Interesting, Insurance company specifically not covering “assault rifles”

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  • Razer

    Marksman
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    Jun 20, 2013
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    South Central Indiana
    Got an email today from an insurance company I’d been following as they enter the market. They seem to do things different than most and I was considering them. Then I see this email, linking to thier blog.

    https://www.lemonade.com/blog/insuring-guns-lemonade-takes-stand/

    Basics, they are only going to cover $2500 in guns, they will only cover if secured, and they don’t understand why anyone needs “assault rifles” and they will not cover them at all. Not seen any reaction anywhere online around this so maybe no one knows yet? Thought I’d at least share here. I feel like they can limit coverage if they want, the secure thing is sorta understandable as unsecured means more easily stolen, but not covering a firearm type is a new one to me!

    I assume that that must mean only full autos right? Ha.
     

    Razer

    Marksman
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    0   0   0
    Jun 20, 2013
    164
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    South Central Indiana
    I don’t have them myself, and this new stance is new as of today. They are “taking a stand on guns” in light of the Las Vegas shooting. I’d like to know what they will not cover, feel some in the industry or somewhere might want to reach out to them. Maybe they would change if reached out to, but I doubt it.

    The blog is an interesting read.

    the best quote, is something about they respect gun ownership but are not into gun worship.... seems a little over the top there....
     

    Cameramonkey

    www.thechosen.tv
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    May 12, 2013
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    They lost me immediately with thier hyperbole.

    "The 600 Casualties..." Excuse me? there were specifically 600 shot and killed? Or at least shot? (when I hear "casualties" I think death, not injuries) I dont think so.

    That right there is blatantly disingenuous and seeks to blow the event out of proportion.

    I find it interesting that you cant contact them in any way without subscribing or giving them your name and email address up front. No contact forms, no email addresses, no phone numbers. At least none that I could dig up quickly and with the little effort that should be required to contact a vendor.

    Would be interesting to hear their legal definition of an "assault rifle". After all if they are using it in an insurance policy, it must be spelled out in black and white.
     

    Cameramonkey

    www.thechosen.tv
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    Interesting from their service description:

    A transparent 20%
    fee to run everything


    We pay claims
    super fast


    If there's money leftover,
    we give it back to causes

    State farm has been doing that for years. Except "the cause" are the customers. Granted I havent seen one in a decade, but I remember getting small dividend checks from them every year or two as they had good years with minimal payouts.

    Gee, I wonder what "causes" they support. :rolleyes:
     

    churchmouse

    I still care....Really
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    187   0   0
    Dec 7, 2011
    191,809
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    Speedway area
    Even unsecured if a thief is in your home they broke in to get there. Yes we need to secure. No argument but again, in your home not leaning against the front porch post. "IN YOUR HOME"
     

    Cameramonkey

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    Even unsecured if a thief is in your home they broke in to get there. Yes we need to secure. No argument but again, in your home not leaning against the front porch post. "IN YOUR HOME"

    double secured is what they expect. (And I do too, honestly) Whats next? in a vault AND trigger locked?

    I agree, I wouldnt fault an insurance company to tell someone to pound sand over a truck rifle just laying under a seat, unsecured while parked outside overnight. But to tell me that my locked steel front door isnt good enough to be considered secured? Whats next? Kensington Locks on my compatible electronics?

    R4851335-25.jpg


    This unreasonable type of pie in the sky expectation is not unexpected from a millenial driven group like this.
     

    Hoosierkav

    Expert
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    5   0   0
    Dec 1, 2012
    1,013
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    South of Indianapolis
    From their FB page: "Lemonade Insurance Company is a licensed insurance carrier, offering homeowners and renters insurance powered by artificial intelligence and behavioral economics. By replacing brokers and bureaucracy with bots and machine learning, Lemonade promises zero paperwork and instant everything."

    In other words, no humans, just algorithms...

    I wonder what their post-claim retention rate is.
     

    Cameramonkey

    www.thechosen.tv
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    May 12, 2013
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    From their FB page: "Lemonade Insurance Company is a licensed insurance carrier, offering homeowners and renters insurance powered by artificial intelligence and behavioral economics. By replacing brokers and bureaucracy with bots and machine learning, Lemonade promises zero paperwork and instant everything."

    In other words, no humans, just algorithms...

    I wonder what their post-claim retention rate is.

    Good point. You wont last long if you lose customers after a payout. (or lack thereof) A good and skilled human in this field can screw you a little and make you say thank you. AI? Not so much. I foresee lots of short sighted calls by their bots as bots follow hard and fast rules, ignoring short term losses over long term loyalty.
     

    rvb

    Grandmaster
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    Jan 14, 2009
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    IN (a refugee from MD)
    They lost me immediately with thier hyperbole.

    "The 600 Casualties..." Excuse me? there were specifically 600 shot and killed? Or at least shot? (when I hear "casualties" I think death, not injuries) I dont think so.

    That right there is blatantly disingenuous and seeks to blow the event out of proportion.

    no, that's legit use of the word. Casualty usually means killed or injured.
    -rvb
     
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