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Mean minded Insurance council

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Viewing 15 posts - 31 through 45 (of 45 total)
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  • #398062
    toosusietoosusie
    Member

    What’s the difference. They all have the same small print. Also know many who’ve suffered from property and car claims not being paid out. One was a Suncorp client. He isn’t any more. Bank that premium or buy land. It keeps pace with inflation unlike insurance generally i.e. earn more than bank interest if it’s in the right area.:metal:

    #398063
    GgangGgang
    Member

    I am another who thinks insurance is a rip off :tup:

    it is a whole industry built on selling fear :@ they are getting very rich on your fear

    I am sure once TSHTF insurance companies will be one of the first to go broke – well its happening now with AIG

    and dont think that if more people had insurance it would get cheaper 😆 the parasites would just get richer

    G

    #398064
    Lady BeeLady Bee
    Keymaster

    For those who don’t believe in insurance, let me pose a scenario and ask how you would cope.

    You have a house with a mortgage. You’ve gone off to work/whereever and something happens – doesn’t matter what – and you return home to find your house has burned down, everything is destroyed, buildings and contents. It’s not an event of national significance, just your plain old ordinary house fire.

    Where will you live? How will you start again? How will you continue to pay your mortgage?

    I’m not trying to provoke anything – just interested to know how people have planned for something like that.

    B

    #398065
    SpriteSprite
    Member

    Ggang wrote:

    I am another who thinks insurance is a rip off :tup:

    it is a whole industry built on selling fear :@ they are getting very rich on your fear

    Actually, its not. Its an industry built on RISK.…and perceived risk.

    I’m studying some quite fascinating stuff at the moment about risk….and how its changed in the world in the last 50 years. Even 20 years ago risk managment and risk assessment were phrases the average person thought were gobbledegook. Now they are buzz words.

    The new risks that we (and insurance industries) currently face are:

    -They are without precedence (eg: climate change)

    -There are uncertainties on what it means to burden future generations with outputs of new technology (eg: nuclear waste) and there is no way of reducing that uncertainty

    -There is a shift from perceptions of “dangers” to perceptions of “risk” eg: shift from risk of earthquake to risks created by scientists implementing nanotechnology

    -The impossibility of distinguishing between objective risk and perception of risk by different observers (eg: scientists versus bloke on the street both have different perceptions on the risks of smoking)

    This is all pretty hard to grasp but the main point is that technology has created new risks which 20 or 50 years ago either didn’t exist, or we didn’t have enough information about them to perceive as being a risk.

    So both the insurance and private industry now have to assess risk everyday. My hubby for example spends 40% of his working week undertaking risk assessments, risk analysis, or doing risk management. He thinks its a huge waste of time but has to do it to comply with more sophisticated government regulations in his industry. Perhaps 1 out of 10 risk assessment he is obliged to run actually result in the identification of a real risk – and saves lives. 1 out of 10 is not a result a company can view as fair return on investment (time, labour, resources).

    Interesting times ahead.

    Thanks for reading 🙂

    #398066
    toosusietoosusie
    Member

    Lady B I’d do exactly what I did the first time. i.e. visit wrecking yards and op shops. Plant the veges immediately. The lower your mortgage the more likely you are to do well. I never borrow more than I could repay in a worst case senario. i.e. if I was reduced to an unemployment, sickness or carers etc. benefit of some kind. No need to have a clean out. I’d be wiser about what I bought second time around. You do have me wondering about my plastic brew kit though…..mmmmm might have to invest in a flashy stainless deal now.:lol:

    #398067
    jilumasamjilumasam
    Member

    I did have a mortagage about 5 years ago, and I scrimped and saved to have the house insurance so I wouldn’t be left with a mortgage if the house went bye-byes. The value of the mortgage was too high for me to take that risk…

    Now I don’t own the house anymore, have no debts (which I did have when I had the house) and I rent. If the house burned down, I’d be relatively OK as long as my “emergency bag” made it out in one piece. Anything else is a bonus.

