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re: Allstate had a 259% increase in profits
Posted on 5/1/25 at 8:29 am to boosiebadazz
Posted on 5/1/25 at 8:29 am to boosiebadazz
Good for them for increasing profits like that off people that have zero ability to change that.
0
Posted on 5/1/25 at 8:32 am to Jack Bauers HnK
quote:
You can put up cash in Louisiana equivalent to the minimum required liability coverage and self insure, deposited with the secretary of the department of public safety or wherever the statute(s) indicate. Look it up.
So your argument here is that you aren't "forced" to purchase car insurance, but if you don't you'll have to pay cash for the government to hold to cover liability insurance coverage?
It's all semantics, but even in your (ridiculous) example, we still are "forced to purchase insurance." It's just that technically in your example the insurance money doesn't go to an insurance company.
Posted on 5/1/25 at 8:39 am to CocomoLSU
quote:
we still are "forced to purchase insurance."
You don't get to operate a vehicle and put others at risk just because you don't want to protect yourself.
All the complaining we do about uninsured drivers in this state, and yall are making this argument
Posted on 5/1/25 at 8:43 am to LNCHBOX
quote:
You don't get to operate a vehicle and put others at risk just because you don't want to protect yourself.
Nobody is arguing otherwise here.
But that dude is pretending that nobody is forced to purchase car insurance. Go bitch at him.
Posted on 5/1/25 at 8:46 am to CocomoLSU
quote:False.
Nobody is arguing otherwise here
quote:
But that dude is pretending that nobody is forced to purchase car insurance.
You aren't forced, much in the same way you aren't forced to drive yourself.
I shouldn't be surprised at some of these ridiculous takes, but somehow I still am.
Posted on 5/1/25 at 8:46 am to boosiebadazz
I would love a world where we could shoot shoddy insurance companies and shoddy lawyers into the sun.
Posted on 5/1/25 at 8:46 am to NIH
quote:
. But we need to pass the reform to understand what it will do!
Nancy Pelosi is in charge?
Posted on 5/1/25 at 8:48 am to boosiebadazz
I cut into it when I totaled my car about 10 days into my new policy.
doing my part!
doing my part!
Posted on 5/1/25 at 8:49 am to CocomoLSU
quote:
It's all semantics, but even in your (ridiculous) example, we still are "forced to purchase insurance." It's just that technically in your example the insurance money doesn't go to an insurance company.
But unlike regular insurance, you would be able to "cash out" that bond at any time and get your money back, assuming the money sat unused because you didn't cause any accidents. You would just either need to get regular insurance or no longer be driving when you cashed out.
Posted on 5/1/25 at 8:52 am to Ingeniero
quote:
Must be nice to be an insurance company. People are forced to purchase, you can charge whatever you want and crank up denials to pump your profits, and if it ever comes to a point where it'd bankrupt you, just cry and the government will bail you out.
And then there's the reinsurance market... not only can they cry to Uncle Sam, but they can hedge their bets by getting insurance on the insurance they sell outside of the market area, which we cannot. This is the dirty secret as to how and why a mild hurricane seems to impact broader markets.
Posted on 5/1/25 at 8:54 am to LNCHBOX
quote:
You aren't forced, much in the same way you aren't forced to drive yourself.
Cool bro, I'll have to choose between my Chevrolegs or my Lamborfeeties for my commute.
Posted on 5/1/25 at 8:54 am to nola tiger lsu
quote:
If only you actually knew the topic you post about.
I know. I dealt with them during Laura and Delta and still deal with them on private clients properties. Many adjusters are only there to deny and fight legitimate claims or only pay on partial claims.
On the reverse side, I also know the roofing companies who knock on everyone's doors after a slight storm and try to get full roof replacements even when unjustified are also to blame for the current state of claims.
Plenty of blame to go around but stop acting like insurance companies are not denying legit claims or shorting claims and only paying out additional money if someone knows how to push back.
Posted on 5/1/25 at 8:59 am to boosiebadazz
quote:
A recent Insurance Business+ report explained that rising material costs from the newly introduced 25% duty on cars and car parts will likely increase claims costs for auto insurers, which may subsequently elect to adjust actuarial models, prompting rate hikes between six and 10% by the end of 2025.
its real cute you sitting here in a predominant LA shite auto insurance industry acting like physical damage repairs are what fricks over the insureds in the state regarding cost of insurance all coming from an injury attorney that makes more money than anyone in the claims processes.
Posted on 5/1/25 at 9:01 am to boosiebadazz
These poor insurance companies can probably barely pay for the nonstop commercials on television, same as the poor pharmaceutical companies. Let’s all grab our ankles to help them out.
Posted on 5/1/25 at 9:06 am to Chad504boy
quote:
its real cute you sitting here in a predominant LA shite auto insurance industry acting like physical damage repairs are what fricks over the insureds in the state regarding cost of insurance all coming from an injury attorney that makes more money than anyone in the claims processes.
Your jimmies get rustled every time we learn Allstate makes absurd money
I made no comment or argument about the past quoted. Just thought it was an interesting downstream effect of tariffs. I’m sure I’ll get blamed for that increase too.
Would you support a state-by-state breakdown of insurance companies profits and losses?
Posted on 5/1/25 at 9:10 am to LNCHBOX
quote:
You aren't forced,
But you are. Per him you either have to pay for car insurance, or give the money that would cover insurance to the government for them to hold. Which is essentially the same thing. That's my point.
"Look, man, you don't have to pay for car insurance. You can just give me a check for the same amount as car insurance and I'll hold it for you, bro. Doesn't that sound much better?"
quote:
I shouldn't be surprised at some of these ridiculous takes, but somehow I still am.
I'm surprised that you don't seem to follow my VERY simple logic here (unless there is something I am missing, which is possible).
This post was edited on 5/1/25 at 9:12 am
Posted on 5/1/25 at 9:11 am to Jack Bauers HnK
Insurance industry controls insurance commissioner PROFIT
Attorneys control legislators and governor PROFIT
Contractors jack prices in a crisis PROFIT
People fricked
Attorneys control legislators and governor PROFIT
Contractors jack prices in a crisis PROFIT
People fricked
Posted on 5/1/25 at 9:12 am to boosiebadazz
But...but...muh tort reform.
Posted on 5/1/25 at 9:13 am to boosiebadazz
quote:
Your jimmies get rustled every time we learn Allstate makes absurd money
I made no comment or argument about the past quoted. Just thought it was an interesting downstream effect of tariffs. I’m sure I’ll get blamed for that increase too.
Would you support a state-by-state breakdown of insurance companies profits and losses?
hardly any jimmies rustled. its just an attorney trying to deflect attention. insurance company making money, they are bad. attorneys make filthy money doing nothing taking on no risk but guaranteed pay days, its all good.
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