Another Quiet Night in the Texas Panhandle

[CeeBee]

More than 30,000 people are killed by firearms each year in this country

The number of homicides is actually in the 14,000 range, the rest being suicides. And 80% of gun homicides are within gangs. But this another discussion
One that is not a gang member is still more likely to be killed by a drunk driver.

[Pinnacle-Project]

There are a bunch of prefab fiberglass shelters available for about what a septic tank costs. You just rent a backhoe, dig a hole and bury the thing. That's what my neighbors have. Theirs is good for up to six, if you don't mind being crowded. No amenities of course, but it's not like you are going to spend much time in it anyway.

This sounds like a good solution. Plus, renting a backhoe makes for a fun day. I rented one once for use on some property we used to own. I had a blast. Maybe I missed my true career calling.

[slgrieb]

On average 60 people are killed every year by tornadoes.
On average 1500 people are killed every year in hit-and-run accidents.

Let's face it though, your chances of death or injury from a tornado vary a lot depending on where you live, so this is pretty cheap insurance. Look, what does your homeowners insurance cost every year, and what do you estimate your chances are of, say, having your home destroyed in a fire?

[CeeBee]

Let's face it though, your chances of death or injury from a tornado vary a lot depending on where you live, so this is pretty cheap insurance. Look, what does your homeowners insurance cost every year, and what do you estimate your chances are of, say, having your home destroyed in a fire?

The insurance is mandatory when you have a mortgage so it is absolutely a ripoff. Much like auto and health insurance.
However odds of death in a tornado area are still lower than death in a bath tub. Yet people spend $10k on a shelter but not $10 on a good anti-slip mat.

[slgrieb]

Has anyone mentioned lately that you mostly don't get it?

[Cleetus]

Has anyone mentioned lately that you mostly don't get it?

He would argue with a wall that it is doing its job wrong

[slgrieb]

He would argue with a wall that it is doing its job wrong

Ya think?

[CeeBee]

Has anyone mentioned lately that you mostly don't get it?

I absolutely get it. It's not cheap insurance, it's insurance based on fear, not on odds. I bet many would pay $100 extra to have parachutes on commercial flights - even though chance of ever needing them (or being able to use one) are virtually zero.

[northbayteky]

...it's insurance based on fear, not on odds. ...

No, no and no.


I only have home owner's insurance because it's mandatory, as you said. Same for my car insurance. I have health insurance not because I'm afraid of getting sick, but because I'm afraid of needing the emergency room. Not because I'm afraid, but because I've seen emergency room bills and it's much cheaper to pay for something I hardly ever use (health insurance) than to take the chance that a driver that's texting and driving won't hit me, ever.

I live in California and my home owner's insurance company (no matter which company carries it) is always trying to sell me earthquake insurance. I'm not afraid of an earthquake. Since I've been in this house (27 years) there have been several big ones that didn't do more than sway the hanging lamps. That would be the Loma Prieta quake (1989) and the one in Napa from last year.

If for some reason my home burns to the ground, I will get "some" house back for my insurance and I won't be out all the mortgage payments I've made over the years. So while you cling to the belief that it's a rip off, it really guarantees two different things - that you will have a roof over your head after the tragedy and you aren't stuck with a mortgage payment for a plot of dirt.

[Overdrv]

I absolutely get it. It's not cheap insurance, it's insurance based on fear, not on odds. I bet many would pay $100 extra to have parachutes on commercial flights - even though chance of ever needing them (or being able to use one) are virtually zero.

Not true

The goal of an insurance company it to take 1 dollar in for every 1 dollar paid out in claims and expenses. Insurance company profits come from the investment income on that pool of money. No one wants insurance or thinks it's a big scam until something happens.