Responding to FEMA

Clodfobble · 12-02-2010, 02:14 PM

But the key is, if you're not funneling that premium amount aside into an emergency savings account, when the earthquake comes in the 11th year, you'll still be fucked.

Lamplighter · 12-02-2010, 02:32 PM

Plus, buying insurance (if you can afford it in the first place) is not only going to pay for damage, if it happens,
it is also paying a "service fee" each year for the company to assume the risk.

Often too, the problems of evaluating property insurance vs payments is the companies have
their own way of evaluating amount of the policy vs today's replacement costs (i.e., depreciation vs inflation).
The are details where the devil hides.

smoothmoniker · 12-02-2010, 04:50 PM

Quote:

Originally Posted by Clodfobble

But the key is, if you're not funneling that premium amount aside into an emergency savings account, when the earthquake comes in the 11th year, you'll still be fucked.

There are better forced savings plans than this one. Like having my employer skim the extra 1k per month into a retirement account before I even see it.

xoxoxoBruce · 12-02-2010, 04:55 PM

If you can afford the 1k loss. Now you have to talk your employer into matching it.

12-02-2010, 02:14 PM	#1
Clodfobble UNDER CONDITIONAL MITIGATION Join Date: Mar 2004 Location: Austin, TX Posts: 20,012	But the key is, if you're not funneling that premium amount aside into an emergency savings account, when the earthquake comes in the 11th year, you'll still be fucked. __________________ My book My other book My spirit animal

12-02-2010, 04:55 PM	#4
xoxoxoBruce The future is unwritten Join Date: Oct 2002 Posts: 71,105	If you can afford the 1k loss. Now you have to talk your employer into matching it. __________________ The descent of man ~ Nixon, Friedman, Reagan, Trump.

12-02-2010, 02:32 PM	#2
Lamplighter Person who doesn't update the user title Join Date: Jun 2010 Location: Bottom lands of the Missoula floods Posts: 6,402	Plus, buying insurance (if you can afford it in the first place) is not only going to pay for damage, if it happens, it is also paying a "service fee" each year for the company to assume the risk. Often too, the problems of evaluating property insurance vs payments is the companies have their own way of evaluating amount of the policy vs today's replacement costs (i.e., depreciation vs inflation). The are details where the devil hides.

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