AgTalk Home
AgTalk Home
Search Forums | Classifieds (82) | Skins | Language
You are logged in as a guest. ( logon | register )

My ignorance about insurance
View previous thread :: View next thread
   Forums List -> AgTalk CafeMessage format
 
junk fun
Posted 2/19/2025 16:19 (#11112951 - in reply to #11112287)
Subject: RE: My ignorance about insurance


Wisconsin
Chris - 2/19/2025 10:07

junk fun - 2/19/2025 09:48 The John Deere thread where you could buy a B for $700 new, and overhaul the engine for $30. Now you might buy a comparable tractor for $70,000, but the engine overhaul is going to be a lot more than $3,000. Same with shingles, flooring, siding, or any other part of a house. People are hypochondriacs and sue happy also.

If my building is insured for $20,000 every year why should it cost more to insure it the next year.  $20,000 is $20,000, they will not lose a penny more.

You're not comparing apples to apples, more like passion fruit to kumquats.



Nope, you value the building at $20,000 because that's what it cost to build in '75 and it's depreciated more than it's appreciated in your opinion. The roof blowing off is going to cost a lot more than it did in '75. The building collapsing and killing a visitor will payout a lot more to the grieving orphans and widow than it would have in '75. The repair cost of tractors, or the repair costs of buildings, or the liability exposure are all valid comparisons. Or you don't have to believe me, not my problem.

In Allsand's example #2, a big part of their risk probability is YOU, your credit rating among other factors influences your rates.

Edited by junk fun 2/19/2025 16:22
Top of the page Bottom of the page


Jump to forum :
Search this forum
Printer friendly version
E-mail a link to this thread

(Delete cookies)