This is great information. Thank you for having this conversation for our benefit!! The gems I picked are to explore/investigate: (1) sewer back-up, (2) sewer line coverage, (3) inflation guard protection, (4) mechanical breakdown, & (5) gas line (front door to the street (city). Thank you, thank you!!!😊❤
IN FLA, some ppl started depositing payments for insurance into a savings account to use IF damage was done to home. They cut ins. completely out of their spending/just saved the funds.
This was very informative. We may ask questions. However, who knew about all of these add-on policies existed. The average person probably wouldn't have a clue to even think about those. This was great. Thank you.
Very informative! Thank you!! I needed this info last year when shopping around for insurance. My previous company dropped my home insurance. I live in Southern California. I currently have farmers insurance but my rates went up like 2 grand a year.
Here in Miami, Florida the average premium are about 11,500 per year. But when it was housing shortage came people started jacking up the prices on their houses. Here in Miami a 3 bedroom 2 bath 1100 square feet can go for anywhere from 450 to 500 thousand, that same house before the shortage was about 250 for the same square footage. The houses are way over priced. I live in a 1,000 square foot house and I’m charge a little over 11,000, but since I have hurricane windows and doors plus a new roof and electrical I pay a little over 3,000 for my home the value of my home is about 300,000
Well here in Florida a lot of insurance companies pulled out of the state. We was left with the state run insurance company which is citizens. If new companies come to the state citizens will put you with them, but they can’t be more than 20% higher than citizens and we are not choosing them they are choosing us and they are only choosing you is because have impact hurricane windows and doors, new roof and electrical wiring
Great info. I had a sewage backup and the insurance did pay. Then they dropped me after. NY state does have a insurance that is separate for water and sewage line that I believe is thru American Water Resources but I do have full coverage from the state. I have not switched back to a regular company because they want me to pay more for less coverage.
Insurance companies have a motto. If you don't ask, they won't tell. Also we need to research umbrella insurance because it covers more than just primary insurance.
That's no excuse for them not to pay the people back. Here in the city of Detroit, a pastor and his wife had been paying for over 40 yrs, and received a letter in the mail saying. They dropped them after 40 yrs. of receiving payments
If all the premiums collected are assumed to be put into a big pot, and the risks from certain geographic areas are different, doesn’t that balance out the risks from other demographic ares?
At the end of the day, insurance companies make money when accidents don't occur. the higher the probability of an occurrence, the less likely chance of the insurance company making money. Insurance companies play a game of probabilities. So if the probability of an occurrence occurs clients get dropped. It's tough a situation. I understand from the insurance companies perspective as well as the home owner. Sadly have to be careful where you move and do your due diligence.
These guys are diabolical using Blackness can hyperbolic examples as a means to sway the people to see it from the perspective of the insurer which is often predatory which tells me by the way that these guys speak that they're okay with this predatory behavior that insurance companies engage in because they benefit from it" so does that make them also predatory?"
Thank you MG for having these men drop knowledge, very important
This is great information. Thank you for having this conversation for our benefit!! The gems I picked are to explore/investigate: (1) sewer back-up, (2) sewer line coverage, (3) inflation guard protection, (4) mechanical breakdown, & (5) gas line (front door to the street (city). Thank you, thank you!!!😊❤
And don’t forget looking into raising your deductible to lower your premium.
IN FLA, some ppl started depositing payments for insurance into a savings account to use IF damage was done to home. They cut ins. completely out of their spending/just saved the funds.
This was very informative. We may ask questions. However, who knew about all of these add-on policies existed. The average person probably wouldn't have a clue to even think about those. This was great. Thank you.
This was VERY Useful 💯💯💯
this was a great and informative episode, thank you for sharing.
I needed this clarification on how the insurance companies work.
Very informative! Thank you!! I needed this info last year when shopping around for insurance. My previous company dropped my home insurance. I live in Southern California. I currently have farmers insurance but my rates went up like 2 grand a year.
