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Re: [TowerTalk] homeowners insurance

To: "Jim Jarvis" <>, <>
Subject: Re: [TowerTalk] homeowners insurance
Date: Fri, 24 Mar 2006 14:21:52 +0000
List-post: <>
Simply the Golden Rule - "He who has the gold - rules"

Insurance companies will be the second people up against the wall come the 

-------------- Original message -------------- 
From: "Jim Jarvis" <> 

> Although insurance companies are in business to make money, 
> they've gone through a distinct change in the last few years. 
> In part, this is due to another profit-seeking enterprise, 
> called CLUE... Comprehensive Loss Underwriting Exchange. 
> It gathers data from all sources about....YOU....and 
> shares it across the industry. Actually, it SELLS it to whomever 
> is willing to pony up. For 39 bucks, I can find out your complete 
> credit history, licensing history (cars, boats, planes, radios), 
> any interaction with law enforcement...any judgements, etc. 
> The insurance industry was riding high, reaping major profits from 
> invested premiums, until the big hurricanes of the 90's years 
> rolled across Florida and racked up tons of damage. Then there w 
> as the billion dollar loss from 9/11, which wracked the reserves 
> of the co-insurance companies. (yes, even insurance companies lay-off risk) 
> So...the pot of premium cash is pretty thin these days, and 
> investment profits are way down. 
> The result? In the US at least, if you've had a claim on 
> your homeowners policy...and it's significant...prepare to 
> be cancelled. Have two claims in a year? I guarantee you'll 
> be cancelled. 
> Now, that's well and good...but it goes beyond that. I had my home, 
> auto, boat, and umbrella liability policies with Aetna for 30+ years. 
> They sold to Travellers. THEN I had a claim...backwash of a hurricane 
> rolled through Vermont, broke off stuff from high pines which damaged 
> my roof, and knocked over a big oak which wiped out a tower guyset, 
> totalling that. 
> They counted it as two claims, although from the same event. They paid. 
> I was cancelled. But they also sent notice of refusal to renew my auto, 
> or liability umbrella. Poof. 30+ claimless years, and off you go. 
> THAT wouldn't be so bad, but they saw fit to share that information with 
> the rest of the insurance industry via I'm finding it difficult 
> to get coverage for home or liability umbrella, even at rates which are 2-3x 
> that of market. 
> I would be careful of even reporting a POSSIBLE claim, even though your 
> sales agent encourages you to do so, and then vacate it. I had a big tree 
> hit the VT house, and reported it. Two days later, when we had cleared the 
> debris, I advised them that I was vacating the claim, that no real damage 
> was 
> done. When they cancelled my contract, they indicated the counted that 
> event 
> against me, as well. 
> This is NOT a homeowner friendly industry. 
> n2ea 
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