I am an insurance agent and sadly agree with a lot of what you’re saying. The challenge is, no one seems to be coming up with a good solution. Everyone seems to complain, but no one comes up with any good ideas on how to fix the problem. Open to thoughts!
@@digi-deals.online thank u so much for your input. I have no doubt that you have worked very hard to build your business. I have a few ideas but it’s a bit discouraging due to the size of this issue. I’m working on some ideas but I want to make certain that I’m correct before making another video. With this inflation problem, I’m afraid it’s going to force many people to make some hard choices, especially our elderly/retired. Thank u for your input and thank u for taking good care of your policy holders.
We need more insurance representatives that are more proactive. I knew one that helped a guy get a construction business going by giving him a personal loan. The loan was given with an agreement that the cost be 10% under the lesser of the customer's 2 estimates when called upon. The contractor didn't get rich, but he maintained consistent work and did a little better for himself.
@@FrugalMeScott The contractor couldn't handle the full workload so he'd review the estimates to determine which ones were over inflated and just pick those. Not sure how legal it was, but the only ones that were affected were the greediest contractors.
I have a couple of suggestions that I have found help with keeping insurance prices lower. We have a high deductible ($5,000) on our Homeowners insurance. We drive older cars that are paid off so we can go with liability only and being retired we drive less than 2,000 miles a year. We have Safeco through an independent agent both homeowners and auto so we get a multi policy discount and we have a history of no claims by self repair on the small stuff.
I also drive an old car (2000) and have liability only for $57 per month through State Farm. Driving an old car can save anyone buckets of money in insurance and car payments. All the new cars are lined up at the food banks.
You mentioned Texas I live in Texas Governor Abbott got our property taxes just about cut in half saved me $1,000 this year then what happened to my homeowner's insurance it went up $800 in one year the insurance company saw all that free money sitting there that we weren't having to pay in property taxes and decided to scoop it up. This is wrong and it should be dealt with. I have had zero claims but I'm fixing to find something because of the hurricane that just came by my house
As always, it's a great video on homeowners rip-off companies, Scott. We have been lucky having the same agent for over thirty-five years. Good luck with your future youtube videos, sir. 👍👍👍👍
I enjoy your videos, I use a company called The Woodlands financial group or TWFG. ITS A Independent agency. My renewal for my home owners is not till November, but I just got a notification that I have to let some one they sent out to run a Drone over my house and take pictures of the roof. Roof is 19 years old. But it still looks great.
You'll get 1 of 2 things , a letter saying replace it , or a letter saying you'll only have a actual cash value if something happens, and in your case you might get a check for $3'000. To replace the roof that's that old, I give you good luck
You bring up excellent points in your videos. Here's what I think will happen in high-risk states like CA, CT, FL, NJ, NY, and LA: Home insurance will be managed like flood insurance, directly by the state or federal government. There will be a list of qualified insurance companies to underwrite the policies, similar to how GEICO contracts with other companies for home insurance. These policies will likely cover only dwelling at a fixed amount, with limited coverage for other things and a high deductible based on the dwelling's value. A unique option might be an HSA-like account for home claims, where a certain amount is set aside tax-free each year for legitimate claims.
I dropped my home insurance completely when they hit me with an increase in the past few months of $1,100 a year for my two houses. That's just the increase. The insurance company said it was going to increase again, too. If I had paid both insurances as priced, I would have paid over $400 per month, just for insurance. So, as I said, I dropped my homeowners, and dropped the rental house down to liability only, which comes to around $600 a year. Both houses are paid off. I understand it is a chance I am taking, but I live in an area that, while in a hurricane "zone" (St. Petersburg, Fl) has a unique ability to not get hurricanes full force. They either sideswipe us or go south/north of us. This area is known for this. Maybe it's the air currents, who knows? Not saying it couldn't happen, but I won't be held hostage for the rest of my retirement. I'd rather have that extra money to live on. I feel so sorry for people who are carrying mortgages and are also being hit with increased taxes plus insurance rates and can't choose to drop insurance because the mortgage company won't let them. So many are being force to sell now. And it's no fault of the homeowners. People who have flood coverage on top of the insurance, I just don't know how they are going to manage.
Really?? I'm with State Farm, but use a 2% money back card with Truist (was Suntrust before they merged). If State Farm has a 3% money back card, I may go with them. I'll look it up.
@@yellowbird5411 yeah they still have it. Although I’m currently shopping other places. State Farm has went up on my car insurance by 60 percent in the last year!
Hi Scott I'm looking to move in the south georgia area there are two towns I'm currently looking at Hahira,ga and Lakeland,ga there isn't enough information online do you know these areas are they good.
I am an insurance agent and sadly agree with a lot of what you’re saying. The challenge is, no one seems to be coming up with a good solution. Everyone seems to complain, but no one comes up with any good ideas on how to fix the problem. Open to thoughts!
@@digi-deals.online thank u so much for your input. I have no doubt that you have worked very hard to build your business. I have a few ideas but it’s a bit discouraging due to the size of this issue. I’m working on some ideas but I want to make certain that I’m correct before making another video. With this inflation problem, I’m afraid it’s going to force many people to make some hard choices, especially our elderly/retired. Thank u for your input and thank u for taking good care of your policy holders.
We need more insurance representatives that are more proactive. I knew one that helped a guy get a construction business going by giving him a personal loan. The loan was given with an agreement that the cost be 10% under the lesser of the customer's 2 estimates when called upon. The contractor didn't get rich, but he maintained consistent work and did a little better for himself.
@@jasonconrad5772 awesome. We are all in this together!
