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JT45242

(4,163 posts)

14. Peace of mind for the bank only...

Reply to mahatmakanejeeves (Original post)

Sun May 31, 2026, 10:23 AM

10 hrs ago

Deductible soaring. Rates rising at multiples of inflation.

Privatized profits and socialized losses.

Home owners insurance is really just there to protect the bank if your house gets hit by a tornado, hurricane, etc that you don't just walk away from the rubble that the bank has to sell at pennies on the dollar.

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Highlight:

The Home-Insurance Coin Flip: Nearly Half of Claims Result in Zero Payout [View all] mahatmakanejeeves 15 hrs ago OP

It is all junk insurance for homeowners now... OhioBack2Blue 14 hrs ago #1

If a customer has a question, that sets off an alarm with those mother-f6ckers wolfie001 13 hrs ago #3

You can't even have them check to see if your roof is okay after a hail storm. moreland01 3 hrs ago #40

Expect more crappy outcomes with the KKKrappy occupant in the WH nt wolfie001 13 hrs ago #2

Umm... that reticence runs throughout the entirety of the insurance racket. OldBaldy1701E 13 hrs ago #4

Yup lonely bird 12 hrs ago #9

Not just necessary for mortgage holders but required. mdbl 6 hrs ago #29

THE BIG FIVE: These are the biggest offenders. New Jersey's Department of Insurance listed companies with 3Hotdogs 12 hrs ago #5

We had State Farm lonely bird 12 hrs ago #8

That's not what Jake from State Farm says. mdbl 6 hrs ago #30

I bet they don't even cover chip board glue now bucolic_frolic 12 hrs ago #6

Another insurance rip-offs are the health insurance clubs that are not insurance. They are not rated by state agencies 3Hotdogs 12 hrs ago #7

Medishare? lonely bird 12 hrs ago #10

Sirius XM. Christian Healthcare Ministries. 3Hotdogs 10 hrs ago #16

Insurance is a scam. it started coming clear to me because of a movie mwmisses4289 12 hrs ago #11

May I suggest? lonely bird 8 hrs ago #25

Wow, never heard of that one. Will look for it. Love Meryl. mdbl 6 hrs ago #32

We know this has been the trend line for health "insurance" for a long time Bluetus 11 hrs ago #12

We've never had a problem Fiendish Thingy 11 hrs ago #13

What year was your last State Farm claim? mdbl 6 hrs ago #33

Oh jeez...I'm not sure Fiendish Thingy 5 hrs ago #36

Peace of mind for the bank only... JT45242 10 hrs ago #14

So you'd think homeowners would have an ally in the bank that owns the home Bengus81 10 hrs ago #18

Link to non-paywall article flvegan 10 hrs ago #15

"I don't understand why people post shit nobody without a subscription (to the WSJ, no less) can read." mahatmakanejeeves 9 hrs ago #19

There's a better way to deal with that than just denying claims mdbl 6 hrs ago #34

State Farm is not like a good neighbor, they suck Historic NY 10 hrs ago #17

Everything is a scam now. Oneironaut 9 hrs ago #20

How well I know... KSL-Washington 9 hrs ago #21

We just dumped USAA (after 70 years with several generations of my family) moreland01 3 hrs ago #41

Too often, when someone files a homeowners claim their policy is not renewed by the insurer dlk 9 hrs ago #22

Kick dalton99a 9 hrs ago #23

I had a water claim a few years back. All the basements on my block flooded because a storm drain behind our Raftergirl 8 hrs ago #24

I have also had a recent experience with Nationwide (luckily) and they have been remarkable FakeNoose 7 hrs ago #28

Great to hear this and good luck with the rebuilding! Can't imagine going through something like that with Raftergirl 6 hrs ago #35

About how many years back was that? pnwmom 2 hrs ago #43

'22 or '23. But I have this specific coverage in my policy. As another poster wrote, it only costs an extra couple Raftergirl 1 hr ago #45

Catastrophic Losses Backstopped By Government 2na fisherman 8 hrs ago #26

Like a good little drone, I've been paying house insurance premiums since 1978, BobTheSubgenius 7 hrs ago #27

The companies pay some people a lot of money Quanto Magnus 6 hrs ago #31

People are not customers any more. hunter 5 hrs ago #37

It pays to spend a little time with an agent to understand what your insurance is covering sarisataka 4 hrs ago #38

That graph is close to tracking the past three Presidential elections Uncle Joe 4 hrs ago #39

The bastids join in on the fleecing of the majority of Americans GreenWave 2 hrs ago #42

Well to be honest i thought it was higher. Figarosmom 1 hr ago #44