A Short Preview:
“Please remember that your insurance company
owes you a legal duty of ‘good faith’ and fair dealing.”
~ Matt Hale, “Auto Insurance Shenanigans”
By Catherine Austin Fitts
I consider it of great importance that every subscriber who drives a car or is a passenger in a car listen to this interview—and that means just about everyone. This interview with attorney Matt Hale, a long-time contributor to the Solari Report, can save you a great deal of time and money and perhaps your life.
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I live in a beach community in NJ. I work from home. When I use my car its scary. People are not paying attention.
With special nod to Garrett B. Gunderson over at Wealth Factory, my insurance philosophy is:
Insure the catastrophic, pay cash for the inconsequential.
Transfer as much catastrophic risk as possible to your local, reliable (& as Matt Hale mentioned perhaps a non-publicly traded) insurance company.
I have AAA also. For auto I have MAXED out PIP and Uninsured/underinsured at 500k/1MM – I also pay for a total loss replacement rider which will pay for the current new cost of my car if it’s totaled. I also have home insurance with AAA & a 1MM personal umbrella policy. It costs me an extra $160 annually for the umbrella coverage. It did go through underwriting, but that is a small price to pay to transfer an additional 1MM in risk in my opinion.
Just ask your agent (in person) to run the numbers and purchase as much coverage as you’re allowed by your jurisdiction. You will be amazed at how little the extra coverage costs you and you can decide if it’s worth the extra cash.
This is entirely opposite of what most people do – they economize and cut back on insurance when times are tough (as Matt stated in the interview).
I do get irked by the nuisance premium increases every 6-12 months though. Perhaps this is due to the increased cost of EV claims and reckless endangerment and accidents we are seeing on the roads now.
I highly recommend this interview! It’s OUTSTANDING. Thank you Matt and CAF 🙏
Thank you! Good advice. Love the replacement rider will look into that!
FWIW, I currently have $2mm uninsured motorist coverage with a $250 deductible. It is possible to get. I am certainly going to be finding out how that blends with the rest of the limits which seem to me need increasing.
Tip: Everyone needs to keep Arnica 10M and Aconitum 10M in their glove compartments for when you’re in an accident. Aconitum is for shock and Arnica is for physical blows. If you ride a bike, you can duct tape then to your crossbar.
In an accident you can take one pellet of Arnica 10M every 15 minutes (if you’re of average sensitivity). Throw in some Bellis perennis 10M (for internal injury) every 15 minutes for good measure. Aconitum every hour.
Do that for a good 24 hours and you’ll save yourself a lifetime of hurt. Then get yourself to a qualified homeopath (which is the hardest part).
That’s what I did when I had my accident. If I remember correctly, I needed 15-20 different remedies in high potencies in the six weeks following the accident (I didn’t have any broken bones). And my accident was severe – I had a near death experience.
Great advice, Elizabeth. Thank you.
Wow, thanks Elisabeth for your advice. Makes sense to me; I love Homeopathy.
May I suggest that with the lack of police around to investigate accidents it makes having credible witnesses even more useful. Was a passenger in a truck that was t-boned in an intersection and a lady who worked as an insurance claims adjustor approached me to volunteer her statement affirming that the other driver was the cause of the crash. Nearly dismissed her as she patiently waited to inform me of this as I was preoccupied with other matters. Talk about a very credible witness that swung the legal decision in the correct way while having no police at the scene.
This was an excellent expose. It isn’t the TV screens in the vehicles causing distractions as much as it is the driving skills and hubris of drivers pulling illegal stunts that is creating a dangerous driving environment much like the third world now. Every day I am stunned at some illegal maneuver where the driver crosses multiple lanes to make a left turn–or a right turn in front of other people and more audacious maneuvers. This situation has escalated parallel to the increased immigration policy–no matter what geographical area these immigrants come from.
In California, we now have cyclists and e-bikes utilizing major thoroughfares with the refusal to submit to a large vehicle and causing chaos on the streets. They ride in the same lanes as a vehicle driver. Kids on their bikes, no matter the type, have been bred to have the right-of-way so refuse to even look before they dart out in front of a car. One young girl almost ruined my life the other day (financially and emotionally), deciding to dart out and cross the street on her bike in front of me, without looking or pausing to see if she was cutting anyone off. I had to slam on my brakes when I was driving the speed limit a block from my house. This is becoming a very large problem. The entitlement is taught in the schools and the home.
I stay off the freeways as much as possible. It is constant lane changing and speeding when there is no where to go.
I did not make it clear in the interview that I was including cell phone in the “screens”. I do agree though. People just don’t seem to care about others on the road.
I have a very different perspective on the freeways or interstate. Those roads are more heavily monitored and responded to. State patrol often responds and patrols. Priority is given to the interstate roads. You will have less problems from other drivers because of the ability to keep a consistent pace with less stopping/starting, and the lanes are much larger with shoulders that are usable.
I recently drove back from Georgia to Wisconsin and was a complete idiot thinking I could go north out of Atlanta avoiding the interstate because I felt like driving on the interstate around Atlanta and through Nashville was like a game of frogger.
On the way there, I did the interstate. On the way back, I was a fool and took the state highways north which were often 2 lane through some of the most bonkers landscape with 10 mph switchback turns and a slew of local drivers behind me who wanted to kill me because I was going the speed limit.
Driving through the mountains was equally unenjoyable on the 2 lane highway. I managed to get back on the interstate and soon appreciated the 6 – 8 lanes with separation from oncoming traffic and the ability for other drivers to have their speed needs met in other lanes.
I have also read enormous amounts about when you drive through small towns, the local police are looking for non-locals to exploit, if that is how they roll. There are some very predatory jurisdictions who also exploit their locals.
I have to look at it in terms of total risk management. I will be sticking to the interstate in the future.
Will the interview cover any information for a pedestrian hit by a car? One of my friends was hit by a car while she was out walking in her neighborhood. She had surgery and has been in recovery for two months. She’s just starting to walk. She has an attorney. I’m wondering if there are important things she needs to know as she works with the attorney. Thank you!
Yesterday I received notice that my auto insurance is going up AGAIN! I’m looking forward to this timely interview.