This was needed and very helpful!
Greatly appreciated, gentlemen. Thank you.
Thank you for this information! Wow!
Thank you. I am a new home owner and this was perfect
Thank you gentlemen...appreciate it. Need to have some hard family conversations for sure
😮 I’m just floored! Thank you MG, thank you gentlemen. Great gems 💎 💎S
Thank you! This information is so important to know and understand! I’m passing this on and sharing 🙏🏽
Sewage backup coverage /Inflation guard /mechanical coverage >>extra add ons on you insurance
Thanks @brucewilliams
This was a good video extremely informative appreciate it brothers learned a lot
Here in Miami, Florida the average premium are about 11,500 per year. But when it was housing shortage came people started jacking up the prices on their houses. Here in Miami a 3 bedroom 2 bath 1100 square feet can go for anywhere from 450 to 500 thousand, that same house before the shortage was about 250 for the same square footage. The houses are way over priced. I live in a 1,000 square foot house and I’m charge a little over 11,000, but since I have hurricane windows and doors plus a new roof and electrical I pay a little over 3,000 for my home the value of my home is about 300,000
Great interview. Gonna make a video of my important items and interview my agent. Will order the book also
Very informative. Thank you!
Real gems given tonight, thank you gentlemen.
MAAAN WHAAAT????? This information right here. I’m headed to speak with my agents. Thank you. Thank you. 💎
How does this work with coops?
This is outrageous 😳 They knew!
Thanks for the info.
Also consider cosmetic matching exterior hail damage endorsements under your policy.
Thx MG😊
Well here in Florida a lot of insurance companies pulled out of the state. We was left with the state run insurance company which is citizens. If new companies come to the state citizens will put you with them, but they can’t be more than 20% higher than citizens and we are not choosing them they are choosing us and they are only choosing you is because have impact hurricane windows and doors, new roof and electrical wiring
Great info. I had a sewage backup and the insurance did pay. Then they dropped me after. NY state does have a insurance that is separate for water and sewage line that I believe is thru American Water Resources but I do have full coverage from the state. I have not switched back to a regular company because they want me to pay more for less coverage.
Insurance companies have a motto. If you don't ask, they won't tell. Also we need to research umbrella insurance because it covers more than just primary insurance.
Thank you for that info I have appt. next week about a trust&will
Please purchase dwelling replacement cost with inflation protection. And brand new belongings for personal property.
Do you assist with homeownership in PA
The industry needs an overhaul
Dam, I never knew that you have to have life insureance to get a SBA loan. The TH-cam bloggers left that part out. lol
That's no excuse for them not to pay the people back. Here in the city of Detroit, a pastor and his wife had been paying for over 40 yrs, and received a letter in the mail saying. They dropped them after 40 yrs. of receiving payments
If all the premiums collected are assumed to be put into a big pot, and the risks from certain geographic areas are different, doesn’t that balance out the risks from other demographic ares?
At the end of the day, insurance companies make money when accidents don't occur. the higher the probability of an occurrence, the less likely chance of the insurance company making money. Insurance companies play a game of probabilities. So if the probability of an occurrence occurs clients get dropped. It's tough a situation. I understand from the insurance companies perspective as well as the home owner. Sadly have to be careful where you move and do your due diligence.
Bad land use based around Euclidean zoning accelerated not enough green infrastructure.
I’m walking away from this episode with homework.
GUYS LETS TALK ABOUT HOW TO NAVIGATE AND GET THE MOST OUT OF YOUR POLICY ONCE YOUR HOME IS A CLASIFIED AS A LOSS.
Seriously? These companies knew the fires were coming!!!
These guys are diabolical using Blackness can hyperbolic examples as a means to sway the people to see it from the perspective of the insurer which is often predatory which tells me by the way that these guys speak that they're okay with this predatory behavior that insurance companies engage in because they benefit from it" so does that make them also predatory?"