Re: SCREWED by the ins co.

["Stephen Bigelow" <sbigelow@sprint.ca>]

For that matter...just because their name is on the side of the building,
certainly doesn't mean they own it.

> though one little note:  our broker pal said they
> invest their money.  i bet those buildings are an
> investment, as well as good for generating income.
> just a thought, i think it's a bit of a racket
> myself.
>
>On Thu, 6 May 1999 dwall@sisna.com wrote:
>
>]I may not have my finger on the bottom line of Insurance companies, but I
>]have noticed one thing in my travels:  Go to any major metropolitan city
>](Los Angeles, San Francisco, Chicago...) in the United States, drive to
>]the tallest skyscraper you can see, and 9 times out of ten it will be
>]owned by an Insurance Company!  You can't tell me insurance companies
>]aren't making money hand over fist.  Any industry whose services are
>]REQUIRED BY LAW and that has no regulation what so ever is going to
>]eventually become corrupt.  To quote Ferry Porsche, "they sell you
>]umbrellas, and then when it starts to rain, they call in all the
>]umbrellas".
>]
>]Darren D. Wall
>]darrenwall@netzero.net
>]dwall@sisna.com
>]1985 Audi 4000 Quattro
>]1969 911 Turbo-Look 2.7Liter
>]1984 Volkswagen Vanagon (The Bus)
>]1999 Nissan Quest (The Wifes Kid Hauler)
>]
>]
>]   Sorry to hear about your experiences, but I have a different view.
>]
>]   Being an insurance major I happen to know a little about how the
>]business
>]works.  Yes, some insurance companies (less known ones) will sometimes low
>]ball
>]and rip off people.  Don't use them, but if you get hit by someone using
>]an
>]insurance company like that, sometimes you get screwed.
>]
>]   Go with an insurance company that has a high rating from rating
>]agencies
>]like AM Best and Moodys.  And, most importantly one with high consumer
>]retention.  Insurance companies generally don't want to screw over thier
>]customers as they want to keep them and they can better classify the risks
>]of
>]customers that have been with them for a long time.
>]
>]   It is a fact that most insurance companies (practically all) pay out
>]more
>]money in claims than they collect in premiums.  So, they actually loose
>]money.
>]How do they stay in business?  Well, by investing the premiums and betting
>]they won't have to pay out for a certian amount of time.  So, insurance
>]companies have to price thier products at a very fair rate or they will
>]loose
>]to thier competition.  They only stay in business because of thier
>]investment
>]income.  And, they have to choose certian (safer) investments due to the
>]high
>]liquidity of the business and to remain solvency in times of crisis.
>]
>]   The main advice I have to listmembers is to keep good (meticulous)
>]records
>]and reciepts for all work and parts on the car.  If something happens to
>]your
>]car, then you have defence that your car was very well maintained and is
>]worth more than the average car of that age and vintage.
>]
>]   Don't settle for a low ball amount.  You can fight it.  Show them
>]reciepts
>]and what other comprable cars are going for in the market.  But, with an
>]older
>]Audi, you are almost never going to get what you have put into the car.
>]Those
>]are the breaks.  It sucks, but that's life.  Roll with it.
>]
>]   Good luck with it, and I hope you get a fair amount for your car in the
>]settlement.  BTW, Was it you that had pictures of your wrecked car on the
>]web
>]somewhere?  If so, I'd like to know the URL.  I know someone on the list
>]had
>]posted pictures of a totalled 5000 (head-on collision) on the web, but I
>]missed
>]it.  It was supposedly pretty badly totalled.
>]
>]   Later,
>]   Dan
>]
>]
>]
>]
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>
>--
> rocky mullin
> http://caliban.sf.ca.us/
> two strokes are faster than four!
> this message was composed using the vi editor.
> '83 ur-q - yamaha rz350 - suzuki ts250 -  chaotic good
>