rolsen12

Your homeowners insurance will be the primary insurance.
The AMA comes in after, and only if you can prove you followed all their rules.
And you won't be insured unless the accedent HAPPENS ON jAN 1ST
The limit is for all the AMA for that year.

SBOT

Insurance is the biggest scam in the world. You give them , your agent, hard earned money, and what do you get? A piece of paper promising you that they will pay if all of their conditions are met. And you never know how good that promise is until it is to late. Then if they do pay, they cancel you. It is a legalized protection racket.

Muroc1

I hear ya brother!

Some guy tried to sell me "life insurance" the other day. I wasn't buying it because I know it doesn't work. How can some company in CA insure me that I live forever. I told him to get lost.

Frank

combatpigg

My Feedback: (3)

Insurance companies only pay out to protect their future interests, not for moral obligation or sense of duty. If [and when] the SHTF, these companies will be the first ones to fold their tents and take the money and run. If we ever reach a state of hyper-inflation where money is worthless, then the insurance companies will have won this game anyway, by default.

dbcisco

Yes it is. The AMA is supposed to be a non-profit charitible educational institution.

Jim Thomerson

Maybe in the late 1940's, I read an article in Look magazine about the 12 richest men in America. Eight of the 12 had made all or part of their fortune in insurance. So I have understood about insurance since I was a small child. Insurance is something you buy in the hopes you have wasted your money.

dbcisco

I remember asking a life insurance salesman why they didn't call it death insurance.

dbcisco

Insurance is highly calculated gambling. The insurance companies assure that the odds are heavily in their favor.
The AMA's carrier makes over $750K/yr knowing that the odds that one of 120K members will have a valid claim over $250K are slim to none. Even better odds that there will ever be more than six of them in a single year.

mongo

My Feedback: (15)

for that 750 k a year, they, the ins co, does handle the paperwork involved in the self insured claims for the AMA. at least, that is the way it was done last time i looked into it, 18-20 years ago.

dbcisco

$750K to do paperwork on about 50 claims. Too much overhead, raise the premiums!

cj_rumley

Surely in the brief time you have been participating here you have learned to distinguish between "is" and "is supposed to be...."

dbcisco

"is" is doing it right.
"is supposed" is not doing it at all.