it\’s all penny and pound foolish, these people don\’t think twice about spending
$ 6 for cig\’s or $ 20 for a bottle of wine…I\’ll just weep and laugh for them
Sad story, but this is true everywhere. I have never run into a client yet who says he pays to little for his insurance. Most people still believe that nothing will ever happen to them. Every day I run into clients who are underinsured or have an exposure not covered, but they don\’t seem to care because it will cost more money to fix. Recently, I lost a Homeowner\’s account because of price. I quoted $1500 annually and it was a great deal considering the amount of coverage. House was in San Francisco, where building costs are running about $300 sq foot. Which is what I put the dwelling value at on my proposal. He came back and said he went with Farmers because the premium was only $500 per year. Since I have access to Farmers rates, I determined that he was insured for $106 a sq foot. I mentioned that to him, no response. So I just closed the file. I just couldn\’t understand how someone could purchase a home for $1.2 mil and then skimp on the insurance to save a thousand dollars.
About 6 years ago we had a horse that had to be put down from an accident & we had no equine coverage on the horse. Being a new horse owner I just did not understand the exposure. Our replacement gelding had coverage before his hoofs hit the ground at our barn.
The Farmers client is in the same boat as I was 6 years ago, they don\’t understand what can happen to his horse/house
sounds like a couple of construction clients that i have that have consistently refused to obtain EPL coverage. They truly believe that none of their employees will ever sue them for wrongful termination, sexual harrassment, discrimination, etc.
Since Asset Verification, Inc. started providing valuation and appraisal services for personal property contents to our inventory service six years ago, we have seen and heard it all. Your former clients willingness to switch to a direct writer for minimal ($500) savings when compared to his possible and probable value of his unisured risk living in a $1.5 MM home is crazy.
Sadly, if homeowners were only informed that they can insure high value items (fine art, antiques, collectibles, etc.) using \”all risk\” valuable article coverage policies for very little cost, is unfortunate.
Your comments about sqaure footage rebuilding costs, unexpected site preparation and disposal costs, code
rebuilding requirments certainly did not help the homeowners whose homes were lost in the brush fire at Scripps Ranch outside of San Diego several years ago.
In the insurance business, you get what you pay for.
it\’s all penny and pound foolish, these people don\’t think twice about spending
$ 6 for cig\’s or $ 20 for a bottle of wine…I\’ll just weep and laugh for them
…and you know the owners? And you don’t feel bad for anything that happened to them or those horses? Or you human?
Sad story, but this is true everywhere. I have never run into a client yet who says he pays to little for his insurance. Most people still believe that nothing will ever happen to them. Every day I run into clients who are underinsured or have an exposure not covered, but they don\’t seem to care because it will cost more money to fix. Recently, I lost a Homeowner\’s account because of price. I quoted $1500 annually and it was a great deal considering the amount of coverage. House was in San Francisco, where building costs are running about $300 sq foot. Which is what I put the dwelling value at on my proposal. He came back and said he went with Farmers because the premium was only $500 per year. Since I have access to Farmers rates, I determined that he was insured for $106 a sq foot. I mentioned that to him, no response. So I just closed the file. I just couldn\’t understand how someone could purchase a home for $1.2 mil and then skimp on the insurance to save a thousand dollars.
About 6 years ago we had a horse that had to be put down from an accident & we had no equine coverage on the horse. Being a new horse owner I just did not understand the exposure. Our replacement gelding had coverage before his hoofs hit the ground at our barn.
The Farmers client is in the same boat as I was 6 years ago, they don\’t understand what can happen to his horse/house
sounds like a couple of construction clients that i have that have consistently refused to obtain EPL coverage. They truly believe that none of their employees will ever sue them for wrongful termination, sexual harrassment, discrimination, etc.
Since Asset Verification, Inc. started providing valuation and appraisal services for personal property contents to our inventory service six years ago, we have seen and heard it all. Your former clients willingness to switch to a direct writer for minimal ($500) savings when compared to his possible and probable value of his unisured risk living in a $1.5 MM home is crazy.
Sadly, if homeowners were only informed that they can insure high value items (fine art, antiques, collectibles, etc.) using \”all risk\” valuable article coverage policies for very little cost, is unfortunate.
Your comments about sqaure footage rebuilding costs, unexpected site preparation and disposal costs, code
rebuilding requirments certainly did not help the homeowners whose homes were lost in the brush fire at Scripps Ranch outside of San Diego several years ago.
In the insurance business, you get what you pay for.