The insurance trainwreck is getting worse especially for homeowners! This also includes auto and commercial insurance. Do yourself and get a yearly insurance checkup!
Пікірлер: 52
@digi-deals.onlineАй бұрын
I am an insurance agent and sadly agree with a lot of what you’re saying. The challenge is, no one seems to be coming up with a good solution. Everyone seems to complain, but no one comes up with any good ideas on how to fix the problem. Open to thoughts!
@FrugalMeScottАй бұрын
@@digi-deals.online thank u so much for your input. I have no doubt that you have worked very hard to build your business. I have a few ideas but it’s a bit discouraging due to the size of this issue. I’m working on some ideas but I want to make certain that I’m correct before making another video. With this inflation problem, I’m afraid it’s going to force many people to make some hard choices, especially our elderly/retired. Thank u for your input and thank u for taking good care of your policy holders.
@jasonconrad577227 күн бұрын
We need more insurance representatives that are more proactive. I knew one that helped a guy get a construction business going by giving him a personal loan. The loan was given with an agreement that the cost be 10% under the lesser of the customer's 2 estimates when called upon. The contractor didn't get rich, but he maintained consistent work and did a little better for himself.
@FrugalMeScott27 күн бұрын
@@jasonconrad5772 awesome. We are all in this together!
@jasonconrad577227 күн бұрын
@@FrugalMeScott The contractor couldn't handle the full workload so he'd review the estimates to determine which ones were over inflated and just pick those. Not sure how legal it was, but the only ones that were affected were the greediest contractors.
@martyswaney1098Ай бұрын
Funny, progressive ad popped up while watching. I'm ready to go free range.
@FrugalMeScottАй бұрын
@@martyswaney1098 Progressive likes us!
@danielguza5013Ай бұрын
I have a couple of suggestions that I have found help with keeping insurance prices lower. We have a high deductible ($5,000) on our Homeowners insurance. We drive older cars that are paid off so we can go with liability only and being retired we drive less than 2,000 miles a year. We have Safeco through an independent agent both homeowners and auto so we get a multi policy discount and we have a history of no claims by self repair on the small stuff.
@FrugalMeScottАй бұрын
@@danielguza5013 that is excellent information and thank for for sharing and participating!
@yellowbird5411Ай бұрын
I also drive an old car (2000) and have liability only for $57 per month through State Farm. Driving an old car can save anyone buckets of money in insurance and car payments. All the new cars are lined up at the food banks.
@FrugalMeScottАй бұрын
@@yellowbird5411 that is exactly right!
@bobbyyoung2831Ай бұрын
You mentioned Texas I live in Texas Governor Abbott got our property taxes just about cut in half saved me $1,000 this year then what happened to my homeowner's insurance it went up $800 in one year the insurance company saw all that free money sitting there that we weren't having to pay in property taxes and decided to scoop it up. This is wrong and it should be dealt with. I have had zero claims but I'm fixing to find something because of the hurricane that just came by my house
@FrugalMeScottАй бұрын
@@bobbyyoung2831 check with Becky Basek at First Insurance Services in Jasper Tx.
@bobbyyoung2831Ай бұрын
@@FrugalMeScott Thanks
@randiD123Ай бұрын
Just as you mentioned progressive, a commercial popped up! And people think they aren't tracked! 😂
@FrugalMeScottАй бұрын
@@randiD123 correct!
@conehead44534453Ай бұрын
I enjoy your videos, I use a company called The Woodlands financial group or TWFG. ITS A Independent agency. My renewal for my home owners is not till November, but I just got a notification that I have to let some one they sent out to run a Drone over my house and take pictures of the roof. Roof is 19 years old. But it still looks great.
@FrugalMeScottАй бұрын
@@conehead44534453 be prepared. They’re looking for any reason to raise rates or cancel.
@200cdlАй бұрын
You'll get 1 of 2 things , a letter saying replace it , or a letter saying you'll only have a actual cash value if something happens, and in your case you might get a check for $3'000. To replace the roof that's that old, I give you good luck
@FrugalMeScottАй бұрын
@@200cdl thank u for your information.
@jamesc9327Ай бұрын
As always, it's a great video on homeowners rip-off companies, Scott. We have been lucky having the same agent for over thirty-five years. Good luck with your future youtube videos, sir. 👍👍👍👍
@FrugalMeScottАй бұрын
@@jamesc9327 Thank u for your input.
