Affordable Care Act
- Thread starter 57Brave
- Start date
goldfly
<B>if my thought dreams could be seen</B>
zitothebrave
Connoisseur of Minors
All insurance is a racket that just continues to lead to higher prices. As cars have gotten much much cheaper to build, we haven't seen the same level of tail off that should be expected.
This leads me to a serious economical question that needs to be asked, but as someone who's primarily benefitted from Reaganomics, I probably shouldn't ask it too loudly.
Tapate50
Well-known member
Then why are they more expensive to buy ? And how is that an insurance companies fault ?
zitothebrave
Connoisseur of Minors
Artificial cost inflation. Though it's not on the scale on the car side that it is on the medical side, the added buyer of insurance allows prices to go up just a bit. Then there's also the issue of why insure something that's not worth that much? Most states have mandatory car insurance so the national scale is affected by that.
And similar to Obamacare, instead of dropping off the **** drivers, cause of states mandatory insurance coverage, you're paying for joe terrible who's been in 10 car accidents.
Tapate50
Well-known member
Well there isn't one carrier using national loss ratio so the last comment is out of LF.
They get their own ratios because different carriers target different segments of the populations. They offer prices according to losses, credit rating, and MVR. The more activity on those three, the more that customer pays. Not everyone else.
In Ga there is a law that requires state min liability limits, an then a line of coverage to make up the difference if the driver that strikes you doesn't carry it. Double whammy.
You can also choose to carry liability only so why would the cost new affect everyone's premiums? Artificially or otherwise? No one requires you to cover the vehicle except the lienholder.
I don't think you have a clue as to what you are talking about. Insurance is not driving up car prices.
Oklahomahawk
Boras' Client
And the fact that most major insurance company CEOs make $20Million + every year. I'm sure that allocation (which you KNOW starts at the beginning of their bookkeeping process) has nothing to do with their decisions on how much to charge. Plus that damn gecko is SOOOOO annoying, I actually liked the cavemen, but the gecko sucks.
VOLracious
Arizona Fall Leaguer
Inquiring minds would like to know how insurance is a scam, cars are cheaper to build now and how insurance leads to higher prices. Do you have any idea how much cost is built into a car because of cafe standards. Govt regulation has much more to with cost than insurance. Hawk, I would like to hear some of your stories.
Would be a great day if we could get the great libertarian iron pyrite to recognize the scam of big gubment!
Would be a great day if we could get the great libertarian iron pyrite to recognize the scam of big gubment!
zitothebrave
Connoisseur of Minors
If there's a buyer out there, who's potentially driving up costs of replacement, either through the ability to be scalped pretty easy (insurance companies in my experience are like the government, they'd rather buy from someone they know than shop around) or it does create more of a buyer scarcity.
THey have different ways of doing it, but some states have mandatory insurance, an insurance company cannot refuse insurance and IIRC in some states there's like max fees based on coverage too, the latter I'm less sure about. I think Iread that somewhere but I could be remembering that incorrectly.
Riddle me this tapate, I know the answer but lets see if you do. I moved from NJ to NH, I have the exact same coverage with the exact same company, why is my insurance so much cheaper in NH than NJ?
Tapate50
Well-known member
I
Because they have factors based on where you live and operate the vehicle. Same reason I can move to Atlanta and my coverage is more expensive. Basically if I drive in downtown Atl every day, I'm more likely to hit someone or vice versa than say rural farm country.
Very little of what you posted in response to me was based in any truth. Sorry. The assigned risk pool is for commercial customers in Ga, not personal auto. There are companies out there pricing folks with DUIs and reckless driving but you gotta pay for it... Progressive, Geico, etc... But standard companies won't accept that type of business, and their prices are much lower.
Because they have factors based on where you live and operate the vehicle. Same reason I can move to Atlanta and my coverage is more expensive. Basically if I drive in downtown Atl every day, I'm more likely to hit someone or vice versa than say rural farm country.
Very little of what you posted in response to me was based in any truth. Sorry. The assigned risk pool is for commercial customers in Ga, not personal auto. There are companies out there pricing folks with DUIs and reckless driving but you gotta pay for it... Progressive, Geico, etc... But standard companies won't accept that type of business, and their prices are much lower.
zitothebrave
Connoisseur of Minors
No there are states that require companies to offer someone insurance regardless of how bad they are. It is state to state, so Georgia may not be one of those. IIRC NJ is a state with assigned risk for personal drivers. Been awhile since I"ve paid attention to car insurance, it's a racket but a necessary evil type of racket. Wonder when we'll start seeing extended warranties bundled into car insurance, that has to be coming right?
Tapate50
Well-known member
Wouldn't think so. Not sure companies want any part of insuring against ****ty workmanship.
zitothebrave
Connoisseur of Minors
Well I'm thinking you have special shops that specially Geico certified or whatever and you have to go there for repairs. I'm not sure they'll do it cause it's probably cost prohibitive that not enough people will sign up for it. Just wondering if that's next.
Tapate50
Well-known member
Progressive already has "blue ribbon" service centers. All that means is the shop gives them a deal on labor and parts in return for the referral I think. They do have more warranty on parts if you use them I think. Doesn't cost anything or raise the rate though.
And you don't ever have to use a shop they recommend, ever. You can use any shop you want as long as their labor rate is somewhere in the acceptible range ...
Tapate50
Well-known member
Not surprising. Those carriers are referred to as "non standard" auto carriers because they will take anyone. they don't have the best practices and coverage is thin . Standard carriers are the way to go unless you don't have any other options bc of driving record.
Tapate50
Well-known member
interesting take.
Requiring people to carry liability is actually a great idea. Let's say someone plows into you and hurts you very badly. $55,000 total claim ( 25 for the car, 30 for bills) How many drivers have this laying around without going bankrupt to fix your car and med bills?
I'd wager very few. They would file bankruptcy and you wouldn't see a dime. It would be you out that sum...for you that may not make a dent but most it would be crippling.
57Brave
Well-known member
And the above is why some peoples HC policies cost more after ACA.
It put in place , for the first time, a system of standardizing HC packages .
Among other things
I don't get how people don't get that.
I get why just not how