The Murray Group - Latest Comments

Re: Insurance is a Scam

nan — Tue, 20 May 2014 10:30:08 -0000

The problem with this story is that it doesn't end with the homeowner receiving their claims check. You forgot the part where the insurance company jacks up the guys rate for years to come and gets the money back. You must include the subsequent rate increase in your calculations.

Insurance is considered a scam because we buy into a risk "pool" yet are penalized as an individual when we claim. These penalties (in the form of raised rates and dropped coverage) are often greater than the initial claim. Don't even get me started on the legalese, the loopholes, and the hard up-selling of unnecessary coverage and the like.

People think that insurance is a scam because that's often exactly what it is.

Re: Insurance is a Scam

Nate Morey — Wed, 26 Mar 2014 15:23:36 -0000

Wow, so what you said in a nutshell is, insurance is not a scam because he got the money he paid back? How is that not a scam??? he could have just saved it himself, and just had it! The bottom line is this, are insurance companies profitable? if yes, they make more then they give out, if that is true, someone is getting screwed over, could it be, everyone? just save your money yourself, don't count on anyone else, don't get charged money to have your money used in your favor, don't deal with the hassle! sure, it is a gamble, but so is paying for something you may never get a return on. place your bets. only one could result in 0 loss though. being of course, no insurance.

Re: Insurance is a Scam

Ryan Hanley — Thu, 06 Mar 2014 09:02:36 -0000

Avi,

I definitely hear what you're saying and have had many people make this same claim. But how do you know if you're going to be the person whose home burns down or not?

You're right, here in the States the only thing that is compulsory is Auto Insurance on the personal side and Workers Compensation on the business side.

You don't have to buy it, so if you do... then it's not really a scam, right? You made a conscious decision that peace of mind was more important than whatever premium you paid.

I don't like paying insurance either. But two years ago a tree fell hit our roof and insurance paid $15,000 to replace it. That is 18 years worth of insurance payments.

For me, insurance was a pretty good deal...

Re: Insurance is a Scam

avl — Thu, 06 Mar 2014 08:55:42 -0000

Anyway my point is your story is pretty ridiculous, for each one of your clients who saved 40,000 by having insurance (they had paid 5,000 already and then you said it was several years later the fire occurred). But for each one of those there will be at least 9 clients who never claim. There has to be, if there weren't then insurance companies would go bust, they have to by definition charge more for insurance than they pay out in claims. The only reason to have it is if you would be financially ruined by the loss of an uninsured asset, if you're rich, don't get insurance, if you're middleclass get it on your house and nothing else

Re: Insurance is a Scam

avl — Thu, 06 Mar 2014 08:49:42 -0000

Insurance is a scam in the same way gambling at a casino is a scam. The house always wins. Individuals may benefit by having insurance when their house is broken into etc or by beating the house at blackjack but as an entire population people lose more money on insurance than they save by having it. The only time insurance is neccessary is when you absolutely cannot afford not to have it (i.e. on an object you cannot afford to replace). In the UK where i am the only thing i can think of your is house (and home insurance is pretty cheap). Plus motor insurance which is compulsory. Anything else is a waste of money statistically speaking, you can probably add health insurance onto this if you're american but otherwise the same applies.

Re: 17 Leadership Characteristics the Boss Expects You to Know

zeleke teshome — Thu, 20 Feb 2014 02:51:54 -0000

I preferred that leadership notes. let you share more and more for your good expectancy.

Re: When Do I Drop Collision Coverage?

Ryan Hanley — Fri, 31 Jan 2014 08:38:33 -0000

My advice in that case would be to buy the physical damage coverage offered by the rental car company if you're worried about an accident.

Great point!

Re: When Do I Drop Collision Coverage?

justwondering — Thu, 30 Jan 2014 14:28:51 -0000

Ryan - what is not mentioned about dropping collision is that if you rent a car and you are in an accident you are hosed. The mathematical equation for the rental car would go askew.
What then in your opinion would be a good option if you drop collision but will need to cover yourself on vacation if you rent a car?
thanks :)

Re: When Do I Drop Collision Coverage?

Richard — Fri, 24 Jan 2014 18:57:23 -0000

Karen,
Not a very smart idea. If you caused the accident they would take every penny you have and more. Cheap liability insurance means "take my money and life". You can't believe my lawyer would only collect 5000 dollars from you if my medical bills were 100,000?

Re: 7 Easy Ways to Overcome Complacency and Make Good On Your Resolutions

Jeff Wenberg — Wed, 15 Jan 2014 16:49:40 -0000

Cool, going to check out Canva now. Thanks for the tip!