@@FrugalMeScott The contractor couldn't handle the full workload so he'd review the estimates to determine which ones were over inflated and just pick those. Not sure how legal it was, but the only ones that were affected were the greediest contractors.
I have a couple of suggestions that I have found help with keeping insurance prices lower. We have a high deductible ($5,000) on our Homeowners insurance. We drive older cars that are paid off so we can go with liability only and being retired we drive less than 2,000 miles a year. We have Safeco through an independent agent both homeowners and auto so we get a multi policy discount and we have a history of no claims by self repair on the small stuff.
@@danielguza5013 that is excellent information and thank for for sharing and participating!
I also drive an old car (2000) and have liability only for $57 per month through State Farm. Driving an old car can save anyone buckets of money in insurance and car payments. All the new cars are lined up at the food banks.
@@yellowbird5411 that is exactly right!
You mentioned Texas I live in Texas Governor Abbott got our property taxes just about cut in half saved me $1,000 this year then what happened to my homeowner's insurance it went up $800 in one year the insurance company saw all that free money sitting there that we weren't having to pay in property taxes and decided to scoop it up. This is wrong and it should be dealt with. I have had zero claims but I'm fixing to find something because of the hurricane that just came by my house
@@bobbyyoung2831 check with Becky Basek at First Insurance Services in Jasper Tx.
@@FrugalMeScott Thanks
Funny, progressive ad popped up while watching. I'm ready to go free range.
@@martyswaney1098 Progressive likes us!
Just as you mentioned progressive, a commercial popped up! And people think they aren't tracked! 😂
@@randiD123 correct!
Common Sense is a new Conspiracy now.
@@davidtwister6936 you are absolutely correct!
As always, it's a great video on homeowners rip-off companies, Scott. We have been lucky having the same agent for over thirty-five years. Good luck with your future youtube videos, sir. 👍👍👍👍
@@jamesc9327 Thank u for your input.
I enjoy your videos, I use a company called The Woodlands financial group or TWFG. ITS A Independent agency. My renewal for my home owners is not till November, but I just got a notification that I have to let some one they sent out to run a Drone over my house and take pictures of the roof. Roof is 19 years old. But it still looks great.
@@conehead44534453 be prepared. They’re looking for any reason to raise rates or cancel.
You'll get 1 of 2 things , a letter saying replace it , or a letter saying you'll only have a actual cash value if something happens, and in your case you might get a check for $3'000. To replace the roof that's that old, I give you good luck
@@200cdl thank u for your information.
You bring up excellent points in your videos. Here's what I think will happen in high-risk states like CA, CT, FL, NJ, NY, and LA: Home insurance will be managed like flood insurance, directly by the state or federal government. There will be a list of qualified insurance companies to underwrite the policies, similar to how GEICO contracts with other companies for home insurance. These policies will likely cover only dwelling at a fixed amount, with limited coverage for other things and a high deductible based on the dwelling's value. A unique option might be an HSA-like account for home claims, where a certain amount is set aside tax-free each year for legitimate claims.
@@couponuser I believe you are correct!
CT a high risk state? It does have a shoreline but it's not that big.
I dropped my home insurance completely when they hit me with an increase in the past few months of $1,100 a year for my two houses. That's just the increase. The insurance company said it was going to increase again, too. If I had paid both insurances as priced, I would have paid over $400 per month, just for insurance. So, as I said, I dropped my homeowners, and dropped the rental house down to liability only, which comes to around $600 a year. Both houses are paid off. I understand it is a chance I am taking, but I live in an area that, while in a hurricane "zone" (St. Petersburg, Fl) has a unique ability to not get hurricanes full force. They either sideswipe us or go south/north of us. This area is known for this. Maybe it's the air currents, who knows? Not saying it couldn't happen, but I won't be held hostage for the rest of my retirement. I'd rather have that extra money to live on.
I feel so sorry for people who are carrying mortgages and are also being hit with increased taxes plus insurance rates and can't choose to drop insurance because the mortgage company won't let them. So many are being force to sell now. And it's no fault of the homeowners. People who have flood coverage on top of the insurance, I just don't know how they are going to manage.
@@yellowbird5411 very well said!
Live in Calif. No claims Farmers dropped me. Took 2 days to get new insurance. Have to pay $600 a year more😮.
@@sistergoldenhair2231 I’m so sorry for what you are going through. We are all in this together and we must find a solution!
I think the day is coming that we wont have insurance like years and years ago.
@@feelnrite many will be forced to drop it.
good info
@@cynthiaduckworth531 thank u
State Farm offers credit cards so they are definitely branching out!
@@jimcramer9656 oh yes and we know what kind of trap that is!
Really?? I'm with State Farm, but use a 2% money back card with Truist (was Suntrust before they merged). If State Farm has a 3% money back card, I may go with them. I'll look it up.
@@yellowbird5411 thank u please let us know.
@@yellowbird5411 let us know. Thank u
@@yellowbird5411 yeah they still have it. Although I’m currently shopping other places. State Farm has went up on my car insurance by 60 percent in the last year!
Hi Scott I'm looking to move in the south georgia area there are two towns I'm currently looking at Hahira,ga and Lakeland,ga there isn't enough information online do you know these areas are they good.
I’m sorry. I don’t have any knowledge about those two towns. I’m actually close to Brunswick Ga.
oh the irony....how many of us got a progressive ad while watching this?
@@prs44 lots!
I have blocked ads with AdBlock, on my computer, so I don't have to suffer through them any more. Waste of my life.
The corporate swamp and can't help the poor have health insurance, Corporate welfare
@@MichaelBrown-nc7jx well said