16 year old drivers insurance = ?
- Thread starter iwannadie
- Start date
insurance sucks, i dont have it.
(2x)
Whats up with me pressing reply instead of edit??? idiot..
(2x)
Whats up with me pressing reply instead of edit??? idiot..
Nomad707;1137589 said:
Thanks, your why I have to pay extra for uninsured(and under-insured) coverage.
Nomad707;1137587 said:
You better not step foot on my roadways... :nono:
Fuck uninsured motorists.
the rules in tx have changed this year, big time.(ex wife is an agent)
the liability coverage requirement had doubled.
the most expensive driver is matched with the most expensive car.
no driver exclusions for certain cars in the household(used to be able to do this)
if your name isn't on the card, you are uninsured..period. no more borrowing your friend's/mother's/in-laws pickup to move. if fou get pulled over, and your name isn't on the card, grab yoour ankles. no more straw insurance policies.
your insurance is now tied in with your plates. if you get pulled over, have a card, but your reg dosen't match up...you are considered uninsured. no more buying a one year policy, get the card, and stop paying on it..and keeping the card for "proof"
that last thing has made life a nightmare for small insurance companies/agents
for instance, my brother in law uses my civic more than i do. in order to use it, he has to carry his insurance papers that state he is covered when using my car...my insurance won't cover him borrowing it.and if i was to use his pickup, i would have to carry my papers stating the same. it's a pain in the ass.
the liability coverage requirement had doubled.
the most expensive driver is matched with the most expensive car.
no driver exclusions for certain cars in the household(used to be able to do this)
if your name isn't on the card, you are uninsured..period. no more borrowing your friend's/mother's/in-laws pickup to move. if fou get pulled over, and your name isn't on the card, grab yoour ankles. no more straw insurance policies.
your insurance is now tied in with your plates. if you get pulled over, have a card, but your reg dosen't match up...you are considered uninsured. no more buying a one year policy, get the card, and stop paying on it..and keeping the card for "proof"
that last thing has made life a nightmare for small insurance companies/agents
for instance, my brother in law uses my civic more than i do. in order to use it, he has to carry his insurance papers that state he is covered when using my car...my insurance won't cover him borrowing it.and if i was to use his pickup, i would have to carry my papers stating the same. it's a pain in the ass.
for now, these are texas insurance laws, as i undersstand it, insurance policies like that don't exsist here anymore. these things just changed here as of july
i have liability and thats it..
if i dont have liability registration gets suspended..
insurance is a game for big companies to make big bucks off us, the little ants under their magnifying glass.
Besides.. as much as you hate uninsured motorists, they will always be around.. trust me i was hit on my motorcylce by an uninsured, unregistered illegal peice of shit alien.
my point, i drive a peice of crap supra, one of the most unreliable stock cars to ever buy, so im not going to pan out extra money for all that package bullshit when i can fix my car for free with my junkyard of supra's.
so callllmmm down.. i was just saying i dont have the extras.. if i didnt have any insurance i couldnt drive..
if i dont have liability registration gets suspended..
insurance is a game for big companies to make big bucks off us, the little ants under their magnifying glass.
Besides.. as much as you hate uninsured motorists, they will always be around.. trust me i was hit on my motorcylce by an uninsured, unregistered illegal peice of shit alien.
my point, i drive a peice of crap supra, one of the most unreliable stock cars to ever buy, so im not going to pan out extra money for all that package bullshit when i can fix my car for free with my junkyard of supra's.
so callllmmm down.. i was just saying i dont have the extras.. if i didnt have any insurance i couldnt drive..
Still, saying you don't have insurance like you're hot shit and above the law isn't the way I would have gone about it...
As long as you're paying for my car, that's all I care about. But still, under-insured still makes me pay extra.
have you ever wondered what would happen if you hit something like a Benz, BMW, Audi, etc?
I'm not jumping your case anymore, as I'm glad you are atleast insured, it's just something you should think about as I'm sure the extra money would be coming from your pocket.
As long as you're paying for my car, that's all I care about. But still, under-insured still makes me pay extra.
have you ever wondered what would happen if you hit something like a Benz, BMW, Audi, etc?
I'm not jumping your case anymore, as I'm glad you are atleast insured, it's just something you should think about as I'm sure the extra money would be coming from your pocket.
