A nuclear level heat pepper would make a good choice for a suppository for my Homeowner's Insurance agent.

 

No snow to speak of here though may be some today or tomorrow. Headed down to UofM Ann Arbor hope not a snow storm till we get back....

 

Norm looks very good only I prefer one kind of cheese at a time don't care to mix blue with cheddar

 

Jim - Duly noted. The salad was delicious. I mix my salads in a stainless steel mixing bowl. What I've learned to enjoy the most is I combine blue cheese w/ raspberry vinaigrette - about 8 parts blue cheese to 2 parts raspberry vinaigrette (4:1).

 

Supposedly, someone is buying the engine hoist/lift after 2PM. I'm not looking forward to Homeowner Insurance conversations, today; but, they're going to take place. Just so you all have a glimpse of why this is coming to a head, the North Carolina Insurance Commission proposed a (sit down for this one) 71% rate hike for Homeowner Insurance in my county. I'll have to look at the numbers (again), I believe they settled on a rate hike increase of ~27.5%. Doing the math it appears my rate hike increase is ~25% on my homeowner hail/windstorm policy. I haven't received my standard homeowner policy (fire, theft, etc.), yet. I'm in sticker shock. Wind/Hail/Storm policies are separate from standard Homeowner policies here. Standard Homeowner policy does not cover wind/hail/storm; and, neither of those cover flooding.

 

Do you think this is due to more storms in your area? Our policy nickel and dimes us with lots of little add ons. Home systems (water tank, AC unit, generator etc) utility lines (gas lines to my shops, and septic system) and a separate sewer backup coverage. These are all fairly cheap at 100 ish a piece a year. but all the main things are covered under our regular policy

 

Matt - You're very close to being spot-on. I've owned inland homes in several different states over the years - standard/regular policy was inclusive of wind/storm/hail. Not so w/ ocean coastal properties prone to tropical storms (e.g. hurricanes). You'd think they'd roll it all into the same (one) blanket policy. Flood insurance is always a standalone separate policy. I guess they provide homeowners the option to elect out of wind/storm/hail as they do flood insurance option. Isn't it just the most annoying thing to read every single year the little quips and tidbits of every single add-on & changes to policies to reduce their burden of payouts. Drives me bonkers.

 

My agent loves us, We carry everything basically, including earthquake (New Mardrid fault here). We have the homeowners, 2x life, 3 modern cars 1 classic car, and an umbrella policy.
I've probably bought that guy a nice boat over the last 18 years.

They will not let me insure my two unfinished project cars, so that kinda sucks. I think when I get one or both of them done, I am going to look for a dedicated classic car insurance company.

 

I reside in Carteret County. You can do the math.

 

Let's face it. ALL insurance companies create insurance "pools" yes, there is a solid basis for location. Yet, not ALL those paying or qualifying for insurance are placed into the same pool & often times these "pools" are a lump-sum of all members contained w/in a pool w/ very limited pool differentiators - pools which exist at the will of the insurance company and insurance "agents". My credit rating = 809, I have no claims, I have an exceedingly well maintained home + dwellings + landscape. So, am I contained w/in a "pool" of members with a very low credit rating, with several insurance claims and a home of sub-standard compliance? These are my arguing points. If the insurance companies elect to place a greater burden on those they insure, then I as a homeowner can elect to reduce this burden the best I can.

My parents always told me and it's a wise saying I believe: Never go insurance poor. It's like deciding which fire hydrant I'm going to raise my leg & **** on - should be an interesting week of discussions.

 

Round 1

Insurance agent conversation went exceedingly well. Looking forward to at least one or several quotes by EOD.

 

Norm - I'm glad it went well and I hope it continues to go well! You may, or may not, remember I went thru this with my Homeowners last November. My current company wanted to jack my rate bt 31% and my eyes bugged out of my head! Now, in fairness, part of that increase was due to increased valuation (up $50K) of the home/property. They would not even agree to insure the home at all unless I agreed to their replacement valuation. This increase in valuation I know has been spurred by the latest sale of new homes in our subdivision, the latest being the 3 right behind us. After calling almost all the major Insurance carriers and getting even higher quotes, my only smart play was to bite the bullet and stay where I was. As part of this process I called my BIL who is an extremely successful Farmers Insurance Agent, I'd say too successful! He told me Farmer's is jacking up their rates Nationwide by more than 25%, more in some areas, and they are not even allowed to write any new policies in Missouri at all until further notice. Sounds to me like the entire Insurance industry is in turmoil and we're all paying the price. I like your analysis and the angle you're taking to combat the proposed increases, I hope it works!

 

Chris - We'll see how it goes - baby steps. And, like most home owners (most likely) I maintain a very low deductible. The truth is I am not going to be insurance poor. Could I take a direct hit from a hurricane which removes my entire roof - not the shingle tabs, not the shingles, not the fascia, but removes &/or shifts the entire roof at a rough estimate of ~$65K (low estimate). Yeah. With a standard deductible for a named storm of ~1% market value I'd be out of pocket X amount of $$. If I increase my burden by increasing my deductible I need to determine what is and what is not manageable/acceptable. Playing the numbers game.

Very doubtful I'd be playing much golf, though.

 

NORM DO THE math on what you are paying for a low deductible, .Ill bet ya raise it. MIne is 5 k

 

Jim - Thanks for that input - excellent. Yeah, I'm paying 2k.

