Great video! Except I am a life insurance broker and would recommend using me or another broker in your area for life insurance, not one of those online companies! You’ll get more personalized service which I think people still like and desire. We have access to non-med term life insurance. Thx Clark, love your content, I have been following for nearly 10 years!
Agree, zino3486! I am an auto liability adjuster and online carriers do not provide customer-friendly services. A bit shady, what I have seen when working with them on a mutual claim. As the saying goes, you get what you pay for, and the cheap policies sold by online carriers are cheap for a reason.
The one drawback with term life: rates toward the end of the term are outrageous. Also, once the term ends that's it. Once it expires, you're left with no insurance and almost no options to obtain coverage. With whole life, it could be the main source of income for people that don't have a 401K.
I cannot stress enough about getting a bunch of liability for your car insurance. Get as much as you can afford. I was in a wreck, luckily I had $150,000 in liability insurance. They were happy with that and I didn't have to pay anything out-of-pocket..
mattcat83: You are on point. PI lawyers will review a claimant's coverages during the early stages of their representation. Everyone should have a lawyer in the criminal element, but sometimes, having a lawyer for insurance torts is actually counter productive. PI lawyers run commercials that use words...get what you deserve...we will fight for you...which gives the impression that insurance companies are out to screw over people, even their own policy holders, and this is just not true. Ah, the stories, I could tell, heck, I should start my own YT channel. lol
AMICA can be expensive initially. Like other mutual insurance companies, they bring in an unknown risk with new customers, but as you show you are not risk disadvantaged, and have no claims, the premiums adjust to market value, even below in some cases.
Thus guys advice on home and auto insurance is good. His advice on life insurance is not good. See a professional life insurance agent to advise you. This is the problem with social media. Anyone can get on and pretend to be an expert
As an auto liability adjuster, I CRINGED when Clark suggested a 1k deductible for most and for renters to go for state minimums on coverege. Stats show that over 80% of Americans can not afford a $400 emergency, so a 1k deductible would be crushing to these people. Also, no one (in my professional experience) should go with state minimums (which is most often 25k). Ex. 1 (why to choose a deductible you can actually afford). A retired widow is rear ended by a teen who has no insurance. Widow's Uninsured policy is used to repair her vehicle, but she has a 1k deductible. To get her vehicle repaired she must pay the 1k deductible, which was a lot on her fixed income. Whenever you use your insurance, your deductible applies. I have found that many people don't realize this. I have been cursed out many time on this very issue. Fault (liability) has nothing to do with the deductible. Think of the deductible as the key to a door to your insurance policy. Now in some cases where the other party is at fault at 100%, large companies who want to have a good reputation will refund your deductible, but this is not every time and is often weeks after you paid. Ex. 2 (why the state minimums are not advised). Woman turns her head to check on her toddler in the back for just a few seconds. Traffic slows in front of her, bam, she rear ends a 2016 Corvette with no braking. It is valued at 41k. Once her property/liaibility limit of 25k was reached the insurance company was done. She and her husand must come up with the difference. They are putting a second mortgage on their house to pay the remainder (41k-25k). I have many examples of why people should not choose a deductible unless they can afford it, and why state minimums are dangerous. Clark is wonderful for consumer protection matters, but insruance is not in his wheel house. I know he means well, but his advice in this video on auto insurance needs a tune up (pun intended)! As an auto liability adjuster, I was trained over 3 months, 40 hours per week. If I were to move to another line, I would need additional training, and have to pass a licensure exam for that line. Folks, please don't base your decision to drop liability on just the value/age if your vehicle. Yes, the figures Clakr gace make sense (cents) from a money point of view, but not a practical point of view. Ex.3 (why dropping collision/comp is not always a good idea) Young man has a 12 year old truck. While parked at a strip mall it is hit and the other driver runs. The strip mall has no cameras that record (just a live feed). No witnesses to identify the at fault party. A part if the damage is to the front that cracks a headlight and knocks off the mirror. This makes it ilegal to drive. This is the young man's only vehicle. He uses it to go to college and to work. My advice, never drop collision/comp on a solo vehicle, no matter the age or value. I have not met Clark, but if I ever do, I believe he will be a genuniely nice guy. However, his advice on auto insurance in this video has several errors, in my professional opinion.
Being an adult is complicated. Thanks for making things a little more clear lol
This is good stuff. None of the other financial channels that I've found really talk about liability. People are overly optimistic.
Thank you so much this help me out, what insurance do you have?
Good job Clark!
Great video! Except I am a life insurance broker and would recommend using me or another broker in your area for life insurance, not one of those online companies! You’ll get more personalized service which I think people still like and desire. We have access to non-med term life insurance. Thx Clark, love your content, I have been following for nearly 10 years!
Agree, zino3486!
