer. My last boat, a 27 footer, I paid slightly less for. I made a claim when I dismasted, and Allstate came through and treated me fairly. I was pleased it worked at all. Mostly, I carry insurance for liability, and for medical to help those that might get hurt. Sure, it's great to get compensated for the loss of your boat, but if it's your own fault, well, take some responsibility. However much I like Allstate Insurance, I'm farily certain they will not insure in the hurricane "box" during that season. But then who wants to be there during that season anyway? As far as the political debate regarding gubmint vs private, any organization that is HUGE is likely slow to respond. I've heard endless complaints about the government, some of which are quite valid. On the other hand, there are tons of private corporations that suck big time too, can't get out of their own way, lousy customer service, etc. So I think it's more about size and organization than Government Vs Private Sector. |
#24
posted to rec.boats.cruising
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Insurance early warning?
prodigal1 writes:
Those who engage in ad hominem populate my killfile. Heheh. For minute on my fuzzy display I thought you wrote, "populate my kibble". |
#25
posted to rec.boats.cruising
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Insurance early warning?
Luc wrote: I pay about $330 for Allstate insurance on a 40 footer. My last boat, a 27 footer, I paid slightly less for. I made a claim when I dismasted, Hi Luc: I pay $304 for Allstate insurance on my 39' . I ahve not had a claim yet. But your experience sounds reasuring. That wa my big conmcern. A cheep premium is wothless if the company denies your claim or drops y9ou after a claim. I wnated to use USAA. Really rock bottom rates for auto......... but they would not touch boats over 20 yo. Darn. Anybody else have Allstate or another company that is cheeper that Luc's $330 or my $304? Bob |
#26
posted to rec.boats.cruising
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Insurance early warning?
Bob wrote:
Luc wrote: I pay about $330 for Allstate insurance on a 40 footer. My last boat, a 27 footer, I paid slightly less for. I made a claim when I dismasted, Hi Luc: I pay $304 for Allstate insurance on my 39' . I ahve not had a claim yet. But your experience sounds reasuring. That wa my big conmcern. A cheep premium is wothless if the company denies your claim or drops y9ou after a claim. Those rates seem to be somewaht cheaper than British rates, and we don't get any huirrcanes over here! As for gas, try $160 per litre for starters. The pips are squeaking, and the government is about to abolish the "red diesel" scheme for pleasure boaters. You've a long way to go yet! :-) Dennis. |
#27
posted to rec.boats.cruising
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Insurance early warning?
"Dave" wrote in message ... I'm not sure your aircraft experience carries over to pleasure boats. My impression is that there aren't many lawyers out their seeking to make big bucks from pleasure boat accidents. (Thank God for small favors.) But I suppose if we see a couple of class actions in the area that could change. There isn't enough money in smaller boats for lawyers to 'go for' their manufacturers or their owners. And for larger vessels there's an excellent international insurance market - very competitive - and it's easy for them to register in more friendly locations than USA. Small boat insurance is very similar to car insurance - lots of little people with not a lot of money. Only a few who are really well off. And, unlike cars, very few healthy big corporate manufacturers to chase for product liability. I just don't see Roger's aviation scenario developing. But I do see high risk areas being identified by insurers. Small vessels and hurricane seasons don't go well together. Small, high energy vessels can do a lot of damage. People without skills or experience are more likely to create damage. As for those who have been criticising the profit motive of insurers (and suggesting public insurance) earlier in this thread, most of them did not understand the business model. Insurance is a cash flow business. You borrow cash up front. You invest that cash and make most of your profit from those investments. At statistically predictable rates, you have to pay back these loans. If you assessed your risks well, you pay back a little less than you received and your business grows. And vice versa. But you don't know the answers to that equation until three or four years after the event. By all means let public insurance compete with private insurance. But you need some safeguards to make sure that that cash flow doesn't disappear into the public spending maw. Because it's going to have to be re-paid! By whom? The taxpayer. -- JimB http://www.jimbaerselman.f2s.com/ Describing some Greek and Spanish cruising areas |
#28
posted to rec.boats.cruising
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Insurance early warning?
