Insurance Companies, THE BET

 That picture

This Picture is from California at  Will Rogers Ranch this week. It is possible the ins. was cancelled last week. I can imagine insurance has been paid for over 50 years.  Just saying.

For today:

First, about the 3 buttons, yes, the buttons on the sleeve not the coat it's self. ;-)

And the rich guys! I was not referring to self-made wealth or just millionaires, they can know tough things. The families that have had Billions their entire life, honestly nothing negative was meant, it is just there are things they will NEVER KNOW! 

Victor might say: I asked if I could walk in the Billionaires shoes and he said, take the bus!  Love you guys...

Now, LOL, my REAL FUSS!

I have always heard the insurance company is betting nothing will happen to you or your home, and you are betting it will, when you take out a policy.

I am a customer who always refuses extended warrantee on   tools, appliances or equipment. When  am asked, do you want the $$ extended warrantee?

Sometimes I ask, “ Isn't this warranted already?”

“Yes but the insurance insures replacement, a year longer.”

I NEVER buy extended warrantees. Most things will live past their warranted time. IMHO

When buying a home, if you take out a mortgage, of course the lender REQUIRES you insure it. If you own a home, you ARE NOT REQUIRED TO INSURE IT, Since we buy mostly fixeruppers, we never insure them.  I can understand those who fear damage, but since I repair almost anything that happens to a home, I do not insure them.

That exception is duplex in NC.  WE insure it because renters are involved.  (the manager is also our insurance agent LOL.)

Since insurance is a bet. Lately I have learned that the Insurance companies have a way to ‘hedge’ their bets.  Remember the bad weather in Florida lately? Now the fires in California?  Insurance Companies, have cancelled thousands of policies knowing their bets in that area are losing bets. Too bad the homeowners cannot suspend payments, or at least pay every other month, in the good times. LOL

WE have never lost a home to fire or tornado, etc. Our only claim was a roof after a hailstorm.  To be factual we have insured those places in NC for near 30 years, paying insurance every year. So of course, the roof they GAVE US after the deductible, was paid for years ago. LOL

 I have had two businesses. I knew when I started them, if things went bad I could lose a lot.  Business owners know this. Businesses are a gamble, no guarantee. I thought Ins. Companies were the same. If they insure more than they can pay for, they run the risk of going broke.

I cannot imagine how I would feel if My agent knew a natural disaster might take my home in the next week and  call me to say, we are cancelling your policy, (Meaning: If we don’t we might have to pay . OUCH

I would be one upset dude. SO can you imagine the folks  in Florida who lost their homes to flooding and those in California who are losing theirs to fire, they must be devastated at the cancellations, WE PAID YOU AND TRUSTED YOU!!

Nite Shipslog

PS 

Always Good to see you. We look forward to  seeing you, you always make our Day, that is a guarantee!!THANKS!