Comments on: Citizens Insurance To Work Harder To Move Policies To Private Companies http://www.northescambia.com/2012/11/citizens-insurance-to-work-harder-to-move-policies-to-private-companies Local News for Molino, Bratt, McDavid, Century, Walnut Hill, Cantonment Wed, 22 Apr 2026 06:07:05 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: David Huie Green http://www.northescambia.com/2012/11/citizens-insurance-to-work-harder-to-move-policies-to-private-companies/comment-page-1#comment-158895 David Huie Green Fri, 30 Nov 2012 23:30:08 +0000 http://www.northescambia.com/?p=120075#comment-158895 All insurance is a gamble. You are betting you will need it, the company is betting you won't need it. Or at least as much money as they receive as a whole. Actuarilly speaking, they know some of those they insure will need money and about how much they will have to pay them. They set their rates high enough to pay the expected payments but low enough to attract you to them rather than some other insurance company. You know you MIGHT not need an insurance payout yourself but you figure it is safer to pay a small amount in the chance you need to pay out a large amount so they will cover that amount. The problem with Citizens is that they are charging less than they expect to have to pay out and that is because the state set them up that way. The more they can shed, the less we, the citizens of the state, will have to bankroll them. David for safe bets All insurance is a gamble. You are betting you will need it, the company is betting you won’t need it. Or at least as much money as they receive as a whole.

Actuarilly speaking, they know some of those they insure will need money and about how much they will have to pay them. They set their rates high enough to pay the expected payments but low enough to attract you to them rather than some other insurance company.

You know you MIGHT not need an insurance payout yourself but you figure it is safer to pay a small amount in the chance you need to pay out a large amount so they will cover that amount.

The problem with Citizens is that they are charging less than they expect to have to pay out and that is because the state set them up that way. The more they can shed, the less we, the citizens of the state, will have to bankroll them.

David for safe bets

]]> By: charlie w. http://www.northescambia.com/2012/11/citizens-insurance-to-work-harder-to-move-policies-to-private-companies/comment-page-1#comment-158829 charlie w. Fri, 30 Nov 2012 15:50:45 +0000 http://www.northescambia.com/?p=120075#comment-158829 Keep in mind, insurance co. are there to COLLECT money, not to PAY out money. Insurance co. are second only to the goverment at being crooked!! Keep in mind, insurance co. are there to COLLECT money, not to PAY out money. Insurance co. are second only to the goverment at being crooked!!

]]> By: shiloh http://www.northescambia.com/2012/11/citizens-insurance-to-work-harder-to-move-policies-to-private-companies/comment-page-1#comment-158779 shiloh Fri, 30 Nov 2012 11:51:50 +0000 http://www.northescambia.com/?p=120075#comment-158779 Make the citizens premiums higher than private polices cost. Having to fund these peoples insurance is just another form of WELFARE Let them pay their way or move. All my insurance polices are assesed to support citizens ins. Whether its homeowners are auto insurance, its charged a fee ffor citizens. Its a load of bull!! Make the citizens premiums higher than private polices cost. Having to fund these peoples insurance is just another form of WELFARE Let them pay their way or move. All my insurance polices are assesed to support citizens ins. Whether its homeowners are auto insurance, its charged a fee ffor citizens. Its a load of bull!!

]]> By: Jane http://www.northescambia.com/2012/11/citizens-insurance-to-work-harder-to-move-policies-to-private-companies/comment-page-1#comment-158778 Jane Fri, 30 Nov 2012 11:43:50 +0000 http://www.northescambia.com/?p=120075#comment-158778 Are these policies issued by Citizens being issued to homes/businesses that are on the Coast (or close to the coast)? If they are that is why they can't get insurance. Many large insurance companies just doubled their rates this year, so some retired people have no insurance now because they can't afford the increase...and they live inland and have never had any hurricane damage. Changes need to be made in the way insurance companies do business. Are these policies issued by Citizens being issued to homes/businesses that are on the Coast (or close to the coast)? If they are that is why they can’t get insurance. Many large insurance companies just doubled their rates this year, so some retired people have no insurance now because they can’t afford the increase…and they live inland and have never had any hurricane damage. Changes need to be made in the way insurance companies do business.

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