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Re: Contractor not licensed but insured

Thought I'd post a reply to get your question moved up on the forum. Here is a website that discusses some of the issues with unlicensed contractors: http://www.angieslist.com/articles/what-are-risks-hiring-unlicensed-contractor.htm I have no personal experience with this. Maybe someone with first h...
by Quasimodo
Fri Apr 11, 2014 4:22 pm
 
Forum: Personal Consumer Issues
Topic: Contractor not licensed but insured
Replies: 15
Views: 829

Re: Property and Causalty Insurance

One possible approach would be to contact Progressive Insurance and GEICO and ask for quotes. (These companies deal directly with their customers) You might also contact an independent agent who represents multiple companies such as Travelers, Aetna, Hartford, Fireman’s Fund, Chubb and others, and a...
by Quasimodo
Wed Apr 09, 2014 4:32 pm
 
Forum: Personal Consumer Issues
Topic: Property and Causalty Insurance
Replies: 4
Views: 322

Re: Reviewing my insurance now that I have money

An umbrella liability premium just isn’t that significant (ours is $105 a year for a$1M limit), and along with the insurance limits you get a team of insurance attorneys seriously interested in defending you against a lawsuit for a fraction of the cost you would have to pay to hire lawyers yourself....
by Quasimodo
Tue Apr 08, 2014 3:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Reviewing my insurance now that I have money
Replies: 6
Views: 673

Re: Umbrella Policy, do you have hands on experience

Thanks for your kindness, Kenner. I appreciate your thoughtful comments as well.

John
by Quasimodo
Mon Apr 07, 2014 11:03 am
 
Forum: Personal Finance (Not Investing)
Topic: Umbrella Policy, do you have hands on experience
Replies: 15
Views: 1581

Re: Umbrella Policy, do you have hands on experience

I guess there could be some other legal decision that addresses libel, slander and false arrest and nullifies the policy language. I would wonder what the reasoning was for a state to invalidate insurance coverage for those things . John Please post the insurance policy language you refer to. I wou...
by Quasimodo
Mon Apr 07, 2014 12:16 am
 
Forum: Personal Finance (Not Investing)
Topic: Umbrella Policy, do you have hands on experience
Replies: 15
Views: 1581

Re: Investing in foreign government bonds - theory and pract

I'm not qualified to answer your questions, but in case you haven't already seen it here is a link to a Vanguard discussion of the hedging strategy for their International Bond fund: https://personal.vanguard.com/us/insights/audio/IC-IntlBond-03192013 Part of my retirement savings is invested in Van...
by Quasimodo
Sun Apr 06, 2014 3:53 pm
 
Forum: Investing - Theory, News & General
Topic: Investing in foreign government bonds - theory and practice
Replies: 19
Views: 1133

Re: Umbrella Policy, do you have hands on experience

Umbrellas are basically an extension of your homeowners and auto policies liability protection. They usually cover the same things and do not cover other things. Not quite correct. Umbrella policies typically cover thing like libel, slander, and false arrest, which are normally not covered by homeo...
by Quasimodo
Sun Apr 06, 2014 1:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Umbrella Policy, do you have hands on experience
Replies: 15
Views: 1581

Re: Umbrella Policy, do you have hands on experience

Thankfully I have no experience with a personal umbrella claim filed against me, but it’s easy to google search for links to actual claim examples: http://www.rlipersonalumbrella.com/scenarios.asp http://www.galleninsurance.com/wp-content/uploads/2011/08/10-Actual-Claims-On-a-Personal-Umbrella-Polic...
by Quasimodo
Sat Apr 05, 2014 1:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Umbrella Policy, do you have hands on experience
Replies: 15
Views: 1581

Re: Auto Accident Advice

When I asked GEICO, they said they wanted to be notified in the case of an accident. The policy says in part: "...the contract states that as soon as you can after an accident, we must be notified.   ...we want to be notified so that we can cover your incident in the event that the other party ...
by Quasimodo
Fri Apr 04, 2014 9:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Auto Accident Advice
Replies: 31
Views: 1703

Re: Automobile Medical Payments

I’m not knowledgable about Obamacare because my wife and I have Medicare and a supplemental health insurance policy. Those coverages don’t always pay 100% of medical bills because there are dollar limits for some procedures and treatments, and the health care could cost more than our insurance will ...
by Quasimodo
Thu Apr 03, 2014 1:37 am
 
Forum: Personal Finance (Not Investing)
Topic: Automobile Medical Payments
Replies: 21
Views: 1146

Re: Consequences of a failed HO insurance company...

