The government gave me a license to be a crook, just like an FFL
Snicker...giggle...
Snicker...giggle...
Its catastrophe coverage. The wording of the endorsement is poor and is technically "earth movement" coverage. So the settling of a home would be covered and instead of filing new forms with the state and going through that process all while considering an earthquake claim has never been paid in Oklahoma it's worth it.
As for insurance being "crooks" it's just a legal form of gambling in my opinion. In the last few years most people have been winning that gamble though....substantially.
Anyway i'm just trying to help, not get in a debate.
I didn't mean that personally to you man.
I know you didn't and I didn't take it personally. Just having been in the industry for so long I can start a debate about the validity of it unintentionally....
You talk to enough people that pay $1500/yr and have gotten $40k worth of repairs in the last 4 years and they flip out over a $150 rate increase and you get kinda defensive. lol
They all go from needy to greedy at some point.
The government gave me a license to be a crook, just like an FFL
Yeah, I am really ripping people off.
State Farm won't add earthquake insurance to my house because it has a rock/masonry exterior with some cracks in it. I thought this was odd, even if an earthquake knocked it all off you could just pick it up, knock the mortar off and put it back up.
Do you all really need quake insurance? I know you've have some earthquakes lately but not really much to worry about, IMO. My house is in the ot bed of earthquake faults. Our home was built in 1959 and was not built to withstand earthquakes like the are now and we have never had a problem while past quakes have maybe cracked some drywall around the widow openings nothing bad has happened.
Aren't your new homes in OK built to with stand higher wind loads than than normal? We have looked into getting the quake ins and the costs is about $600/year . One interesting thing I found out when speaking with the insurance gal was that if we had a big enough earthquake to really do damage to the house and during the damage a gas line broke and caught the house on fire it is the standard homeowners policy that would pay and not the quake coverage.
Aren't your new homes in OK built to with stand higher wind loads than than normal? We have looked into getting the quake ins and the costs is about $600/year . One interesting thing I found out when speaking with the insurance gal was that if we had a big enough earthquake to really do damage to the house and during the damage a gas line broke and caught the house on fire it is the standard homeowners policy that would pay and not the quake coverage.
I was making a joke with RD but if you really think that about P&C insurance companies, just opt out of insurance coverage and I'll wish you best of luck. They pretty much break even on claims paid and expenses when compared to premium income, with some money in there for profit (which is why business operate, though the margins on insurance aren't near what people think they are; they just have to write a lot of policies in order to make profit).
Life and Health insurance is a whole other animal.
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