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re: Why does AUTO-INSURANCE discriminate?????
Posted on 5/13/19 at 11:15 pm to Charlie Arglist
Posted on 5/13/19 at 11:15 pm to Charlie Arglist
Bitching about discounted rating factors is funny.
Yes. Homeowner, marriage, credit, etc.. are discounted rating factors.
Just like credit is a discounted rating factor for mortgages and car loans.
Do you want to know what life was like before these? The average rates (insurance and interest) were all significantly higher. Removing the underwriting removes the variables which make someone 20-500% a better risk.
I swear. People can't be grateful for advancements which actually benefit society. If you personally aren't getting the 100% best underwriting, you feel like watching the world burn. Such sound logic.
Yes. Homeowner, marriage, credit, etc.. are discounted rating factors.
Just like credit is a discounted rating factor for mortgages and car loans.
Do you want to know what life was like before these? The average rates (insurance and interest) were all significantly higher. Removing the underwriting removes the variables which make someone 20-500% a better risk.
I swear. People can't be grateful for advancements which actually benefit society. If you personally aren't getting the 100% best underwriting, you feel like watching the world burn. Such sound logic.
0
Posted on 5/13/19 at 11:20 pm to Charlie Arglist
Here is the reason you’re raped on auto insurance rates:
And the reason you’re eye-raped by the billboards.
quote:
Louisiana’s $50,000 civil jury trial threshold was created as a bonanza for lawyers. The next highest threshold IN ALL OF AMERICA is $15,000 and 36 states have a $0 jury trial threshold.
And the reason you’re eye-raped by the billboards.
Posted on 5/13/19 at 11:56 pm to Charlie Arglist
Douglas Heller has a BA in Political Science /Masters in Public Administration and has zero/nada/zilch background in actuarial science or underwriting. He speaks with absolutely no authority on insurance pricing other than from a consumer advocacy perspective. His whole schtick is “it’s not fair.” Look him up, he’s a SoCal social justice liberal trying to push for questionable changes in business practices and legislation that fits his agenda.
This post was edited on 5/14/19 at 10:06 pm
Posted on 5/14/19 at 5:12 am to Charlie Arglist
quote:
Is that why they agreed to an 8% rate reduction 2 months ago?
You dummy... you think they just cut 8% off the top for everyone? They also didn’t “agree” with anyone to do anything. They cut a little here and there where it made sense. The insurance commissioner didn’t call them and say... “ hey, we need to cut a deal”
If they cut 8% off the top for everyone then their book of business in LA would implode on itself. Some people saved, some people got charged more.
You read like a trial attorney.... did he tell you that LA has a 50k jury threshold and the next closest in the country is 15k? With like 36 states having 0?
This post was edited on 5/14/19 at 5:16 am
Posted on 5/14/19 at 5:52 am to Charlie Arglist
quote:
Why does AUTO-INSURANCE discriminate?????
Bc a lot of people are a shitty risk
Posted on 5/14/19 at 6:11 am to Charlie Arglist
quote:
ALL auto insurance companies in Louisiana made a 7.5% profit last year.
Did that profit come from premiums, or as was mentioned earlier, did it come from investments in the "Trump economy"?
Posted on 5/14/19 at 6:29 am to Charlie Arglist
Charlie has a shitty credit score. Lol
Posted on 5/14/19 at 6:30 am to Charlie Arglist
quote:
Why are we being judged BEFORE we have a crash that may never happen?
Because it makes business sense.
If you were driving and saw a sweet young thing on the side of the road with a flat tire you would stop and help her.
What if it was a big dude with tatoos and a ball head, would you stop?
GEICO stands for Government Employees Insurance Company. Many years ago Geico had much lower rates because it only insured government workers and professionals. They were profitable. Then they hired a new CEO who took the company in a different direction and started ensuring the general public at the same premium rate. Within a couple years we received a notice, GEICO was in bankruptcy and our premiums would be going up.
When I bought my first automobile, in the 60's, State Farm refused to insure me because I was under twenty-five with no ownership record. I have never considered State Farm since. They are free to make their business model. I'm free to make my choice.
Posted on 5/14/19 at 6:31 am to Charlie Arglist
quote:
ALL of them or just some of them...mostly those that advertise and whore themselves out to a certain demographic?
This is pretty obvious when the bus bench signs and billboards for these are mostly on the south side.
Posted on 5/14/19 at 7:03 am to Charlie Arglist
quote:
If you aren't willing to watch it, then please don't complain about lawyers being the problem for your insurance rates. Very simple.
Don’t blame those driving up costs because insurance companies are not distributing their cost recovery based purely on driving record? 
Posted on 5/14/19 at 7:20 am to Charlie Arglist
First of all, you look like an idiot with the capitalization spasms you insist on doing in every post.
