It Just Ain't Right IMO

Today's Journal.....


Severe weather leads to higher insurance rates

Homeowners should expect an increase in their home insurance this year, thanks to Mother Nature.

Gregg Grimes, senior vice president of Insurance Associates in Middletown, said since Hurricane Ike in 2008 and subsequent ice storms across Ohio, storm-related losses due to rain, wind and hail continue to be high.

“Mother nature has had its way with us,” Grimes said.

Grimes said he anticipates an average increase of 10 percent this year — on top of the 5 to 10 percent increases reflected in 2010 and 2011.

“All carriers’ rates are going up,” Grimes said


WELL GRIMES, WHAT ABOUT ALL THE YEARS YOUR INSURANCE COMPANIES COLLECTED ALL THAT PREMIUM MONEY EACH MONTH AND HAD NO PAYOUTS? DID WE HOMEOWNERS GET A DISCOUNT ON OUR RATES BECAUSE IT DIDN'T COST YOUR INSURANCE COMPANY IN CLAIM PAYOUTS? NO.... AS SOON AS YOUR DAM INDUSTRY HAS TO PAY OUT SOME MONEY FOR NEW ROOFS FROM THE WIND OF 2008, YOU JACK THE PREMIUMS UP ON THE LITTLE GUYS. WE HAVE TO HAVE INSURANCE. TOO COSTLY TO REPAIR OURSELVES. YOU KNOW THAT AND YOU ALSO KNOW YOU'RE INDUSTRY IS THE ONLY GAME IN TOWN, SO WE ARE FORCED TO PAY YOUR PREMIUMS, APPROVED BY YOUR INSURANCE BUDDIES AT THE STATEHOUSE. AGAIN, NO PROTECTION FOR THE CONSUMER AS YOU GET THE GOLDMINE AND WE GET THE SHAFT. INSURANCE COMPANIES.....CAN'T LIVE WITH 'EM AND CAN'T LIVE WITHOUT 'EM. JMO

Vet, do yourself a favor. Everyone I have ever spoken to has stated AAA (the auto service provider- towing et al) has the best deal around, for combining home with auto. I have spoken to many, and they have all told me that. I agree with Mr. Grimes. But, try John Schiff Insurance out of Fairfield, they handle Cincinnati Insurance, and have outstanding agents. Raise your deductible to $5,000 for the catastropic fire, storm, etc., and you will knock off 15-20% of the annual premium. But, do not blame IA and Mr. grimes for his comments---he is accurate. Ike increased premiums and areas known to have tornados and such, raise premiums substantially. Ohio is within that belt.  

acclaro wrote: Vet, do yourself a favor. Everyone I have ever spoken to has stated AAA (the auto service provider- towing et al) has the best deal around, for combining home with auto. I have spoken to many, and they have all told me that. I agree with Mr. Grimes. But, try John Schiff Insurance out of Fairfield, they handle Cincinnati Insurance, and have outstanding agents. Raise your deductible to $5,000 for the catastropic fire, storm, etc., and you will knock off 15-20% of the annual premium. But, do not blame IA and Mr. grimes for his comments---he is accurate. Ike increased premiums and areas known to have tornados and such, raise premiums substantially. Ohio is within that belt.

Will decide to respectfully disagree with you Tony B and acclaro. This is a gouge job by the insurance companies on the homeowners, IMO. Similar to the oil and gas industry when they jack up prices at the pump overnight and everyone scratches their heads and says, "what for?" You are right TonyB, they are in business to make money but for cryin' out loud, they don't have to frikkin' "double their money" overnight at the expense of the little guy, do they? Nope, I'm not feelin' the love from Grimes or any other insurance gouger. I'll repeat what I said.....the homeowners needed a break on the premiums when things were going well for the insurance company but didn't get it. Instead, we get an increase when THEY have to pay out of their windfall on premiums collected when no payouts have occured. It is a one way street with this industry. They want their premium money like clockwork but when it comes time to pay out, the penalties start rolling in and they jack the premiums up overnight because they want to recoup the losses as fast as possible. JMO .......Observers comments cover the years 2008 and 2011 when the insurance industry took hits in payouts. That takes care of two years. What about the others when times were better? What did they do with the money collected?

TonyB wrote: Vet,How do you think these insurance companies keep the little guy down? If they double their money overnight, they'll want to double it again tomorrow!!! There seems to be only one ethic and that's the "Monopoly" ethic; whoever has all the money and all the property wins the game!!!

TonyB....Allstate (or another well-known insurance company) advertises on TV that if you don't have an accident in a certain amount of time, they will cut you some slack on the premiums. I know of no other insurance company that will refund you money if you don't have a claim in a certain period of time. All I ever see are the premiums going up, even with no claims. I do know that some insurance companies will cancel you altogether if you have a claim on an auto accident, albeit your first accident OR, they jack your premium up so high, you end up canceling them and finding another carrier. No, none of the insurance companies are the people's friend. They're only around because it's cost prohibitive to the people to buy a new car/house. Only here as the lesser of two evils and unfortunately the only game in town. They cut the insured no slack by reducing the premiums when things are very profitable for them and raise their premiums when they must pay out.....and that's crap IMO. If these insurance companies have the extra money to make investments in properties and other ventures, they have enough money to cut us some slack on the premiums, but they don't.