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Started By
Message
Why does my insurance premium increase if someone crashes into me?
Posted on 1/27/17 at 11:06 am
Posted on 1/27/17 at 11:06 am
I was in an accident about 2 years ago in which the other party ran a red light and totaled my vehicle. Fast forward to this morning; I'm shopping around for another insurance company.
The rep at one insurance company let me know that because of this accident, my premium is significantly more than it would be. The report shows the other party was at fault, but my premium goes up regardless? I don't understand this.
I ended up getting a better deal through another company, but I just don't understand how an insurance company justifies charging their clients for accidents they have no control over.
All insurance is a scam. We're forced to pay for it, but they are absolved of seemingly all responsibility on their end of the deal. We all end up paying a monthly premium, paying a deductible, and we still end up paying for accidents that are out of our control. The insurance companies seems to have no liability whatsoever.
The rep at one insurance company let me know that because of this accident, my premium is significantly more than it would be. The report shows the other party was at fault, but my premium goes up regardless? I don't understand this.
I ended up getting a better deal through another company, but I just don't understand how an insurance company justifies charging their clients for accidents they have no control over.
All insurance is a scam. We're forced to pay for it, but they are absolved of seemingly all responsibility on their end of the deal. We all end up paying a monthly premium, paying a deductible, and we still end up paying for accidents that are out of our control. The insurance companies seems to have no liability whatsoever.
This post was edited on 1/27/17 at 11:11 am
21
Posted on 1/27/17 at 11:07 am to TDcline
quote:
I was in an accident about 2 years ago in which the other party ran a red light and totaled my vehicle.
You should always look both ways before crossing the street.
Posted on 1/27/17 at 11:07 am to TDcline
quote:were they uninsured?
I'm shopping around at a few different insurance companies this morning. I was in an accident about 2 years ago in which the other party ran a red light and totaled my vehicle.
Posted on 1/27/17 at 11:07 am to TDcline
quote:
but my premium goes up regardless? I don't understand this.
you should be a better defensive driver.
not at fault accidents sometimes do affect ratings with companies, the way it is. 
Posted on 1/27/17 at 11:07 am to TDcline
There is a reason why all of the tall buildings in major cities are owned by the insurance companies.
Gotsta get paid, no what I'm sayin"!
Gotsta get paid, no what I'm sayin"!
Posted on 1/27/17 at 11:08 am to TDcline
Despite not being at fault, statistics show if you're involeved in any accidents whatsoever, the likelihood of another increases. It's a bullshite concept but rates are all based on algorithms that I wouldn't even dare try and understand.
Posted on 1/27/17 at 11:10 am to ruzil
Profit margins for the best performing insurance companies are < 5%. Most are between 1-2%.
Posted on 1/27/17 at 11:11 am to TDcline
quote:
I was in an accident about 2 years ago in which the other party ran a red light and totaled my vehicle.
honest question, how much pain and suffering did you get paid in that accident?
Posted on 1/27/17 at 11:11 am to TDcline
You have to pay for the vunable
Posted on 1/27/17 at 11:12 am to Chad504boy
None. I pulled over and stopped traffic at the intersection, so the other vehicle could get their car out of the road. I'm not a POS.
Posted on 1/27/17 at 11:12 am to TDcline
I had three people crash into my vehicle in less than 6 months - 2 of those times my vehicle was parked.
My premium nearly doubled.
It dropped $200 after one year of no accidents though, fwiw
My premium nearly doubled.
It dropped $200 after one year of no accidents though, fwiw
Posted on 1/27/17 at 11:13 am to BoogaBear
quote:
Profit margins for the best performing insurance companies are < 5%. Most are between 1-2%
Found the insurance agent.
Posted on 1/27/17 at 11:13 am to TDcline
It's like you're Eddie Mush. Just be glad they don't literally make you stay in the bathroom.
Posted on 1/27/17 at 11:15 am to TDcline
quote:
None.
well that was stupid.
Posted on 1/27/17 at 11:17 am to AwesomeSauce
quote:
Found the insurance agent.
IT for a major insurance company I only know because of profit sharing bonuses.
Posted on 1/27/17 at 11:18 am to TDcline
Money.
/thread
/thread
Posted on 1/27/17 at 11:19 am to TDcline
OP, did you use your own coverage to handle your damages or did you file with the at fault carrier? I work as an adjuster at one of the big 3 in Florida, and it doesn't matter who was at fault, if you used your coverage, it can and will have an impact on your rates.
This post was edited on 1/27/17 at 11:20 am
Posted on 1/27/17 at 11:20 am to Snoopy04
quote:
statistics show
quote:
It's a bullshite concept
Math is bullshite?
Posted on 1/27/17 at 11:21 am to TDcline
how do you think warren buffett got so rich?
Posted on 1/27/17 at 11:23 am to GreatLakesTiger24
Bc The General sucks!
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