no more car insurance, good or bad?

[rtillaree 10+ year member]

why? if people are dumb enough to not get it, its there own fault. it could lower insurance rates as well. given that there is an option to not have it, insurance companies would be forced to get more competitive with their pricing.

what happens if you get hit by someone who doesn't have insurance and you don't have uninsured motorist protection?

insurance companies will never be forced to do anything, insurance companies hold all the dollars...

and again, if you are able to elect to have or not have insurance coverage you can kiss car loans good bye...

 

[mazdakid 5,000+ posts]

i think its already an option in wisconsin also

 

[Grim 10+ year member]

why? if people are dumb enough to not get it, its there own fault. it could lower insurance rates as well. given that there is an option to not have it, insurance companies would be forced to get more competitive with their pricing.

Are you serious?? Must have never been hit by an uninsured motorist before...

coming in october, motorists will have the choice to give up auto insurance. you no longer have to pay if you dont want to. just like a motorcycle rider has the choice of either insurance, or wear a helmet. if an accident occurs, what i hear is that you can sue the person, and they put a lean on your property. im still searching for a better news source online, but i heard this from 4 different people within the past week. voice your opinion, if you have a source for this story. post it.

And motorcycle riders dont have that choice in alot of states...they may not have to wear helmets(there are restrictions) but it has nothing to do with carrying insurance..and its not every state...

 

[MikeofTulsa Moderator]

It affects more than just the people who aren't insured. Pedestrian gets hit by motorist, motorist has no insurance, pedestrian sues motorist, motorist loses but doesn't have the money, motorist files for bankruptcy, pedestrian ends up with practically nothing, motorist ends up bankrupt.
Everyone loses ...

well if the accident is the drivers fault the insurance isnt going to pay either so whats the difference?

 

[bigbangtheory 5,000+ posts]

As much as I would love to save some chedder, I will keep my insurance.

 

[Randy Savage 5,000+ posts]

well if the accident is the drivers fault the insurance isnt going to pay either so whats the difference?

No Fault insurance...//content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif

 

[IgnoreMe 5,000+ posts]

i got a SERIOUS question for the insurance guy in the thread...

howcome i pay 300 for my insurance per month...for a brand new car

now how come 5 years down the line, as the car depreciates and depreciates in value till its almost worth nothing, do i still pay 300 for my car?!?! so i can pay 300 and total my brand new 30k car and be home free...but i can pay 300 and total my car when its market value is 2k and have nothing to show for it besides the 300 a month payments? i understand that the value of the car isnt the ONLY thing insurance accounts for...but my monthly payment SHOULD go down somewhat as my car's value goes down.

and another thing...how in the hell do you guys get away with charging young single males more money? how is that not discriminating? thats like having the fair housing act...but then you have apartment complexes that only allow older residents...

AND ANOTHER THING how in the hell do you get away with charging an exuberant amount of money for sports cars? well no shit they have the potential to go super fast...but guess what...your assuming someone is going to break the law and speed in the first place... is guilty until proven innocent the motto for insurance companies?

not trying to start anything just trying to figure it out as i have been trying for the last 6 years

 

[rtillaree 10+ year member]

well it's not because the car is brand new, not entirely at least...there are many things that factor in...

1) age of insured

2) driving record of insured

3) type of car

4) engine size and specifications

5) vehicle's safety rating

6) color (thats right a bright yellow car costs less per month than a red or black colored vehicle as it is easier to see)

now a perfect case for the age of vehicle question is if i bought a 1996 dodge viper in 1996 and it cost me $500 per month then, it would still today cost me $500 (if not more because of rate hikes and so on) because the car is still in fact a dodge viper...

and as for the sports car question, it's all done on facts, more sports cars and suv's cause accidents, and more young kids and crazy guys in their mid 20's - early 30's cause accidents in sports cars than any other demographic next to un insured immigrants...therefore it cost more to insure as you are that much more likely to be in an accident...

and as for young males, they are involved in more accidents than anyone else...so again, based on facts, it cost more to insure...

i know insurance seems like a bunch of crap, and im not a talking head here, but once you understand insurance, it all makes sense for the most part...its a tough business...every company loses so much money every day...if they didn't charge so much they'd be out of business and everyone would be b*tching because no one would be insuring them...its a darned if you do darned if you don't type of thing...

 

[IgnoreMe 5,000+ posts]

well it's not because the car is brand new, not entirely at least...there are many things that factor in...
1) age of insured

2) driving record of insured

3) type of car

4) engine size and specifications

5) vehicle's safety rating

6) color (thats right a bright yellow car costs less per month than a red or black colored vehicle as it is easier to see)

now a perfect case for the age of vehicle question is if i bought a 1996 dodge viper in 1996 and it cost me $500 per month then, it would still today cost me $500 (if not more because of rate hikes and so on) because the car is still in fact a dodge viper...

and as for the sports car question, it's all done on facts, more sports cars and suv's cause accidents, and more young kids and crazy guys in their mid 20's - early 30's cause accidents in sports cars than any other demographic next to un insured immigrants...therefore it cost more to insure as you are that much more likely to be in an accident...

and as for young males, they are involved in more accidents than anyone else...so again, based on facts, it cost more to insure...

i know insurance seems like a bunch of crap, and im not a talking head here, but once you understand insurance, it all makes sense for the most part...its a tough business...every company loses so much money every day...if they didn't charge so much they'd be out of business and everyone would be b*tching because no one would be insuring them...its a darned if you do darned if you don't type of thing...

i understand the basics of it. but a lot of it is based on what MIGHT happen. hell, our prisons are mostly filled with blacks and latinos, so should blacks and latinos should charged more taxes to pay for the prison system because statistically they take up the most space? god **** that was a terrible example...

i have been raised to see someone as what they present themselves as. i wont judge by age, race, religion, ****** preference...nothing. so to me little things like this piss me off. for me a good system would be to charge everyone the same. then as they get into accidents put them into the price bracket that links them with the statistics. for example a 18 year old male pays the same as a 35 year old male. when/if the 18 year old gets into an accident you put him into the "singe young male" catagory since he just showed you, hes a typical 18 year old male.

eh, its just an idea that runs through my head when i hear people complaing of insurance rates. oh, and i wont drive without full coverage insurance, i just dont think its fair to screw the younger crowd.

 

[rtillaree 10+ year member]

well with insurance, if you stick with your company, your rates do come down, as you prove your standings, and also they will in most cases send you dividends checks every once in awhile...maybe you should speak with your agent...ask him/her where and when you can expect a break...

 

[Qbenjamin 10+ year member]

I pay $100 a month for full coverage, that is well worth the PIECE OF MIND knowing that IF I do get in an accident, I have somewhat of an umbrella of protection.

 

[donpisto 5,000+ posts]

As much as I would love to save some chedder, I will keep my insurance.

x2...getting rear ended at 60 mph at a still position costing 7k in damages is no fun...thats why i got insurance //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

 

[neonrt 10+ year member]

It affects more than just the people who aren't insured. Pedestrian gets hit by motorist, motorist has no insurance, pedestrian sues motorist, motorist loses but doesn't have the money, motorist files for bankruptcy, pedestrian ends up with practically nothing, motorist ends up bankrupt.
Everyone loses ...

i understand that and all, but are not injury claims and such still law even after bankruptcy? i thought that your wages would be garnished(if taken to the extreme) if the court ordered so, being unaffected by bankruptcy?

i still say if insurance became an option, it would still force insurance companies to lower rates to keep the "it wont happen to me" people to keep buying insurance.