Why You Should Always use a Surveyor when buying a boat! The New Alaskan Sea-Duction

CPseudonym · Sep 12, 2013

Friend of mine just out of high school was running a very successful illegal sports book in the South Bay Area. Came very close to being busted and it scared him straight. Got into the insurance business and is now a very successful under writer.

The two activities are remarkably similar.

FlyWright · Sep 12, 2013

I think I bought insurance from him. Is his name Vinny?

psneeld · Sep 12, 2013

Moonstruck said:
One of the reasons for increasing premiums is the crappy returns today on invested money. When investment income was good, insurance companies could make it by breaking even on claims and overhead. That is not the case today. Their investments are suffering just as yours. In today's litigious society running naked is not a good option. Someone has to cover that. How would you like to have about $300,000.00 riding on your teenager next door bumper. There's a lot of risk out there both financial and otherwise.

That's my whole point....it cheaper to insure huge numbers of people at the same cost...than a select few.

USAA did it for years and other agencies to from what I gather...they only insured a select group and did very well....I'm guessing because it was a group of people that were either lower risk or more predictable/insurable.

Just like training/experience..there are other traits that make people more insurable than others...but gathering that data takes effort so low risk people suffer the consequences.

Why You Should Always use a Surveyor when buying a boat! The New Alaskan Sea-Duction

CPseudonym

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psneeld

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