Why No One Likes Insurance Companies

[Booser]

http://www.usatoday.com/money/2004-0...a-insure_x.htm

This just stinks. My family lives in Miami - Pops says that it is state law to carry hurricane insurance, but only on company offers it. Is this true? Sounds like a monopoly to me.

[akhhorus]

keep in mind this is the same industry that only wanted to pay out half what was promised to the NY port authority for the WTC destruction because "it was only one attack and one payout for the one attack". Which they eventually lost.

[GolfFreak]

That's tough, but if we got in two car accidents we'd pay our deductible twice ... I know it's not quite the same. I know it's like pour salt in open wounds, but hopefully more than not were insured. I was shocked to read that the deductibles are a % of the home's value and not a flat amount ... now that part blows!!!

[TexSkin]

Man give the poor people a break....stupid insuarance compaines.

[Axegrinder]

I'd heard today on CNN,that each hurricane has a seperate deductable.If you get hit by more than one,it gets expensive.
Let's say that you have a $200,000 home.
The deductable is 10%.That makes it $2,000 each hit.If you get slammed by Charlie [$2000].Then Frances[$2000].Ivan[$2000].That equals $6000 in one month .That's crazy!!!

[IowaSkinsFan]

That's why I got out of the insurance business.

[SkinsKY]

Originally Posted by Axegrinder

I'd heard today on CNN,that each hurricane has a seperate deductable.If you get hit by more than one,it gets expensive.
Let's say that you have a $200,000 home.
The deductable is 10%.That makes it $2,000 each hit.If you get slammed by Charlie [$2000].Then Frances[$2000].Ivan[$2000].That equals $6000 in one month .That's crazy!!!

10% is actually $20,000 each hit which means $60,000 if you're hit by all three.