the aftermath
I predict that the next great battle we will see in the news will be an insurance battle. All these homeowners will need insurance payments to rebuild their homes. I also predict, though, that the insurance battle will not be nearly as bad for the Californians as it was and is for the Gulf Coast Katrina victims. The cause of the damage and destruction is very clear-cut – fire – and generally fire is included in homeowner’s policies. For Katrina victims, they had to fight because the cause of their damage was much vaguer. There was the flood, and the wind, and the fires started due to electrical problems, and more wind and flooding. The insurance companies used that to try and weasel out of paying for the homes to be rebuilt.
I’m not the only one with opinions about the Californians’ insurance coverage. Check out this story on CNN.com.
I’m not the only one with opinions about the Californians’ insurance coverage. Check out this story on CNN.com.
posted by Tidy Bowl at
12:09 AM
2 Comments:
Ya know, it's very common for people to point at, as an example, insurance companies and make them scapegoats for every ill in society- it's also very ungodly. An insurance policy is a contract. For a fee, a person insures something for certain hazards. They can choose to purchase more insurance for hazards not covered under the basic policy. When something happens- something tragic- and it's not covered, the sympathy factor turns to vengence & bitterness against the insurance company. Well, here's a few "insurance thoughts"..
1) YOU, and tens of millions of other people would not be able to own a home today without your insurance company underwriting your risk for you. Do you really think you can waltz into a bank and but a $250,000 house with no money down and no collateral except for your charm? Please tell me you;re not THAT innocent. They do so for one reason- you have an insurance company willing to assume YOUR risk of $250,000 for $100 per month. THAT'S why the bank gives the loan.
2) The same principle applies to your vehicles. Why do you get these loans with nearly no money down? One reason alone- there's an insurance company assuming a large oart of your risk for a nominal fee.
3) Ships, airplanes, hotels, manufacturers rely on the risk their insurance companies are willing to assume or they would not be in business. Like your soft bed? Without insurance you wouldn't have it. Like to travel? not without insurance.
And what do insurance companies get for their risk?
Massive fraud and hundreds of thousands of bogus lawsuites. Over 60% of the money paid for insurance goes directly & indirectly for fraud and fighting it. But who cares? It's the big bad insurance company.
Also, guess who funds over 75% of health research? Insurance companies. There would be no MRI's, mamograms, life saving RX & surgeries without insurance money.
And what about the hundrends of millions of people who's insurance companies covered their risks, paid their bills, replaced their houses & cars? Saved the life of the family members?
Well, they're just dirty rotten weasels. The bane of society.
But the next time you see someone enjoying their house, their car, their health... it wouldn't have been possible without the insurance companies and the risk they assume for those same people every day at a nominal price.
Oh young one, I would advise to carefully consider things before roundly trashing them- both people or insurance companies or otherwise. It's a bad habit, ungodly, and poor salesmanship.
By
BLAZER PROPHET, At
October 25, 2007 8:05 AM
Ah, Blazer Prophet, my older and (as you infer) oh-so-much wiser friend...
As an unwise and naive young blogger, I humbly offer these thoughts...
1) You so clearly do not know me. I, as much as if not more than the rest of society, depend on the security offered by my insurance companies and am often the first to defend them in a debate.
2) In this post I referenced Katina victims who struggled to receive insurance payments. After the hurricane, many companies refused to pay for the damage because the policies covered "hurricane damage" but the homes were damaged by the storm surge (flood) and the policies did not cover flood damage. Here's an article explaining the issue with one insurance company.
3) Insurance companies - at least, the good ones - are for-profit businesses. When they refused to pay for homes to be rebuilt due to these technicalities in the policy, they received a massive amount of poor publicity. I know this because I almost became a journalist and still follow the national and international news very closely.
4) When those insurance companies received so much bad press, that was bad for business. I know this because I am a businesswoman, and bad press is one of the worst things that can happen to a business.
5) I can tell that you do not know much about blogging. I know this because you do not have a blog. You only have a username.
6) I know enough about blogging to know how to write and link in a manner as to attract readers. I know this because I have been blogging for well over two years now, and I have to be a good blogger because I earn a living from my blogging.
7) By the way, Blazer Prophet, are you an insurance salesman? That's the only explanation I can find for your defensive nature regarding my post.
Blazer Prophet, I may not be as old or as brilliantly wise as you, but I am not stupid. I appreciate your comments, even though I suspect in this case you've only made yourself look ungodly in the process.
By
Tidy Bowl, At
October 25, 2007 2:17 PM
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