So what you are saying is if I don't like insurance companies then don't carry insurance? Your point has no validity because I believe having some form of insurance is mandatory no matter how $hitty it is...
Ausm
So what you are saying is if I don't like insurance companies then don't carry insurance? Your point has no validity because I believe having some form of insurance is mandatory no matter how $hitty it is...
Ausm
That's EXACTLY what he is saying, and it's 100% valid. If you BELIEVE you MUST carry insurance, then you MUST deal with SOME insurance company.
But the fact of the matter is, except for auto insurance, required by law, inusrance is NOT mandatory, and if you do not agree with the practices of the underwriters, it is YOUR job to either FIND an underwriter you agree with, or DO WITHOUT!
but then they have this other evil called "Lawyers". When sh!t does happen they won't go after that 1 account. They will go after everything you have. You might be forced to file for bankruptcy, who knows.
When you get in to an accident and somebody claims injury your insurance pays them hundreds of thousands of dollars even if you haven't actually paid that much in premium. So no your depositing money in checking/saving account idea won't work.
So what you are telling me insurance companies are not trying to make a profit and are looking out for the best interests of their customers and not themselves?
LMAO
I'm ingnorant...Dude you need to crawl out of your hole and grasp reality.
Ausm
So where does the insurnace get the $$$? Surely after $hit like this they gonna want me to pay an arm and a leg and first born. But then again they are in business to rob money... I mean to make money.
No, see you're jumping to conclusions again. You're under the impression that insurance companies are trying to extort people by charging exorbitant rates which isn't necessarily true. In many cases the company is just "borrowing" your money to invest, and you get it back plus extra later on. In other cases you get dividends on your policy which you can use to increase coverage or have them send you a check when its issued.
I work in the industry so I see where the money goes. Maybe you should be more informed before trying to start an argument about something that you're unfamiliar with.
Your "JUMP TO CONCLUSIONS" mat is starting to show some wear. Start thinking before you post.
How is this different from ANY other market sector? What business isn't acting in its own best interests? If they couldn't make a profit, they wouldn't stay in business!
I think you need to grasp reality.
Health Insurance premiums are inflated due to the high cost of Medical care...it shouldn't be that way..medical care shouldn't cost as much as it does here.
Eh..my general feeling about insurance companies and agents..they should all burn in hell. I HATE them all. Nothing personal.
I have gotten screwed with so many times by insurance agents, they will raise your premiums for nothing, and then tell you its just because of raising rates, and then I can get a lower rate at another company, and the current agent wont' even budge with his rate. If you make a freaking claim on your house (isnt this what insurance is for??) they won't cover you next time you purchase another house, or they will raise your rate. Car get broken into? You better believe your rate is gonna increase. BS all the way around. Group health insurance at work is another thing that just pisses me off beyond belief. Why should I Have to pay the same premium that a 45 year old, diabetic, extremely obese, hypochondriac pay? I'm sorry to all you insurance agents out there..I really do hate you all, nothing personal. Maybe I don't understand all the ins and outs, but its a bunch of crap to me.
Eh..my general feeling about insurance companies and agents..they should all burn in hell. I HATE them all. Nothing personal.
I have gotten screwed with so many times by insurance agents, they will raise your premiums for nothing, and then tell you its just because of raising rates, and then I can get a lower rate at another company, and the current agent wont' even budge with his rate. If you make a freaking claim on your house (isnt this what insurance is for??) they won't cover you next time you purchase another house, or they will raise your rate. Car get broken into? You better believe your rate is gonna increase. BS all the way around. Group health insurance at work is another thing that just pisses me off beyond belief. Why should I Have to pay the same premium that a 45 year old, diabetic, extremely obese, hypochondriac pay? I'm sorry to all you insurance agents out there..I really do hate you all, nothing personal. Maybe I don't understand all the ins and outs, but its a bunch of crap to me.
Amen. What Ausm has never seen is an insurance company protect his interests obviously. I've seen way too many cases of a company just taking over when a kid got injured on someone else's property that wasn't their fault. The kid's parents act like they hit the lottery and get a plaintiff attorney to sue for millions. That's when insurance pays off many times more than anything you've ever paid them for. Having the ins. company's lawyers and adjustors fight the fight for you is worth it. Ausm needs to arm himself with a little bit a knowledge before spouting off. For that matter, ask a plaintiff attorney who makes a very good living suing insurance companies if he thinks insurance is a ripoff or not, and who he has his coverage through and how much? Conflict of interest? Nah, he's a wolf in sheep's clothing, but I guarantee you that he has lots of insurance with the very companies that he litigates against because he knows they're worthwhile.
Insurance is based upon the needs of a few being supported by the majority of those who infrequently make claims. When claims go up, the pot gets smaller and state insurance commisioners require certain amounts of funds based on the type and number of policies issued. That's when and why insurance companies have to prove to the state commisioner why they need to raise rates. Remember, your state insurance commisioner approves all rates before they are done. Don't blame the agents, they are simply that, agents of a company. The company makes and decisions, not the agent. The agents have about as much to say about things as a car dealer does about how a new car is designed.
