OT: Insurance rates...

[Don Y]

From
<https://www.cnn.com/2023/09/13/business/inflation-car-insurance-rate-increases/index.html>:

\"That would have pushed his monthly rate up to around $420 unless he reduced
his coverage\"

$5K/yr for *car* insurance??? WTF!

 

[Ralph Mowery]

In article <udtumj$2g86p$1@dont-email.me>, blockedofcourse@foo.invalid
says...

wsgroups: sci.electronics.design

From
https://www.cnn.com/2023/09/13/business/inflation-car-insurance-rate-increases/index.html>:

\"That would have pushed his monthly rate up to around $420 unless he reduced
his coverage\"

$5K/yr for *car* insurance??? WTF!

Many insurance companies are pulling out of Florida and some other
places because of natural dieasters..

Others have to charge very high rates to make a profit.

 

[Don Y]

On 9/14/2023 10:52 AM, Ralph Mowery wrote:

In article <udtumj$2g86p$1@dont-email.me>, blockedofcourse@foo.invalid
says...
wsgroups: sci.electronics.design

From
https://www.cnn.com/2023/09/13/business/inflation-car-insurance-rate-increases/index.html>:

\"That would have pushed his monthly rate up to around $420 unless he reduced
his coverage\"

$5K/yr for *car* insurance??? WTF!

Many insurance companies are pulling out of Florida and some other
places because of natural dieasters..

I was aware of that wrt homeowners insurance, but hadn\'t thought
it had spilled over into auto.

And, the policy cited (above) was in MD... not really known for
\"natural disasters\".

I think there are some (legal?) barriers that isolate
different business units from sharing their losses
with other, \"related\" units (i.e., car vs. auto) -- but
that may vary based on state (as insurance is often
a regulated industry).

Regardless, $13/day just for the privilege of OWNING a
vehicle seems outrageous...
> Others have to charge very high rates to make a profit.

 

[Eddy Lee]

On Thursday, September 14, 2023 at 12:32:10 PM UTC-7, Don Y wrote:

On 9/14/2023 10:52 AM, Ralph Mowery wrote:
In article <udtumj$2g86p$1...@dont-email.me>, blocked...@foo.invalid
says...
wsgroups: sci.electronics.design

From
https://www.cnn.com/2023/09/13/business/inflation-car-insurance-rate-increases/index.html>:

\"That would have pushed his monthly rate up to around $420 unless he reduced
his coverage\"

$5K/yr for *car* insurance??? WTF!

Many insurance companies are pulling out of Florida and some other
places because of natural dieasters..
I was aware of that wrt homeowners insurance, but hadn\'t thought
it had spilled over into auto.

And, the policy cited (above) was in MD... not really known for
\"natural disasters\".

I think there are some (legal?) barriers that isolate
different business units from sharing their losses
with other, \"related\" units (i.e., car vs. auto) -- but
that may vary based on state (as insurance is often
a regulated industry).

Regardless, $13/day just for the privilege of OWNING a
vehicle seems outrageous...
Others have to charge very high rates to make a profit.

Cheaper if you carry liability only. That\'s why I never buy expensive car.

 

[Ricky]

On Wednesday, September 13, 2023 at 11:29:33 PM UTC-4, Don Y wrote:

From
https://www.cnn.com/2023/09/13/business/inflation-car-insurance-rate-increases/index.html>:

\"That would have pushed his monthly rate up to around $420 unless he reduced
his coverage\"

$5K/yr for *car* insurance??? WTF!

Sure, that\'s a lot. But, I\'m surprised that you don\'t realize insurance rates depend on a lot of factors, including market saturation. Insurance companies, unlike most businesses, don\'t want to corner the market. They are risk adverse, while trying to remain competitive, so they prefer to limit how much of the market they insure. They can simply stop issuing policies, or they can raise their rates, which discourage new customers, or even cause the loss of old ones, if their rates are raised.

