Insurance companies are such thieves

I don't think we have to worry about socialized medicine for a while. Insurance companies are such thieves, they will find a way around whatever the government does.

I say this because we paid our house off and it was time to take a look at our insurance policies. As the agent explained to me you can not insure your house for the market value of the house. You have to insure it for at least 80% of the replacement cost. That cost is figured by what a contractor would charge to produce the same size house but using modern building materials. Even if you try to explain that you would simply walk down the street and buy a house like your for half the replacement cost, you still can't insure your house for that amount of money.

So you ask the agent what happens if my house burns. Answer... We will pay to have the house rebuilt up to the amount of your policy less the deductible. So my house that has a market value of 75k has to be insured for 105k. Now what if I have a total loss? but I don't want to rebuild here. Then you can rebuild somewhere else and we will still pay the contractor up to the amount of your policy.

But I don't want to rebuild at all... I want to buy something already to move into. Answer: Then we will work with you. What does that mean? It means we will work out a deal of some kind.

At this point I backed against the wall. I had a feeling I was in for an unpleasant experience.

So what if I just want to bank the money and live in a retirement community. Answer well in that case we would have to value your house based on a depreciation factor. The house is 80 years old At 2% per year depreciation the house I would have to pay you 60k to settle up.

For this I have paid insurance for 20 years. I have to decide how if feel about paying it any more. I am not required to have insurance now, so I'm going to be looking into it really hard. I expect to find that all insurance companies are thieves.

Oh by the way the agent said we wouldn't carry your insurance unless you insure it for the 105k We wouldn't want you left in a bad place. I said bull shit you want max premiums with minimum risk. He tried to tell me that wasn't the case. I laughed my ass off. I probably am going to have to find a new insurance company. I'm sure that I am now on some kind of watch list. I mean how dare I point out the obvious. Insurance companies are thieves.