Kansas Crimson

RainbowsandUnicorns wrote: ↑Thu Jan 09, 2025 6:11 am

TDub wrote: ↑Wed Jan 08, 2025 7:27 pm in a moment of understanding this is the wrong way to look at things and only being semi serious

I wonder what the multi millionaire dollar mansions turning to ash in Malibu is going to do to the regular persons homeowners insurance? All those millions of expenses going to get spread out across the rest of the the policy holders

My guess is billions (probably plural) (not millions) of expenses.
It will probably have a bearing on the "regular" person's homeowners (and business owners) insurance.
Moral of the story is....... What?

channeling ousdahl in the....ironic how these mansions are the product of profits funneling to the top.....but when disaster strikes....the costs are going to be spread amongst a large number of middle class everyday people hundreds and thousands of miles away.



in short....Profits go to Princes while the Paupers Pay the Price.




Or..in the words of Travis Tritt

"Why's the rich man busy dancing while the poor man pays the band"

oh they're billing me, while they're killing me. Lord have mercy on the working man.

well said, QDub.

just thinking out loud about the "marketing" part, too.

How much of insurance really is there to market? It's not like there's fancy new technologies to roll out, or industry-changing product innovations each season.

Insurance is insurance. There's not much to it.

As such, the innovations end up being things like...cartoon geckos, and cavemen, and some dood named Jake who wears khakis.

That, and innovations like, dropping customer coverage cuz it helps the short-term bottom line.

ETA I say, "short-term," cuz if the strategy is to just stop doing business with more and more of your customers, how's that gonna work out in the long run?

Well if you nationalized the insurance industry and the options were set by factors largely out of your control/preset then, no, marketing doesn't make sense.

But as of now, asking how much of insurance is there to market and then explaining that there aren't any innovations is moot. There are endless companies that will market on their customer satisfaction, their customizability, their lower rates etc.

I'm with you in agreeing insurance companies are, on the whole, soulless leeches but that doesn't preclude them from having, or stating to have, qualities that make them more enviable than their competition.

TDub wrote: ↑Wed Jan 08, 2025 7:27 pm in a moment of understanding this is the wrong way to look at things and only being semi serious

I wonder what the multi millionaire dollar mansions turning to ash in Malibu is going to do to the regular persons homeowners insurance? All those millions of expenses going to get spread out across the rest of the the policy holders

I loathe the rich as much as the next person who came from nothing, but:

We can take for granted that the losses will be spread out across the rest of the policy holders, because insurance = pooled risk.

Can we also not take for granted that people with more expensive homes pay higher insurance rates?



The insurance execs mention FAIR insurance:

FAIR plan insurance covers high-risk homeowners who otherwise can’t obtain coverage.

Many states offer last-resort FAIR (Fair Access to Insurance Requirements) plans to ensure that homeowners have access to basic coverage, regardless of a property’s location or risk factors.

These plans arose in response to insurers halting coverage of high-risk property in certain areas, such as those prone to wildfires. Rising insurance expenses and costly natural disasters are among the factors that prompted states to launch FAIR plans.

KEY TAKEAWAYS
Many states provide last-resort FAIR plan insurance for high-risk homes and homeowners.
High-risk homes are often located in areas prone to frequent natural disasters.
FAIR plan insurance typically costs more than traditional home insurance.
FAIR plan insurance generally supplies less coverage than traditional home insurance.

How FAIR Plan Insurance Works

[...]

when it comes to insurance, yea the factors are largely out of your control. That's precisely what insurance is meant to cover!

Customer satisfaction and pricing are hardly unique to the insurance industry. The "customizability" is basically limited to the tradeoff of what premium and deductible you're willing to pay weighed against how much coverage you could potentially receive. Or, if there's more customizability you had in mind, please elaborate.

It was another poster on possibly the other bored, but insurance by its very nature is kinda fraudulent. By the very nature of the business, they're either defrauding their customers or defrauding their shareholders. Do they not wanna pay a claim, or not wanna pay a dividend?

Shirley wrote: ↑Thu Jan 09, 2025 8:41 am
I loathe the rich as much as the next person who came from nothing, but:

with that said...

now that all these rich people are now homeless too, how long til Gavin Newsom sends in cops to throw away their remaining belongings and tell them to move along?

Shirley wrote: ↑Thu Jan 09, 2025 8:41 am

TDub wrote: ↑Wed Jan 08, 2025 7:27 pm in a moment of understanding this is the wrong way to look at things and only being semi serious

I wonder what the multi millionaire dollar mansions turning to ash in Malibu is going to do to the regular persons homeowners insurance? All those millions of expenses going to get spread out across the rest of the the policy holders

I loathe the rich as much as the next person who came from nothing, but:

We can take for granted that the losses will be spread out across the rest of the policy holders, because insurance = pooled risk.

Can we also not take for granted that people with more expensive homes pay higher insurance rates?



The insurance execs mention FAIR insurance:

FAIR plan insurance covers high-risk homeowners who otherwise can’t obtain coverage.

