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SVTPerformance's Chain of Restaurants
Road Side Pub
Do you think insurance is a scam
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<blockquote data-quote="AustinSN" data-source="post: 16318400" data-attributes="member: 159453"><p>Man, I could reply to a lot in this thread but it would take me all day.</p><p></p><p>Is it a perfect system? No, but it does have value.</p><p></p><p></p><p></p><p>Uh...</p><p></p><p>Literally a week and a half ago I quoted someone who had an "at-fault" which I found out through a letter of experience (and from speaking with the insured) that it was indeed a not-at-fault accident. </p><p></p><p>I contacted the prior company, they verified it was submitted wrong to the CLUE report and they adjusted it (for the future). As the agent I was able to change the "at-fault" to a "not-at-fault" in the system to adjust the rate. I emailed in documentation, poof, done.</p><p></p><p>If you have anything that's a mistake on your record/clue report, you can contact the company to change it. If they refuse, you need to stop paying shit companies for insurance.</p><p></p><p></p><p></p><p>Being in insurance I see claims every single day. One of my good buddies (who I didn't insure at the time, before I worked in insurance), had a minor rear ending when he was a kid. It was about $900 total in property damage IIRC (the dude who was rear ended had a passenger in the car who was sleeping, and didn't wake up from the accident), so really minor. My buddy, and his parents (because teenager), were sued for just a gnats ass under $1M. </p><p></p><p>The insurance company went to bat for him because that's what reputable companies do, spent like a year and a half in the courts and eventually settled on like $275,000 (which the company paid). That's not a "big" claim in terms of what we see but that's a life changing amount for almost everyone. Can you imagine losing everything you have over a $900 accident in stop and go traffic? </p><p></p><p>Are you still insuring your house? </p><p></p><p>If you own it outright you don't need to, but you still carry liability if someone trips on your sidewalk and breaks their leg (had one last year), kid illegally trespasses and drowns in your pool (heard about one just a few weeks ago), deck collapses during a party and you get sued by several people (few years back), your kid throws a party while youre out of town and 2 drunk teenagers get in a fight, one of which cracks the skull of another kid (back when I first started).</p><p></p><p>That's liability only (and just a few examples of many, many losses over the years), which barely scratches the surface of the majority of the claims we see. Every one of these situations would be enough to bankrupt even upper middle class people and put them on the street.</p></blockquote><p></p>
[QUOTE="AustinSN, post: 16318400, member: 159453"] Man, I could reply to a lot in this thread but it would take me all day. Is it a perfect system? No, but it does have value. Uh... Literally a week and a half ago I quoted someone who had an "at-fault" which I found out through a letter of experience (and from speaking with the insured) that it was indeed a not-at-fault accident. I contacted the prior company, they verified it was submitted wrong to the CLUE report and they adjusted it (for the future). As the agent I was able to change the "at-fault" to a "not-at-fault" in the system to adjust the rate. I emailed in documentation, poof, done. If you have anything that's a mistake on your record/clue report, you can contact the company to change it. If they refuse, you need to stop paying shit companies for insurance. Being in insurance I see claims every single day. One of my good buddies (who I didn't insure at the time, before I worked in insurance), had a minor rear ending when he was a kid. It was about $900 total in property damage IIRC (the dude who was rear ended had a passenger in the car who was sleeping, and didn't wake up from the accident), so really minor. My buddy, and his parents (because teenager), were sued for just a gnats ass under $1M. The insurance company went to bat for him because that's what reputable companies do, spent like a year and a half in the courts and eventually settled on like $275,000 (which the company paid). That's not a "big" claim in terms of what we see but that's a life changing amount for almost everyone. Can you imagine losing everything you have over a $900 accident in stop and go traffic? Are you still insuring your house? If you own it outright you don't need to, but you still carry liability if someone trips on your sidewalk and breaks their leg (had one last year), kid illegally trespasses and drowns in your pool (heard about one just a few weeks ago), deck collapses during a party and you get sued by several people (few years back), your kid throws a party while youre out of town and 2 drunk teenagers get in a fight, one of which cracks the skull of another kid (back when I first started). That's liability only (and just a few examples of many, many losses over the years), which barely scratches the surface of the majority of the claims we see. Every one of these situations would be enough to bankrupt even upper middle class people and put them on the street. [/QUOTE]
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Do you think insurance is a scam
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