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Insurance Companies **** Big Scam ****

Any statistical data to prove that they're making all these huge profits?

Guess what, insurance companies hire actuaries who do nothing BUT gather statistical data to come up with the rates that they charge to provide coverage for your property.

Right now is actually the hardest insurance market that California has ever seen with companies losing their financial ratings, going bankrupt, or both. It's not just the insurance scams that cause rates to go up, but of course they're a huge contributing factor.

Anyways, like someone said...if you are fed up with insurance companies, don't get insurance. Get liability only for your vehicles or self insure, but don't cry when there's no financial institution there to bail you out when you make a driving error.
 
It's easy to bitch about insurance until you need it, and when it pays off, you thank your lucky stars it's there. A cager backed into and totalled my bike last October. I had to take her insurance company (Mercury Insurance) to court to sue for the proper amount of restitution, as they tried sticking it to me with a severe lowball settlement. I said to the guy on the phone "You're not a judge- see you in court." I won. It was nice getting that check. If I could go back in time, it would be easier to have avoided the whole thing. But I was made somewhat whole again by the insurance company. They are in a tough business. My old roommate works for State Farm, and I heard stories about claims for a runaway lawnmower that hit a Corvette parked in a driveway, a wrongful impregnation case for a person's pet goose (no shit) by someone else's pet goose, among others. Our premiums would be lower if we stuck together and kept our eyes open for the lowlife scumbag cocksucking bike thieves and got a few of them thrown in jail where they belong. And filing "exaggerated" damage claims hurts us all. 20 years ago, I saw the lead mechanic talking to a customer who "really wanted a new bike" rather than having the old one fixed. The mechanic took a rather large hammer and made sure that the bike was totalled. I'm sure it happens everyday.
 
insurance is like safety,peace-of-mind oriented gambling. You put your money into the big machine in the ammounts they ask for, and should something unfortunate happen you "win" the ability to get back to some level of normalcy with minimal financial pain.

don't like the game? don't play it. Don't bitch about the results if you never needed the insurance, you knew what you were getting into.
 
budbandit [/i][B] Third said:
A cager backed into and totalled my bike last October. I had to take her insurance company (Mercury Insurance) to court to sue for the proper amount of restitution, as they tried sticking it to me with a severe lowball settlement.
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I don't follow why you're grateful that she had insurance (I take it you didn't have collision/comprehensive insurance on your ride).

After all, you could've taken her to court for damages, right? Insurance or no. Hell, AFAIK you can be taken to court for civil damages even if you do have insurance... and for more than they will cover.


---


My own observations on (auto) insurance:

1. Mandatory insurance requirements can only drive the price up, when normally prices should go down as customers increase in a market (economies of scale). Why? Because we HAVE TO HAVE IT... and they know it :)

2. Uninsured motorist is a beautiful money maker-- just like "insurance" against a 21 in blackjack. The premium is charged for what is usually a hit and run situation. Almost like free cash in the hand...

3. In this weird day of hyper PC egalitarianism, the auto insurance industry is one of the few places where sexism and other forms of discrimination are allowed because of statistical analysis. Perhaps they need to be more honest and start applying this to all facets of life-- age (shoot, already do that!), sex (ditto), race (not officially, but why not?)...

"Ok, here is your value meal, but since you are Male, and of Latino descent, we will have to charge you a Robbery Insurance fee..."

4. Although I actually agree with the use of statistical analysis (with all the good and bad), what I dispise insurance companies for is playing both sides of the coin: first they charge you for expected rate of all similar drivers, then they charge you MORE on an individual basis.

Wait... how can they charge me up front for the statistical average, and then RAISE my rate for making a claim? When I throw down my $2600 a year for my R1, I'm already paying for the sins of all my other idiot R1 riders :twofinger

So by what justification do they raise rates? Their upfront premium is saying "this is how much we need from each GYCSZBXFR-998RRRRR rider to make a profit, according to our statistical records and predictions."

Bah. Stereotype me, or treat me individually, not both! :mad

5. Insurance companies will stoop to damned near any level to have a legally justifiable way to raise your rate, including but not limited to paying (hey! my premiums!) for police departments to have more/newer radar detectors. Nice little investment they make there :)

6. Legalism: They don't just care about fraud, but they will attempt everything possible to deny a claim through loopholes, or tack on additional fees whereever possible. They're damned near like banks it seems like...
Example: I have two auto policies, one for three bikes and one for a pickup truck. I pay four separate liability premiums for each. Both policies are "NAMED DRIVER" only... so they only cover liability for myself.

How the fuck do I ride two motorcycles at the same time?
 
Some insurance companies do give out "good driver" discounts, upon renewal, for drivers who have had no riding incidents/claims within a year's time. You have to request it though. They do not do it automatically.

But yeah, in general, we have high insurance rates because of the nature and risk of riding.



:teeth
 
Morthrane,
[QUOTE
I don't follow why you're grateful that she had insurance (I take it you didn't have collision/comprehensive insurance on your ride). QUOTE]

This lady happens to be collecting welfare and does not have a pot to piss in. But she did have a pickup truck full of haybales blocking her rearward view and she did run my bike over after I had to bail off. Winning in civil court is great, but collecting is another matter entirely. My bike was 13 years old and it didn't make any sense to insure it for collision.
 
Well boys and girls........ that's WHY I Bitch......... because I CAN, and YOU CAN'T and Don't want to.

Avoiding the FACT of THE matter that INSURANCE COMPANIES TAKE YOUR $$$.....Bitch about it or not. It's your $$$.

Hey........... FREEDOM of SPEECH.
 
Yeah, but mine_ghames, you don't really seem to have much to say.

Why are you complaining about the cost of insurance, but not the cost of gas, tires, registration, leathers, boots, gloves, servicing, oil filters, income tax, property tax, the cost of a loaf of bread?

:confused

You seem to think you're bing ripped off, but if you read what's been posted here there are plenty of alternatives for you.

I can bitch too and right now I'm bitching about your bitching, so quit bitching, bitch :twofinger
 
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ALANRIDER7 said:
This lady happens to be collecting welfare and does not have a pot to piss in. But she did have a pickup truck full of haybales blocking her rearward view and she did run my bike over after I had to bail off. Winning in civil court is great, but collecting is another matter entirely. My bike was 13 years old and it didn't make any sense to insure it for collision.
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Heh... insuring an old bike for comp/coll is great, cause its usually the cost of an oil change, if that. :D
 
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