@yellowbird5411Ай бұрын
I dropped my home insurance completely when they hit me with an increase in the past few months of $1,100 a year for my two houses. That's just the increase. The insurance company said it was going to increase again, too. If I had paid both insurances as priced, I would have paid over $400 per month, just for insurance. So, as I said, I dropped my homeowners, and dropped the rental house down to liability only, which comes to around $600 a year. Both houses are paid off. I understand it is a chance I am taking, but I live in an area that, while in a hurricane "zone" (St. Petersburg, Fl) has a unique ability to not get hurricanes full force. They either sideswipe us or go south/north of us. This area is known for this. Maybe it's the air currents, who knows? Not saying it couldn't happen, but I won't be held hostage for the rest of my retirement. I'd rather have that extra money to live on. I feel so sorry for people who are carrying mortgages and are also being hit with increased taxes plus insurance rates and can't choose to drop insurance because the mortgage company won't let them. So many are being force to sell now. And it's no fault of the homeowners. People who have flood coverage on top of the insurance, I just don't know how they are going to manage.
@FrugalMeScottАй бұрын
@@yellowbird5411 very well said!
@couponuserАй бұрын
You bring up excellent points in your videos. Here's what I think will happen in high-risk states like CA, CT, FL, NJ, NY, and LA: Home insurance will be managed like flood insurance, directly by the state or federal government. There will be a list of qualified insurance companies to underwrite the policies, similar to how GEICO contracts with other companies for home insurance. These policies will likely cover only dwelling at a fixed amount, with limited coverage for other things and a high deductible based on the dwelling's value. A unique option might be an HSA-like account for home claims, where a certain amount is set aside tax-free each year for legitimate claims.
@FrugalMeScottАй бұрын
@@couponuser I believe you are correct!
@andyd5492Ай бұрын
CT a high risk state? It does have a shoreline but it's not that big.
@davidtwister6936Ай бұрын
Common Sense is a new Conspiracy now.
@FrugalMeScottАй бұрын
@@davidtwister6936 you are absolutely correct!
@sistergoldenhair2231Ай бұрын
Live in Calif. No claims Farmers dropped me. Took 2 days to get new insurance. Have to pay $600 a year more😮.
@FrugalMeScottАй бұрын
@@sistergoldenhair2231 I’m so sorry for what you are going through. We are all in this together and we must find a solution!
@feelnriteАй бұрын
I think the day is coming that we wont have insurance like years and years ago.
@FrugalMeScottАй бұрын
@@feelnrite many will be forced to drop it.
@cynthiaduckworth531Ай бұрын
good info
@FrugalMeScottАй бұрын
@@cynthiaduckworth531 thank u
@jimcramer9656Ай бұрын
State Farm offers credit cards so they are definitely branching out!
@FrugalMeScottАй бұрын
@@jimcramer9656 oh yes and we know what kind of trap that is!
@yellowbird5411Ай бұрын
Really?? I'm with State Farm, but use a 2% money back card with Truist (was Suntrust before they merged). If State Farm has a 3% money back card, I may go with them. I'll look it up.
@FrugalMeScottАй бұрын
@@yellowbird5411 thank u please let us know.
@FrugalMeScottАй бұрын
@@yellowbird5411 let us know. Thank u
@jimcramer9656Ай бұрын
@@yellowbird5411 yeah they still have it. Although I’m currently shopping other places. State Farm has went up on my car insurance by 60 percent in the last year!
@user-kl6qp5gv8eАй бұрын
Hi Scott I'm looking to move in the south georgia area there are two towns I'm currently looking at Hahira,ga and Lakeland,ga there isn't enough information online do you know these areas are they good.
@FrugalMeScottАй бұрын
I’m sorry. I don’t have any knowledge about those two towns. I’m actually close to Brunswick Ga.
@prs44Ай бұрын
oh the irony....how many of us got a progressive ad while watching this?
@FrugalMeScottАй бұрын
@@prs44 lots!
@yellowbird5411Ай бұрын
I have blocked ads with AdBlock, on my computer, so I don't have to suffer through them any more. Waste of my life.
@MichaelBrown-nc7jxАй бұрын
The corporate swamp and can't help the poor have health insurance, Corporate welfare