Then why to they require I insure their property? No doubt they are in a better position to self-insure than I am. Perhaps a reasonable compromise could be reached - I could insure against damage I am responsible for - kind of like a security deposit - and they could carry the risk for natural disasters, fire, and liability.
But, I get your drift; Americans suck..bankers suck, insurors suck, lawyers suck, yeah..yeah..yeah. They owe you a house, and a life free of responsibility.
Now that you mention it, some bankers do suck. My husband and I got a auto loan through a bank and the bank took it upon themselves to purchase insurance for the car and charge us for it even though we had the required insurance. The issue came up annually for the duration of the loan.
When the loan was paid off, the bank refused to give us the pink slip claiming we owed for insurance. They also claimed that they had never received proof of insurance and indeed their file contained no such record. "Why can't you people understand...?" the bank manager asked.
Fortunately, the insurance broker copied us on all communication with the bank. While I sat in the manager's office with my file of letters between the bank and us, the insurance agency and the bank, I was privileged to hear the jerk on the phone instructing an employee to "stick" another customer with this charge and that.
In the end, we got the pink slip - no admission that the fault was on their end, no apology - just a we'll let it go this time because you're crazy, lady.
The "Americans suck" and "lawyers suck" is entirely a product of your own thinking as is your wierd comment about being "owed" a house" or a "life free of responsibility".
All you needed was proof that you had insurance for the period of time they took out a policy on you. The insurance company would have provided you that. In turn, the bank would have had to refund you any amount they had charged for the time you were insured.
Because you convinced them that you would exercise pride of ownership.
They are not in the real estate business; nor are they interested in a second home. They invested in you. There is no more clear a way to demonstrate that you are/are not a good investment than by protecting/ignoring that investment.
Perhaps a reasonable compromise could be reached
Perhaps. Try it. But, remember...it is you that is asking them for a favor; not the other way around.
..the bank took it upon themselves to purchase insurance for the car and charge us for it..
I bet they charged you an outrageous amount for that insurance too.
As loan collateral, the bank wisely insisted the auto be protected with insurance. Rightly, or wrongly; they obviously were of the opinion that you had failed to do so.
As with every other walk in life; there are, of course, idiots and jerks in banking. That is not an indictment of the banking industry...only that individual.
The "Americans suck" and "lawyers suck" is entirely a product of your own thinking...
It is a product...an insult...an outrage by your indictment of entire industries, staffed by your fellow Americans, of being cheats & scammers.
Again I ask; if insurors are so despicable, why do you continually choose to send them money? It is your choice.