Comments on: Is there anyone who thinks that car insurance is a ripoff? http://www.thecarinsurance.net/is-there-anyone-who-thinks-that-car-insurance-is-a-ripoff.html car insurance Wed, 18 Jan 2012 20:13:58 +0000 hourly 1 http://wordpress.org/?v=3.0 By: CowboyBill http://www.thecarinsurance.net/is-there-anyone-who-thinks-that-car-insurance-is-a-ripoff.html/comment-page-1#comment-7818 CowboyBill Mon, 05 Apr 2010 14:41:32 +0000 http://www.thecarinsurance.net/is-there-anyone-who-thinks-that-car-insurance-is-a-ripoff.html#comment-7818 You get what you pay for. Just read some of the answers on this site for awhile and you will understand why rates are so high. Every other shlep out there can't wait to sue somebody or pad medical treatments for every hangnail or bent bumper that happens. It's a miracle insurance companies manage to make a profit at all considering their budgets usually burn-up 40% of the preimum dollars recieved just to combat fraud. The only people getting rich are the lawyers. They never, EVER lose money. You get what you pay for. Just read some of the answers on this site for awhile and you will understand why rates are so high. Every other shlep out there can’t wait to sue somebody or pad medical treatments for every hangnail or bent bumper that happens. It’s a miracle insurance companies manage to make a profit at all considering their budgets usually burn-up 40% of the preimum dollars recieved just to combat fraud. The only people getting rich are the lawyers. They never, EVER lose money.

]]> By: PeppermintandPopcorn http://www.thecarinsurance.net/is-there-anyone-who-thinks-that-car-insurance-is-a-ripoff.html/comment-page-1#comment-7817 PeppermintandPopcorn Mon, 05 Apr 2010 14:13:42 +0000 http://www.thecarinsurance.net/is-there-anyone-who-thinks-that-car-insurance-is-a-ripoff.html#comment-7817 No, it is not a ripoff. Its an intangible asset that makes it hard to value and put a price on it. If you have about 20,000 in the bank to pay for my damages in cause you cause an accident, then yes - its a ripoff. But most people do not have money in their bank. Next, any information in driving history (all accidents, claims or violations) also predict that something else might happen. Based on her age and risk that something would happen, the insurance company did not want to insure her. Think it sucks? You're department of insurance actually said that was okay. No, it is not a ripoff. Its an intangible asset that makes it hard to value and put a price on it.

If you have about 20,000 in the bank to pay for my damages in cause you cause an accident, then yes – its a ripoff. But most people do not have money in their bank.

Next, any information in driving history (all accidents, claims or violations) also predict that something else might happen. Based on her age and risk that something would happen, the insurance company did not want to insure her. Think it sucks? You’re department of insurance actually said that was okay.

]]> By: Chris http://www.thecarinsurance.net/is-there-anyone-who-thinks-that-car-insurance-is-a-ripoff.html/comment-page-1#comment-7816 Chris Mon, 05 Apr 2010 13:49:25 +0000 http://www.thecarinsurance.net/is-there-anyone-who-thinks-that-car-insurance-is-a-ripoff.html#comment-7816 With anything intangible it's hard to understand why we have to pay and get nothing. You should be hopeful that you never have to use it. Insurance is one of those things that you pay to NOT have to use. And it's not just about you; you realize that, right? Insurance is a pool of money that all premiums go into and that money is used for other's claims. That's why premiums are so high, because of the cost to handle those policies and claims and the fact that people inflate their injuries and damages and commit fraud. If not for that happening at such a high rate, the rates would be lower and we wouldn't have anything to complain about. So thank those you know who got more than they deserved for making your rates high for something you haven't really needed to use. With anything intangible it’s hard to understand why we have to pay and get nothing. You should be hopeful that you never have to use it. Insurance is one of those things that you pay to NOT have to use. And it’s not just about you; you realize that, right? Insurance is a pool of money that all premiums go into and that money is used for other’s claims. That’s why premiums are so high, because of the cost to handle those policies and claims and the fact that people inflate their injuries and damages and commit fraud. If not for that happening at such a high rate, the rates would be lower and we wouldn’t have anything to complain about. So thank those you know who got more than they deserved for making your rates high for something you haven’t really needed to use.

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