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re: Prepare to pay more for car insurance

Posted on 5/24/22 at 8:35 am to
Posted by DevilDagNS
Member since Dec 2017
2956 posts
Posted on 5/24/22 at 8:35 am to
quote:

Nope. It was supposed to be instant or the slip and fall guys were correct.


Makes perfect sense if you are either dishonest or a low information idiot.
Posted by Jake88
Member since Apr 2005
77889 posts
Posted on 5/24/22 at 8:38 am to
quote:

Makes perfect sense if you are either dishonest or a low information idiot.
Exactly.
Posted by SouthMSReb
Member since Dec 2013
4703 posts
Posted on 5/24/22 at 8:39 am to
quote:

You can thank your local ambulance chaser and his partnered physicians.
Along with our politicians and uneducated community.
And expensive parts, and distracted driving.


This. Auto Liability claims have gone through the roof (the really pertains to any liability) - and insurance carriers have had to increase rates at double digits minimum. Most carriers are still losing money hand over fist on this line of business.
Posted by SouthMSReb
Member since Dec 2013
4703 posts
Posted on 5/24/22 at 8:41 am to
quote:


I'm not trying to defend anyone, but auto insurance in LA was fricked before Joe. My company won't even write a policy in the state any more.


Yeah, our rates for LA (commercial) are crazy high. Texas is getting that way as well.
Posted by Chad504boy
4 posts
Member since Feb 2005
175856 posts
Posted on 5/24/22 at 9:12 am to
quote:

weren’t we assured if tort reform passed rates would not go up.


link? only ambulance chasing lawyers would have uttered dumb shite like that to influence emotions of the ignorant folks in the state.
This post was edited on 5/24/22 at 9:12 am
Posted by go ta hell ole miss
Member since Jan 2007
14537 posts
Posted on 5/24/22 at 1:48 pm to
quote:

Makes perfect sense if you are either dishonest or a low information idiot.


I am guessing you are an insurance guy. They said premiums after the new law would go down. Without the law how much ephen more would you be charging?
This post was edited on 5/24/22 at 2:47 pm
Posted by go ta hell ole miss
Member since Jan 2007
14537 posts
Posted on 5/24/22 at 1:54 pm to
quote:

link? only ambulance chasing lawyers would have uttered dumb shite like that to influence emotions of the ignorant folks in the state.


You are the uneducated one if you do not know that Jim Donelon said rates will decrease. Don’t come in here all condescendingI when you don’t even know what you are talking about. You just parrot what big insurance says. I am not parroting trial lawyer anything. This is directly from your lobbyists mouth.

Jim Donelon says tort reform will cause rpremiums to go down.
Posted by Chad504boy
4 posts
Member since Feb 2005
175856 posts
Posted on 5/24/22 at 1:57 pm to
so nobody has saw a rate decrease or are you being a dramatic bitch based on an OP statement with no information?

In any case, tort reform will be a process that has to slow the avalanche of claims and will likely take decades to truly make meaningful process. But if that's not good enough for you, you can continue to neglect the issues and we'll just watch the walls crumble like we've been doing past 20-30 years.
Posted by go ta hell ole miss
Member since Jan 2007
14537 posts
Posted on 5/24/22 at 2:13 pm to
quote:

so nobody has saw a rate decrease or are you being a dramatic bitch based on an OP statement with no information?


That’s typical of you. Condescending reply with no facts to support your theisis. When somebody provides contradictory facts you resort to childish name calling. At least you are consistent. Typical strategy that liberals use, too. Someone disagrees with them they attack with no facts to support it. When their attack is refuted by facts they go on to attack the people personally and with name calling..

Tort reform has never resulted in a reduction of insurance premiums. There is empirical data to support numerous times when tort reform was touted to reduce premises and it does not work.

Insurance companies and trial lawyers are one and the same. They both take advantage of situations to extract money and blame the need to do it in each other. Meanwhile, the customers and small businesses are the ones that end up suffering as a result.
This post was edited on 5/24/22 at 2:46 pm
Posted by ExtraGravy
Member since Nov 2018
970 posts
Posted on 5/24/22 at 3:00 pm to
quote:

Most carriers are still losing money hand over fist on this line of business.