I dont cover my supra either but I keep 500,000 (single limit) liability plus another 500k for under insured then 500k for uninsured. Ive seen first hand how an accident can ring up a 300k medical bill for one person. If I hit a car full of people I want to be sure Im covered to the max.
I can fix my own cars plus the insurance will never value it as high as what I put into it.
I can fix my own cars plus the insurance will never value it as high as what I put into it.
I'm 17
when i got my supra I had medium coverage. I paid 678 dollars at once for 6 months of insurance. I switched to a land rover and got a check from progressive for 49 dollars.
I'm also a guy, live in a town where auto theft rarely happens, qualified for most things to lower prices (grades, parents records, driving school, etc.)
when i got my supra I had medium coverage. I paid 678 dollars at once for 6 months of insurance. I switched to a land rover and got a check from progressive for 49 dollars.
I'm also a guy, live in a town where auto theft rarely happens, qualified for most things to lower prices (grades, parents records, driving school, etc.)
Adjuster
Supramania Contributor
Sorry It has taken me so long to respond to this.. I've been busy.
First a few things.
1) Every state has various laws that can be unique to that state. (Texas is a good example.)
2) Most insurance companies use what is called "Boiler plate" language in the policy, and it makes most policies similiar in most ways, but NOT ALL.
3) I hate terms like "Full coverage" etc. There are many options when you buy your policy, so it's going to change your rates depending on what you buy in any state.
Some terms common for most areas, and available on most insurance policies.
Liability:
This coverage protects you up to the limit of your stated amount if your vehicle is involved in a loss where your at fault, and would owe money to the other party.
Example. You have a Liability policy for 50k. You hit a Lambo. It totals the car. The insurance can pay up to 50k of what you owe. If the car is worth more than that, or the person who owns it will not agree waive recovery of more than 50k, then YOU get to pay the rest of the bill. (Cars and other property can be very expensive in the real world, and minimim required limits are generally not a good idea if you have very much property or other assets that could be lost if you are at fault, and do not have enough coverage to resolve the issue. What will happen is you get sued, lose, and then a judgement is made to give your property and assets away. IE: They take your house, your business, your investments etc. Worse, they can also garnish future wages.. so you pay for the rest of your life. Sounds fun eh?)
Collision:
This is tied to the insured vehicle, and pays for damage to the vehicle up to the limit of the policy, or the value of the car. (Most common is what is known as an ACV policy, or actual cash value. IE: your car is worth 10k, the insurance company will pay to repair the vehicle up to the point where it's cheaper to total it, and just pay you the value of the car. So, if your repairs cost 12k, and the car can be replaced for 9k, you get 9K less your deductible, even if the policy had a rated amount of 10k. Generally it's good to shop for rates every year, as the value of any car usually goes down, and the rated amount drops, so your rates drop accordingly on an ACV type collision policy.)
Most states are setup so your Collision coverage is primary on the listed vehicle, and secondary on non-owned vehicles you are using. IE: you rent a car while working out of town. Your own personal insurance policy covers the "non-owned" vehicle while you use it at the same levels of coverage you have, or whatever the state minimums are where you are currently located.
However, there are many conditions, and exculsions that can vary from state to state, and policy to policy. (As noted in Texas.) A very common one is that you HAVE NO COVERAGE WHEN YOU USE YOUR VEHICLE FOR A FEE. IE: You deliver the paper, or pizza. If someone pays you for gas to drive to a concert does not count, but if you work all day using your own car, and they pay you gas or money to use it, check with your agent, it's very likely that the insurance is not covering your vehicle while you use it that way. Most insurance companies sell commercial policies, and they can be configured to cover you while your not working, but you HAVE to have the commercial auto policy BEFORE you have the loss, or you are screwed. I personally have denied many claims on this alone. It sucks, but it is what the policy is designed to cover/exclude. In every single case, the Pizza place manager told the driver that they were covered under their own personal insurance policy, and it would be fine.. Yep, fine.. they are totally not insured. TOTALLY.
UM/UIM or Underinsured Motorist:
This pays YOU if the other party has no insurance, or they do not have enough insurance. Example would be you being hit while driving your R8, and it was totalled, and your left leg was amputated as a result of the loss. Your medical bills are 85,000.00 and you will be dealing with this for the rest of your life. The value of the injury claim alone is in the millions in some cases. The guy that hit you has a 500k house that he owns, two cars at 40k each, and 400k in other assets. He also owns a business that makes 500k per year. His insurance policy was for 300k Liab (Most states have 25k minimums.. it is insane.)