    If I did have to start again the first thing I would by brand new is a bed (bad back) everything can be 2nd hand until I get on my feet again. So the risk I’m taking is that in order to have food and stay warm now, I am accepting the risk, that I could lose it all at any time. Pretty fair deal as far as I’m concerned.

    As for relying on charity and assistance from others to set up. If people wish to help then so be it, I’m not going to turn down help, knowing that someday I will be able to help someone else out.

    Sprite’s comments on risk are spot on. I think part of the problem is media and society and profit making organisations are defining our risks for us… and like everything else in this world, we need to work out our on comfort levels for the risks we want to take with our health, lives and possessions.

    Lizzy 😀

    #398068
    LearningLearning
    Member
    #398069
    narellehnarelleh
    Member

    toosusie, where would you live tho??

    #398070

    We have spent years getting our contents, and losing it all would be too much of a body blow to have to go out and find the money to replace it, So I think contents is as important as building insurance if the value is more than you can handle losing.

    #398071
    toosusietoosusie
    Member

    narelleh I’d live in a tent or the local caravan park to be close to the rebuild.RA I think you hit the nail on the head there as far as risk assessment is concerned

    if the value is more than you can handle losing.

    #398072
    shadowdancershadowdancer
    Member

    All I have to say is, I wished I had have had insurance on my contents when I was a single parent. I had my entire house contents taken! Right down to my daughters (3 year old) toybox, and her toys tipped out on the floor. Took everything that wasn’tnailed down.!!! I worked hard to get that stuff, took me around 6 months to buy my microwave, which was the bottom of the range!

    Sometimes when all is said and done, you really need to assess the situation and see what you could live without! Funny what you figure you can’t live without until you try!

    #398073
    toosusietoosusie
    Member

    I think the area you’re in forms part of that risk assessment shadowdancer. As does your relationship with the community.

    Mt Ben I think you’re quite right about no insurance no handouts. I wouldn’t ask for any but if I felt I’d be left in a position of needing them I’d have insurance.

    A lot depends on what your house is built of and your reliance on ‘stuff’.

    #398074
    shadowdancershadowdancer
    Member

    At that time in my life, I had no insurance as I couldn’t afford it. Was paying full rent, and raising a little girl on my own, and would from time to time, go without food so that she had enough. I had no animals to take care of, and was, for all intents and purposes, struggling along, but I can’t say it enough…I was happy!!! weird really, but I didn’t have much. The small luxuries I did have, like my stereo, were given to me for my birthday the month before, and were pinched when I went to work one day.

    From that day on, I stepped back, re-evaluated what I needed, and bought stuff accordingly, including insurance! 🙂 My biggest insult however, was when the police woman came to the door, and said she thought it was an insurance job! I was completely furious! I can’t stress that stress alone almost made me shove her out my door! But I did ask her to leave (through gritted teeth) and allowed the policeman with her to ask the questions. Told him how bad it was for me at that time and to have that said? was sooo not impressed!

    So, it’s definately insurance all the way now, no matter if I need it or not, and I’ve got to take pics yet 😀 If anything I would surmise that Im actually over insured, but hey? can’t always say – It’ll never happen to me!

    #398075
    ThisildoThisildo
    Participant

    When I threw money into the donation tin for the fire victims I didn’t know or intend for it to help insured victims only.

    Who is making these decisions about who gets what?

    #398076
    toosusietoosusie
    Member

    I didn’t throw any money “into the tin” because we knew somebody personally who’d suffered. I’ve never trusted charities and after seeing half of this money going to people who aren’t personally victims I’m glad. 100% of what we gave went to a real victim and their family. I have no regrets. This society has become too greedy, arrogant, judgemental and dishonest in general and it shows in many of those decisions sadly. It’s led me to believe in making a difference in direct contact with needy only. I don’t need any recognition for what I do but I love doing it on a personal level (often anonymously) just as others have done for me in the past. It helps to build a stronger community too :tup:

Viewing 15 posts - 31 through 45 (of 45 total)
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