Thread: Insurance cancellation question
View Single Post
Old May 10, 2008 | 03:18 PM
  #27 (permalink)  
thaphillips's Avatar
thaphillips
Joined: Apr 2008
Posts: 50
Likes: 0
Default Re: Insurance cancellation question
There are many diffrent types of agents and insurance companies, they all have diffrent +'s and -'s.

Didn't mean to be rude Patpur.


Cost of insurance will almost almost go up when you start out with a perfect record and a non-youthful driver. It's just like everything else, inflation affects insurance companies just like all other forms of business.

The truth to insurance is that it is something you buy and hope you never have to use. There are very few items that you buy and never hope to use. A few I can think of is a smoke detector and a home alarm system. But when you do have to use them, you will sure be glad you had them.

Look at the price of cars, homes, and medical bills over the last 20 years, they have sky rocketed. Insurance is paying for cars, houses, and medical bills, it kind of makes sense that it will go up in price as well.

Did you know the average consumer pays an extra $100 on averavge in car insurance a year due to fradulent claims.

Also a little FYI .... most insurance companies do not make a profit of the premiums you pay. Most insurance companies take that money and invest it, and earn their profits off the investments. Ask Warren Buffett about float
 
Reply
0