Home insurance in Detroit.

[sumas]

"The state wants 300 plus for "driver responsibiliy" fees."
Just WTF, [[pardon my French) is THAT all about and what is it for?

"Seems for Detroit homeowners, we can borrow up to 25K with no interest as reported on channel 7."
I don't think your neighbor has the story quite right. When I heard it on WDET yesterday, it was CERTAIN homeowners, and UP TO $25K. I'm not quite sure what the stipulations are. Here it is from the horse's mouth:

http://www.detroithomeloans.org/

I haven't open that thread yet but will for a close friend today. Pretty much what I saw on the news said homeowner for 6 months or more and active homeowner insurance. Our friend was involved in a long drawn out estate issue. Apparently now resolved. Fortunately he isn't on this forum and the house is the pits. I really mean, as in disgustingly the pits, looks ok from the outside but I can't even go there. Allergies flare terrible. He has his attorney acting as fudiciary and wants desparately to clean things up. It's nice he wants to fix things, so help if I can but only from afar. Personally, I'd bag the house, fumigate it, get rid of absolutely everything.

[sumas]

Based on pure bullshit. Unfortunately car [[and now health) insurance is mandatory.

Every year about this time we do a budget. The insurance portion is unbelievable. Affordable health???? Cheaper to die.

Note to me: prepay funeral expenses. Nothing special, cremation, scatter ashes.

[Hermod]

Just what is that based on?

Obviously it is based on insurance company actuarial research. If the correlations weren't significant, they wouldn't use it. Why do good drivers under the age of 26 pay higher rates? Based on the same type of research. Why are comprehensive auto rates so high in El Paso, TX? Same thing, there is a high rate of auto theft there. Why do you pay more for insurance on a Corvette or Mustang? Corvette and Mustang drivers tend to have more costly claims.

[Llama]

I really wish DPD would plant some bait cars, around Corktown just for starters. Complete with recorded surveillance, please! What if it were possible to make conviction for car theft near-100% certain? Might our rates [[supposedly high due to theft/damage rates and to that unlimited health care factor) finally go down then? Might that be half the battle, at least?

[Gpwrangler]

I really wish DPD would plant some bait cars, around Corktown just for starters. Complete with recorded surveillance, please! What if it were possible to make conviction for car theft near-100% certain? Might our rates [[supposedly high due to theft/damage rates and to that unlimited health care factor) finally go down then? Might that be half the battle, at least?

Collision and comprehensive claims would add up to more than theft. They want $750 to fix a door dent in my sedan. Used to be able to get repairs done for a couple hundred or less.

You can thank insurance for driving up the cost of repairs just like it has health care. If we paid out of pocket costs would be a lot less. Makes my blood boil.

[Funaho]

I really wish DPD would plant some bait cars, around Corktown just for starters. Complete with recorded surveillance, please! What if it were possible to make conviction for car theft near-100% certain? Might our rates [[supposedly high due to theft/damage rates and to that unlimited health care factor) finally go down then? Might that be half the battle, at least?

Video only helps if someone's willing to ID the culprits, which in many cases they aren't.

[Funaho]

Obviously it is based on insurance company actuarial research. If the correlations weren't significant, they wouldn't use it. Why do good drivers under the age of 26 pay higher rates? Based on the same type of research. Why are comprehensive auto rates so high in El Paso, TX? Same thing, there is a high rate of auto theft there. Why do you pay more for insurance on a Corvette or Mustang? Corvette and Mustang drivers tend to have more costly claims.

I wouldn't mind the credit score check if they actually let people challenge it. A low credit score may actually be the result of something out of your control, like medical bills from a catastrophic illness. There's a difference between someone with chronic credit problems and someone just going through a temporary hardship.

[factoryrat]

Thousands of people who lost their jobs,and had to struggle to put food on the table during the last recession, may have gotten behind on some of their bills. Did they all suddenly become a higher risk?
If they raise your premium for bad credit, what happens when you get in a wreck? Raise your premiums some more of course. Sounds like double jeopardy.

[David L]

You didn't just happen to buy a house in EEV did you? Say for the 69,000$ ?

No but I know the property and it is a very good investment. Now is the time to buy in Detroit's best neighborhoods.

[sumas]

I really wish DPD would plant some bait cars, around Corktown just for starters. Complete with recorded surveillance, please! What if it were possible to make conviction for car theft near-100% certain? Might our rates [[supposedly high due to theft/damage rates and to that unlimited health care factor) finally go down then? Might that be half the battle, at least?

Actually/realistically if police in Detroit responded to car theft calls [[they don't) like they did many many many moons ago more thieves would be thwarted. The thieves know this. Car gets stolen and the carless person has to get to the station, go through metal detectors, show id, made to feel like they are the criminals? The car is long gone by then.

A girlfriend in Creekside watched her car being stolen and police refused to respond though it was a theft in progress.

Thieves, dealers, have police scanners too. Fortunately I have only called the police on very few occaisions. I am a reasonably tolerant person, did call the police once when at 3 AM very vulgar rap music was blaring, I really mean blaring. Made a call, the music stopped short and people fled the party. Police came, everyone gone. Felt a little stupid. More secure channels for police might go along way to reduce crime.

