Insurance rant...
 

Most of you know my daughter had a car accident and totaled her cute little 2002 Ford Focus. Well, the policy is up for renewal this month, and they are really socking it to me. She adds over $2,000 to the policy every six months (and that's with just my car and no second car).

I could buy a helluva lot of carbon and lycra for $4k a year.

I sure picked the wrong time to give up smoking and booze! :(

(Not really, of course...)

Guess I'll go for a ride and lower my stress....

My wife had her first "at fault" accident about 3 years ago. First accident in over 30 years of driving. And with the first accident, her rates went up about 2000/year and will only drop to the original rates after 6 years without another accident or ticket. We figure the insurance company actually made a profit off her accident! (Of course, not counting the premiums from the previous 30+ years accident- and claim-free)

D**m insurance companies!!

Perhaps that extra $2 Gs should go for a bike--- for her

Insurance companies make a profit off of everything!! Its what makes a stockholder feel good.

Parenting is always filled with challenges. As a kid I was not allowed to get a driver's license until I could pay for my own auto insurance. I've held the same standards for both of my boys, and it seems to have made an impact on them. One son didn't get his license until he was 19. He said, "I've got better things to do with my money." Of course, that means he had to learn to take public transportation and/or get friends to take him places. My other son rode his bicylce to work eight miles each way for over a year (he was working part time and going to school full time).As far as insurance companies go.... they are in business to make profits. And, if that means sticking to their consumers (at least that's how it feels to us), they seem all too willing to do so.

Hope your ride lowers your stress.

She's already got one! Only problem is that she cannot get comfortable riding on the road. Just too nervous. She has to stick to MUPs. And I hate them. But twice a week, we normally hit one so she can ride, and once or twice a month make the trek to the East Bay Bike Trail in Prov. RI for a nice ride. I really prefer to ride on the road tho. Feel safer.

My insurance company wanted to charge me higher premiums because my daughter was about to turn 16 years old and thus become eligible for driving privledges. Fortunately, it didn't take long for my insurance agent to set the insurance company straight. My daughter was and still is a spastic quadriplegic and will never drive a car.

My daughter is now turning 25, her rates will drop. The rule was if she wanted to drive she had to pay her own expenses - including insurance. The rate on her car was always equal to my wife and my car added together. Not outrageous, but not cheap. Luckily she never wrecked a car or got a ticket. You may check a driver safety course - that can lower your rates. It did for us even though we are low risk drivers.

Move to
Texas.

Man! That post really askeered me for a while, til I got to the part where you were only joking about giving up smoking and booze.:D

Ever notice a green trike with a Corgi in the back? Or see the photo of him in the bike shop?

Hmmmm....should this be an insurance rant, or a daughter rant?

Seems to me that she's got some responsibility here...perhaps she should pay for the difference between what the rates were before her accident, and what they are now.

$4K per year is a lot of money (my 24 year old daughter's insurance is only about $1400/year). Does she really need a car? Or, is Daddy filled with guilt and trying to assuage it by buying her things?

DG, the insurance isn't your problem, it's your daughter's. Has she checked into other insurance companies?

When I was about 40 I went home and visited my parents and they told me that they still had a disclaimer in their insurance from when I turned 16 that I was not covered if I drove their car... I was explicitly named! :D

Yea you don't need insurance here.:D

Trade you for the insurance on my 3 kids..........

Actually, I seem to remember the dog and trike. Watch for a 50+ jersey when you are riding there in the spring!

I agree that's a rip! We pay for insurance in case something happens, and when it does, they raise our rates to cover what they have paid out. Except for someone trying to sue me should an accident occur, don't think I'd see the need for it at all. Sure doesn't help us if we do something to our own car!

My take? If a teenage driver, you get one shot at getting a car. Blow that, you walk or ride a bike until old enough to afford your own (I couldn't drive until 18 - I rode a bike everywhere. Started my love affair with cycling). If every teenage driver knew that, they might pay more attention to the road. Just be thankful she is OK (as traffic accident are the leading cause among teenagers) but I really wouldn't have allowed her to drive one of my cars. Personally I see no reason in youngsters driving until age 18 anyway. Where are they going they have to drive? They can walk to school (or take a bus), or ride a bike and shouldn't be out after dark anyway. But then I'm pretty old fashion about this.

As of yesterday, Florida is the only state in the US that requires NO insurance to drive a car, because the PIP law expired. It might be coming back in a special session next week, but you never know.

Plus, the homeowners companies are sending rates through the roof (figuratively, I mean. If they acutally went through the roof, they would contest the claim) because of hurricanes and because of the housing craze of a few years ago that sent prices way up.

I had three teenage drivers for a while - my auto insurance was more than my mortgage.

This is not quite accurate. PIP only provided no fault medical coverage through your car insurance. Other coverages such as liability, property protection and uninsured motorist coverage are still required. If you have regular health insurance then you really don't need PIP since it will cover you and int he case of an accident that is not your fault they can go to court to recover their payments. I considered PIP double coverage and my auto coverage in FL was much higher than it was in San Fransisco or Chicago. In addition there are arguments that a lot of medical fraud is committed since PIP just paid out medical expenses, your insurance continues to go up and without any control.

This is much like the issues with property tax and property insurance down here. Both sides spread a lot of misinformation and in the end the consumer gets nothing. Two major bills in the legislature were designed to help the property insurance/tax crisis, net result to me $0 saving on property insurance. Property tax bill passed to roll back taxes to 2006 levels, net result to me $124 in savings. Middle class pays the bills for everything.

Proposition: As avid bicyclists, we are vulnerable to careless motorists.

Implication: We should favor poilcies (so to speak) which encourage attentive driving and which penalize carelessness.

Assertion: Increasing the insurance premiums of those who cause collisions is appropriate.



The insurance companies are not at fault; John Q. Public is at fault for causing so much carnage on our highways and not holding up the mirror occasionally to see who is ultimately responsible for high premiums.

Insurance is big business and really only pays off in a catastrophic situation. I have adjusted most of my policies to have high deductibles and lowest premiums possible. I just will not file a claim unless whatever I insure is completely destroyed. Otherwise your premiums just sky rocket or you get dropped.

I once had 4 daughters on my car insurance, they were 22, 20, 18, & 16.

Don't like to think about those days.

It sounds like you made out on the deal thus far. However, no worries, they'll get their money back over time.

... Brad

I sure picked the wrong time to give up smoking and booze!

Trust me, there is no wrong time to give up booze.

Had the same issue with my son. His only alternative now is to drive a car that doesn't require collision insurance for a few years until he's eligible for lower rates. He's in his last year of college and car-less right now, so will have to be on his own policy anyway in the future.

Be irresponsible . . . cancel insurance, sell the car(s); take the bike/bus/rent-a-car/take a cab when needed. Go car-free!

The insurance companies exist to make money, period! If they were trying to be fair, they would let those that play pay. Instead, they spread the cost of poor driving habits across the population. I've been driving for 46 years, and never had a claim against an automobile policy, but I still pay rates that are weighted in favor of the driver with insurance points on their license.

It's similar to the boss who penalizes all employees because one or two of them are habitually late for work. I say, fire the tardies and reward the one's that support the business through their good work habits.

These are the same insurance companies that do their best to avoid payouts and are presently under investigation in many states for unfair charging practices. You might also ask what size bonus the CEO gets and what stock options are being handed out.

John Q Public has problems but there are many sharks in the water waiting to take advantage of them.