Thread: Home Insurance

Thanks Roy - So true about the weather considering the ingrediants. Take 1 equator and add to that generous amount of molten lava, soil, and sea water then shake and stir - and No Disrespect intended towards our friends, family, &nieghbors to the West.

Roy, the agent did not discuss this with us. We are used to the ALLRISK insurances in Aussie, You can make a choice, you pay less premium if you pay a certain amount first yourself. We never did this, we paid the full premium and therefore it was ALL RISK. We had once a lightning strike and our Bore, PC,Fax were totally burned out. There was a damage of more thanA$2000.00. The inspector came and signed the papers and we were paid in full. That,s why this came as a blow, the total damage is IDR.64000.00. Lucky for us the developer shares half the cost

Sorry to dwell too much on this Jorgy, but all risk, in insurance jargon, means coverage for just about anything that can happen that’s a bad thing. Typically excluded would be acts of war...a universally applied exclusion.

Deductibles have nothing to do with the extent of coverage, meaning, the risks the policy covers. Deductibles, in fact, are really nothing more than a partial means to co-insure the risks, and their use is wise, as it brings down the cost of the premium. A deductible is virtually your own insured portion of the risk.

The greatest costs to insurance companies are not the claims themselves, but rather the expenses associated with settling claims.

I view insurance as catastrophic coverage. In other words, I ask myself, “what can I afford to loose if the shit really hits the fan?” That, which I cannot afford, is what I want insurance to cover.

Thanks again Roy, you have been most helpful