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Do tell, is this a bit ridiculous or am I crazy? (INSURANCE FUN) (pg. 2)
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| zokissima |
I thought this one of the most ridiculous stipulations as well. I have a similar clause on my own insurance, and that of my 'rents whereby I can't drive one of their specific cars. I love how insurance reps always have a plausible, lengthy, and informative explanation to every single question I can ever ask, but not a one of them can do anything about the costs involved :p
It's such a scam. I've heard so many instances where people have taken advantage of it. Peple driving with basic insurance, due to a lack of ability to pay for better premiums, always end up paying more for nothing, and those rich enough to afford premium coverage use and abuse it. There seems to be miles of red tape and bureaucracy to the brim, yet these people are out there to 'protect me'. Sure sure. |
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| Spike |
i had to sign a waiver too....goddamn s:mad:
lets blow up their headquarters a la fightclub |
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| Moral Hazard |
| quote: | Originally posted by zokissima
I love how insurance reps always have a plausible, lengthy, and informative explanation to every single question I can ever ask, but not a one of them can do anything about the costs involved :p |
If this was directed at me... hey, I'm just trying to help you all understand insurance rather then remaining part of the vast uneducated masses that simply bitch about it thinking it's just all a big scam. BTW, I'm an adjuster, not an agent or broker (normally what one refers to as a rep).... I don't sell anything, I pay claims. As for your "costs" I could probably provide lots of solutions for you as to how you can decrease your premium but chances are you won't like them and won't follow them, however, give me the details of yourself, your policy (insurer, coverage, deductibles), your vehicle, and your premium and I'll tell you how to decrease it. |
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| VERTiG0 |
| quote: | Originally posted by Moral Hazard
this would only matter if there is collision coverage on it. If anyone is carrying collision on an 88 New Yorker they should re-evaluate that decision. Moreover, the insurer knows there is no way in hell they will be repairing an 88 New Yorker.... the Actual Cash Value (ACV) of that vehicle is likely less then $1000, the average claim is more then $1000, subsequently, it stands to reason that the vehicle will be declared a total loss in any collision. |
Yeah, there's only basic on my car. It would indeed be ing retarded to have collision on it.
Maybe I should t-bone a bus full of nuns, and then hope that bus is rear ended by a chicken truck.
That'd be the best accident ever. |
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| Sweeper |
| quote: | Originally posted by zokissima
I thought this one of the most ridiculous stipulations as well. I have a similar clause on my own insurance, and that of my 'rents whereby I can't drive one of their specific cars. I love how insurance reps always have a plausible, lengthy, and informative explanation to every single question I can ever ask, but not a one of them can do anything about the costs involved :p
It's such a scam. I've heard so many instances where people have taken advantage of it. Peple driving with basic insurance, due to a lack of ability to pay for better premiums, always end up paying more for nothing, and those rich enough to afford premium coverage use and abuse it. There seems to be miles of red tape and bureaucracy to the brim, yet these people are out there to 'protect me'. Sure sure. |
Insurance is spreading the losses of the few amongst the many. You may pay insurance say for 5 years no claim, average premium 25+ is about 1200 so that is 1200*5=6000. So you pay 6000 for nothing for 5 years, but then u hit a van with a family in it and the insurance company has to pay out 5 million, then ppl are suddenly happy they have insurance.
It has nothing to do with being rich enough to afford full coverages then take advantage of it, once you make a at fault claim or 2 then your in the facility and paying 6grand for 6 months. To further that if a company sees that your claiming everything then they wont want to write you, or if your making piddly claims for windshields then they will exclude glass coverage (OPCF 13c, In ontario) on your vehicle. |
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| Moral Hazard |
| quote: | Originally posted by VERTiG0
Yeah, there's only basic on my car. It would indeed be ing retarded to have collision on it.
Maybe I should t-bone a bus full of nuns, and then hope that bus is rear ended by a chicken truck.
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better idea.... next time someone turns left across your path at an intersection you're approaching..... give 'er ! Make sure you hit them. If they are turning left (in Ontario) they are at fault. You will get your vehicle writen off. Chances are you'll get $1000 under Direct Compensation (which is part of your liability coverage). I say you'll get $1,000 because typically that this the least an insurer will pay on a total loss (even if the ACV is $1 insurance companies will normally pay $1,000 as a basic transportation allowance). Then you'll want to make a claim for injuries and sue the other driver. As someone who investigates fraud and BI claims as a specialty I can help you out in this regard.;) |
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| zokissima |
| quote: | Originally posted by Moral Hazard
If this was directed at me... |
lol no no no no, I actually like your posts. Its probably the single reason I have any understanding about why I have to pay so much. You explain. Insurance dealers I've spoken to in the past, they just never explain anything throughly enough for my tastes. Sorry bout that :) |
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| VERTiG0 |
| quote: | Originally posted by Moral Hazard
better idea.... next time someone turns left across your path at an intersection you're approaching..... give 'er ! Make sure you hit them. If they are turning left (in Ontario) they are at fault. You will get your vehicle writen off. Chances are you'll get $1000 under Direct Compensation (which is part of your liability coverage). I say you'll get $1,000 because typically that this the least an insurer will pay on a total loss (even if the ACV is $1 insurance companies will normally pay $1,000 as a basic transportation allowance). Then you'll want to make a claim for injuries and sue the other driver. As someone who investigates fraud and BI claims as a specialty I can help you out in this regard.;) |
I have JUST the intersection here in Cambridge for that, in fact I was thinking about this yesterday. But that's because it almost happened.
But let me get this straight, if I'm going straight through a lighted intersection and the guy opposite me is turning left and he could indeed make it if I didn't accelerate, but I did and hit him, they're still at fault? |
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| Moral Hazard |
| quote: | Originally posted by zokissima
lol no no no no, I actually like your posts. Its probably the single reason I have any understanding about why I have to pay so much. You explain. Insurance dealers I've spoken to in the past, they just never explain anything throughly enough for my tastes. Sorry bout that :) |
Thanks, sorry to have been standoffish (I'm just used to taking a lot of due to my profession). If you want to know anything I'm always available to ask. |
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| geroin |
i was in an accident (not my fault) and my insurance rate still went up.
definately is a scam |
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| Moral Hazard |
| quote: | Originally posted by geroin
i was in an accident (not my fault) and my insurance rate still went up.
definately is a scam |
When and by how much? Also, please share the details.... was it really not your fault (as in you had 0% liability) or was it "not your fault" (as in "the guy in front of me stopped but I couldn't because the road was wet, sure I was following too close but I mean, he shouldn't have stopped).
Also, please note there are a multitude of factors other then experience that effect rates.... your rates could increase due to an increase in the amount the government allows your insurer to charge, inflation, change of address, increase in your driveing, any number of changes in material fact (which are usually discovered after a claim is made because that's when we find out you lied on your application for insurance in the first place.... the old registered in your grandma's name trick is pretty common), etc. |
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| starsearcher |
| quote: | Originally posted by geroin
i was in an accident (not my fault) and my insurance rate still went up.
definately is a scam |
I've heard of this before...but then again I was rear ended about 5 eyars ago (or maybe even more) and my insurance has never changed. Just for the record I just bought my own car and the insurance came out to be pretty decent actually :) |
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