Hard to find apples to apples comparisons of these companies but-

State Farm 2021 results: net worth $143.2 billion; net income $1.3 billion; CEO paid "more than $24 million in cash for 2021, a record-setting compensation level for the insurer and likely the largest cash haul of any chief executive in the U.S."

Allstate 2021 results: profits $1.5 billion; "Chair, President, and Chief Executive Officer at ALLSTATE CORP, Thomas J. Wilson made $18,009,544 in total compensation."

Are they all just going to have to shut down in like another year or two?
Posted by ExtraGravy
Member since Nov 2018
970 posts
Posted on 5/24/22 at 3:08 pm to
quote:

Auto Liability claims have gone through the roof (the really pertains to any liability) - and insurance carriers have had to increase rates at double digits minimum.


I'm not sure about rate increases. We were promised lower rates in LA, so if we didn't get them that's a problem.

But as for your statement "Auto Liability claims have gone through the roof"- where does that come from?
Insurance Information Institute has numbers through 2020, and they don't show that.
LINK

Claim frequency was way down from previous years, noticeably less than 2018 and 2019. Claim severity did increase though. But incurred losses, as a dollar amount were overall down quite a bit in 2020 compared to years before.
Posted by Chad504boy
4 posts
Member since Feb 2005
175856 posts
Posted on 5/24/22 at 3:21 pm to
quote:

Insurance companies and trial lawyers are one and the same.


they are not.

if they were the same, how come we are filled with lawyers and not companies wanting to do business in our state?

Posted by WildTchoupitoulas
Member since Jan 2010
44071 posts
Posted on 5/24/22 at 3:22 pm to
quote:

I sure hope Biden has a plan

Really?

Can you imagine the plan if he did?

Posted by go ta hell ole miss
Member since Jan 2007
14537 posts
Posted on 5/24/22 at 3:27 pm to
quote:

hey are not. if they were the same, how come we are filled with lawyers and not companies wanting to do business in our state?


Skip over all the rest and then leave out other relevant parts. You really are taking a liberal argument approach here. They are the same in that they take advantage of situations to extract exorbitant money that harms customers and small businesses. You needed to read the next two sentences to see the correlation.
Posted by jclem11
Chief Nihilist
Member since Nov 2011
9541 posts
Posted on 5/24/22 at 3:31 pm to
quote:

Rates largely unchanged here in north Alabama.. Must be a Louisiana thing


Same. Just got my renewal and my rate went up $2.27 for a 6 month period here in HTX.
Posted by dexy82
Madison, WI
Member since Sep 2004
2060 posts
Posted on 5/24/22 at 3:31 pm to
Car board??
Posted by Chad504boy
4 posts
Member since Feb 2005
175856 posts
Posted on 5/24/22 at 3:32 pm to
not skipping over anything. commissioner says vague statements and you ignore a lot in that article. If one person had a rate decrease, then commissioner's statements are proven true. You're pissing in the wrong direction. But you can shite on the commissioner all you want, he's not been my favorite over past few years.
Posted by Teddy1388
I-10
Member since Aug 2017
762 posts
Posted on 5/24/22 at 3:42 pm to
They should hand over some of those profits to Florida and Louisiana. I doubt any carriers have had much profit, if any, in these two states lately.
Posted by Mordecai225
Member since Mar 2017
143 posts
Posted on 5/24/22 at 4:22 pm to
20%? My homeowners more than doubled without me making a single claim.
Posted by DevilDagNS
Member since Dec 2017
2956 posts
Posted on 5/24/22 at 5:37 pm to
quote:

Makes perfect sense if you are either dishonest or a low information idiot.


quote:

I am guessing you are an insurance guy. They said premiums after the new law would go down. Without the law how much ephen more would you be charging?


So you would fall under the latter aforementioned category.
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