[sumas]

Collision and comprehensive claims would add up to more than theft. They want $750 to fix a door dent in my sedan. Used to be able to get repairs done for a couple hundred or less.

You can thank insurance for driving up the cost of repairs just like it has health care. If we paid out of pocket costs would be a lot less. Makes my blood boil.

Boy do you have that right. I took a consumer law course once when mandatory car insurance was being discussed. I was assigned the anti [[mandatory) insurance dialogue. Wish I had that paper still, I was spot on. Had a lock popped once in GPP, car rifled not stolen. Dealer wanted $350 to replace lock,that was 10 years ago. Said forget it. Deductable $1000. Haven't made a claim in forty years on a car and 25 for a minor home insurance claim. Wish I had that money back for insurance payments.

Detroit has some advantages, like lots of skilled people, out of work. Had a lock popped once again on my car, a retired fireman fixed, for $80 and keyed to the rest of the keys for the car. A drunk hit my car and several others, two summers ago, a laid off bump repair man did an amazing job for $20. My list is pretty good, an electrician, a plumber, a carpenter, wall washers, painters, tree trimmers, light landscapers, snow shovelers, auto repair, home nursing help, seamstresses and even caterers.

[sumas]

Sorry, I sounded a bit pompous. We give back to community too. We have a fixed income and are diasabled to varied degrees. If I kicked out all needed for insurances it would be more than half our income. If I sound pissed, I am, the only script my husband truly needs to live, isn't covered. Try $650 a month. I kind of like to eat and to fuel bogus insurances ????

Far cry from the thread, homeowner insurance. But frankly insurance, all of it, sucks.

[Hermod]

Auto liability/property damage insurance is mandatory. Comprehensive and collision is optional [[unless you have a loan or are leasing the car). You can go bare or have a high deductible and save money.

Homeowner insurance is optional unless you have a mortgage. You can go bare or have a high deductible to save money.

Health "insurance" is a special case. For the young and healthy, it is insurance against an accident or sudden expensive illness. For the old, unhealthy, or both old and unhealthy, it isn't insurance, just someone to pay the bills so that you don't have to. It is health care and not health insurance. The philosophical question then becomes is it the duty of the government/community to provide healthcare?

Being on Medicare now, my views have changed. I used to be against socialized medicine [[having seen how military medical care was run and the VA still is). I guess I would support Medicare for all to take care of catastrophic illness. I would support using a Value Added Tax [[VAT) to pay for it like most other national systems use. That way, everyone could see the cost and political decisions could be made on the basis of:

Basic Medicare Part A = a% VAT
Government paid Part B = a+b% VAT
Government coverage of Medicare copay and deductible = a+b+c% VAT
Government coverage of prescription drugs = a+b+c+d% VAT
Government coverage of dental = a+b+c+d+e% VAT

Everything is fee for service with no "managed care". We do not need HMOs or 1993 Hillarycare.

[Gpwrangler]

Auto liability/property damage insurance is mandatory. Comprehensive and collision is optional [[unless you have a loan or are leasing the car). You can go bare or have a high deductible and save money.

Homeowner insurance is optional unless you have a mortgage. You can go bare or have a high deductible to save money.

Health "insurance" is a special case. For the young and healthy, it is insurance against an accident or sudden expensive illness. For the old, unhealthy, or both old and unhealthy, it isn't insurance, just someone to pay the bills so that you don't have to. It is health care and not health insurance. The philosophical question then becomes is it the duty of the government/community to provide healthcare?

Being on Medicare now, my views have changed. I used to be against socialized medicine [[having seen how military medical care was run and the VA still is). I guess I would support Medicare for all to take care of catastrophic illness. I would support using a Value Added Tax [[VAT) to pay for it like most other national systems use. That way, everyone could see the cost and political decisions could be made on the basis of:

Basic Medicare Part A = a% VAT
Government paid Part B = a+b% VAT
Government coverage of Medicare copay and deductible = a+b+c% VAT
Government coverage of prescription drugs = a+b+c+d% VAT
Government coverage of dental = a+b+c+d+e% VAT

Everything is fee for service with no "managed care". We do not need HMOs or 1993 Hillarycare.

Auto insurance is a rip off. It's mandatory but you have to buy additional coverage against someone without insurance. How stupid do they think I am? Should be optional and should cover the insured whether or not the other guy has it. Yours should cover you and mine should cover me.

Total bullshit

[Jimaz]

I forget where this story came up recently but I remembered the term "price optimization" so I Googled that and found: Auto insurers may be guilty of price optimization, regulators say

A New York regulator has raised concerns that car and property insurers may be engaging in illegal pricing practices and overcharging consumers who they deem less likely to consult multiple sources and compare rates....

The original story said that insurers don't like customers to know about this practice because of its controversial ethics. It's basically about charging different customers different rates for the same insurance.

Here's another story from last month: Insurance commissioner bans ‘price optimization’ in California.