You on the other hand, had a 500k UIM/UM coverage.
Your insurnace company will pay you 500k.
His insurance company will pay you 300k. (Injury and your car value, It would be better in most cases to let your collision pay for the loss, and then hit up the UM for the max there as well, but the insurance company will be going after the other party to recover the money if you get a judgement, so it's not always going to work to your benefit.)
You can also sue the guy, and get a judgement for his assets, and a healthy chunk of that 500k per year income for the rest of your life.
Do you have enough coverage to protect your way of life? It's a good question.
Comprehensive:
This is for things you are not at fault for like rocks hitting your windshield, or a deer that jumps out in front of you, and commits seppeku on your grille. It can also cover vandalism, where somone keys your paint after you cut them off at 80mph on the freeway, and they decide that Karma is going to visit you this very day...
The are many exclusions, and commiting fraud is a crime people. Insurance adjusters are not idiots, and we see this type of stuff all the time, so keep yourself out of trouble, and understand that it's cheaper in the long run to just fix your car v/s trying to commit insurnace fraud to get it fixed... (Example is buying insurance after the fact.. you purchase your policy the same day you have your loss... I had this guy buy his insurance over the phone, from a pay phone at the hospital, WHILE HE WAS STILL TALKING TO THE POLICE OFFICER.. He was a real intelligent dude.. says to the officer that he has to call his "agent" to get his policy number, then calls to buy insurance, takes out a policy, gives that policy number to the PD and thinks he's fine.. We investigate, and realize what's going on, and I called the PD officer.. let him listen to the conversation.. He was so pissed at being duped, he went over and ARRESTED the jackass who did this along with writing him a ticket for no insurance coverage and being at fault for the loss ect. (Before this, he had not written a ticket for anything, even though the guy was a fault for the loss, his passenger was injured pretty bad, and I think the officer felt bad for the guy.) It is against the law to tell lies and decieve the PD. Keep that in mind
Why did I have to call the officer? I wanted to confirm the time he was there, and that he witnessed the guy buying his policy etc. (This way I can deny coverage for this loss, but the guy does have a valid insurance policy on his now totalled car.. dumbshit.)
Some policies have endorsements you can add for custom parts and equipment like stereo systems, rims, engine mods and other expensive things that change the value of your vehicle. (Example would be a 88 Supra with 6k in stereo equipment and upgrades to a vehicle with a value of about 3k at the most.... The policy would be for ACV on the vehicle with a rated amount of 3k, and have a CPE Endorsement for 6k.. So, if the car totalled out, they would pay ACV less whatever your deductible is, and 6k would be added to the value if you decide not to keep any of the stereo or other custom equipment on the car. )
Another option is called a "Stated or Agreed amount policy." This is where the insurance company agrees the stated amount is XX and they rate accordingly. Say 50k. You get up to 50k to repair, or replace the vehicle. This is very common on custom bikes, and boat policies. The catch is, the insurance company is going to get the salvage.. so if you have a 250k stated amount policy on a 750K boat.. and that boat is sunk in a hurricane.. You give up your rights to salvage when we pay you 250k. (And the salvage might end up being 500k.. Not common that the salvage is worth a whole lot more, but I've seen it happen.)
First a few things.
1) Every state has various laws that can be unique to that state. (Texas is a good example.)
2) Most insurance companies use what is called "Boiler plate" language in the policy, and it makes most policies similiar in most ways, but NOT ALL.
3) I hate terms like "Full coverage" etc. There are many options when you buy your policy, so it's going to change your rates depending on what you buy in any state.
Some terms common for most areas, and available on most insurance policies.
Liability:
This coverage protects you up to the limit of your stated amount if your vehicle is involved in a loss where your at fault, and would owe money to the other party.
Example. You have a Liability policy for 50k. You hit a Lambo. It totals the car. The insurance can pay up to 50k of what you owe. If the car is worth more than that, or the person who owns it will not agree waive recovery of more than 50k, then YOU get to pay the rest of the bill. (Cars and other property can be very expensive in the real world, and minimim required limits are generally not a good idea if you have very much property or other assets that could be lost if you are at fault, and do not have enough coverage to resolve the issue. What will happen is you get sued, lose, and then a judgement is made to give your property and assets away. IE: They take your house, your business, your investments etc. Worse, they can also garnish future wages.. so you pay for the rest of your life. Sounds fun eh?)
