Insurance companies?

[snow2]

Renewed my homeowners and vehicle policies, slight increase like every year but suspect we all will be on the elevator bigtime now afterthis cali tragedy, will this bankrupt the insurance industry? Gotta be a breaking point where we no longer can afford insurance

 

[MSA]

Front end parts on cars have trippled since covid and the union strikes. A lot of insurance companies got hit hard and ran in the red for at least a few years. Auto insurance will be going up again, and keep going up until they figure out how to price auto coverage differently.

The problem I see, is I pay the same on full coverage for my older F-150 as a guy with a fancy BMW of a similar year. My F-150's headlights are 250$, bumper 300$, fenders 300$ etc....but, for just 1 headlamp in that BMW it's 7,500$.

Insurance companies need to base policy prices on the cost of commonly replaced parts of the vehicles instead of just a generic amount based on the driver's risk factor.

 

[Wall-eyes]

The world is mess cant blame those fixing or selling damn last president did not help.

 

[snow2]

I ended up increasing my deductible on my vehicles and liability only as i drive only 3500miles annually on my economy 2004 honda and basically store my newer truck all winter after hunting season,ice fishing trips I tagged along with the young guyz,we seniors know things like fish hot spots from years past still holding fish.

 

[Obi-Wan]

Renewed my homeowners and vehicle policies, slight increase like every year but suspect we all will be on the elevator bigtime now afterthis cali tragedy, will this bankrupt the insurance industry? Gotta be a breaking point where we no longer can afford insurance

we are near that now and it is not just homeowners insurance. a

 

[riverview]

honestly i have paid into insurance for 42 years and never really used it, hindsight i would of been better off self-insuring. my only big claim was a hail storm and american family canceled my house ins. i can see people without loans start carrying liability ins only.

 

[Skeeter]

My home owners is going up almost 40 percent.

 

[snow2]

My home owners is going up almost 40 percent.

Yikes! That would be a deal breaker for meas my house in mn is pd for,ive seriously thought about canceling my home owners recently and roll the dice.

 

[johnr]

Yikes! That would be a deal breaker for me as my house in MN is pd for, I've seriously thought about canceling my home owners recently and roll the dice.

Put a high deductible on it, but I sure wouldn't be completely out of the cover your ass situation. Unless you have been holding out, and are quite rich.

 

[snow2]

Put a high deductible on it, but I sure wouldn't be completely out of the cover your ass situation. Unless you have been holding out, and are quite rich.

Not rich,no family not much over head like taxes nothing to show for my investment of $1000's with major insurance increases looming.

Hopeful Trump willnix our senior ss tax and real estate tax he talked about.time will tell

 

[Obi-Wan]

My home owners is going up almost 40 percent.

That’s because the county assed your home and says it is worth that much more

 

[Wall-eyes]

That’s because the county assed your home and says it is worth that much more

Bingo same shit happen to me fuZking aZZholes.

 

[rodcontrol]

That’s because the county assed your home and says it is worth that much more

The insurance company doesn't get information from the county assessments. If you have a replacement cost type policy your insurance went up because its trying to match what it would cost to rebuild your home based off of your square footage. Insurance rates have went up to stay in line with the price of goods. Labor rates and material rates go up, so does the cost of the insurance.

 

[Shockwave]

I will be glad to have insurance if I ever need it, but I've never filed a claim and paid a lot of money in so right now it's the biggest scam, ever. I've never been dropped by insurance or told that they won't insure me, but the fact that this does happen is utter crap. If it's the law that people need insurance than it should be the law the insurance companies have to insure people.

 

[johnr]

I will be glad to have insurance if I ever need it, but I've never filed a claim and paid a lot of money in so right now it's the biggest scam, ever. I've never been dropped by insurance or told that they won't insure me, but the fact that this does happen is utter crap. If it's the law that people need insurance than it should be the law the insurance companies have to insure people.

Thank goodness that isn't the law, because the chronic DUI mother fucker who seems to think its funny to drink and drive shouldn't be getting coverage to and allowed to drive, and me and you paying the higher rates to insure this POS.

Same with life insurance. The fit and healthy should not have to cover the expense of the fat and unhealthy.

Insurance is to mitigate risk, and spread it around to like classes.

 

[Shockwave]

Thank goodness that isn't the law, because the chronic DUI mother fucker who seems to think its funny to drink and drive shouldn't be getting coverage to and allowed to drive, and me and you paying the higher rates to insure this POS.

Same with life insurance. The fit and healthy should not have to cover the expense of the fat and unhealthy.

Insurance is to mitigate risk, and spread it around to like classes.

I get your coming from. A guy with a bunch if DUI's probably doesn't have a license anyway and therefore can't drive and doesn't need insurance.

Is against the law to not have life insurance?

 

[johnr]

I get your coming from. A guy with a bunch if DUI's probably doesn't have a license anyway and therefore can't drive and doesn't need insurance.

Is against the law to not have life insurance?

No

Driving is considered a privilege not a right, so they can force that, and that I can agree with, since it effects us all when some POS wrecks his buggy, and in the process wrecks someone elses stuff too.

Had a buddy with a really nice Harley, and lots of fun toys too, wreck his bike. Then they had a spaghetti feed to raise money for his huge medical bills, as he was to busy buying toys to actually pay for medical insurance. Didn't go to the feed, as I feel he should've taken care of himself like an adult.

 

[Fester]

Front end parts on cars have trippled since covid and the union strikes. A lot of insurance companies got hit hard and ran in the red for at least a few years. Auto insurance will be going up again, and keep going up until they figure out how to price auto coverage differently.

The problem I see, is I pay the same on full coverage for my older F-150 as a guy with a fancy BMW of a similar year. My F-150's headlights are 250$, bumper 300$, fenders 300$ etc....but, for just 1 headlamp in that BMW it's 7,500$.

Insurance companies need to base policy prices on the cost of commonly replaced parts of the vehicles instead of just a generic amount based on the driver's risk factor.

Wrong...higher risk higher rates...i have both an f150 and a beamer..21 beamer is significantly higher then my 20 F150. Insurance have sonething called under writers that take all of what you posted into considerarion including how the vehicles are used.

 

[1lessdog]

No

Driving is considered a privilege not a right, so they can force that, and that I can agree with, since it effects us all when some POS wrecks his buggy, and in the process wrecks someone elses stuff too.

Had a buddy with a really nice Harley, and lots of fun toys too, wreck his bike. Then they had a spaghetti feed to raise money for his huge medical bills, as he was to busy buying toys to actually pay for medical insurance. Didn't go to the feed, as I feel he should've taken care of himself like an adult.

I worked with a guy that donated a kidney to his wife. He told us that the American Kidney Fondation was giving him $10,000. Then the fire dept had a spaghetti feed to raise money for lost wages. Even though work paid him for his recovery. Two weeks after the spaghetti feed he had a brand new Ford Superduty.

 

[Obi-Wan]

Thank goodness that isn't the law, because the chronic DUI mother fucker who seems to think its funny to drink and drive shouldn't be getting coverage to and allowed to drive, and me and you paying the higher rates to insure this POS.

Same with life insurance. The fit and healthy should not have to cover the expense of the fat and unhealthy.

Insurance is to mitigate risk, and spread it around to like classes.

Why do insurance companies use credit scores as a factor in determining rates ? How does one’s credit score forcast their driving ability ?