Your beloved insurance industry at work

[pudicus]

http://www.motortrend.com/features/news/112_news03/

[frontierq]

Hmmm, thought everyone knew that, but then again, my mother works in the insurance industry. Don't have bad credit and you won't have to worry about it, no?

[Vans]

Thats interesting, I never knew that - Kind of makes sense though. I'm sure there are some strong correlations.

[garak]

Great, now they can discriminate by credit in addition to everything else.

Insurance companys = legalized discrimination

Now I will not feel so bad for the insurance companys the next time I hear about insurance fraud. Wait a sec, i didnt feel bad in the first place.

['87 Sentra]

It is insurance fraud that hurts everyone else who is playing by the rules. This kinda sucks since I have no pitty for insurance companies, but when they get shafted, they tend to shaft everyone else.

[Sorin]

Great, now they can discriminate by credit in addition to everything else.

Insurance companys = legalized discrimination




I wholeheartedly agree. That's actually my signature in a lot of forums: "Car insurance is legal discrimination". Fvck insurance. What the fvck business is it of theirs whether I'm married or not, how old I am, what gender I am? It's none of their godd*mn business. That's discriminating in so many different ways, and it's legal because of the money involved. And now they're telling people they've used their credit too? Fvck them. And there isn't jack holy sh!t anyone can do about it since insurance is legally required. So either you drive illegally or bend over and let them sodomize you.

Can I charge the overweight guy $100 for a cheeseburger, because statistically he's more likely to die?

Can I ban married people from strip joints because they have a spouse for that sort of thing?

Can I charge $500 for video games and video game consoles so that children aren't "wasting" their time in front of a TV 24/7?

Of course not. Or how about charging me $2000 a year for car insurance simply because I'm a guy and I'm 22 and not married? No, you can't because that's discriminating.

Oh wait, I'm sorry. Yes they can because the government says it's okay and they're making bank while they're at it.

[skee79]

To say insurance is discrimination is ridiculous.
It's like gambling. All insurance companies are doing is putting a spread on their odds of losing money by betting on you. It's nothing but legalized book making.
Put yourself in their shoes: Would you be willing to cover insurance on any of your friends? If your best friend came up to you and said "hey, how about you give me $20,000 to replace my new g35 if I total it this year...in return, I'll pay you $100 bucks a month." would you take those odds? Now what if you know your friend is a fairly reckless driver? Would you still cover it for the same price? Absolutely not, because there's a higher likelihood of you having to pay out that $20K.
Its common sense, I don't know why everyone seems to think it's some big government conspiracy.

[frontierq]

"Of course not. Or how about charging me $2000 a year for car insurance simply because I'm a guy and I'm 22 and not married? No, you can't because that's discriminating."

It's not discriminating. Typically, you are a "higher risk" for the insurer, therefore higher premiums. First strike against you is you're a guy. Guys are risk takers, in general. Second strike is you're not married. Married men/women tend to be more "settled" in their lives, not out running around, etc.
Take this for example: say I'm an insurer and my good buddy comes to me needing to insre his car. Now, I know my friend is not married, frequents the bars, doesn't hold a job for long, and has filed bankruptcy before (what a loser). Now, am I more likely to charge him $50 a month or $150, for example, knowing he is a "risk" to file a claim, possilby a big one considering he's out drinking and could get behind the wheel.
Just remember, they aren't picking on you individaully. It's the law of averages and everyone else that screws up...........

[pudicus]

Insurance industry is just another legalized racket. Much like the multi-billion $$$ state run citation-issuing industry. And as long as the cattle shuffles along, things will never change. BTW, the premiums they collect get invested into the market. So when the market is in the crapper, your rates go up faster. When they're doing well, the rates rise slower.

[Sorin]

It is discriminating. And it is stereotyping. It should be based on merit, not stereotyping and discriminating. They can use statistics to justify whatever the hell they want in their mind, it doesn't change what it really is. Someone should not be charged more if they haven't personally done anything to deserve it. If other people are being idiots then that's their problem, not mine. If I fvck up, then, by all means, shaft the hell out of me.

[frontierq]

Call it what you want, but that's the way it works. I tell ya, I sure wouldn't give you a "low rate" just because you haven't done anything. I'm gonna bet that you will and make you prove me wrong and then I'll drop your rates. Oh, wait, isn't that how it works anyway?

[Sorin]

Yeah I know that's the way it is. I'm just saying it's complete crap and I'm not changing my mind about it. It's wrong and that's all there is to it, to me. I can't and don't sympathize when crap happens to them; they are ruthless when it comes to us, so it's sure as hell going to be a two way street.

[frontierq]

Personaly, I've never had a bad experience with any insurer, though the opportunity has arrose several times. What about you? Something happen to jade your opinion?

[Sorin]

Nope, I haven't had any bad experiences either. Just shocked and pissed off and opposed to the way it works. My car is so far down on the stolen list that it probably isn't even on it. Parts are rediculously easy to get ahold of. The average drive is 45-55 (and I think its evenly split between male/female, maybe slightly more female. Don't remember), and it's a fantastically unspectacular, insignificant, and slow 4 door car. Also a squeaky clean record and credit score over 680. Yet I'm paying close to 2k a year for it because I'm male and 22 and not married. And barely a change in going from Farmer's to AAA too.