WTF now I know why my Car Insurance is so high?

reply to post by demonid011


Sadly that is what happen when something is done by mandate, meaning in order to drive you have to purchase insurance by law, once the law protect the insurance business is all for profits their profits and screw the consumer.

Insurance business are in the business of making money not helping anybody.

Jeez, you guys pay a lot for insurance over there! 44 years old, seven years without claims, fully comprehensive insurance with protected no claims on a 2002 3.0d LWB Nissan Terrano (2 tonnes of 4x4) cost me £300 a year.

reply to post by GeeBee


Well when the doc's charge rip off prices and theres ambulance chasing lawyers everywhere its hardly surprising that the costs go up silly, least here in the UK they're finally tackling the crash 4 cash whiplash abuse but we got the lawyers now so soon it won't be long before the numbers here get silly as put a 1/2 inch dent in someones car will probably end up with a 10k personally injury claim for the stress

Nephalim

You know, there was one company (which shall remain nameless) but actually sent you money back if you had no issues. That's a great step forward there imo.

I was on that particular insurance company when they started that campaign, and I looked into it. Turns out it is a scam, and the way it is portrayed isn't in any way how it actually works in reality.

It's been a few years, but if I remember the details correctly, you pay an extra $20/month on your insurance policy in order to get money back if you have no claims. Let's say the time frame is 6 months for no claims. In that time you'll be paying the insurance company an extra $120. They will send you a check for $58 and some change.

You're paying them a large sum to have them send you a small amount of money later down the road. You would be better putting that extra money into a savings account and not touching it.

No, no, no. You've got it all wrong.

When a state mandates car insurance for everyone the rates plummet to affordable levels since there arent any uninsured drivers to leech off the system and hike your rates.

Just like what the Affordable Care Act is doing.

Oh......wait.......

Overseas grade A insurance for our 2013 truck and 2013 car we pay $324 a year for each policy with no deductible. In the states I pay $546.97 every six months for a 2012 Jeep with $500 deductible; no accidents or tickets with a credit score of ?830? last time I heard. Been with the same insurance company for over 45 years.

I have finally sold my house in the states and will be closing in February then moving overseas permanently.. No property or death tax around here so if you own property it is yours and when you die the kids or relatives get what you leave them. Just a poor third world country that hasn't figured out how to milk everyone out of a pay check yet.. Mostly a cash society anyway with VAT tax system. The government waved the tax for car buyers this year which would have increased the price of the autos by about $6000 for both... Was a good time to buy for us.

Not an option for everyone to pack up and move.... trust me I count my blessings almost everyday !
I would certainly hate to be poor for there are no safety nets other than family for most, but for me and the wife after considering all the considerations we are gonna move; as I write this I am at the farm overseas now; played golf today $9 got a great massage afterwards $9 went shopping for toys for some kids, $28 and had a great home cooked meal with charcoal cooked chicken, fries, salad, Bread and some cookies $2 ! The electric bill during the summer with both air conditioners running has never been over $60 and is usually around $55. I am not a tight wad but I really hate wasting money on things unless I enjoy the smiles on some kids faces or feel good (or tired) afterwards. No one likes to get ripped off.. Less rip off around here IMO.

Not for everyone I assure you, nothing is perfect and this ain't America but I like the people ... So we will try this for a while and see what turns up.

I grew up in the states and went off to a great patriotic war, survived, worked and made a decent living doing what I loved to do. I would never have thought I would move overseas but the 6 months in the states and airplane ride of 22 hours and 33 hour travel time was really getting old when we came or left the farm overseas....visit was always the plan, but make a permanent move (?) , well here we are and so far no regrets, we will just have to see how it goes.. Either way wish us luck ! My retirement fund will stay with my broker in the states (35% tax penalty if I pull it all at once) and the funds from selling of the house will be sent to the bank overseas. Hopefully if something dreadful happens to the dollar we will not starve and can still live out our lives in relative comfort.... May have to cut back on golf which I play every day to only a few times a week... sacrifice sucks! There are many X-pats overseas from all over the world. Some moved because their retirement was kinda lean in their home country or others moved because the did not like the direction of their home society and government... All seem to have a bit of adventurer in their spirit.... but it takes all kinds with many different reasons to make a move like this.

reply to post by mblahnikluver


i agree with everything you say, except paying by credit card at government offices. That is primarily to offset processing fees. I spend about 1% of my gross monthly income on credit card processing (we do about 2/3 of our business on credit card). I believe that a government office is reasonable in passing that charge on

Otherwise, i agree. And you got screwed pretty badly.

What gets me is insurance companies, like banks, report their profits every year. If their profits are down, they raise rates. They cannot lose money, only earn more and more every year. I recognize that they are not non profit organizations but could they not be happy at a status quo?
I sold my truck when the rates rose to more than the truck was worth. I am an older driver, 54 years old, no tickets or claims for over 20 years but still my rates were increasing. The insurance company told me the rates went up across the board because the number of claims went up and affected their profits.

Typically the largest/tallest buildings in a city are the financial and insurance buildings. Why do you think that is?

Both are designed to pay themselves.

Derek