nice comments, sounds like you insurance agents should be selling cars. as an agent you should keep abreast of local building costs, contact insureds on needed coverage and advise them properly. you would have to have your head in the sand to not know building costs have skyrocketed in california. computer programs are no substitute for good work ethic.
Let’s see, he wanted to be gov so he quit DOI job, lost nom, was put into seclusion by Clint Admin, returned, got commish job again, now wants to trade positions with Bust-e-monte, then to gov when Arnie’s done. In the meantime he is going to make the Ins. industry the fall guys for insureds who want to save a few bucks in premium. Sounds like everything is going the way he wants it for now! In the meantime we (ins) do nothing other than say, how high is the water, 3′ foot and still rising! At some point we let this idiot drown us in regulation or the threat of…..
It will be a cold day in hell before Quackamendi becomes Governor. He has left a legacy of dirty deals while in the Commissioner’s job (i.e, State Fund RBC audit). As far as I am concerned, he should go back to farming and get out of politics as he does more harm than good.
If you are sick and go to your doctor, you don’t ask or tell what the kind and dose of medicine is going to be. The doctor does that. The same goes for the insurance agent. We asked our agent twice–6 months before the fire and the day of the fire because we were worried it wasn’t enough. And they said not to worry, we were completely covered. We found out like 95% of all the fire victims, we were grossly underinsured. It costs at least $200 a square foot for the average house to be rebuilt, more like $300 with today’s building costs. Times that and the orginal square feet of your house and you will get a closer estimate of what your house will cost to rebuild. This is a house with no extras! And if the insurance companies used the full quote of Marshall and Swift, they would have come closer to these figures.
Hey I have and idea, how about talking to the builders. Who over charges when the insurance check is in the mail. It should not and does cost $300 sq ft to build these stucco homes.
Good for you! All of your comments are right on the mark! Quackamendi did a crappy job as commissioner the first time around & is doing the same thing this time. How did he get reelected? The industry needs to strike back or we will be in deeper trouble!
We see issues similar to this all year long on total loss properties due the the different quality of homes built in CA. You can have a house that would require $117/sq.ft. to rebuild next door to a house that is $300/sq.ft. both insured by the same carrier. Whos responsiblity is it to insure the property at its correct value? The homeowner, insurance carrier, broker or agent selling the policy?
It is indeed the homeowners responsibility to insure the proper value of a home, BUT the agent or broker has an obligation to explain what the amount is, how to calculate it, and sign a statement proving that he/she made a conscious choice to insure for less than the replacement cost. After a major loss is the wrong time to get educated about co-insurance and replacement value.
It should shame anyone who votes democrat when bozos like Garamendi are elected for office. Feinstein, Boxer the State Senate and Assembly are filled with examples of hacks and goof balls who would be anonymous and unemployed if they weren’t democrats. I mean look at Kevin Shelley and Phil Angiledes. Millions of people vote these jokers in every year because they are in the party of the donkey.
I think that John and Ken got it right…the political human sacrifice and Gumbys recall will be what really changes politics in California. I say we try this in ’06 as well. Find a commisioner who will actually do some good
Rob is right, however insureds will scream bloody murder if their homeowners premium goes up by $50 bucks, and they’ll argue with the agent and think the agent is just out for more commission. However as soon as there’s a loss they’re crying to the media that the big bad insurance company is being mean to them, and they fail to mention that they flatly refused the coverage they needed when it was offered. Most of society seems to think insurance is a social service and they’re entitled to be repaired without having to pay for it.
The ins geek is right. It will have to become where the consumer has to sign a waiver that acknowledges he was offered more coverage and refused it because he did not want to pay $50 more premium. Consumers need to grow up and get educated.
AS AN OLD RETIRED INS. ADJUSTER FROM ANOTHER STATE, I WAS CUREOUS ABOUT VALUE POLICY LAW IN CALIFORNIA?
ALL I COULD FIND WAS A LOT OF ABUSE IN REFERENCE TO THE INSURANCE COMMISSIONER.
WHY FORGET THE AGENT? HE MAKES THE MONEY BUT IF HE WOULD SPEND A LITTLE TIME EVALUATING VALUE, ADJUSTERS WOULD HAVE A LOT LESS HEART ACHE, WORRY, AND HAVING TO LISTEN TO ALL THOSE BAD WORDS DESCRIBING THEIR HISTORY. HAVEN, ONE YET THAT I DID NOT REALIZE WAS A BAD WORD, BUT HAVE NOT KNOWN WAS SOMETHING BD.
EVERY ONE SEEMS TO FORGET THE AGENT ONLY MAKES 15 TO 20%. CO INSURANCE AND REPLACEMENT COST WOULD NOT BE AN ISSUE.
GOOD LUCK TO THE ADJUSTERS IN REFERENCE TO THE CURRENT FIRES.
nice comments, sounds like you insurance agents should be selling cars. as an agent you should keep abreast of local building costs, contact insureds on needed coverage and advise them properly. you would have to have your head in the sand to not know building costs have skyrocketed in california. computer programs are no substitute for good work ethic.