"prodigal1" wrote in message news On Tue, 11 Apr 2006 15:17:04 -0400, JimH wrote: Public insurance translated means government run insurance.............no thanks. I'm presuming you're American (osudad) and have never had any experience with public insurance, so I have to ask myself on what your rejection of the idea is based. I take it your not an American...........otherwise you would know that whatever our Government touches turns corrupt or bloated with beauracracy........and most inefficient. The one exception is the Post Office. Ideology? pfftt.... There are places in the world where this works very well. As I am sure there are places in the workld where it does not. People get the coverage they want, at rates they find acceptable AND profits go toward public services like schools, roads, hospitals... What's not to like? That's funny! Why are you so bitter about insurance company's? I've had long experience with private insurance.....no thanks. Rates and policies are legalised theft and extortion. They are in the business of making a profit for their shareholders.... My point exactly, their primary reasons for being are not to meet the needs of those paying for their services, but rather to increase profit. Yep. And controled by the States and most importantly the public by simply going to another provider when rates are out of line. And they must also meet the needs of the customers.....otherwise the customer goes elsewhere. It just boggles my mind that so many cannot see the inherent inappropriateness of this scenario. and adjust rates accordingly to attain that goal. Don't like what one company charges....find another. There are plenty to go around. And where I live you can't find a statistically significant difference in premiums between any of the companies. Where do you live? Don't like the high rates you pay because you live in hurricane alley.......then move. Don't live in hurricane alley...top end of tornado alley. I shouldn't have to even contemplate moving because the company I pay large $$ to insure against potential loss, inflates rates to show profits more in line with stock trader's "earnings expectations" than to cover actual losses and still show a profit. Big difference there. We are all paying for the hurricane damage to your boats, cars and houses with our insurance premiums and with our taxes through government subsidies and other government spending. I for one am damn tired of doing so. So pay up or move. Don't ask me to continue to subsidize you though. now I understand, you're allright, but anyone who suffers a loss can go pound salt. No, anyone who chooses to live in a hurricane prone area needs to pay the price for doing so. It is all about choice. Nice. I don't get it. You along with tens of millions of other premium payers will willingly keep coughing up more and more $$ for less and less coverage, all the while blaming the increasing cost of premiums on claimants --which isn't at all the main cause-- and yet never consider for a moment that there might be a better insurance solution that meets the insurance customer's needs first. Absolutely bizarre. You know absolutely nothing about insurance. Your last statement proved it. |
#29
posted to rec.boats.cruising
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Insurance early warning?
"Dave" wrote in message ... On Tue, 11 Apr 2006 20:11:10 -0400, Wayne.B said: While nobody else "forces" people to insure their boats, my impression is that most boats are insured whether or not purchased on credit. If you have assets other than your boat, and hopefully you do, going without insurance is extremely unwise. One serious liability or environmental claim could force you into bankruptcy. If nothing else, the insurance company will defend the claim with seriously competent lawyers, at their expense. That's a slightly different issue. What people seem to have trouble grasping is that insurance is for risks you can't afford to assume yourself. You pay someone else to take on those risks. For those you can afford, you carry them yourself and save the money you'd otherwise pay an insurer. Bingo! |
#30
posted to rec.boats.cruising
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Insurance early warning?
Frankly, most publicly held corporations hand over far more
money to their Board of Directors and particularly to the few selected company officers than they do to their stockholders. Dave wrote: Fees paid to board members in that capacity are pretty small in light of the liabilities they undertake and the time many spend. Bull****. WTF can any one person do that's worth 200 million dollars? Especially when the shareholders are losing money and the employees are losing their jobs? And many officers at the big corps would sneer at this as lunch money. Not even enough to buy a Senator. The publicly held corporation is one of the truest forms of democracy, but it has been widely abused. As more and more people come to realize that their retirement plans are built on quicksand, this will probably become a blazing political issue... and rightly so. DSK |
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