insurance question

[float_6969]

well I totally agree about the insurance fraud. That figures into half of what you pay for. Now I can't totally agree that I'm over charged though. I've only had once accident where my insureance had to pay anything to fix another car, and that was just a couple of months ago, and all it cost them was the replacement of a bumber on a nissan pickup. I only had liability, so I didn't get my car fixed, though it was totaled regardless. Anyway, I guess that I'm happy that insureance is something that you can have, I'm just unhappy with the fact that it's mandatory and that the price is incredibly high.

[C-Kwik]

I understand if you rear end a BMW, but the insurance company will drop you & rates go throught the roof. Then if you turn in a claim they always try to lowball you even if you have paid your premiums on time. Insurance won't get any cheaper, just look at rising health costs. Nick

Typically an insurance company will not "lowball". I'm sure there are cases where this happens, but any good insurance company will offer to pay the lowest fair amount. And there is nothing wrong with that. In fact, this is what keeps insurance companies competetive. Just like fraud, if the costs of claims goes up, we all pay for it in premiums. Any decent company will pay to have your vehicle repaired to manufacturer standards with minimally used OEM or New certified aftermarket parts(meaning they meet or exceed the OEM parts standards for fit, finish and safety). Remember, ultimately, insurance comapnies stil have to answer to the department of insurances and the courts. Sometimes though since insurance companies have to come up with values, depending on what kind of information is available the values can be wrong. It is up to the person making the claim to"prove the claim" I doubt there is no insurance company that would not at least look at evidence that you provide.

And as far as dropping you, for rear ending a BMW, you would have probably been dropped regardless. Insurance companies are businesses. It would be bad business to insure a rick that would lose them money. Some non-standard carriers may be able to write a policy for a higher risk as they have more limitations on their policies. But the decision to keep a risk has just as many factors as the decision to write a risk in the first place.

[C-Kwik]

I'm just unhappy with the fact that it's mandatory and that the price is incredibly high.

As far as I know states only require liability insurance. Remember that driving is a priveledge and not a right. Nothing wrong with requiring someone who has been given the priveledge of driving the requirement of being a responsible citizen if you ask me. As far as price, there is no monopoly on insurance. So rates have to be competetive. I highly doubt all insurance companies would arbitrarily charge high since it would only take one to write lower and take away all the business.

And there are only a small amount of carriers(relatively) that actually make an underwriting profit. Most have to invest the premiums they take in in order to keep from losing money each year. If an insurance company makes 2 cents of profit for each dollar of premium they take in, it's considered very good.

Most of us here are probably young and considered higher than average risk. Keep your record clean and I'm sure your rates will come down. My mom pays about a third what I do for her two cars for my one car. And she has more accidents and drives more miles.

[Bussman240sx]

one trick to insuring a hatchback, like a 240sx or an eclipse is check alot of insurance companies. my friend and i both have 240 hatchbacks, but my insurance says it is a passanger vehicle because it has a back seat, and his insurance says it is a sports car. so i have cheaper insurance then he does.

[big jon's 240]

I know they are in the business to make money, and they provide a valuable service. However im not fond of the idea that beacause half the people my age (23) are morons who cant drive, and therefore i suffer the consecuences of higher premiums, thats just not right.As an example, my premium on my Acura just went up a few dollars, not becuase of my record (which is prefect, no wrecks or tickets) , but becuase other bone heads with my same car get in a lot of accidents.Its a lose lose situation if you ask me, your screwed if you dont have it, and they screw you if you do have it.I had an insurance company (a company called USAA) once who gave you money back at the end of the year if you had no wrecks, but i cant have them anymore becuase they only dealt with the military. And as far as the number crunching to come up with rates, i had a college professor once tell me that there are three kinds of lies: lies, damn lies, and statistics!

[big jon's 240]

And one more thing. What kind of logic do they use to they use to come up with idea that if i am in a wreck, and its not my fault, i shoudl pay maore? so its my fault, and i have to pay, because the state will give any idiot a licence to drive? shouldnt THEIR premium go up and not mine? Okay, im done whining now!