Insurance is a scam in itself. Insurance companies have a captive audience in that we are required by law to carry insurance (so their revenue stream is guaranteed) and they collect premium for years or decades for some drivers without every having to pay out one penny for some but, let that poor man or woman file one damn claim and they can effectively rape you financially. THAT should be illegal. In fact, I would like to see a law wherein if you have never filed a claim in 10 years, you get an automatic, law enforced 25% discount, Fifteen years without a claim – 30%, twenty years = 50% reduction.
Car insurance is one of the few products sold that penalizes a person for using it. Imagine buying a TV and telling people they will get a bill later if they turn it on. By-the-way, not turning in a claim after an accident could expose the insured to no coverage later should they be sued so, unfortunately, it is better to pay a higher premium later than risk no coverage. It is no wonder insurance companies are not held in high regard.
Curious if the two gentlemen who posted prior would go without insurance if not required by law? Is it more a distain for the insurance companies or the product itself?
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Insurance is a scam in itself. Insurance companies have a captive audience in that we are required by law to carry insurance (so their revenue stream is guaranteed) and they collect premium for years or decades for some drivers without every having to pay out one penny for some but, let that poor man or woman file one damn claim and they can effectively rape you financially. THAT should be illegal. In fact, I would like to see a law wherein if you have never filed a claim in 10 years, you get an automatic, law enforced 25% discount, Fifteen years without a claim – 30%, twenty years = 50% reduction.
Car insurance is one of the few products sold that penalizes a person for using it. Imagine buying a TV and telling people they will get a bill later if they turn it on. By-the-way, not turning in a claim after an accident could expose the insured to no coverage later should they be sued so, unfortunately, it is better to pay a higher premium later than risk no coverage. It is no wonder insurance companies are not held in high regard.
Curious if the two gentlemen who posted prior would go without insurance if not required by law? Is it more a distain for the insurance companies or the product itself?