Here’s a website that discusses “Guaranty Associations” for property and casualty insurers: http://www.figafacts.com/faq Excerpt: “Guaranty associations are active in every state, the District of Columbia, Puerto Rico and the Virgin Islands. State laws require that licensed property and casualty ins...
by Quasimodo
Tue Apr 01, 2014 9:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Consequences of a failed HO insurance company...
Replies: 12
Views: 936

Re: [Poll] Which of These Types of Investments do you Own?

Total World Stock fund
Total International Bond fund
Gold mining Stock index
Physical gold stored in Canada

I checked the poll choice "Total International Fund", as there didn't appear to be a choice for the Total World Stock fund.

John
by Quasimodo
Sat Mar 29, 2014 12:33 pm
 
Forum: Investing - Theory, News & General
Topic: [Poll] Which of These Types of Investments do you Own?
Replies: 24
Views: 2202

Re: Does This Person Need Umbrella Ins Coverage?

Can one purchase umbrella insurance from a different provider than their other insurers? I currently have home and auto insurance with seperate companies. Here's one website that discusses umbrella insurers that will write coverage over a different auto and homeowners insurer: http://www.irmi.com/e...
by Quasimodo
Mon Mar 24, 2014 1:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Does This Person Need Umbrella Ins Coverage?
Replies: 64
Views: 4401

Re: Does This Person Need Umbrella Ins Coverage?

Hi Ken;

I guess I better watch what I put in those letters to the editor.

“If you haven't got anything nice to say about anybody come sit next to me.” - Alice Roosevelt Longworth

Thanks for the research.

John
by Quasimodo
Sun Mar 23, 2014 10:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Does This Person Need Umbrella Ins Coverage?
Replies: 64
Views: 4401

Re: Does This Person Need Umbrella Ins Coverage?

Hi Kenner. I live in Colorado. Is that what you meant?

John
by Quasimodo
Sun Mar 23, 2014 2:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Does This Person Need Umbrella Ins Coverage?
Replies: 64
Views: 4401

Re: Does This Person Need Umbrella Ins Coverage?

Out of curiosity I looked over our GEICO umbrella liability policy. The policy covers “personal injury”, and defines that as including, among other things, “libel, slander, defamation, humiliation...”. While the policy excludes “acts committed by or at an insured’s direction with intent to cause per...
by Quasimodo
Sun Mar 23, 2014 1:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Does This Person Need Umbrella Ins Coverage?
Replies: 64
Views: 4401

Re: One Ins. Co uses "Mkt Value" other uses "Cost to Rebuild

Hi 1210; You are right that a total loss would be subject to the coverage limits. If you insure 80% of the replacement cost, and it’s a total loss, you only get 80% of the replacement cost. (Assuming a replacement cost basis) As a former insurance underwriter, I can relate to cynicism about the moti...
by Quasimodo
Sat Mar 22, 2014 12:43 pm
 
Forum: Personal Consumer Issues
Topic: One Ins. Co uses "Mkt Value" other uses "Cost to Rebuild" ??
Replies: 8
Views: 576

Re: How important are Int'l Bonds?

I thought the previous posters offered a sensible discussion of pros and cons of international bonds. My personal view, as a nervous older investor: An objective reason to consider investing in international bonds is that they represent the largest asset class - larger than US bonds, US stocks or in...
by Quasimodo
Sat Mar 22, 2014 12:03 pm
 
Forum: Investing - Theory, News & General
Topic: How important are Int'l Bonds?
Replies: 44
Views: 3785

Re: Automobile Medical Payments

Here's one article that advocates buying auto medical payments coverage http://www.bankrate.com/finance/insurance/why-you-need-medpay-in-car-insurance-1.aspx Some of the reasons given in the article are that auto med pay covers expenses your health insurance won’t pay for, such as ambulance fees, ch...
by Quasimodo
Sat Mar 22, 2014 11:37 am
 
Forum: Personal Finance (Not Investing)
Topic: Automobile Medical Payments
Replies: 21
Views: 1146