I am an auto liability adjuster and online carriers do not provide customer-friendly services. A bit shady, what I have seen when working with them on a mutual claim.
As the saying goes, you get what you pay for, and the cheap policies sold by online carriers are cheap for a reason.
Finding the best homeowners Ins company
Thank you so much for this!
The one drawback with term life: rates toward the end of the term are outrageous. Also, once the term ends that's it. Once it expires, you're left with no insurance and almost no options to obtain coverage. With whole life, it could be the main source of income for people that don't have a 401K.
BORROWING against your own money, and you think this is a good idea?
What about The Hartford to Bundle
Amazing good job
What is a reputable term life ins policy provider (with and without medical exam req) with a guaranteed payout upon death.
I would love to discuss with you more about universal life insurance. Seems like a great option if the agent sets up the policy the correct way.
Um he would say no
I cannot stress enough about getting a bunch of liability for your car insurance. Get as much as you can afford. I was in a wreck, luckily I had $150,000 in liability insurance. They were happy with that and I didn't have to pay anything out-of-pocket..
liability insurance per person or per accident. I am so confused
Good video. Very informative. Im going to go cry into my pillow for a while.
Personal injury attorneys might just have been part of why auto injuries carry so much liability.
mattcat83:
You are on point. PI lawyers will review a claimant's coverages during the early stages of their representation.
Everyone should have a lawyer in the criminal element, but sometimes, having a lawyer for insurance torts is actually counter productive.
PI lawyers run commercials that use words...get what you deserve...we will fight for you...which gives the impression that insurance companies are out to screw over people, even their own policy holders, and this is just not true.
Ah, the stories, I could tell, heck, I should start my own YT channel. lol
Amica is WAY .. WAY to expensive. I can't believe you'd recommend them. 😢
AMICA can be expensive initially.
Like other mutual insurance companies, they bring in an unknown risk with new customers, but as you show you are not risk disadvantaged, and have no claims, the premiums adjust to market value, even below in some cases.
Thus guys advice on home and auto insurance is good. His advice on life insurance is not good. See a professional life insurance agent to advise you. This is the problem with social media. Anyone can get on and pretend to be an expert
As an auto liability adjuster, I CRINGED when Clark suggested a 1k deductible for most and for renters to go for state minimums on coverege.
Stats show that over 80% of Americans can not afford a $400 emergency, so a 1k deductible would be crushing to these people.
Also, no one (in my professional experience) should go with state minimums (which is most often 25k).
Ex. 1 (why to choose a deductible you can actually afford).
A retired widow is rear ended by a teen who has no insurance. Widow's Uninsured policy is used to repair her vehicle, but she has a 1k deductible. To get her vehicle repaired she must pay the 1k deductible, which was a lot on her fixed income.
Whenever you use your insurance, your deductible applies. I have found that many people don't realize this. I have been cursed out many time on this very issue. Fault (liability) has nothing to do with the deductible. Think of the deductible as the key to a door to your insurance policy. Now in some cases where the other party is at fault at 100%, large companies who want to have a good reputation will refund your deductible, but this is not every time and is often weeks after you paid.
Ex. 2 (why the state minimums are not advised).
Woman turns her head to check on her toddler in the back for just a few seconds. Traffic slows in front of her, bam, she rear ends a 2016 Corvette with no braking. It is valued at 41k. Once her property/liaibility limit of 25k was reached the insurance company was done. She and her husand must come up with the difference. They are putting a second mortgage on their house to pay the remainder (41k-25k).
I have many examples of why people should not choose a deductible unless they can afford it, and why state minimums are dangerous.
Clark is wonderful for consumer protection matters, but insruance is not in his wheel house. I know he means well, but his advice in this video on auto insurance needs a tune up (pun intended)!
As an auto liability adjuster, I was trained over 3 months, 40 hours per week. If I were to move to another line, I would need additional training, and have to pass a licensure exam for that line.
Folks, please don't base your decision to drop liability on just the value/age if your vehicle. Yes, the figures Clakr gace make sense (cents) from a money point of view, but not a practical point of view.
Ex.3 (why dropping collision/comp is not always a good idea)
Young man has a 12 year old truck. While parked at a strip mall it is hit and the other driver runs. The strip mall has no cameras that record (just a live feed). No witnesses to identify the at fault party. A part if the damage is to the front that cracks a headlight and knocks off the mirror. This makes it ilegal to drive. This is the young man's only vehicle. He uses it to go to college and to work.
My advice, never drop collision/comp on a solo vehicle, no matter the age or value.
I have not met Clark, but if I ever do, I believe he will be a genuniely nice guy. However, his advice on auto insurance in this video has several errors, in my professional opinion.
With that annoying flickering thing behind him. Its hard to watch..
Close your eyes and Listen😏 life is so simple
Bunch of cheerleaders
Just listen homie
I never noticed
Wtf is this