[Towertalk] Insurance companies-->Coverage

[Robert Shohet]

> Maybe cynical, BUT, remember insurance companies are not in the business
to
> give you money, they are there to collect premiums.

No, you apparently do not understand the business of Insurance.  Insurance
is about money management:

1) Adequately pricing their risks for which they charge premiums
2) Managing the money they get paid and investing it well, keeping generous
amounts in reserve to pay claims
3) Adequately investigating claims and requiring documentation of certain
claims
4) Paying IN FULL, all valid claims, to the extent covered by the policy
5) Encouraging loyalty to stay with the company by quickly and fully paying
all valid claims - it costs FAR LESS to keep an existing customer than
advertising for and underwriting for new ones.

All quality insurers practice the above-mentioned practices and more.  They
make money by RETAINING customers, not by screwing them.  You don't retain
customers by refusing to pay what they are lawfully owed under their
policies.

>I have seen too much  of how the company spends a gread deal of effort to
exclude as much as
> possilbe at payments time and include much at premium time.

All companies should exclude things that are not covered under the policy.
To do otherwise would be costly and irresponsible to other premium paying
customers.  Insurers are not in the business of providing free money to
those who feel entitled - they are in the business of collecting premiums
for specific coverage and paying out only valid claims.

There are literally several thousand US and Canadian insurers.  Specifically
which one are you referring to?  Or would you have us believe that all
insurers cheat their customers?

> Ask for it in writting, find out what happened in other cases, and when
you
> can "self-insure".

This is always good advice.

Bob KQ2M