F&ck insurance companies!

[MR.MAGOO]

If you don't like insurance companies sell your car and ride the bus.

 

[highfigh]

Well, to be fair, insurance does not have you in their best interests.

They lobbied themselves in a position of requirement and are capitalizing on us.

Indeed, it sucks.

Very best,

I have never thought insurance had our best interests in mind- it has been a way to scrape money away from people for as long as it has existed, which is close to 4000 years. From the link, "What some consider the first written insurance policy was found on an ancient Babylonian monument.".

It's gambling, which explains why some cultures aren't allowed to buy insurance. One side is betting that we'll have a claim, the other is betting that we won't and the insurance industry worked out the odds a long, long time ago, so we're betting against the house.

EDIT- I thought I might a well post the link, since I mentioned it.

The History of Insurance

The first written insurance policy dates back nearly 4,000 years. Here is how insurance came into being and how it evolved from there.

www.investopedia.com

 

[highfigh]

If you don't like insurance companies sell your car and ride the bus.

What should I do about the upcoming increase in my homeowner's insurance?

Why would I want to ride the bus? That removes any chance of going where I want, when I want. Screw that.

What I don't like is paying for other people who are f&ckups

 

[highfigh]

The only way out is shopping around. But, why would other companies be cheaper when they can charge what the market will bear.
We are powerless in essence.

I keep getting offers from The Hartford, saying that I can save hundreds on my auto policy, but they don't even write for cargo vans. WTF?

 

[j_garcia]

I have never thought insurance had our best interests in mind- it has been a way to scrape money away from people for as long as it has existed, which is close to 4000 years. From the link, "What some consider the first written insurance policy was found on an ancient Babylonian monument.".

It's gambling, which explains why some cultures aren't allowed to buy insurance. One side is betting that we'll have a claim, the other is betting that we won't and the insurance industry worked out the odds a long, long time ago, so we're betting against the house.

It is more than that, they are betting only 1 out of every 5000 insured (no idea what the real breakdown is, but no doubt it is worse than that) will have a claim, so the odds are stacked way against the consumer.

 

[highfigh]

The principle of insurance is the share of risks among the insured group. If you live in a community where there are lots of auto thefts and collisions, you will be charged more than the man who lives in a quiet remote country place with a low casualty and crime rate.

You however can shop with several insurance companies and you may get a better rate from another insurance provider.

And the turds who are doing this shyte feel nothing from it. Well, unless they crash. They're too stupid to consider the damage they do.

I'm in a suburb (barely) of Milwaukee and the Zip Code is shared- if I was out of this code, my premiums would be much lower.

Personally, I think all of the areas surrounding Milwaukee should find a way to sue the city for the damage the idiots do because the city has done damn near nothing to solve the problems. To make it worse, the last Mayor just left to be the US ambassador to Luxembourg and the acting Mayor, who is one of the two candidates in the April 5th election has said that he hasn't had to implement his public safety program. This is from the link- ""When you're in this position, when a mayor resigns, you get thrusted right into a snap election," Johnson said Tuesday when asked about homicides during a meeting of the Rotary Club of Milwaukee. "So you've got to spend time governing the city, but you also have to campaign for the office." ".

If he had done his damn job effectively, he wouldn't have to campaign much, if at all. So far this year, homicides in MKE are up 100% and last year set a record for homicides and car theft.

 

[highfigh]

My friend has a BMW and he had bought whatever tracking system they offer. His car got stolen in LA and they found it within 45 min, with the perps still inside!!



Yep, it was a Lexus.

It happens. I used to drive an '81 Olds Cutlass and it was stolen on Christmas Eve. 45 minutes after I got home, there was a knock on the door- it was a cop who told me they had recovered my car, which I didn't know was gone.

The turd drove it home and when he got out, he kicked the metal part of the column that had to be broken out in order to start the engine without a key. When that hit the street, one of the six cops who were there for another call heard it, looked at the guy and said "Got a minute?".

 

[highfigh]

My rates were actually not bad, but the company itself did a lousy job the one time I had to file a claim. I started shopping around and found a place that gave me a much better rate.

I thought they changed the laws to say that they cannot base your rate on where you live? At least in CA they did that, but all that meant was they raised everyone's rates.

Ironically, I just got a rate refund from my previous company. 3 years after I cancelled my policy, so they must have been audited. Woohoo. Cancelled them AND got to give them the finger 3 years later.

Oh, and I saw this article this morning too: https://www.latimes.com/california/story/2022-03-28/stolen-luxury-cars-san-fernando-valley#:~:text=The California Highway Patrol has,from dealerships in Southern California.