Collision:
This is tied to the insured vehicle, and pays for damage to the vehicle up to the limit of the policy, or the value of the car. (Most common is what is known as an ACV policy, or actual cash value. IE: your car is worth 10k, the insurance company will pay to repair the vehicle up to the point where it's cheaper to total it, and just pay you the value of the car. So, if your repairs cost 12k, and the car can be replaced for 9k, you get 9K less your deductible, even if the policy had a rated amount of 10k. Generally it's good to shop for rates every year, as the value of any car usually goes down, and the rated amount drops, so your rates drop accordingly on an ACV type collision policy.)
Most states are setup so your Collision coverage is primary on the listed vehicle, and secondary on non-owned vehicles you are using. IE: you rent a car while working out of town. Your own personal insurance policy covers the "non-owned" vehicle while you use it at the same levels of coverage you have, or whatever the state minimums are where you are currently located.
However, there are many conditions, and exculsions that can vary from state to state, and policy to policy. (As noted in Texas.) A very common one is that you HAVE NO COVERAGE WHEN YOU USE YOUR VEHICLE FOR A FEE. IE: You deliver the paper, or pizza. If someone pays you for gas to drive to a concert does not count, but if you work all day using your own car, and they pay you gas or money to use it, check with your agent, it's very likely that the insurance is not covering your vehicle while you use it that way. Most insurance companies sell commercial policies, and they can be configured to cover you while your not working, but you HAVE to have the commercial auto policy BEFORE you have the loss, or you are screwed. I personally have denied many claims on this alone. It sucks, but it is what the policy is designed to cover/exclude. In every single case, the Pizza place manager told the driver that they were covered under their own personal insurance policy, and it would be fine.. Yep, fine.. they are totally not insured. TOTALLY.
UM/UIM or Underinsured Motorist:
This pays YOU if the other party has no insurance, or they do not have enough insurance. Example would be you being hit while driving your R8, and it was totalled, and your left leg was amputated as a result of the loss. Your medical bills are 85,000.00 and you will be dealing with this for the rest of your life. The value of the injury claim alone is in the millions in some cases. The guy that hit you has a 500k house that he owns, two cars at 40k each, and 400k in other assets. He also owns a business that makes 500k per year. His insurance policy was for 300k Liab (Most states have 25k minimums.. it is insane.)
You on the other hand, had a 500k UIM/UM coverage.
Your insurnace company will pay you 500k.
His insurance company will pay you 300k. (Injury and your car value, It would be better in most cases to let your collision pay for the loss, and then hit up the UM for the max there as well, but the insurance company will be going after the other party to recover the money if you get a judgement, so it's not always going to work to your benefit.)
You can also sue the guy, and get a judgement for his assets, and a healthy chunk of that 500k per year income for the rest of your life.
Do you have enough coverage to protect your way of life? It's a good question.
Comprehensive:
This is for things you are not at fault for like rocks hitting your windshield, or a deer that jumps out in front of you, and commits seppeku on your grille. It can also cover vandalism, where somone keys your paint after you cut them off at 80mph on the freeway, and they decide that Karma is going to visit you this very day...