Insurance companies are private companies in which you choose to transfer the risk of liability and property damage to them for a fee. They then invest those premiums. Most insurance companies set their Adjusted Operating Profit to lose money on auto insurance, but recoup on the investment side.
Additionally, it takes roughly 1-2 years to actually recoup money on an auto policy, due to policy issuance, acquisition, and underwriting costs. You want to know what happens to people like you, who are constantly shopping for cheap minimum insurance to save a buck? The score models will effectively price you out of the market, because most companies don’t want to insure someone who is going to leave to save 2 bucks a month before their first renewal even occurs.
Insurance companies are private companies in which you choose to transfer the risk of liability and property damage to them for a fee. They then invest those premiums. Most insurance companies set their Adjusted Operating Profit to lose money on auto insurance, but recoup on the investment side.
Additionally, it takes roughly 1-2 years to actually recoup money on an auto policy, due to policy issuance, acquisition, and underwriting costs. You want to know what happens to people like you, who are constantly shopping for cheap minimum insurance to save a buck? The score models will effectively price you out of the market, because most companies don’t want to insure someone who is going to leave to save 2 bucks a month before their first renewal even occurs.
Posted on 5/14/19 at 7:23 am to HarveyBanger
quote:
Insurance companies, at least the profitable ones, have underwriting down to as close as an exact science as possible.
Maybe in commercial. But auto personal lines? Not a chance.
Posted on 5/14/19 at 7:35 am to Charlie Arglist
Do you smoke? If so why does your health insurance discriminate against smokers.
If you have certain diseases, why do you pay more for life insurance.
If you buy a house along the coast, why do you pay more for home owners insurance.
This is all about risk. It is almost no different than a bookie laying odds that a team is going to win.
If you have certain diseases, why do you pay more for life insurance.
If you buy a house along the coast, why do you pay more for home owners insurance.
This is all about risk. It is almost no different than a bookie laying odds that a team is going to win.
Posted on 5/14/19 at 7:36 am to Charlie Arglist
as long as it discriminates against bad drivers..
Posted on 5/14/19 at 10:52 am to MorbidTheClown
people with bad credit have a tendency to file more claims and that's a fact. that is the reason it is underwritten as such. Lots of homeowners companies are using credit tiering as well in rates.
Posted on 5/14/19 at 11:03 am to Charlie Arglist
quote:
Apples and Oranges....we all know that younger people have fewer health problems than old people. That is just nature. Before you say..."well, you are using statistics", consider that a younger person can have a PERFECT driving record....just like and older person. Two different things.
And an older person can be healthier than a younger.
You literally might be the worst debater on this entire site. And that's saying something. All of your reasoning is horrible, off base, and when you're called to task, you deny and become a hypocrite.
I'm embarrassed for you, reading your posts. Leave the explaining of your argument to the intellectual people like boosie, and watch from the sideline. I'm trying to do you a favor.
Posted on 5/14/19 at 11:07 am to HarveyBanger
quote:
Insurance companies, at least the profitable ones, have underwriting down to as close as an exact science as possible. Everything should be taken into account when rating because whether you believe it or not it affects the risk they are willing to take.
So the actuaries are to blame, is what you’re getting at?
Posted on 5/14/19 at 11:12 am to Charlie Arglist
quote:
Why is it that the lobbyist for the insurance industry ADMITS that NOTHING will lower insurance rates......NOTHING...?
What in the stupid frick are you talking about. I know the biggest insurance lobbyist this state has. He admits no such thing. But does admit real change will take time. There are no immediate light switch. You need to remove your attorneys cock out of your arse bro.
Posted on 5/14/19 at 1:10 pm to Charlie Arglist
quote:
If you aren't willing to watch it, then please don't complain about lawyers being the problem for your insurance rates. Very simple.
If you aren’t willing to summarize it so I don’t watch the same regurgitated bs every time an ambulance chaser tries to defend the lawsuit happy culture in Louisiana, then expect to hear me complain about lawyers being part of the problem with my insurance rates. Very simple.
Posted on 5/14/19 at 3:09 pm to Charlie Arglist
Wow, surprised to see so many people go to bat for insurance companies, like they aren't raping us. One of the the biggest excuses they give for our astronomical premiums is an excessive amount of uninsured motorists in La.
Well you don't cover that in a basic policy anway? So why does my basic policy go up and why am I paying for a separate uninsured motorist policy.
The whole thing is a scam and the insurance lobbyists have the politicians in their pocket. I have paid tens of thousands of dollars in insurance premiums and have never filed a claim.
Well you don't cover that in a basic policy anway? So why does my basic policy go up and why am I paying for a separate uninsured motorist policy.
The whole thing is a scam and the insurance lobbyists have the politicians in their pocket. I have paid tens of thousands of dollars in insurance premiums and have never filed a claim.
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