The easy way around any restrictions WRT basing premiums on location- gouge EVERYONE's eyes out.

Part of the problem I have with insurance companies is that A) they NEVER pay out everything they collected unless some catastrophe occurs and B) they hide their profits in real estate and stupid crap like the World's Largest American flag, which is in front of Acuity Insurance's HQ. I get to drive past it whenever I go to Green Bay- I was a policyholder with that bunch until after I had a claim and was treated like a farm animal.

 

[highfigh]

It is more than that, they are betting only 1 out of every 5000 insured (no idea what the real breakdown is, but no doubt it is worse than that) will have a claim, so the odds are stacked way against the consumer.

Honestly, I would be better off going to the casino and playing the slot machines. I have only gone twice- the first time, I made my donation and the second time, I did pretty well by being patient and betting only one quarter at a time, rather than betting everything. Once I was out of $5 worth of quarters and had accumulated a bunch of credits, I cashed out and started over with another $5. I started with only about $20 and walked out with over $125, so I can safely say that "I have a system".

 

[j_garcia]

Honestly, I would be better off going to the casino and playing the slot machines. I have only gone twice- the first time, I made my donation and the second time, I did pretty well by being patient and betting only one quarter at a time, rather than betting everything. Once I was out of $5 worth of quarters and had accumulated a bunch of credits, I cashed out and started over with another $5. I started with only about $20 and walked out with over $125, so I can safely say that "I have a system".

At Vegas, I would drop one quarter in one of the machines where we went up to our room each night. I hit $50 on one of the tries. I stopped there lol.

 

[mtrycrafts]

I keep getting offers from The Hartford, saying that I can save hundreds on my auto policy, but they don't even write for cargo vans. WTF?

Yep, that may fall under commercial insurance. Not sure who would insure commercial vehicles.

 

[mtrycrafts]

If you don't like insurance companies sell your car and ride the bus.

Or, just ride Uber.

 

[Replicant 7]

If you don't like insurance companies sell your car and ride the bus.

Or he could do, a statement of non-use online through the DMV where he lives. That way, you don't have to turn in the license plate and the vehicle stays registered to the state he lives in. And only drive when it's very late at night or in the wee hours of the morning. All the cops are at the local 24/7 restaurants drinking coffee, eating donuts.

 

[Verdinut]

Yep, that may fall under commercial insurance. Not sure who would insure commercial vehicles.

Most likely a bigger insurance company. Otherwise, large corporations don't insure their vehicles. For example, a large city does not insure its buses with an insurance company, as it would cost more than self-insuring. However, they probably get only liability protection insurance.

 

[Replicant 7]

Most likely a bigger insurance company. Otherwise, large corporations don't insure their vehicles. For example, a large city does not insure its buses with an insurance company, as it would cost more than self-insuring. However, they probably get only liability protection insurance.

Insurance companies, don't give a rats a$$ about anyone. They are a for profit industry.

 

[lovinthehd]

Never been a particular fan of insurance companies...they're not particular fans of mine...but have their place/use. Do you have an option of a bond on file if you want to take more risk yourself?

 

[Verdinut]

Insurance companies, don't give a rats a$$ about anyone. They are a for profit industry.

Any business to survive has to make profits. How would insurance companies exist otherwise?

 

[mtrycrafts]

Any business to survive has to make profits. How would insurance companies exist otherwise?

Less profits?

 

[SithZedi]

Property and Casualty Insurance companies are lucky to get a 10% return on equity. Meanwhile, law firms who are the main leeches on Liability claims average 25% ROE. They are more of the problem than the insurance companies.

Unfortunately, economic times are driving up the crime rate and premiums will rise. Am in the process of renewing my auto insurance. They are increasing the premium on my two year old Tacoma because its replacement value is higher now due to inflation. Also, they know since new Tacomas are on back order, they would have to pay for a rental for a much longer period.

Liability risk is going up because of higher awards by judges and juries. Slip and fall lawyers getting 30% of awards.

It all sucks but rates are going to continue to go up for Auto and Home owners due to inflation. If the cost to rebuild value of your house was 500k two years ago, its probably 600k now due to price increases in lumber, etc. Make sure you check that when you renew your home owners policies.

Also, in my area, thieves are stealing catalytic converters like crazy. That's a 2k claim right there. Yes it sucks.

 

[Verdinut]

Less profits?

I wouldn't tell as I didn't have access to insurance company's financial reports except for two life insurance companies. I worked for life insurance companies but not in the general insurance business. I am a retired Fellow of the Life Management Institute (LOMA), a worldwide association of life insurance companies.

However, two Canadian life insurance companies went bankrupt in the 1970-80's, but I never worked for either of those.