I understand this, its never the agents fault. Its just...one of those things. On that subject, however..how come when I got in a car accident, which wasn't my fault at all (someone ran into me), the other person was ticketed...my premium went up?
Regs
Lifer
- Aug 9, 2002
- 16,665
- 21
- 81
Anyone from NJ? If so, can we please stuff this guy in a barrel and roll him down a hill?
lol. You guys have no idea.
Our state pushed just about every auto insurance company out of state. Yet they still appose one of the most stiffest fines being caught without insurance, a 4 point ticket with a 300 dollar fine.
The ones that are left offer quotes only by mail with 2-4 week waiting periods. I pay 1800 for 6 months for full coverage on a 98 Honda Accord. That's over 300 dollars a month, you do the math. This is without one ticket, missed payment, or accident. It's because I'm male and under the age of 25.
lol. You guys have no idea.
Our state pushed just about every auto insurance company out of state. Yet they still appose one of the most stiffest fines being caught without insurance, a 4 point ticket with a 300 dollar fine.
The ones that are left offer quotes only by mail with 2-4 week waiting periods. I pay 1800 for 6 months for full coverage on a 98 Honda Accord. That's over 300 dollars a month, you do the math. This is without one ticket, missed payment, or accident. It's because I'm male and under the age of 25.
Isn't this discriminating? When you are male, you are automatically a reckless drive? This is not right. I see some guy around 20 or 30 doing 50mph on a 55mph road.
It's just math. Males under 25 have the most accidents, so they have the highest insurance rates. Even writing "but I'm a really really good driver" on your application and having your mom vouch for you doesn't help.
I also wish you could get Comprehensive coverage and not have collision coverage. Liability+UM+comprehensive is what I want..but nope..can't do that. Probably a law of some sort.
They pushed them out because they were requesting premium increases and the S.I.C. wouldn't approve it. It finally got so expensive, most major companies just said they are not going to do business in that state until they reconsidered. Don't fault the insurance companies, they are not at fault. It's the simple fact that it costs more money to do business in that state than anywhere else.
Regs
Lifer
- Aug 9, 2002
- 16,665
- 21
- 81
O no no, I don't fault the insurance companies.
Car theft is an organized crime here and so is insurance fraud. Our state did very little to enforce the law, and even when they did, most convicted felons who got caught where out on the streets again after a one month jail sentence.
We also had some bogus consumer laws that didn't help much.
I really want to move but I can't. I work and goto school here, it isn't happening!
Car theft is an organized crime here and so is insurance fraud. Our state did very little to enforce the law, and even when they did, most convicted felons who got caught where out on the streets again after a one month jail sentence.
We also had some bogus consumer laws that didn't help much.
I really want to move but I can't. I work and goto school here, it isn't happening!
Vic
Elite Member
- Jun 12, 2001
- 50,415
- 14,307
- 136
Yawn. Only the weak-minded believe that they are forced to buy anything.
Don't like insurance, don't buy it. Simple as that.
What's that? Wait? You actually do like the benefits that insurance provides you, like not having to pay out of pocket for that expensive medical procedure or not being sued tens or hundreds of thousands for your at-fault accident? Then STFU.
Ausm[/quote]
That is a sure sign of ignorance. Please explain how you came about that reasoning.
\Ex*tor"tion\, n. [F. extorsion.] 1. The act of extorting; the act or practice of wresting anything from a person by force, by threats, or by any undue exercise of power; undue exaction; overcharge.
1. Health insurance: Never mandatory. You pay for coverage tantamount to your premiums. Ask anyone who's had a major accident, surgery, or other unexpected medical condition, that would have had to pay for it out of pocket. There's no reason not to have it.
2. Life insurance: Never mandatory. You pay pennies on the dollar for coverage in case of death, one of the most uncertain things about life. Some forms accrue value and can be used as a great tax-deferred financial tool (i.e. education).
3. Car Insurance: mandatory for your own protection. Keep in mind that insurance companies base their premiums solely on the demographic of the insured plus the frequency of claims in the area. If you think you're paying too much, move.
In short, if you think you're paying too much for insurance, find a better agent who can get you lower rates.[/quote]
4 years ago, my wife got into her first accident. She had been driving for about 12 years at the time. It was a minor finder bender and cost around $500 in damage. My rates were then increased around $400 every 6 months. Total cost to me = $2400, total cost to insurance company = $500, OVERCHARGING me $1900 for a minor accident. I did some shopping around and companies were about a +/- $50 difference from that rate, so they all must sleep in the same bed. Insurance is mandatory in my state, so no way around it.
Before you make the claim about the accident, last year my homeowners insurance went up $75 and I have never made a claim. Their story, too many claims in my state. So let me get this straight, insurance companies raise my rates when I use the insurance and insurance companies raise my rates when other people use their insurance and they are not a rip off?
Being my wife's first accident, she didn't know any better. The $500 was from the other person in the accident. I fixed the damage done to her car myself to avoid a claim. I tried to call the lady to work something out, and she had already filed a claim.
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