Big surprise from Social Security

[daveag.]

Thanks grandpa but that'll barely get you lunch today. I can see myself saying that some decades ago

That make you smarter than me?

 

[blume357]

well the odd thing is my business liability insurance stayed the same and the personal liability insurance on myself only went up $85. Last year I had to change insurance carriers because the one I had had for probably 20 years decided to more than double my premium.... I finally figured out why.... I was a very high risk since I had had no claims in 40 years.... way past due by their statistics.

 

[JackBull]

well the odd thing is my business liability insurance stayed the same and the personal liability insurance on myself only went up $85. Last year I had to change insurance carriers because the one I had had for probably 20 years decided to more than double my premium.... I finally figured out why.... I was a very high risk since I had had no claims in 40 years.... way past due by their statistics.

Almost everyone's insurance went up. These companies penalize loyal customers that they assume are too lazy to change their insurers.

 

[daveag.]

Almost everyone's insurance went up. These companies penalize loyal customers that they assume are too lazy to change their insurers.

Mine went up with no claims. Shelter is still lower premiums that the others I checked with. Grin and bear it, I guess.

 

[powder smoke]

Insurance is one of those things that you are dammed if you do or if you dont!
In other words you are screwed either way! ps

 

[blume357]

I firmly believe at least the home owner's insurance companies have gotten together and decided they will all throw a certain percentage of their customers back in the pond every year....

 

[NC FNS]

Almost everyone's insurance went up. These companies penalize loyal customers that they assume are too lazy to change their insurers.

Yep. 26 years with Geico with only a few windshield claims and one comprehensive claim for $2,400. Saved a lot switching to Farm Bureau.

Regarding SS benefits, I'll be relying on them quite heavily since I lost most of my pension. I'm glad the election went the way it did, should be better for SS and my small 401k when I retire in a few years.

 

[GasGuzzler]

I know how much insurance is supposed to work. But for the most part I am convinced they are just money hungry scammers. And I used to work for one.

Same.

Funny how people in the industry try to explain the extortion. The defining factor is that if insurance rates are based on everyone else's cost, why does my insurance go up because of a claim, but never down when I go claim-free?

There's a reason most mayors are agents too.