Let’s see, he wanted to be gov so he quit DOI job, lost nom, was put into seclusion by Clint Admin, returned, got commish job again, now wants to trade positions with Bust-e-monte, then to gov when Arnie’s done. In the meantime he is going to make the Ins. industry the fall guys for insureds who want to save a few bucks in premium. Sounds like everything is going the way he wants it for now! In the meantime we (ins) do nothing other than say, how high is the water, 3′ foot and still rising! At some point we let this idiot drown us in regulation or the threat of…..
On why it cost 200% more to build a house in CA than the rest of the country.
As Ceasar was ambitious, so is Garamendi.
His eye is on the governor’s job, and like
Senator Kerry, he is willing to do anything to get there.
It will be a cold day in hell before Quackamendi becomes Governor. He has left a legacy of dirty deals while in the Commissioner’s job (i.e, State Fund RBC audit). As far as I am concerned, he should go back to farming and get out of politics as he does more harm than good.
If you are sick and go to your doctor, you don’t ask or tell what the kind and dose of medicine is going to be. The doctor does that. The same goes for the insurance agent. We asked our agent twice–6 months before the fire and the day of the fire because we were worried it wasn’t enough. And they said not to worry, we were completely covered. We found out like 95% of all the fire victims, we were grossly underinsured. It costs at least $200 a square foot for the average house to be rebuilt, more like $300 with today’s building costs. Times that and the orginal square feet of your house and you will get a closer estimate of what your house will cost to rebuild. This is a house with no extras! And if the insurance companies used the full quote of Marshall and Swift, they would have come closer to these figures.
Hey I have and idea, how about talking to the builders. Who over charges when the insurance check is in the mail. It should not and does cost $300 sq ft to build these stucco homes.
Good for you! All of your comments are right on the mark! Quackamendi did a crappy job as commissioner the first time around & is doing the same thing this time. How did he get reelected? The industry needs to strike back or we will be in deeper trouble!
ANYONE KNOWS YOU CAN ONLY WRITE WHAT THE INSURED WILL PAY FOR WHERE HAS YOUR COMMISSIONER BEEN?
We see issues similar to this all year long on total loss properties due the the different quality of homes built in CA. You can have a house that would require $117/sq.ft. to rebuild next door to a house that is $300/sq.ft. both insured by the same carrier. Whos responsiblity is it to insure the property at its correct value? The homeowner, insurance carrier, broker or agent selling the policy?
It is indeed the homeowners responsibility to insure the proper value of a home, BUT the agent or broker has an obligation to explain what the amount is, how to calculate it, and sign a statement proving that he/she made a conscious choice to insure for less than the replacement cost. After a major loss is the wrong time to get educated about co-insurance and replacement value.
It should shame anyone who votes democrat when bozos like Garamendi are elected for office. Feinstein, Boxer the State Senate and Assembly are filled with examples of hacks and goof balls who would be anonymous and unemployed if they weren’t democrats. I mean look at Kevin Shelley and Phil Angiledes. Millions of people vote these jokers in every year because they are in the party of the donkey.
I think that John and Ken got it right…the political human sacrifice and Gumbys recall will be what really changes politics in California. I say we try this in ’06 as well. Find a commisioner who will actually do some good
Rob is right, however insureds will scream bloody murder if their homeowners premium goes up by $50 bucks, and they’ll argue with the agent and think the agent is just out for more commission. However as soon as there’s a loss they’re crying to the media that the big bad insurance company is being mean to them, and they fail to mention that they flatly refused the coverage they needed when it was offered. Most of society seems to think insurance is a social service and they’re entitled to be repaired without having to pay for it.
The ins geek is right. It will have to become where the consumer has to sign a waiver that acknowledges he was offered more coverage and refused it because he did not want to pay $50 more premium. Consumers need to grow up and get educated.
Time to get out of insurance and go into politics, or get a state job..
d
AS AN OLD RETIRED INS. ADJUSTER FROM ANOTHER STATE, I WAS CUREOUS ABOUT VALUE POLICY LAW IN CALIFORNIA?
ALL I COULD FIND WAS A LOT OF ABUSE IN REFERENCE TO THE INSURANCE COMMISSIONER.
WHY FORGET THE AGENT? HE MAKES THE MONEY BUT IF HE WOULD SPEND A LITTLE TIME EVALUATING VALUE, ADJUSTERS WOULD HAVE A LOT LESS HEART ACHE, WORRY, AND HAVING TO LISTEN TO ALL THOSE BAD WORDS DESCRIBING THEIR HISTORY. HAVEN, ONE YET THAT I DID NOT REALIZE WAS A BAD WORD, BUT HAVE NOT KNOWN WAS SOMETHING BD.
EVERY ONE SEEMS TO FORGET THE AGENT ONLY MAKES 15 TO 20%. CO INSURANCE AND REPLACEMENT COST WOULD NOT BE AN ISSUE.
GOOD LUCK TO THE ADJUSTERS IN REFERENCE TO THE CURRENT FIRES.
BEEN THERE!!!!