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Mean minded Insurance council

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Viewing 15 posts - 16 through 30 (of 45 total)
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  • #398047
    GiannaGianna
    Member

    Mmmm, this one is tough. I’ve been thinking a lot about it myself. What would be so wrong with a levy on your mortgage to cover the replacement value of your home? You’d think you couldn’t have a mortgage without insurance but it IS possible. I know someone in that situation.

    They have a mortgage and can’t afford insurance. Mind you, they CAN afford cigarettes for both of them, mobile phones, Foxtel, High Speed Internet, take-away food, and so on and so forth. I know them well. :confused:

    3rd party insurance is built into our car registration, is it not?

    #398048
    toosusietoosusie
    Member

    I know what you mean Gianna. I think we all know somebody like that but I truely do believe they are few and far between. A levy would be an alternative but we are talking about a lot of money here and I don’t think any private company or bank should have access to it which is why I suggested rates. At least then the locals get the benefit of any money the council makes while holding it.

    As has been stated already some areas can’t get insurance for certain things even if they wanted to and although I’m sure we all do the best we can with what we have when something as freakish as black saturday happens all we can do is learn and implement anything we can to improve.

    What really troubles me is the meaness we see today. I often hear people talk about dole bludgers and single parents etc. in derogatory terms but when I ask who they personally know who’s doing such things they can never name anybody other than what they see on TV. Now if these peopple were the norm then surely we’d all know somebody like that but I don’t. Sometimes I just wonder if people are so lacking in power these days they get a kick out of making themselves look better by making others look worse.:shrug:

    I live in a battlers area. When something goes wrong we all help each other. When I was working in an affluent area and somebody fell they would seem to enjoy it because it meant they moved up another rung on the ladder. I don’t know if I’m getting more cynical as I get older but it seems to me our society is breeding a lot of this unrest itself. Where once the elderly were mentors, communities pitched in to help the needy family up the street, the kids all had a parent at home and could get away with nothing without a neighbor seeing them and telling the parents, the kids were more afraid of the parents than the police etc. etc. etc. Now it’s all about money. When you talk about being responsible most people seem to see it as a money related thing. Trying to get them to see responsibility is also about being a good morally upright citizen and guardian of the planet and they can’t seem to make the connection without an immediate reference to finance.

    All I know is I don’t want to be like that and if you ever catch me slip up tell me so I can give myself a shakeup. Meantime I’ll just continue trying my hardest to be the change I want to see :metal:

    #398049
    narellehnarelleh
    Member

    third party ins in car rego is not for property tho – it is for personal injury in case of accident – is not it??:shrug:

    #398050

    Learning wrote:

    Reid, my father had hail damage to a tin roof. Banked the insurance cheque and never fixed the roof. He thought they were crazy for paying out on something that was only cosmetic.

    But then he would never be able to make another claim on his roof, for storm damage for example.

    On one part of the house we had a back deck we wanted changing, so we asked could we get a payout and renovate it ourselves, because it would be pointless for the insurance to replace it with how it is now and us coming along to replace it later. It was no problem getting the payout, but with the caveat that till it is fixed or replaced then it is effectively uninsured.

    #398051
    deeedeee
    Member

    Most insurance companies won’t cover flood where I live either. Seems that they won’t take the risk. But they’ll happily take flood insurance money from my mother who lives elsewhere and is about as likely to get a flood as we are to get a white Christmas. I bet the same thing will start happening with bush fires in some areas. The old “you knew the risks” line. Yeah, we did know the risks, that’s why we paid you lot so much money!

    I couldn’t live without insurance: our house and contents are our only real financial assets and living without insurance is not a risk I am willing to take. Fortunately, I can afford it for the moment and I’ve never had to use it (touch wood).

    People have given their aid willingly, in the spirit of charity. What a shame the insurance companies can’t get the message. Another case of the lunatics in charge of the assylum

    D

    #398052
    LearningLearning
    Member

    I guess he wasn’t worried because he already had the money for full replacement cost.

    #398053
    GiannaGianna
    Member

    narelleh wrote:

    third party ins in car rego is not for property tho – it is for personal injury in case of accident – is not it??:shrug:

    That’s correct Narelle. I just used it as an example because it wasn’t always built into the registration. Our rego used to be a lot cheaper once. We used to trust people to be responsible enough to take out insurance on their vehicles to protect other people and their property. Many didn’t, so that’s why an insurance component was added to rego to protect the 3rd party if they were injured.

