Car Insurance skyrocketing

[LittleBittyBigJohn]

That's rude of them...

 

[two_bit_score]

Hay, do you ever get lost in your house, 7,000 sq ft is a castle!
Our insurance with hurricane included runs a little over 5Gs just for the house.

Im adding insurance salesmen to my list along with lawyers, realtors, car salesmen, politicians, ect...

You're on the right track.

 

[ultrarunner]

Last time I checked, not even one insurer operated as a 'non profit'. They are all in business to make money on you...lol

Yes and they have made a bundle but to avoid discrimination they toss the profitable customers out to justify not writing coverage for undesirables…

Plus type of construction or mitigation not a factor.

A concrete block with metal roof is the same as stick with comp.

There is a issue with shake roofs so it’s not 100%

 

[Hay Dude]

Hay, do you ever get lost in your house, 7,000 sq ft is a castle!
Our insurance with hurricane included runs a little over 5Gs just for the house.

Im adding insurance salesmen to my list along with lawyers, realtors, car salesmen, politicians, ect...

Appreciate those kind words.
It comes in handy-xspecially when you have a dementia patient living with you.

I worked myself to death to get this home in 2008 and have lived here for 16 blissful years, since I was a “young pup”.

We are selling and moving on to a larger piece of land and more manageable home for Mrs. Hay Dude.

 

[JasperFrank]

Insurance is not a right. No one HAS to give you insurance aside from your saving account, for anything.

 

[YanmarFever]

Nobody here is asking for anything for free...
Just a fair price instead of getting raked over the coals every six months.

 

[Joel/ak]

No such thing as a fair price for just about anything nowadays.

 

[ultrarunner]

Lots

Insurance is not a right. No one HAS to give you insurance aside from your saving account, for anything.

Insurance may be mandated via government such as flood and is seen as a right.

Earthquake not mandated but is a right through the State.

Unemployment Insurance and Health Insurance are often termed a right at least here as well as Workers Comp.

 

[two_bit_score]

Insurance should be a competitive business. As soon as there is a way to make money the market place will be filled with underwriting offers.

I’ve seen cycles where insurance companies tried to ‘buy business’ in certain areas by liberally paying claims.

They would lose money by paying claims normally not covered to gain a perceived reputation in the market place as a ‘fair company’. Good example is roofs. Normally a roof is subject to depreciation because of normal wear and tear de to weathering. So with depreciation and deductibles it’s often the case that an insured doesn’t collect much on an older roof.

But, some companies will relax the depreciation withheld intentionally expecting that word gets around that Neighbor A got hit with 50% depreciation and Neighbor B’s insurance company only took 20% depreciation.

Company B starts getting more Homeowners policies. But in time the company will be forced to increase premiums, non-renew policies by field underwriting, increase depreciation with holdings, or possibly go out of business.

 

[ultrarunner]

Maybe there would be more competition if insurance didn't come with a mandate?

Still plenty drivers in the road with no insurance or drivers license and Max DMV penalty is revoking license so if you drive without the DMV is out of the picture.

You have a good chance of vehicle impound but if you drive a worthless car with expired tags you might come out ahead...

I've been hit 3 times over the years and drivers no license or insurance...