Insurance

[Unholy707]

Basically they got a ton of claims all at once and ran out of money due to poor management over the years

 

[Unholy707]

So they recuperate it by jacking up everyone’s rates

 

[Unholy707]

I think it’s mismanaged, enough so that they have to raise rates across the nation to recoup it. Can’t just be from sustained payouts

 

[B5Cat16]

I use Hagerty on all 5 cars.

 

[1971demon]

Basically they got a ton of claims all at once and ran out of money due to poor management over the years

I'm not sure I'm following you...what segment of the insurance industry are you referring to...the commercial side...residential..or auto???....and in either ...when there are more claims (total payout)..them premiums assessed....it's going to result in increased rates...not sure about any specifics of this miss management you elude to...now in the event of say a weather created catastrophe...or a natural disaster in a geographic area...(where the loss is in the billions)...regardless of what carrier writes the policy..they all share a financial proportion of the loss

 

[1971demon]

I think it’s mismanaged, enough so that they have to raise rates across the nation to recoup it. Can’t just be from sustained payouts

why not

 

[1971demon]

I would definitely shop around. You may be surprised how much you can save.

I would agree....My agent is a long time personal friend of mine..his agency is sizeable ...and has access to numerous personal lines as well as commercial...he handles all my commercial as well as personal policies...I've never asked him to inquire about the specialty markets for my cars and bikes...(my fault)...most agents (or brokers)..work on a percentage of paid premiums..generally 15/20%...not that he doesn't have my best interest @ heart...but the more he saves me in premiums...the less he makes...

 

[1971demon]

Nah. I don't feel like paying high insurance premiums just to subsidize those who live in flood areas, where there's lots of traffic, fire risk zones, high theft areas, where tornadoes are likely, or alligators can attack.

Yes, every state is in America, but every state is different. And by breaking it down by zip code (or however they do it) I thankfully don't have to pay south Los Angeles prices.

Not that I think all that many have insurance there.

And that's exactly what would happen...states..or regions with a low incidence of claims...would be paying MUCH more for coverage in a proportionate format...

 

[RAMBLE1]

Nah. I don't feel like paying high insurance premiums just to subsidize those who live in flood areas, where there's lots of traffic, fire risk zones, high theft areas, where tornadoes are likely, or alligators can attack.

Yes, every state is in America, but every state is different. And by breaking it down by zip code (or however they do it) I thankfully don't have to pay south Los Angeles prices.

Not that I think all that many have insurance there.

I agree with you, except the part about alligators attacking. I have never heard of alligators attacking a car or causing an accident and I have been in Florida for 19 years...

 

[1971demon]

Yep, that's why I wrote "...which is partially already in effect" above. I think 7,500 miles per year is my limit, but not even the 3500 (it gets by far the most miles on it) reaches even half of that on average.

Heck, the other day I noticed that I haven't put gas in the 1500 for over a year, kinda proving it's a long way from the 7,500 mile limit. The Challenger might very well be similar, and I need to put some Star Tron in at least those two.

Anyway, as mentioned earlier, different states means different rules and regulations. Which equals different costs.
Just like that registration costs, fuel prices, housing, and a bunch of other things vary quite a bit between different states.

Maybe it's more equal in Russia, but I don't want to find out..

Hell you probably ride a horse or some other beast of burden anytime ya wanna go anywhere...(no wonder ya don't buy any gas...or log any miles)...not to mention yer non existant energy bills...with the kerosene lamps...wood burning stove...and windmills...I'm guessin unless yer takin a trip to civilization...you two are walkin around dressed like Tarzan and Jane.....(not that there's anything wrong with that)

 

[1971demon]

I agree with you, except the part about alligators attacking. I have never heard of alligators attacking a car or causing an accident and I have been in Florida for 19 years...

I hear told..there are less than savory neighborhoods in Fla....where roving gangs of alligators regularly attack vehicles...and dine on said occupants...

 

[1971demon]

Nah. I don't feel like paying high insurance premiums just to subsidize those who live in flood areas, where there's lots of traffic, fire risk zones, high theft areas, where tornadoes are likely, or alligators can attack.

Yes, every state is in America, but every state is different. And by breaking it down by zip code (or however they do it) I thankfully don't have to pay south Los Angeles prices.

Not that I think all that many have insurance there.

And uninsured motorists are a HUGH problem...and in most states is illegal...but is sporadically enforced...it should be a felony...including confiscation of the uninsured vehicle...

 

[1971demon]

Over paid nation wide

Still not following you

 

[1971demon]

It’s at the fed level, they have to go to the feds and request a rate decrease. Some carriers already have, but the fed has to approve it. Cuts and raises. It’s making up for all the money they paid out all at once over the last few years. They screwed the selves by not managing the money well. Wouldn’t be surprised if there was a bailout like they did the banks

Some carriers requesting rate decreases....@ a time where losses outstrip premiums....that makes no sense

 

[RAMBLE1]

I hear told..there are less than savory neighborhoods in Fla....where roving gangs of alligators regularly attack vehicles...and dine on said occupants...

You're good, real good! There are a few large retention ponds in our neighborhood and occasionally, gators find their way to the ponds, but fish & game have them removed, before they attack our cars. As you may know, Hellcats are highly sought after, that's why my gate is secure and the Redeye is in a locked garage, safe from the gators!

 

[1971demon]

You're good, real good! There are a few large retention ponds in our neighborhood and occasionally, gators find their way to the ponds, but fish & game have them removed, before they attack our cars. As you may know, Hellcats are highly sought after, that's why my gate is secure and the Redeye is in a locked garage, safe from the gators!

All my cars...locked garage,,temp and humidity controlled..cameras..infared motion sensors...and alarmed to local police...the bad guys can find easier prey

 

[RAMBLE1]

And uninsured motorists are a HUGH problem...and in most states is illegal...but is sporadically enforced...it should be a felony...including confiscation of the uninsured vehicle...

So true, so very true! There are over 10 million Biden/Harris illegal aliens in our country. They steal, drive without license/insurance, are involved in numerous accidents/deaths and our uninsured coverage pays the bill. The bad thing, your insurance increases, dramatically. My insurance went up 30% in one year! The criminal illegals should be locked up with the idiots that let them in our country...

 

[RAMBLE1]

All my cars...locked garage,,temp and humidity controlled..cameras..infared motion sensors...and alarmed to local police...the bad guys can find easier prey

What no land mines???

 

[covidcommander]

300 a month now, Hagerty said 212 a month. Not much savings. Think if I lose my multi vehicle discount by switching to hagerty it's a wash

 

[Unholy707]

Yep, not much savings with anyone now