I HATE PAYING INSURANCE (and taxes)

[CAJUNLAWYER]

Citizens announced a 63% increase in insurance after the 1st of the year in Louisiana. Citizens is the assigned risk insurer for Louisiana that writes policies that nobody will underwrite due to the hurricane damage or because they pulled out of the state.
SO I, being the forward thinking individual I am called my agent to make sure my office policy (due in November) wasn't gonna be under that rate increase.
Good news! the 63% increase only applies to residential properties.
Bad news is that for commercial properties the rate increase kicks in in November and is 90% increase for me And it only covers wind and hail with a 4% deductible and ACV
The other policy I paid last month for fire and other hazards other than wind and hail thankfully of a replacement cost policy.
So my prayers are "Lord keep my office building safe from destruction-but if it be your will-let it be by fire rather than hurricane-Amen"
This coupled with the 5 figure check I just wrote to Uncle Sugar means that the gun fund is now officially depleted for the forseeable future

 

[biku324]

It's just math...they ain't in bi'ness to lose money.

 

[Nevada Ed]

My summer cabin in in the Calif, Lake Tahoe area, that has been hit by
several fires in the last 5 years and rates have gone up 200%.

My little cabin now cost 5 times more, than my home in Reno Nevada.

If it keeps up, I don't know what will happen in two more years, with all
the homes in that area, if on low income?

 

[wood714]

Got my insurance bill due in November. Up $1,000 from last year. Mines thru Progressive, but actually ASI.

I do have great coverage. Hurricane deductible is $500.

My tax bill should be here any day. It can't go up more than 3%.

 

[UncleEd]

So, if a hurricane is coming in
and looks like you're going to
really get hit, start the building
on fire. Then you can collect.

Gee, and I'm not even a lawyer.

 

[GypsmJim]

So, if a hurricane is coming in
and looks like you're going to
really get hit, start the building
on fire. Then you can collect.

Gee, and I'm not even a lawyer.

I know you were just kidding, but actually there are people that really do that.

 

[Cdog]

Ya'll are preaching to the choir. Last week I wrote a property tax check that was a tad over $4000.

I just dropped another check in the mail earlier today. It was a quarterly insurance payment, $1250 and change.

My hopes for retirement are dwindling as fast as my checking account!

I seem to be a man that simply can't stand prosperity.

 

[Rudi]

My insur. didn't go up much, but they required me do some re-modeling on the garage. That was over $1300, glad I could do some DIY. Next month it's property tax time. That NEVER goes down.

 

[Ivan the Butcher]

I live in a condo, so my insurance doesn't cover the building, just contents and liability. It is pretty cheap compared to my farm's insurance. But I pay $210 a month in association fees. My taxes are $4600 a year for the inside of 19'x 83' (including the garage). I also carry a liability rider for $1Million that covers me, anything that should come from my former business, and while driving. That has a $50K deductible. but the auto and Condo policy cover the $50K, that's the cheap part at only $19 a month.

I think these prices could all be lower if some reasonable spending was doat all governmental levels! But I take the cost of living in the US of A over some other country! Amen!

Ivan

 

[bigwheelzip]

Some examples from June 2021 of insurance discounts offered in Louisiana, for structures which get certified as Fortified. Tax credits may also be available to offset the cost of fortification.

Sent from my motorola one 5G using Tapatalk

 

[wood714]

Ya'll are preaching to the choir. Last week I wrote a property tax check that was a tad over $4000.

I just dropped another check in the mail earlier today. It was a quarterly insurance payment, $1250 and change.

My hopes for retirement are dwindling as fast as my checking account!

I seem to be a man that simply can't stand prosperity.

That's the thing about owning a home. You pay it off and think you're set.

You never actually pay it off thou. Taxes and insurance till the day you die.

 

[biku324]

My daughter in CA has homeowners insurance with a mandatory 10% deductible. That amounts to roughly $52,000.

 

[Bekeart]

An Eternal Payment Plan / IRA MRD Dead Broke

That's the thing about owning a home. You pay it off and think you're set.

You never actually pay it off thou. Taxes and insurance till the day you die.

An Eternal Payment Plan.

*****
IRA MRD Dead Broke

Minimum Required Deduction from your IRA is calcuated to insure that you are Dead and Broke at the same time.

Bekeart

 

[THE PILGRIM]

Leavenworth folks announced a big increase on my House Insurance.
When I asked them was it General increase or just them?
They admitted it was just them, they had experienced heavy losses in NM.
So back to USAA I go. It's nice to have alternatives!
The Tax I hate? Social Security.
You know, Socialized Insecurity.
You earned, you paid for it, it's yours.
Except we want some of it back.
You ain't that deserving!

 

[cmj8591]

Someone has to pay so that rich people can live near the water.

 

[ladder13]

………..
Minimum Required Deduction from your IRA is calcuated to insure that you are Dead and Broke at the same time.

Bekeart

That's my plan.

 

[arjay]

We pay and pay and never collect lol. I applied for SS 9 months ago and I'm still waiting…

 

[Mike SC Hunter]

Property tax proves one thing.........NOBODY actually owns anything.........You just rent it from the gov.......Don't pay your PT's.......Gov will throw you out and sell it to someone else..........Think about that.......

 

[biku324]

We pay and pay and never collect lol. I applied for SS 9 months ago and I'm still waiting…

The good news is they'll pay you back to the date they received your application.

My daughter passed three years ago; our grandchildren were her dependents. The SocSecAdmin took roughly 4 months to approve them, but paid back to the application date.

 

[vt_shooter]

Given the cumulative cost of insurance over a span of years or decades, you'd think it would be cheaper to build buildings and homes like fortresses that cannot be destroyed by weather, and self-insure to fix the cosmetic stuff that unavoidably would get damaged. 'Just seems like we aren't doing it the best way.