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Car Insurance Insurance (pg. 2)
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| TheWhiteQueen |
| quote: | Originally posted by EXTREMUM
Insurance for existing insurance - sounds like a scam. This calls for SPAMBUSTERS, B*TCH! :wtf: |
true fact. Are you sure it was even your insurance company calling? |
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| Arbiter |
Given that insurance companies have operating expenses and generally turn a profit, the total amount that all those paying for insurance cumulatively pay for that insurance must be higher than the amount that they would have cumulatively paid for whatever damages their insurance "protects" them against, if they did not have insurance.
This doesn't mean that insurance is totally worthless... but I do suggest you regard it with appropriate skepticism. |
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| OurManFlint |
| Do any of you think insurance would generaly be lower if insurance companies weren't allowed to generate profit, but could only be non-profit organizations. If they had a cap on how much revenue they could earn to cover all of their expenses, I doubt insurance would be so high. Or they should be using their profits for the greater good. Otherwise, I see them as a criminal organiziation, profiting from somebody's gamble, because a lot of insurance is skeptical and a gamble. |
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| Inconspicuous |
| quote: | Originally posted by OurManFlint
Do any of you think insurance would generaly be lower if insurance companies weren't allowed to generate profit, but could only be non-profit organizations. If they had a cap on how much revenue they could earn to cover all of their expenses, I doubt insurance would be so high. Or they should be using their profits for the greater good. Otherwise, I see them as a criminal organiziation, profiting from somebody's gamble, because a lot of insurance is skeptical and a gamble. |
A: Of course. That's simple math.
B: They're not criminal organizations, any more than a baker is or a grocery store is. They're providing a service people desire to have. The reason for insurance is not to cover the cost of accidents, it's because accidents are just that--accidents. Without insurance, a lot of people would be sent into financial hell for any collisions, because it's something they have not, and in many cases, can not, plan for, so insurance spreads a gigantic one-time cost out over a long period of time. It's just like a loan--of course you're going to pay more over time than you will get back. That's called interest. You are paying them for the service of accepting payment for something over time, rather than all at once. Especially nowadays, with the insanity of "pain & suffering" lawsuits, nobody can plan for the cost of an accident. If you think you can, what happens if you hit someone and kill their daughter, then get sued for $10 million? You'd be bankrupt tomorrow, were it not for insurance. On the other hand, there are people who never have an accident who then finance that pay-out, but it's considered an acceptable expense, as you can never know that you won't, yourself, be in that same situation tomorrow, and you would like to be covered for such an incident.
Is it a sort of gambling? Yes. However, unlike gambling, it benefits everyone--not just the insurance companies. On the one hand, insurance companies turn a profit. On the other hand, it also protects millions of people who are involved in accidents by no fault of their own. Say, for example, somebody rear-ends you at a stop light. Should that person not have insurance, despite having done nothing wrong, you are now put in the situation of having to deal with someone one-on-one in order to recover the losses of repairing your car. You're stuck with, say, $2,000 of damages, but can't get the money back for the repairs until you're able to hunt down someone who is unemployed and has no money, and may never be able to pay for it. Ok, so, he goes to jail. You still have no money to pay for the damage. That is the more important reason for insurance--not for the people who cause the accidents, but for the people they hit.
As for tire tread insurance...lol
Who keeps the same tires for 113,000 miles, anyways?!?!?!?! |
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| jdat |
| quote: | Originally posted by Sushipunk
Holy , I think I would just crack up laughing at the poor bastard that tried to offer me tyre tread insurance :stongue:
So I wonder if you can get insurance on the tyre tread insurance? |
my dad had gotten insurance on his tires on his company car after the tires kept getting punctured by some punks... the insurance or should I say extended warranty was from the garage .... got the tires replaced once when they got punctured again ... and then the garage noticed that it was for a business car and not a normal customer.
The idiots refused to replace the tires for free then :(
what a bunch of morons! They offer the service without even knowing what the small print says ( warranty only for consumers, not companies ).
needless to say my dad was pissed off and took his business elsewhere
btw the "insurance" only cost 10 bucks or so ... |
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| Lilith |
| quote: | Originally posted by Subey
I think the weirdest insurance I was ever offered was Tire Tread insurance.
My tires are guaranteed for 113,000kms or whatever, and if they say failed at 100,000 kms then I'd only get the difference back (i.e. 13,000 kms worth), but with the insurance I'd get the whole value. |
Sign me up! I usually get about 25-30,000km at the most out of mine. |
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| jdat |
| quote: | Originally posted by Lilith
Sign me up! I usually get about 25-30,000km at the most out of mine. |
what the hell are you doing?
sounds like your wheels aren't aligned |
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| Lilith |
| Poor impulse control, lead foot, 250rwkw... :o |
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| tubby |
| it's not called insurance on insurance here, but it's not uncommon to pay a little extra to protect no-claim bonuses in the even of a claim. I think it's $20/year or sum such thing. It's also normal to get lifetime no-claim bonus protection included with a certain number of years with the same company and no claim, all attempts to keep low-risk drivers from swapping companies too often |
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| aquila |
| My insurance calls it Rating-One Protection. My premiums don't go up if I ever need to claim, regardless if the accident was my fault or not. I chose the protection because where I live there are complete dips on the road without any insurance of their own. I've already had to claim twice before (forcing them to pay my excess), and I'm still on a rating one. |
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| Subey |
| quote: | Originally posted by Lilith
Sign me up! I usually get about 25-30,000km at the most out of mine. |
It's only an extra $5 a tyre at Canadian Tire... and for an extra $5 a tire you can get them filled with *Nitrogen* instead of air just like the Pros! |
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| Inconspicuous |
| quote: | Originally posted by Subey
It's only an extra $5 a tyre at Canadian Tire... and for an extra $5 a tire you can get them filled with *Nitrogen* instead of air just like the Pros! |
Is there any purpose for doing this at speeds under 150 mph, other than to say, "I'm ridin on Nitrogen, yo?" |
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