Re: One Ins. Co uses "Mkt Value" other uses "Cost to Rebuild

Hi 1210; With an 80% coinsurance clause, the insurer expects you to buy an amount of insurance equal to 80% of the insurable value, which may be replacement cost or replacement cost less depreciation (actual cash value). If you meet this requirement, they will pay 100% of any covered loss, partial o...
by Quasimodo
Fri Mar 21, 2014 8:47 pm
 
Forum: Personal Consumer Issues
Topic: One Ins. Co uses "Mkt Value" other uses "Cost to Rebuild" ??
Replies: 8
Views: 576

Re: One Ins. Co uses "Mkt Value" other uses "Cost to Rebuild

In your first paragraph you said the agents were using “purchase price/market price” as a basis for their quote. In your last paragraph you said the agents were offering replacement cost coverage. These are different methods of determining the amount of insurance. You said the “in house guy” quoted ...
by Quasimodo
Fri Mar 21, 2014 7:19 pm
 
Forum: Personal Consumer Issues
Topic: One Ins. Co uses "Mkt Value" other uses "Cost to Rebuild" ??
Replies: 8
Views: 576

Re: One Ins. Co uses "Mkt Value" other uses "Cost to Rebuild

I would start by asking yourself why you are buying the insurance. Do you want to be able to rebuild the house if it burns down? Is a bank loan involved, where you need to satisfy the bank's insurance valuation requirement? If so, that would indicate you want to use replacement cost as a basis for i...
by Quasimodo
Fri Mar 21, 2014 2:06 pm
 
Forum: Personal Consumer Issues
Topic: One Ins. Co uses "Mkt Value" other uses "Cost to Rebuild" ??
Replies: 8
Views: 576

Re: Purchasing car + home + umbrella from different companie

Agree with previous comments advocating policies with the same company, but here's a website that offers some advice if you decide to buy an umbrella from a different insurer: http://www.irmi.com/expert/articles/2011/hungelmann04-personal-risk-management.aspx Scroll down for a link to a "stand-...
by Quasimodo
Tue Mar 18, 2014 11:19 am
 
Forum: Personal Finance (Not Investing)
Topic: Purchasing car + home + umbrella from different companies.
Replies: 8
Views: 681

Re: question about gold/silver storage

Here's a link to one discussion about storing physical gold:

http://gyroscopicinvesting.com/forum/go ... gold-5089/

The website probably has other discussions on the subject if you search.

John
by Quasimodo
Mon Mar 17, 2014 3:05 pm
 
Forum: Personal Consumer Issues
Topic: question about gold/silver storage
Replies: 26
Views: 1424

Re: Good to use a insurance broker?

Here are some random thoughts about buying homeowner’s and auto insurance. “Best deal” doesn’t always mean lowest price. There are things that are difficult to know in advance about an insurer, such as policy fine print and claims handling practices. I would say “best deal” means decent coverage and...
by Quasimodo
Sat Mar 15, 2014 6:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Good to use a insurance broker?
Replies: 10
Views: 656

Re: Good to use a insurance broker?

Some articles advocating using a broker to buy insurance; http://www.riskheads.org/top-5-reasons-consumers-should-use-insurance-broker/ https://www.moneyadviceservice.org.uk/en/articles/when-to-use-an-insurance-broker Basically, the broker works for their client (you), not the insurance companies. J...
by Quasimodo
Sat Mar 15, 2014 12:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Good to use a insurance broker?
Replies: 10
Views: 656

Re: Do billionaires need umbrella insurance?

http://www.soswitch.com/blog/whats-it-like-to-lead-a-billionaires-life-2041/ Maybe self-insurance is a big part of a billionaire’s money management. I have no idea. With Mr. Abramovich having 2 bomb-proof limos, 40 security staff, a 4 billion pound lawsuit and a 200 million pound divorce settlement,...
by Quasimodo
Sat Mar 08, 2014 1:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do billionaires need umbrella insurance?
Replies: 16
Views: 1839

Re: Dwelling Coverage

Here's one article that discusses the difference between replacement cost and market value: http://www.insurance4usa.com/replacement-cost-market-value.cfm excerpt: “There are different methods to determine the value of a house. Market value is the price paid for your house. Replacement cost is the p...
by Quasimodo
Fri Mar 07, 2014 3:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Dwelling Coverage
Replies: 4
Views: 240