 

you mean your deductible is 2k ? IF SO you may be surprised what you are paying for the lower deductible

 

I'm got a $2K deductible with the exception of Earthquake rider which is 15% of the Dwelling limit. The earthquake deductible would be a big chunk of change if I was flattened, but I live right on top of the New Madrid fault system and experts say she's due.

 

Quite familiar w/ the New Madrid Fault.

 

This is ONLY a test

 

Jim - Sorry, yes that's what I mean. My deductible is 2k.

 

Norm I like the 1015 pose the best

 

When the a big New Madrid quake happens it will be a game changer for the middle of the country. The 1811-12 ones that caused the Mississippi river to run north and create Reelfoot lake were felt all the way to Southern Illinois and Indiana, and buildings were damaged even in St louis. I seem to recall that it is the type, depth and makeup of the bedrock that allow the seismic waves to travel so easily in this region.

The old interstate bridge , I55 built in 1949 at Memphis will surely fail, and I would imagine serious damage to the new I40 bridge from 1973 and the rail bridge (1917), the next bridge to the north is Caruthersville, then Cairo, both of which are very close to the fault . South of Memphis there are a couple smaller river crossings, but the next interstate bridge is at Vicksburg MS. Of course, commerce across the country will be affected.


The ground liquification and sand geysers that formed are some of the strangest things, to me, that happened.

 

Jim - Anything in the time period.

 

Well, you're much more knowledgeable than most, even the majority of folks who live around here, most don't have a clue or know any of the history!

 

Hell, the Mississippi River is ~75million - 80 million years old and at one time was much further East (North of Demoines, Iowa) than its present location - it's shifted several times. One of the best courses I took as a grad student was a Geology majors class - the Mighty Miss is of rather recent geology in terms of geological years.

 

Yep, all true! As a Geology major by education (BS & MS degrees), if/when the big one comes it will be a disastrous catastrophe. Hopefully, we will get many smaller ones to relieve the pressure and we'll never see the big one in our, or are kids/grandkids lifetimes.

 

Here's one for ya Chris. Agriculture. How about the Ogallala Aquifer - a recent man-made event waiting to happen. Let's stop all the water penetration (because of extremely heavy [salt] fertilizers placed on all the topsoil throughout the mid-west) into the Ogallala Aquifer and instead divert that ground water directly into the rivers & tributaries which feed the Mississippi River. Leaving the Ogallala Aquifer essentially a desert of empty caverns beneath the soil. That's going to shake things up just a tiny wee bit.

 

Yup. I hope the little ones keep the pressure back. I think they said there was one a week ago or so but I don’t think Memphis felt it

 

Yeah, I know - since we've been tracking this type of man-made perturbation, they've begun installing ground-water recharge zones through the Aquifer. Seriously though installing piping into the aquifer - boy, I tell ya, leave it to us to mess with the natural order of nature.

 

I caught a New Madrid quake a couple times in my life. Once, very young in Elgin, IL - quite removed from the New Madrid fault, but still a tremor. I felt several while studying @ University of Illness (Illinois) @ Urbana-Champaign. Earthquakes are cool. I was somewhere in D.C. on a Government engagement when that one hit the East Coast ~10-11 years ago. That was sumpin for sure, for sure.

 

Norm - I have to admit I was not aware of that man-made situation. Very interesting, it certainly won't help the scenario will it!

 

My comments on insurance, always overinsure because they will take, take, take. We lost a lot of money due to depreciation on my grandmother's house. Dumbass adjustor did not get that historic homes are OLD.

I have classic car insurance, car insurance, house insurance, umbrella policy, gun insurance, firearms instructor insurance, and I need to get collectors insurance on my stereo and my beer sign collection.

 

Chris - Yeah, we studied Ogallala Aquifer ground-water (non) infiltration (diversion via rivers/streams/tribs) scenario @ Univ of OK back in the early 1980s - cool stuff I always thought. Just waiting for it all to collapse is how I thought of it. Like this big cavern labyrinth which is supposed to hold water but we've elected not to replenish it instead. Caliche soil(s) as the result of Ag. fertilization.

 

Hot Damn, John. You have several life insurance policies to add to that list? I can provide you w/ my social security number if you're looking for benefactors.

 

Mattking, give Hagerty a call, I have my project '69 insured through them, you don't want to lose out due to not having insurance at all. Mine is insured in the unlikely event of a tree falling on my garage, or worse, a house fire, which will not cover any motor vehicle. I have agreed value on it.

 

While I HAVE American Collectors, I have YET to make a claim through them.

USAA and American Collectors are the best I can rate an insurance company, but I can only rate them as marginal, as all insurance agencies suck. It's like choosing the best tee ball team.

 

Jim - Holy $hit house mouse. My agent returned to me three excellent quotes of varying coverage - including two profile quotes w/ a $5k deductible & a $7.5k deductible. I believe I'll be able to play golf the remainder of the year.

 

Put out more corns for da deers. Worked outdoors all afternoon. A little chilly but when working it's not so bad. The guy picked up the engine hoist/lift - I can buy more golf *****.

 

Norm do what ya think is best. Consider 7k vs 2k deductible. MHO for the difference in premium cost of that 5k swing is worth a few more bucks a year on premium costs.

I just had a deer run into my new to me pick up, (Estimate from the body shop and adjuster for a new door and fender plus the labor and blending just south of 5k.)

I himmed and Haawwed about carrying full coverage on a 2012 with 160k mi with a 250 deductible, vs no comp with a higher deductible....
But it is a nice truck for its age.




Happy now I decided the 14 or so bucks a year was worth covering it with a lower deductible, ya never know.....

 

Keith - That is a very sharp looking truck! 👍