Many states offer last-resort FAIR (Fair Access to Insurance Requirements) plans to ensure that homeowners have access to basic coverage, regardless of a property’s location or risk factors.

These plans arose in response to insurers halting coverage of high-risk property in certain areas, such as those prone to wildfires. Rising insurance expenses and costly natural disasters are among the factors that prompted states to launch FAIR plans.

KEY TAKEAWAYS
Many states provide last-resort FAIR plan insurance for high-risk homes and homeowners.
High-risk homes are often located in areas prone to frequent natural disasters.
FAIR plan insurance typically costs more than traditional home insurance.
FAIR plan insurance generally supplies less coverage than traditional home insurance.

How FAIR Plan Insurance Works

[...]

oh for sure, I get all that....

it's just that it takes a large amount of "pooled" resources to rebuild pacific palisades compared to say....Johnny Bs trailer park that got demolished in a Tornado.


Pooled resources to rebuild billionaires vacation homes is what makes me twitch a little bit despite an understanding that this is, essentially, what insurance is for and how it is supposed to work.

It's just a signal of a growing divide right or wrong...

I dont mind a policy increase to rebuild plumber Jose's house...but an increase in my policy costs to rebuild a movie stars mansion sticks in my craw a tad more...

I agree, and felt your comments were likely rhetorical.




*That, and liberal guilt...

Shirley wrote: ↑Thu Jan 09, 2025 9:02 am I agree, and felt your comments were likely rhetorical.




*That, and liberal guilt...

very much rhetorical, and just kind if the musings of a wandering, somewhat dejected by the state of things, mind. Ill go get in my subaru with the Bigfoot sticker and the sticker that says not all those who wander are lost.



*editors note: he does not actually have a subaru. Though, hea considered it to replace the absolute piece of shit, cat piss poor Ford explorer that never should've been purchased. fucking fords....

TDub wrote: ↑Thu Jan 09, 2025 9:10 am

Shirley wrote: ↑Thu Jan 09, 2025 9:02 am I agree, and felt your comments were likely rhetorical.




*That, and liberal guilt...

very much rhetorical, and just kind if the musings of a wandering, somewhat dejected by the state of things, mind. Ill go get in my subaru with the Bigfoot sticker and the sticker that says not all those who wander are lost.



*editors note: he does not actually have a subaru. Though, hea considered it to replace the absolute piece of shit, cat piss poor Ford explorer that never should've been purchased. fucking fords....

In your Birkenstocks...

Shirley wrote: ↑Thu Jan 09, 2025 9:17 am

TDub wrote: ↑Thu Jan 09, 2025 9:10 am

Shirley wrote: ↑Thu Jan 09, 2025 9:02 am I agree, and felt your comments were likely rhetorical.




*That, and liberal guilt...

very much rhetorical, and just kind if the musings of a wandering, somewhat dejected by the state of things, mind. Ill go get in my subaru with the Bigfoot sticker and the sticker that says not all those who wander are lost.



*editors note: he does not actually have a subaru. Though, hea considered it to replace the absolute piece of shit, cat piss poor Ford explorer that never should've been purchased. fucking fords....

In your Birkenstocks...

never....can't go that far.


my entire family loves those things. I cannot understand it. I hate sandals. It's boots for me

do you have one of those "Coexist" bumper stickers too?

or at the very least, one of those bumper stickers that says, "my other ride is your mom."

TDub wrote: ↑Thu Jan 09, 2025 9:10 am

Shirley wrote: ↑Thu Jan 09, 2025 9:02 am I agree, and felt your comments were likely rhetorical.




*That, and liberal guilt...

very much rhetorical, and just kind if the musings of a wandering, somewhat dejected by the state of things, mind. Ill go get in my subaru with the Bigfoot sticker and the sticker that says not all those who wander are lost.



*editors note: he does not actually have a subaru. Though, hea considered it to replace the absolute piece of shit, cat piss poor Ford explorer that never should've been purchased. fucking fords....

Ha. My younger brother recently bought a Subaru Crosstrek, I think it's a 2018. He found it for sale by a one owner older lady for $15k and it only has 30K miles. The funny thing is it was located in upstate NY. Since he had some time off, he booked a one-way flight into Rochester and drove it back to Kansas City non-stop, besides a few cat naps at truck stations. It's a limited edition and nice. Since he drives throughout KC for his nursing job, he needed something more reliable, especially in the winter. He also has a 2022 Honda Ridgeline HRD that he never drives. I think it only has 5K miles on it in 2 years.

What a time to be alive.

california. nuff said.

MICHHAWK wrote: ↑Thu Jan 09, 2025 12:14 pm california. nuff said.

Try thanking California when you are on a computer designed and run by their software sometime rather than being an obtuse crank. Or when you eat. They are the economic engine which runs America.

Sparko wrote: ↑Thu Jan 09, 2025 12:59 pm

MICHHAWK wrote: ↑Thu Jan 09, 2025 12:14 pm california. nuff said.

obtuse crank

is it possible those fires are AI generated.