Re: Umbrella Insurance Noob

Here's a link to another recent discussion on how much umbrella coverage is needed:

viewtopic.php?f=2&t=131550

John
by Quasimodo
Wed Mar 05, 2014 8:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Umbrella Insurance Noob
Replies: 16
Views: 1216

Re: Umbrella Insurance Noob

You got a quote using a broker. Why not ask the broker what they think of the quote and whether you should seek quotes from other umbrella companies? Generally it’s desirable to have your auto, homeowners and umbrella all with the same insurer in order to avoid controversy at the time of a loss when...
by Quasimodo
Tue Mar 04, 2014 5:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Umbrella Insurance Noob
Replies: 16
Views: 1216

Re: USAA insurance vs Geico

Previous posts offered wise advice. Trusting your insurer to treat you fairly is a major consideration. Not to say that's an easy place to reach, but low price alone is not a good reason to switch, in my opinion. We have GEICO as our insurer, but if you trust USAA, I would be inclined to stay with t...
by Quasimodo
Tue Mar 04, 2014 1:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: USAA insurance vs Geico
Replies: 9
Views: 896

Re: Need advice: Lost lot of money in trading.

Great comments previously for sadinvestor.

Here's an interesting article to consider:

http://www.investopedia.com/articles/in ... iction.asp

John
by Quasimodo
Mon Mar 03, 2014 3:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: Need advice: Lost lot of money in trading.
Replies: 65
Views: 5876

Re: [POLL] What do Bogleheads DRINK?

I didn't check boxes in the poll because I'm far from being one of the "Millionaires Next Door", but I'll comment on coffee. I've read that coffee in moderation is good for you. When I quit drinking alcohol my coffee consumption went way up. I drank coffee from morning to night. Then a doc...
by Quasimodo
Mon Mar 03, 2014 3:21 pm
 
Forum: Personal Consumer Issues
Topic: [POLL] What do Bogleheads DRINK?
Replies: 72
Views: 3744

Re: Retired Teacher Seeks Advice

Here are a couple of links discussing the safety of Vanguard:

http://www.bogleheads.org/wiki/Vanguard_safety

http://www.bogleheads.org/wiki/Vanguard_FAQ

Other more knowledgable posters will comment on your questions.

Congratulations on retiring!

John
by Quasimodo
Sun Mar 02, 2014 12:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: Retired Teacher Seeks Advice
Replies: 3
Views: 678

Re: What was your dumbest financial decision?

Cashed out a retirement plan when I left an employer because... well.. because I was an idiot. This wasn't just a regular cash value plan/401k plan... no that would be less painful... this was one of those pension deals that you got a pension for life at 55 based on that amt growing over decades - ...
by Quasimodo
Sat Mar 01, 2014 7:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: What was your dumbest financial decision?
Replies: 106
Views: 8336

Re: Purchasing physical gold??

Here’s a link to a forum with a number of discussions about buying physical gold:

http://gyroscopicinvesting.com/forum/gold/

John
by Quasimodo
Sat Mar 01, 2014 1:52 pm
 
Forum: Personal Consumer Issues
Topic: Purchasing physical gold??
Replies: 45
Views: 4208

Re: Vanguard International Funds

I’m 75 years old. My choices were the ETFs Total World Stock (VT) and Total International Bond (BNDX). I’m more comfortable with index funds than with managed funds. On Vanguard’s website I was surprised to learn that international bonds currently constitute the largest investment category, larger t...
by Quasimodo
Fri Feb 28, 2014 9:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: Vanguard International Funds
Replies: 10
Views: 1200

Re: Why bonds??

Nisiprius said it more eloquently, but speaking personally and subjectively, it’s easy for me to overestimate my ability and willingness to take risk, so that without the stabilizing effect of having some bonds in the portfolio I would lose confidence and abandon an all-stock strategy during a sever...
by Quasimodo
Fri Feb 28, 2014 1:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: Why bonds??
Replies: 25
Views: 2256

Re: How Much Auto Coverage Do I need?

Say I lived in a no-fault state and carried whatever limits were required by that state. If I drive my car into a different state that isn’t no-fault, and I’m involved in a severe multiple injury accident in that state and get sued for a seven figure amount, can I escape the lawsuit because my car i...
by Quasimodo
Thu Feb 27, 2014 5:24 pm
 
Forum: Personal Consumer Issues
Topic: How Much Auto Coverage Do I need?
Replies: 16
Views: 1112

Re: How Much Auto Coverage Do I need?