The are many exclusions, and commiting fraud is a crime people. Insurance adjusters are not idiots, and we see this type of stuff all the time, so keep yourself out of trouble, and understand that it's cheaper in the long run to just fix your car v/s trying to commit insurnace fraud to get it fixed... (Example is buying insurance after the fact.. you purchase your policy the same day you have your loss... I had this guy buy his insurance over the phone, from a pay phone at the hospital, WHILE HE WAS STILL TALKING TO THE POLICE OFFICER.. He was a real intelligent dude.. says to the officer that he has to call his "agent" to get his policy number, then calls to buy insurance, takes out a policy, gives that policy number to the PD and thinks he's fine.. We investigate, and realize what's going on, and I called the PD officer.. let him listen to the conversation.. He was so pissed at being duped, he went over and ARRESTED the jackass who did this along with writing him a ticket for no insurance coverage and being at fault for the loss ect. (Before this, he had not written a ticket for anything, even though the guy was a fault for the loss, his passenger was injured pretty bad, and I think the officer felt bad for the guy.) It is against the law to tell lies and decieve the PD. Keep that in mind
Why did I have to call the officer? I wanted to confirm the time he was there, and that he witnessed the guy buying his policy etc. (This way I can deny coverage for this loss, but the guy does have a valid insurance policy on his now totalled car.. dumbshit.)Some policies have endorsements you can add for custom parts and equipment like stereo systems, rims, engine mods and other expensive things that change the value of your vehicle. (Example would be a 88 Supra with 6k in stereo equipment and upgrades to a vehicle with a value of about 3k at the most.... The policy would be for ACV on the vehicle with a rated amount of 3k, and have a CPE Endorsement for 6k.. So, if the car totalled out, they would pay ACV less whatever your deductible is, and 6k would be added to the value if you decide not to keep any of the stereo or other custom equipment on the car. )
Another option is called a "Stated or Agreed amount policy." This is where the insurance company agrees the stated amount is XX and they rate accordingly. Say 50k. You get up to 50k to repair, or replace the vehicle. This is very common on custom bikes, and boat policies. The catch is, the insurance company is going to get the salvage.. so if you have a 250k stated amount policy on a 750K boat.. and that boat is sunk in a hurricane.. You give up your rights to salvage when we pay you 250k. (And the salvage might end up being 500k.. Not common that the salvage is worth a whole lot more, but I've seen it happen.)
Adjuster
Supramania Contributor
Part Duex.. The rates..
First, I'm not an agent, lawyer or anyone you can trust even. I have nothing to base any of this on other than my own personal opinion. I'm also not a medical professional, and you should be warned that using my advice is going wholly alone on your own personal opinon and views. (Leagal mumbo jumbo.. don't you hate this shit?) LOL
Rates are a science. Seriously. It's how companies either make money, or have losses.
Most insurance companies now consider your credit scores as part of your risk assesment.
They look at your age, gender, driving record, citations, training and many other factors.
Your health can affect your rates in some cases too.
Many traditional rating conditions have been used over the years, and you can be sure they will drill down new ideas and generate new rate policies for various drivers in the years to come.
What I'm getting at is EVERY COMPANY IS DIFFERENT. Shop around. It pays as the same coverage limits/conditions can cost very different amounts of money from company to company.
There are some considerations however. Some companies are known to pay out even when there is no coverage, and when they are paying too much.. I will not mention State Farm... LOL
I will also not mention that Progressive is known to be fast with claims, but strict with coverage. And I will not tell you that Allstate claims department is hated by everyone they deal with. (Does not matter if you are their insured, or a claimant they SUCK and they are mean.)
Some companies have local agents, and some sell direct over the phone and internet.
Some companies have local adjusters, and some use independants.
WTF is an adjuster you asK? Or even an agent for that matter?
Agents SELL you the policy. (They can also help you find the amount of coverage you need, and suggest ways to cover all the small details you might miss when purchasing the policy, but want when there is a loss...)
Adjusters use that policy to provide coverage when you have a loss, or use it to deny coverage when you don't have any due to exclusions or fraud. We deal with the repairs, the disposal of salvage and injuries to the people involved in the loss.
A "Claim" is generated when you have a "Loss." (File is created when you crash.)
Generally, the claim is assigned an adjuster, or team of adjusters, and there are people who specialize in PD (Property damage) or Cas... (Casualty.. or the injury side of things.)
There is a whole alphebet soup of crap you get to deal with, and that often ends up being used in the real world too..
LIAB, WOD, PD, COMP, AFP, NI, CD, CGP, IGP, PED, LEO, NB, SB, WB, EB, ACV, SAP, AAP, RATE BASE, UMPD, UIM, UM and so many others..
My favroite note is LFTMSGTCB.. This is left message to call back... LOL
After 13+ years now in this business, I have started dreaming in codes... It's disgusting. (One night I woke up to my wife laughing.. she says I was talking in my sleep, says I kept asking for the POA so we could process the salvage on these.. Pillow cases.. I was pretty adamant about it too she says... LOL POA is Power of Atty, and alows you to sign off on the paperwork to sell the salvage.. in this case, to dispose of the pillow cases... LOL)
I invented WOD however.. It's Wave of Death.. the nice friendly little wave, when your waiting to make a left, and traffic backs up on a multilane street.. SO the nice driver of the car that stopped and left you room to turn infront of them, politely gives you the WOD... And you turn, and WHAM! Your struck by the traffic that is still moving in the other lanes...
