Insurance: What the Fr*ck!

[CruiserClass]

Go to an independent broker. They run rates for many companies

Serious question: Does a broker have access to rates I do not running them myself online? I figure like financing, they are making their money somewhere that's ultimately coming from me.

 

[TomDirt]

No liens on the autos including the house. Have no debt, learned to hate debt. Ramsey would be proud,

I believe he has a Gen 1?

 

[Rick at FMS]

I believe he has a Gen 1?

Who is he?

 

[Rick at FMS]

Serious question: Does a broker have access to rates I do not running them myself online? I figure like financing, they are making their money somewhere that's ultimately coming from me.

They get a discounted rate and resell it to you, usually somewhat less than going direct. I tried a broker for the first time and he was higher than any other quote I got myself. He used Travelers for the majority of the coverage but had to use Progressive for my commercial policy on the raptor. Progressive was crazy high.

 

[TomDirt]

Who is he?

Dave Ramsey. Good old boy from Georgia. Current net worth around $25M, because he donates the rest to charity. Runs a faith-based financial advice organization, has helped millions figure out how to not be broke or poor. He was giving a motivational speech awhile back and brought up how he only needs 3 "plastic" cards in his wallet:

His private (not company) debit card,
His driver's license,
His CCW card.

Pretty good advice.

 

[Stormtrooper]

Private insurance is one thing, and has gone up, however for those of you that have commercial auto policies like myself those polices have gone through the roof! I’m paying an average of $520 a month per company Vehicle! I currently have 10 Company Vehicles, $5,250 a Month just for my Commercial Auto!

 

[CruiserClass]

Dave Ramsey. Good old boy from Georgia. Current net worth around $25M, because he donates the rest to charity. Runs a faith-based financial advice organization, has helped millions figure out how to not be broke or poor. He was giving a motivational speech awhile back and brought up how he only needs 3 "plastic" cards in his wallet:

His private (not company) debit card,
His driver's license,
His CCW card.

Pretty good advice.

Dave Ramsey is great for people who don't want to actively manage their finances, are very risk averse, and/or have little financial self-control. This does come at a cost, however. I use a rewards credit card for everything, both for the rewards and for the fraud protection. I would not be able to travel as often or as comfortably without travel cards. Airline status, lounge memberships, baked in travel insurance, miles accumulated, etc. Easily saves me a few thousand bucks a year. I'm debt free other than a mortgage, which is foolish to pay off given the interest rate on the note vs the gains on the same money safely growing elsewhere. I'm too risk averse to leverage debt much beyond that, but everyone's financial tolerance is different and mine is about a 3.5 on a 1/10 scale.

Anywho, back to USAA:

Lawsuit accusing USAA of favoring military officers over enlistees certified as class-action case

The decision by a San Diego federal judge could affect up to 200,000 policyholders

www.sandiegouniontribune.com

 

[Bozz]

Private insurance is one thing, and has gone up, however for those of you that have commercial auto policies like myself those polices have gone through the roof! I’m paying an average of $520 a month per company Vehicle! I currently have 10 Company Vehicles, $5,250 a Month just for my Commercial Auto!

Go down to the Mexico border. Sneak across into Mexico. Spend a day or so there. Sneak back across the border into the U.S. Get your Welcome! package. No hablo! You are now an illegal alien. Insurance? WHAT insurance??? Problemo solved!

 

[smurfslayer]

Dave Ramsey is great for people who don't want to actively manage their finances, are very risk averse, and/or have little financial self-control. This does come at a cost, however. I use a rewards credit card for everything, both for the rewards and for the fraud protection. I would not be able to travel as often or as comfortably without travel cards. Airline status, lounge memberships, baked in travel insurance, miles accumulated, etc. Easily saves me a few thousand bucks a year. I'm debt free other than a mortgage, which is foolish to pay off given the interest rate on the note vs the gains on the same money safely growing elsewhere. I'm too risk averse to leverage debt much beyond that, but everyone's financial tolerance is different and mine is about a 3.5 on a 1/10 scale.

Anywho, back to USAA:

Lawsuit accusing USAA of favoring military officers over enlistees certified as class-action case

The decision by a San Diego federal judge could affect up to 200,000 policyholders

www.sandiegouniontribune.com

Time was they only OFFERED auto insurance to officers. Enlisted policies came later.
It’s a pretty low thing to do though.

 

[3Dog]

Dave Ramsey gets a lot of flack in some circles, and his advice is not great for the well-off top 10%. For the other 90% of adults in the US, they would be better off following his advice about getting out of debt, saving money, live within your means, etc. That's his audience.