Re: 7 Easy Ways to Overcome Complacency and Make Good On Your Resolutions

Ryan Hanley — Wed, 15 Jan 2014 15:11:30 -0000

Thanks @Jeff Wenberg! I created the images with www.canva.com and leadpages/leadboxes is my favorite. Two of my favorite tools.

Re: 7 Easy Ways to Overcome Complacency and Make Good On Your Resolutions

Jeff Wenberg — Wed, 15 Jan 2014 10:00:51 -0000

Love the LeadBoxes on the page as well as their linking images. Not to mention this blog post is great.

Re: When Do I Drop Collision Coverage?

Karen Mo — Sun, 12 Jan 2014 16:56:04 -0000

in my opinion, u should drop everything (collision, comprehensive, towing, uninsured motorist, etc) and just get a cheap liability insurance plan (4autoinsurancequote has them from like 10 dollars a month)

the rest of the money you can save in an account to use for a rainy day. chances are, u will never make an insurance claim (insurance companies bet on this ... this is how they make money to pay for expensive TV ads etc.), so it's better to get as little as you legally can and then save the rest

Re: The Ultimate Guide to NY Accountants Professional Liability Insurance

Myles Curren — Wed, 04 Dec 2013 06:56:28 -0000

Professional liability insurance is very important for an accountant firm. It could be proved brutal to lose professional liability insurance for a firm. This ultimate guide reveals some effective ideas those could be worked nicely.

Re: Does Home Insurance Cover Dog Bites? [Video]

Ryan Hanley — Thu, 07 Nov 2013 07:02:31 -0000

I use it for notes and so I get the question right and who the question is from.

Re: Does Home Insurance Cover Dog Bites? [Video]

Jack — Thu, 07 Nov 2013 06:49:43 -0000

Why is there a laptop in front of you?

Re: How to Receive New York Winter Weather Alerts [Video]

Ryan Hanley — Tue, 01 Oct 2013 08:37:36 -0000

Thanks Jason!!

Re: How to Receive New York Winter Weather Alerts [Video]

Jason Diller — Tue, 01 Oct 2013 08:13:39 -0000

Awesome post.

Re: Progressive Snapshot Auto Insurance Comes to Albany, NY

Naive — Tue, 01 Oct 2013 00:13:22 -0000

Snapshot damaged my car when I plugged it in. Google all the reports of computer systems, batteries, etc. being damaged by the Snapshot. Several mechanics and other auto business people have said DO NOT plug items into the OBD port other than a scanner/code reader.

Re: When Do I Drop Collision Coverage?

Psalmist Gerald Gossey — Sat, 14 Sep 2013 12:27:13 -0000

I have a 99 GMC Yukon denali maybe worth 4000 or 3800. I may struggle because I recieve disability benefits. I currently have liability on it, under my parents address which gives me a discount skinniest like 50$ or more! By myself it would cost me 100, mo or more like max. 170. Well. I am 31 now and have been waiting for my insurance to go down so I can pick any company and not have to rely on my parents policy. My other question is about collision. I have always steered away from collision or full coverage if I have the opportunity to like having a lien holder. Not sure what the equation is for my car but maybe you can help me count up the cost.

Re: Impact of Structural Issues on Home Loan Closing [Video]

flakespaul — Tue, 10 Sep 2013 11:36:33 -0000

This is true that home buyers understand it very well that repairing costs for a structural issue should go beyond approximately 1,500 dollar in order for a structural issue to impact the home loan closing. This is really a big amount. This can really make a bad impact on home loan industry.

Re: Does my credit rating influence my car insurance premiums?

JPGreene — Fri, 02 Aug 2013 15:26:40 -0000

For more on credit-based scoring...from the insurer perspective...see this report: http://www.wrin.tv/index.ph...

Re: When Do I Drop Collision Coverage?

Ryan Hanley — Fri, 05 Apr 2013 18:19:01 -0000

Harold,

Is it OK if I respond via email?

Thanks,

Ryan H.

Re: When Do I Drop Collision Coverage?

Harold Dettloff — Fri, 05 Apr 2013 12:35:43 -0000

I have a 1997 chevy. lumina 75000 miles Blue Book 2500.00 collision deductible is 151.00 for six months, Do you think I should drop the deductible?
Thank you, Harold

Re: How to Find the Best Albany Health Insurance Coverage

Amber Barnes — Fri, 05 Apr 2013 01:40:04 -0000

Great tips! Health insurance really counts so much. This is so helpful in our lives. Thanks for sharing!