Let this be a lesson. Don't bother with travel insurance
- Thread starter CrazyTrader55
- Start date
bambu.
Gold Member
Travel insurance is a must.
I would advise people not to leave home on an overseas holiday/vacation without it.
And on a vacation within their own country. [maybe not as important, depending on the govt hospital/medical systems there.]
Overseas...what if you go into "snow and ice central" land?
There are special "ice/snow" insurance packages.
With any insurance, you have to read everything, understand it all, especially the fine print.
"All roads lead to lawyers"...is a famous saying.
Travel insurance policy is basically a legal document...as is soon discovered when one wants to make a claim, and maybe go to court.
Do research, online etc. Read all reviews.
You usually get what you pay for.
Can't afford quality travel insurance?...you really can't afford the holiday/vacation.
The list of things that can go wrong is very long.
multivita-man
Platinum Member
- Aug 10, 2022
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The problem with private insurance is you really will never know its true value unless you actually really need it. The way I see it, insurance doesn't exist to cover all or even most of your expenses; it exists to make sure that you don't lose everything and become a debt-slave the last few years of your life. Being alive is expensive, unfortunately, and it only becomes more so as each of us ages and as more souls are added to the planet's population.
Anathema
Crotchety Olde Man
Just another reason not to go on a holiday/vacation outside the USA.
CrazyTrader55
Diamond Member
- Thread starter
- #5
LOL So which insurance company do you work for?
These companies will weasel out of paying, every time you really need it.
It's like the banks. They are always willing to loan you an umbrella - until it's raining.
We're vastly over insured as a nation. Risk keeps us honest.
One more thing about "insurance". It's been sold (and sold, and sold) as the "responsible" thing to do. When it fact, it's the exact opposite. Buying insurance is paying for the privilege of being irresponsible. You're paying someone else to assume responsibility for you.
CrazyTrader55
Diamond Member
- Thread starter
- #8
Exactly.
Look at post 2 who jumped right in to defend the insurance industry and never did answer my question.
- Moderator
- #9
Deleted
Edgetho
Diamond Member
- Mar 27, 2012
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I have had the misfortune to have filed several claims with Insurance Companies. Homeowners, Health, Auto, Dwelling.
I've never had a problem. The only people that have probems are people who buy from shady Companies that aren't even admitted to the State, or stupid people.
I suspect you are the latter. Don't buy Insurance if you don't want to. Let us know how you make out.
Insurance is the price you pay for being successful. Something I doubt you'll ever have to worry about
CrazyTrader55
Diamond Member
- Thread starter
- #11
Lol I'm doing just fine there, big mouth. Right now I have my investment webpage open, and looking at the day's activity. I'll be retired in less than 18 months, and well ahead of schedule.
Big mouth keyboard warrior.
Want to threaten me again?
Paddlefoot
Diamond Member
- May 4, 2025
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Luckily, I am poor and already live close to water. I also read the news and know everything outside of Texas is a shit hole.
Exactly. Insurance is a financial tool for people to protect their wealth. If you have no wealth, you don't need insurance.
The Duke
Diamond Member
- Jul 30, 2022
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Insurance is a criminal enterprise often mandated and assisted by the government.
Only 1 comptroller per state? They get bribed every year and premiums keep going up.
30-40 years this has been going on.
Which carrier is paying you to sprout such nonsense?
Very true. Look at the dude who is in charge of the insurance commission in CA. The insurance industry just fork out some pricey dinner and he is sold.
Edgetho
Diamond Member
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Insurance is as old as the Bible itself.
When residents of the same Village would give 10% of their crop to a communal body for safe-keeping in the even of your own crop failing next year. Or the year after.
Insurance, in the form of Lloyds of London is what made the British Empire as great as it what was. All the others, Spain, Portugal, France... If they lost several ships in a hurricane bringing spices back from the Caribbean, they took the whole hit. Usually putting them out of business. Pirates, War, Mutiny.... But with Lloyds, they spread the risk around to several dozen people. Nobody goes bankrupt.
It's called "Risk Sharing". And that's what Insurance companies do. It is all they do. We all throw money into a Pool and take from it if we have an accident or another kind of misfortune. Risk Sharing. Very Simple. Super Simple.
