martin armstrong speaks about insurance;

I think this was inevitable, as insurance companies are the #1 consumer fraud rip-off of Americans every day of their existence, and they grease the palms of politicians to be exempt from consumer fraud. I have NEVER had any insurance company EVER honor what they pretend. I was self-insured here for the storm. A guy a couple of doors from me was paying $40,000 yearly for insurance, and they denied all his claims. He will no longer buy insurance. One of my staff had her car parked, and a drunk guy slammed into it, totaling the parked car. Her insurance company said he had to be paid by the other one, over a year and no payment.

My mother’s house had a pipe freeze. They sent investigators asking neighbors if she was there because she went to stay at my sister’s. They have a clause that if you are not there, they will not pay. That cost me $50,000 to fix her home. In a storm, the top of the tree broke and lunged into a brand new Porsche, maybe 2 weeks old. I sent it to the Porsche dealer, who sent it to Bordentown Autobody, which burned down with my car inside. Allstate said it was two deductibles.

They charge your car insurance on the value you pay for brand new. Put in a claim, and it is suddenly depreciated, yet they continue to charge you on the original price. They NEVER reduce your car insurance in proportion to the depreciation. That is consumer fraud, and our politicians do NOTHING!.......more........