I wonder what's driving the increase. Was it the replacement value? I know that land prices are increasing, perhaps the cost of materials is gonna make everyone's rates go up.
Seems the folks in Illinois are trying to get a law passed that stops property taxes on people who own their property free and clear or those who are 65 and older.
I don't wonder, it's the same ole same ole, make more money....Real estate is major industry in CA....
I don'tknow which side you are ranting for/agin. I'm not certain what diff it makes whether or not you have a mortgage. I guess once you pay off the voluntary lien, you don't want the perpetually-renewing government lien on it (I'm in that boat.) I mentioned elsewhere that exempting those 65 & over from taxes when demographics lean heavily that way is not a responsible thing to do...it's unfair to younger folks, and politicians would only do it to divide us. Perhaps if there were a Means Test tied to it in addition to age, which would help those who are no longer working and who have little hope/opportunity to improve their financial circumstances. All this narrow-focused stuff avoids the "What Should Our Government Do/What Will It Cost/Who Gets to Pay" conversations.
Yes; replacement value is much higher with the inflated real estate market and materials costs. Insurance companies are going to cover their own butts. Of course the inflated values also raise our property taxes, so it's going to be tough on a lot of families already hit hard by other rising prices.
Real estate is a major industry in most parts of the country. On the flip side, people's homes are a big chunk of their Retirement Nest Eggs. My mother benefited from the boom outside of DC. So did I. But we both lived in our homes for decades, using them as residences and not for short-term speculation.
Yup. I commented elsewhere that the value of used cars is skyrocketing. Those of us who live in states that levy annual ownership taxes on vehicles (Property Taxes) are gonna get hit hard. I'm glad I lived in a era where "clunkers" were still on the road...for most of adult life I was assessed the minimum vehicle tax. Speaking of cars...I wonder what's gonna happen with insurance on those? Even those of us who do not have comprehensive due to the age of our vehicles have still gotta carry coverage for the other guy's damage. I wonder if this all-fronts assault was planned, or if stuff like this is an unintended benefit to our new lords & masters.
I never saw the reason for un-insured motorist. Its the bulk of our policy. Our vehicles are old, 1995 and 1986 old.
The uninsured motorist section of the policy has nothing to do with the age of your vehicle, @Marie Mallery , it is for your personal protection. Liability coverage pays for another person’s vehicle of you hit them, comprehensive full coverage pays for your vehicle if someone hits your car. People with older vehicles usually just carry liability insurance. The uninsured motorist coverage is in case someone hits you and you are injured and need medical treatment, and they are driving without proper insurance . It is an important thing to have, and maybe more than before, now that so many states have illegal aliens who are driving with no license or insurance.
IMO opinion I should not have to pay for someone else's criminal behavior. My insurance should protect me from those who drive illegally. But like everything else in America now criminals have more protection than we do at times. If I didn't have insurance I could understand the logic of it. If I hit someone my plan has to cover them and me or thats what I understand it to do? The way I see it is I'm paying for somebody elses insurance? Evonne maybe I just don't understand ?
That IS what it is doing, @Marie Mallery . If some drunken illegal with no license and insurance crashes into you, and you end up in the hospital, your insurance is going to pay for the hospital for you, and it does this through the uninsured motorist part of your coverage. If the guy who hit you also ends up in the hospital, your insurance is NOT paying for his medical bill, so you are only spending the money to protect yourself and your family. If you hit the other person and are at fault, is the only time your insurance is going to pay anything to the other driver. Many years ago, I was hit by an unlicensed and uninsured (and drunk) driver, and was in a serious accident because of it. My insurance went after him, and also his father, who owned the vehicle the person was driving, but said they were not able to sue them for anything because they had no money. My insurance had to take care of my medical bills from the accident.
If you have good medical insurance, you don't need uninsured motorist coverage (I was advised of this by our agent.) Comprehensive insurance is a coverage that helps pay to replace or repair your vehicle if it's stolen or damaged in an incident that's not a collision. Comprehensive coverage covers losses like theft, vandalism, hail, and hitting an animal. Collision coverage is self-explanatory.
Ok then,but I still don't like it, old vehicle or not its unfair law imo. Insirance is a huger lobby and could have protected their self without making us pay out the nose for someboy elses lack of respnsibility. This law is basically new isn't it? Last few decades? What did we do before that I wonder? So I'm paying some insurance shruck premiums that only protects me from criminal when I'm already paying them for " protection " of legal responsible drivers and my own acidents? I thought thats why I have insurance to begin with and the more we have the higher the price. I'm . We pay it so guess it really doesn't matter,huh.
Also they don't have to worry about replacing one of our old beaters because they couldn't find one now anyway now that Obama destroyed all the older vehicles that didn't run on chips and other devices.Of course we would like to have a new one but they cost too much and in the shop more than ours.And too many fancy gadgets to tear up on the new ones.My daughters Lexus is in the shop often for s newer auto..
They had the uninsured/underinsured motorist coverage back as far as at least the 1960’s , Marie, and I don’t know about before that because I wasn’t driving before then. This is not a new thing, and has always been part of automobile insurance. It does not matter if your car is new or an old clunker because it only covered personal injuries to you and any passengers you have, and does not cover the vehicle you are driving , if it is wrecked, too. All it does is to make sure that you get necessary medical coverage in ANY accident, regardless of who might be at fault, and that is probably the most important reason to have the insurance (in my opinion).