Has your insurance rate gone up? If not, why worry about Florida? I expect Florida has many unique factors in setting their rates.

--

Rick C.

- Get 1,000 miles of free Supercharging
- Tesla referral code - https://ts.la/richard11209

 

[Don Y]

On 9/14/2023 12:35 PM, Eddy Lee wrote:

On Thursday, September 14, 2023 at 12:32:10 PM UTC-7, Don Y wrote:
On 9/14/2023 10:52 AM, Ralph Mowery wrote:
In article <udtumj$2g86p$1...@dont-email.me>, blocked...@foo.invalid
says...
wsgroups: sci.electronics.design

From
https://www.cnn.com/2023/09/13/business/inflation-car-insurance-rate-increases/index.html>:

\"That would have pushed his monthly rate up to around $420 unless he reduced
his coverage\"

$5K/yr for *car* insurance??? WTF!

Many insurance companies are pulling out of Florida and some other
places because of natural dieasters..
I was aware of that wrt homeowners insurance, but hadn\'t thought
it had spilled over into auto.

And, the policy cited (above) was in MD... not really known for
\"natural disasters\".

I think there are some (legal?) barriers that isolate
different business units from sharing their losses
with other, \"related\" units (i.e., car vs. auto) -- but
that may vary based on state (as insurance is often
a regulated industry).

Regardless, $13/day just for the privilege of OWNING a
vehicle seems outrageous...
Others have to charge very high rates to make a profit.

Cheaper if you carry liability only. That\'s why I never buy expensive car.

Obviously, if you buy *less* of something (e.g., insurance), you
would expect to pay less.

In all of our purchases, we figure out what we *want* and
worry about the price, secondarily.

E.g., SWMBO wanted to be \"up higher\" (so not staring into the
bumpers of all the other vehicles in front of her). And,
wanted a seat that could raise *up* instead of forwards/backwards,
tilt, etc. And, of course, the passenger seat would need to have
similar adjustment capabilities for those times when she rides
shotgun (why do women seem to need to be \"up\" in order to perceive
the road ahead?)

Beyond that, ACbrrr is a requirement (the heated seats, not so much).
Four doors for the few times we have to transport folks. Hatchback
(instead of trunk) for easy access to \"goods\".

And, seat comfort (we ruled out many vehicles within SECONDS
of sitting inside!)

[We also look at personal experience with brands, dealers, etc.]

Where that puts us on the price scale is a necessary consequence
of those requirements.

But, we hold onto a car for ~15+ years so the upfront cost is
not really that important. (and, the value of the vehicle
falls, so those assessments do as well -- cars are treated as real
property, here, so registration fee is related to current
valuation... easily $500/yr for a newer, upscale vehicle!)

[Her current vehicle is approaching 10 years... with 35K miles
on the clock. Folks *always* want to buy our cast-offs!]

 

[Lasse Langwadt Christensen]

torsdag den 14. september 2023 kl. 21.32.10 UTC+2 skrev Don Y:

On 9/14/2023 10:52 AM, Ralph Mowery wrote:
In article <udtumj$2g86p$1...@dont-email.me>, blocked...@foo.invalid
says...
wsgroups: sci.electronics.design

From
https://www.cnn.com/2023/09/13/business/inflation-car-insurance-rate-increases/index.html>:

\"That would have pushed his monthly rate up to around $420 unless he reduced
his coverage\"

$5K/yr for *car* insurance??? WTF!

Many insurance companies are pulling out of Florida and some other
places because of natural dieasters..
I was aware of that wrt homeowners insurance, but hadn\'t thought
it had spilled over into auto.

And, the policy cited (above) was in MD... not really known for
\"natural disasters\".

I think there are some (legal?) barriers that isolate
different business units from sharing their losses
with other, \"related\" units (i.e., car vs. auto) -- but
that may vary based on state (as insurance is often
a regulated industry).

Regardless, $13/day just for the privilege of OWNING a
vehicle seems outrageous...

I\'m sure there are cars that depreciate more