Guess what? You are at fault for making a left without yielding.. (This BTW is called FTYROW, results in a new loss, 09, BI, IPC and possible TL with resulting SALV needing a POA of course...) (Anyone who's in this, might be able to guess who I work for now.. LOL)
Anyway, back on rates, it's all about who you are, how old you are, and how you live your life. Are you a risk taker, or not?
Your rates will reflect that more than anything. (Think about this.. boys risk more than men.. girls risk more than women.. experience teaches people to be better at dealing with risk, so as you age, you become a better driver, but then as you get too old, you loose physical ability to drive, and become dangerous again, so your rates go up again as you get old... Sucks eh.)
On a more happy note, the rates should be going down all over the country in the next few years if the trends are any indicator of what's going on.
Right now, there is a drop in accident frequency that nobody can understand. Seriously, this has insurance companies confused, and they are starting to react. (They will reduce workers first, possibly lower rates, and revise other details to follow the market movement.)
It started on 911.. and has trended down with a significant spike down in the past few months with the higher priced fuels. By significant, I mean our claims volume is DOWN people. Seriously down. Down, down down... Did I mention that fewer people are crashing their cars?...
Or it could be this.. Fewer people are insured as they dropped coverage to pay for fuel.. We are not sure. The amount of traffic on the highways is down significantly, but the amount of policies is also down. And the amounts of coverage being taken out is down too.
Now, I'm not an guy that works with rates and policies.. I'm the dude that teaches adjusters how to repair the vehicles, and deal with the customers... (But, as I've noted, there are few claims right now to deal with.. It's nuts.)
Before you all stand up an dance a jig.. think about this.. The automotive industry is a huge part of our economy. Making, selling, repairing, insuring and fueling our vehicles drives the American economy in so many ways it's not even possible for me to list them all here. But as the losses stop, so do the repairs at your local body shops... SO they do not buy paint and sand paper.. so the 3M and Sikkens guys go under.. and the dominoes continue to fall....
Is this an indicator of Atlas starting to shrug? Or just a tremor..
First, I'm not an agent, lawyer or anyone you can trust even. I have nothing to base any of this on other than my own personal opinion. I'm also not a medical professional, and you should be warned that using my advice is going wholly alone on your own personal opinon and views.
(Leagal mumbo jumbo.. don't you hate this shit?) LOLRates are a science. Seriously. It's how companies either make money, or have losses.
Most insurance companies now consider your credit scores as part of your risk assesment.
They look at your age, gender, driving record, citations, training and many other factors.
Your health can affect your rates in some cases too.
Many traditional rating conditions have been used over the years, and you can be sure they will drill down new ideas and generate new rate policies for various drivers in the years to come.
What I'm getting at is EVERY COMPANY IS DIFFERENT. Shop around. It pays as the same coverage limits/conditions can cost very different amounts of money from company to company.
There are some considerations however. Some companies are known to pay out even when there is no coverage, and when they are paying too much.. I will not mention State Farm... LOL
I will also not mention that Progressive is known to be fast with claims, but strict with coverage. And I will not tell you that Allstate claims department is hated by everyone they deal with. (Does not matter if you are their insured, or a claimant they SUCK and they are mean.)
Some companies have local agents, and some sell direct over the phone and internet.
Some companies have local adjusters, and some use independants.
WTF is an adjuster you asK? Or even an agent for that matter?
Agents SELL you the policy. (They can also help you find the amount of coverage you need, and suggest ways to cover all the small details you might miss when purchasing the policy, but want when there is a loss...)
Adjusters use that policy to provide coverage when you have a loss, or use it to deny coverage when you don't have any due to exclusions or fraud. We deal with the repairs, the disposal of salvage and injuries to the people involved in the loss.
A "Claim" is generated when you have a "Loss." (File is created when you crash.)
Generally, the claim is assigned an adjuster, or team of adjusters, and there are people who specialize in PD (Property damage) or Cas... (Casualty.. or the injury side of things.)