    #398054
    SpriteSprite
    Member

    The only way I can see to make money out of insurance companies is to short sell their stocks on the stockmarket.

    Been saying this for years (to anyone who cares to listen) as the insurance industry is heading south, permanently.

    Pity the short selling ban is still on the ASX (well it was when I last checked, it might have been lifted now)

    #398055
    toosusietoosusie
    Member

    😆 Sprite :clap:

    Put that insurance money in the bank, get paid interest and when a need arises there is no paperwork to read the fine print in. The money is there no questions asked. Brain washed is not for me I’m afraid :shrug:

    #398056

    toosusie wrote:

    😆 Sprite :clap:

    Put that insurance money in the bank, get paid interest and when a need arises there is no paperwork to read the fine print in. The money is there no questions asked.

    That’s a good plan! provided disaster strikes after you have enough. It would be pretty tough if the personal insurance fund was short.

    #398057
    toosusietoosusie
    Member

    Jeez Reid. How many insured were caught short? Not enough cover etc.etc.etc. I’m not saying don’t prepare for the worst…..but when I see adds about life and death insurance etc. I have many experiences to refer to. There are still extra costs for funerals ( give your body to science cost free so you don’t need a funeral and help mankind in 1).

    Doesn’t matter whether you die of suicide or cancer the funds are still there for your family.

    I want my body recycled as well. My neighbour ( a wonderful single dad) needed a kidney recently. God bless the soul who gave it to him and his son. They appreciate it and love flows not insurance premiums.

    :tup:

    #398058
    toosusietoosusie
    Member

    Jeez Reid. How many insured were caught short? Not enough cover etc.etc.etc. I’m not saying don’t prepare for the worst…..but when I see adds about life and death insurance etc. I have many experiences to refer to. There are still extra costs for funerals ( give your body to science cost free so you don’t need a funeral and help mankind in 1).

    Doesn’t matter whether you die of suicide or cancer the funds are still there for your family.

    I want my body recycled as well. My neighbour ( a wonderful single dad) needed a kidney recently. God bless the soul who gave it to him and his son. They appreciate it and love flows not insurance premiums.

    :tup:

    #398059

    Sprite wrote:

    The only way I can see to make money out of insurance companies is to short sell their stocks on the stockmarket.

    Been saying this for years (to anyone who cares to listen) as the insurance industry is heading south, permanently.

    Pity the short selling ban is still on the ASX (well it was when I last checked, it might have been lifted now)

    The short selling ban is due to be lifted on Friday, Sprite, but may be extended.

    I find this insurance thing a bit of a dilemma. Whilst I am sorry for people who couldn’t afford insurance and lose everything, I wouldn’t want my taxes paying out uninsured people who build their McMansions on sand dunes on the waterfront. If everybody paid insurance the premiums would be cheaper. However, with extreme weather events predicted to become more and more frequent, insurance is going to become very expensive. Maybe nobody should pay insurance and the govt. (i.e. the community) should pick up the tab for all natural disasters, then the insurance company staff could all go and get real jobs and we wouldn’t be paying for insurance company profits.

    P

    #398060
    toosusietoosusie
    Member

    Well said KB and sprite. Go the people power. Forget corporate welfare for mine.:metal:

    #398061

    toosusie wrote:

    Jeez Reid. How many insured were caught short? Not enough cover etc.etc.etc. I’m not saying don’t prepare for the worst…..but when I see adds about life and death insurance etc. I have many experiences to refer to. There are still extra costs for funerals ( give your body to science cost free so you don’t need a funeral and help mankind in 1).

    Doesn’t matter whether you die of suicide or cancer the funds are still there for your family.

    I want my body recycled as well. My neighbour ( a wonderful single dad) needed a kidney recently. God bless the soul who gave it to him and his son. They appreciate it and love flows not insurance premiums.

    :tup:

    I thought we were discussing property insurance :shrug: Didn’t realise we changed tack to life insurance :confused:

Viewing 15 posts - 16 through 30 (of 45 total)
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