I'd suggest at least getting a quote from your insurer on the cost of raising your auto and personal liability to the minimum required for an umbrella liability policy with a $1 million limit. Then you could evaluate how comfortable you are spending the money to get those limits, which would protect...
by Quasimodo
Wed Feb 26, 2014 2:01 pm
 
Forum: Personal Consumer Issues
Topic: How Much Auto Coverage Do I need?
Replies: 16
Views: 1112

Re: Do you tilt? If so, how?

I have a small allocation to a gold miner exchange traded fund (GDX), however this fund holds international companies, not all domestic, so maybe I don't qualify for the survey.

The other stock ETF I use is Vanguard's Total World Stock Index (VT).

John
by Quasimodo
Mon Feb 24, 2014 2:01 pm
 
Forum: Investing - Theory, News & General
Topic: Do you tilt? If so, how?
Replies: 44
Views: 3560

Re: GEICO Insurance

We have GEICO but fortunately never had a claim with them, so we weren't sure what that would be like.

It's reassuring to hear they are user-friendly. Thanks for sharing your claim experience.

John
by Quasimodo
Sun Feb 23, 2014 2:48 pm
 
Forum: Personal Consumer Issues
Topic: GEICO Insurance
Replies: 1
Views: 348

Re: Raising Auto Insurance Deductibles - Should I Do It?

Hi Ketawa;

The other posters had good advice.

I raised our comp and collision deductibles and more than paid for an umbrella liability policy with the savings. The physical damage possibilities aren't as financially threatening as a large lawsuit.

John
by Quasimodo
Fri Feb 21, 2014 1:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Raising Auto Insurance Deductibles - Should I Do It?
Replies: 10
Views: 563

Re: Better to be nice than right: A thank you to Taylor Lari

Thanks for sharing a great letter, Lauren.

John
by Quasimodo
Fri Feb 21, 2014 1:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Better to be nice than right: A thank you to Taylor Larimore
Replies: 7
Views: 1067

Re: Woodpeckers

In Front Range Colorado we have a hanging suet cake feeder and a caged bird seed feeder on our second story condo porch. Peanut butter suet cake seems to be popular. We have seen Red Shafted Flickers, Downy Woodpeckers, Blue Jays, Bushtits, Common Grackles and Starlings at the cake feeder. Last year...
by Quasimodo
Sun Feb 16, 2014 1:55 pm
 
Forum: Personal Consumer Issues
Topic: Woodpeckers
Replies: 22
Views: 2182

Re: Commodity fund vs materials ETF

Good advice from dbr. If you haven't seen it before, here is one source of recommendations for commodity futures funds: http://www.altruistfa.com/commodityfunds.htm excerpt: "In general, we would recommend only a fairly small fraction of any portfolio be allocated to this asset class. Further, ...
by Quasimodo
Sat Feb 15, 2014 8:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: Commodity fund vs materials ETF
Replies: 4
Views: 272

Re: Appreciation For Mel

Thank you, Mel and Taylor, for your wisdom, civility and hard work.

John
by Quasimodo
Mon Feb 10, 2014 9:46 pm
 
Forum: Investing - Help with Personal Investments
Topic: Appreciation For Mel
Replies: 11
Views: 1274

Re: Poll: Which fixed income investment should livesoft choo

Hi Livesoft:

What do you think of Vanguard's suggestion you hold 20% of your bond allocation in international bonds?

https://personal.vanguard.com/us/insigh ... ion-052013

John
by Quasimodo
Sat Feb 08, 2014 12:43 pm
 
Forum: Investing - Help with Personal Investments
Topic: Poll: Which fixed income investment should livesoft choose?
Replies: 88
Views: 4540

Re: emerging markets chart [Oldest Fund?]

Here's one article: http://www.nytimes.com/1998/01/11/business/mutual-funds-report-emerging-markets-nice-concept-bad-outcome.html excerpt: "The oldest fund classified by Morningstar Inc. as a diversified emerging-markets fund is Merrill Lynch Developing Capital Markets, which started in 1989.&q...
by Quasimodo
Sat Feb 08, 2014 12:27 pm
 
Forum: Investing - Theory, News & General
Topic: deleting my post
Replies: 3
Views: 320
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