Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Generalize much? Please cite a source. (hint: TikTok doesn't count).
Nevada has a fatal accident rate of 12.2 per 100,000. Utah has a rate of 9.8. Its not a stark contrast, but Utah comes out better.
Are you referring to out-of-state visitors from Utah and other states who come to Las Vegas for vacation?
I don't see anything that breaks it down that way. However, Utah ranks 45th out of 50 states in terms of numbers driving while impaired. Nevada ranks 30th. Its not horrible again, but not as good as Utah.
I shouldn't say Nevada is chock full of bad drivers, but accident rates in Utah are lower.
Geigo keeps raising my car insurance despite no accidents, car is 16 years old and I only drive 2700 miles per year. I pay 100/month and in July when my premium is due it will probably go up again. I have shopped around and no one is cheaper.
I have GEICO. My premium went up a nickle. I am now paying $127.10/month. My car is 11 years old, and mileage is 43,700.
I'll try to call GEICO Monday and see if I can get a discount for being a Berkshire Hathaway shareholder. I believe we are restricted to two affiliation discounts, and I already have two. But perhaps being a shareholder of Berkshire Hathaway is excluded from the limit. I hate this stuff.
So all those price hikes for insurance aren't just happening in Florida eh? Who'da thunk it, from all the naysaying that goes on about the Sunshine state?
So all those price hikes for insurance aren't just happening in Florida eh? Who'da thunk it, from all the naysaying that goes on about the Sunshine state?
Quote:
Originally Posted by moguldreamer
Last weekend during the Berkshire Hathaway annual meeting & the lengthy Q&A to Warren Buffett and his lieutenants, there were several questions about insurance.
GEICO apparently is behind in terms of its use of data analytics to correctly price car insurance. They are playing catch-up.
There was a specific question regarding affordability of insurance in Florida, and Ajit Jain (head of insurance) said bloodsucking unscrupulous lawyers were part of the problem, as is the state regulatory entities. Florida, he says, will need to curtail those problems so that insurance can be properly priced in that market. As it is, the rest of the country is subsidizing insurance rates in Florida, and that is not sustainable for the long run. No consumer wants high insurance prices, but insurance companies must be able to make a profit writing insurance in Florida or they will pack up their bags and leave.
It's my experience that full homeowner's insurance gives you coverage to rebuild a similar house in size and architecture of your current house on your lot. This is so you can rebuild the house if it's destroyed. It has little to do with what the house is currently worth. If your $150,000 house costs $500,000 to rebuild, then they charge you to cover a $500,000 house.
My inexpensive old house is covered for $350,000 because that's what it would cost to rebuild a similar one in size on my existing lot. And if you have a mortgage on your house, the lender gets paid before you do. Otherwise, you still owe the lender money on the house if it's destroyed so that at least prevents you from continuing paying on a mortgage for a house that no longer exists.
I'm pretty sure most houses are destroyed by fire than hurricanes and tornadoes combined. This sight says 358,500 houses experience structure fires every year. https://www.thezebra.com/resources/r...re-statistics/
This. An older home will have physical depreciation. So if the home is really old, your cost will reflect the cost to reconstruct but your house might not be worth nearly as much.
This. An older home will have physical depreciation. So if the home is really old, your cost will reflect the cost to reconstruct but your house might not be worth nearly as much.
My goal is not to become homeless if my house burns down or some other catastrophe happens. If the house is worth less than it costs to rebuild, I really don't care. My needs are covered. That's why I have the insurance.
Last edited by marino760; 05-12-2024 at 10:01 AM..
we pay 700 a year here in nyc for just a million in an umbrella…other areas are a fraction of that .i tried shopping around but the problem is that with auto theft out of control , very few insurance companies will write new business on my lexus here which was 80k
out of a dozen companies two said they would cover the car at 6k a year .
i pay 2300 a year with geico so switching is out of the question
I pay $1,000 a year with Geico on a two year old Subaru in quiet old, Tidewater Virginia.
Our homeowner's is set to go up a bit over 30% at renewal. Lots and lots of new roofs about town, so not really a surprise.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Lots and lots of new roofs about town, so not really a surprise.