But Insurance attracts the scum of the Earth. Lawyers. Fraudsters. Fakers. Scammers.
Next time you get your insurance, your car insurance specifically, look at what's called the Declarations Page.
Look at each coverage and what it costs.
Know what costs the most. Liability. Know why? Because that's about the only coverage that Lawyers are interested in. Dewey, Cheatum and Howe. Slip and Fall. "My Back, My Back, My Back, My Head, My Neck!!!!"
I have a truck worth about $20k right now. I just bought a little Tractor for $25k. My truck costs $2,200 a year for insurance, my tractor costs me about $220 a year. Ten times as much. I can Insure my House for $400,000 for one-third what it costs to insure my $20k truck. IN FLORIDA. The Hurricane Capital of the known Universe!! And libility on that policy isn't cheap. Lawyers....
Know why? Because there is somewhere around zero chance of my tractor being in road accident. Fire is even more likely with a tractor. Theft of tractors happens a lot more than you thing. So does bashinto trees and turning one over. Almost did that a couple times.
Insurance Companies takes it in with one hand hand and pays it with the other. Not much in between. Adminstrative costs including commisions (usually around 10%).
It's really not a complicated system. The only people that are getting fat off of insurance are -- Guess who?
If you said "Lawyers" you win a prize.
Good advice, but I have had several instances where I read all the fine print ahead of time, totally understood all of it and was still denied claims. My cases ended up in long fight with me contacting the better business bureau. I ended up winning but it came a cost of much stress and dealing with POS on the phone. insurance is a total ripoff. They want you to just give up and move on.
Extended warranties are another insurance related scam. Especially on smaller consumer items. Best Buy used to push this shit. Not sure if they still do, but I declined a purchase more than once over this:
"Do you want to buy 'protection' for the $40 power adapter you're buying?"
"Why? Don't you stand behind the products you sell?"
"Well, uh, yeah-but... "
"Nevermind. I'll shop somewhere else".
"Do you want to buy 'protection' for the $40 power adapter you're buying?"
"Why? Don't you stand behind the products you sell?"
"Well, uh, yeah-but... "
"Nevermind. I'll shop somewhere else".
Edgetho
Diamond Member
- Mar 27, 2012
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To anybody else reading this thread....
If you have trouble with an Insurance Company, a Lawyer is about the last person you want to get involved. Only as a last, VERY LAST resort. Courts are reluctant to get involved in Insurance disputes.
If the Company won't deal with you in a good faith manner, call the Insurance Commissioner. If the Commissioner rules in your favor, they simply take the money from the Insurance Company. No Court ruling no Lawyers, no kidding around. All Insurance companies are required to keep massive Reserves in the State Treasury. Usually in the BILLIONS of dollars. Sometimes less, only Millions or tens of millions. Those are the little guys.
And in many, if not most, States the Insurance Commissioner is also the State Treasurer. He just simply TAKES the money out of their reserves. In fact, in most States, when a claim is filed, the Insurance Company is required to put the limits of the policy in the State Reserves in additon, where it is held in escrow until the claim is resolved. So if your policy has a One Million Dollar limit and you file a claim, the Copany has to put One Million in the State's reserves.
Insurance Companies laugh at the BBB and they eat Lawyers for breakfast (they have their own. Lots of them. And good ones) but the Insurance Commissioner scares the living shit out of them.
Oh, and don't ever threaten an Insurance Company. They're not afraid of you. At all. But the adjuster might decide to slow walk your claim if you piss him/her off.
You people think your little piddly-ass claim is a big deal to these companies? What narcissism. It isn't. It is next to nothing. Less than nothing. A $100,000 claim to a Ten Billion Dollar Company is shit. Less than shit. And a ten Billion Dollar Ins Company is Small/Mid Size. Not even one of the big boys.
Most Claims adjusters are overworked, underpaid and really don't want to be there anyway. They just want the ******* claim GONE. Off their desk. One less headache to worry about. You help them, they'll help you. usually Sometimse
So if you have the misfortune to have to work with an Adjuster, keep that in mind. You get in his face and you might find yourself at the bottom of the pile waiting for Hell to Freeze over.
Believe me when I tell you -- They're not afraid of you.
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