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TURNING IN TOO MANY CLAIMS?
By Chuck Wells
I know, you have
been paying on
insurance for years and years without collecting a dime and
think you are entitled to get some of that money back
once-in-awhile by turning in a claim. So what’s the big deal?
First of all, an insurance company may non-renew you if they see
that you turn in too many claims in too short a period of time
so you need to be careful.
The idea of insurance is for all of us to pool our money
together so when one of us takes a big hit, we can get some
money to put us back on our feet. It is not to get all of our
money back like a savings account. If one person is turning in
too many claims, that money comes from the rest of us.
If you have more than 2 claims on an auto or home insurance
policy within a 3 year period of time, your insurance company
will take a close look at you to determine whether or not they
will continue your policy. If your policy cancels because of
claims, you can bet that the next company that picks you up is
going to charge you a much higher premium because they think you
are bad news.
How can you avoid potential problems? Don’t turn in small
claims. Have deductibles of at least $500 so you save some money
while not turning in those small claims. You should discuss all
claims with your agent. If you have a car accident with another
vehicle, you must turn in the claim. If you back into your own
garage, this may be one claim you do not turn in.
Insurance is for the big claims. If you try and milk it for
small ones, you will wind up paying much more in premiums when
you are canceled than if you just paid the small ones yourself.
Not fair? The alternative is for all of us to pay much higher
premiums to pay those small claims. I don’t think so.
NEW COLLEGE COURSES PARENTS CAN PAY FOR
A college in Hawaii will be offering the following courses for
the more
serious students:
- Creative Embalming
- Income Tax Evasion for the
Non
- Major
- Life After Death (one field
trip required)
- Advance Trigonometry and Its
Application to Particle, Physics, Space Exploration, and
Parking Space Procurement at Wal-Mart
- The Psychology of Sexual
Addiction (textbook: “It Takes a Village”)
DON’T HIT THIS WOMAN
Tamika Ross is being charged with the murder of Nathaniel Davis.
It seems that Ross ran over Davis’ hat. Davis then confronted
Ross and after a heated argument, hit Ross. Ross then got in her
car and ran over Davis, killing him. Her statement to police:
“He hit me so I ran him down.” Pretty simple.
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