There is a whole alphebet soup of crap you get to deal with, and that often ends up being used in the real world too..
LIAB, WOD, PD, COMP, AFP, NI, CD, CGP, IGP, PED, LEO, NB, SB, WB, EB, ACV, SAP, AAP, RATE BASE, UMPD, UIM, UM and so many others..
My favroite note is LFTMSGTCB.. This is left message to call back... LOL
After 13+ years now in this business, I have started dreaming in codes... It's disgusting. (One night I woke up to my wife laughing.. she says I was talking in my sleep, says I kept asking for the POA so we could process the salvage on these.. Pillow cases.. I was pretty adamant about it too she says... LOL POA is Power of Atty, and alows you to sign off on the paperwork to sell the salvage.. in this case, to dispose of the pillow cases... LOL)
I invented WOD however.. It's Wave of Death.. the nice friendly little wave, when your waiting to make a left, and traffic backs up on a multilane street.. SO the nice driver of the car that stopped and left you room to turn infront of them, politely gives you the WOD... And you turn, and WHAM! Your struck by the traffic that is still moving in the other lanes...
Guess what? You are at fault for making a left without yielding.. (This BTW is called FTYROW, results in a new loss, 09, BI, IPC and possible TL with resulting SALV needing a POA of course...) (Anyone who's in this, might be able to guess who I work for now.. LOL)
Anyway, back on rates, it's all about who you are, how old you are, and how you live your life. Are you a risk taker, or not?
Your rates will reflect that more than anything. (Think about this.. boys risk more than men.. girls risk more than women.. experience teaches people to be better at dealing with risk, so as you age, you become a better driver, but then as you get too old, you loose physical ability to drive, and become dangerous again, so your rates go up again as you get old... Sucks eh.)
On a more happy note, the rates should be going down all over the country in the next few years if the trends are any indicator of what's going on.
Right now, there is a drop in accident frequency that nobody can understand. Seriously, this has insurance companies confused, and they are starting to react. (They will reduce workers first, possibly lower rates, and revise other details to follow the market movement.)
It started on 911.. and has trended down with a significant spike down in the past few months with the higher priced fuels. By significant, I mean our claims volume is DOWN people. Seriously down. Down, down down... Did I mention that fewer people are crashing their cars?...
Or it could be this.. Fewer people are insured as they dropped coverage to pay for fuel.. We are not sure. The amount of traffic on the highways is down significantly, but the amount of policies is also down. And the amounts of coverage being taken out is down too.
Now, I'm not an guy that works with rates and policies.. I'm the dude that teaches adjusters how to repair the vehicles, and deal with the customers... (But, as I've noted, there are few claims right now to deal with.. It's nuts.)
Before you all stand up an dance a jig.. think about this.. The automotive industry is a huge part of our economy. Making, selling, repairing, insuring and fueling our vehicles drives the American economy in so many ways it's not even possible for me to list them all here. But as the losses stop, so do the repairs at your local body shops... SO they do not buy paint and sand paper.. so the 3M and Sikkens guys go under.. and the dominoes continue to fall....
Is this an indicator of Atlas starting to shrug? Or just a tremor..
I always thought it was kinda silly boys had to pay more than girls... Where did these statistics come from? Back before girls were allowed to drive? Of the kids at my school I know, nearly all off the girls have either been in a fender bender or gotten a ticket for something. I know of four guys out of a much larger pool than the girls that have gotten anything other than a seat belt ticket, and a handful have been in a wreck. Someone needs to take some new statistics.
$100 even a month, red 89 turbo targa five speed. 17, one minor accident, no reported tickets, full coverage $500 deductible. Low risk area.
$100 even a month, red 89 turbo targa five speed. 17, one minor accident, no reported tickets, full coverage $500 deductible. Low risk area.
Quin;1141831 said:
As far as i know. it is now illegal for insurance companies to adjust rates based on location..i know this is a law in california but i do not remember if it is federal.
^ I had my agent check rates for me a few weeks back, he said the company I was with was by far the cheapest 'in my area'... IIRC, there was a small change in premiums when I moved from my apartment to a house in a different zip.
Nomad707;1141906 said:
Huh? Why on Earth would that be illegal? Makes perfect sense to me that a car in Downtown L.A. is a MUCH higher risk than one 50 miles outside Fargo, North Dakota...