Is this fair?

Question

In states that have mandantory laws to keep auto insurance, Shouldn't it be a mandantory law for insurance companies to have a basic low rate for drivers that can't afford the outragous prices that insurance companies charge you? I know insurance rates have more than tripled the rates of basic insurance since these laws have passed! Let's get together and do something about it!!! I'm not speaking of drunk drivers that abuse their privelage, But the average working man, woman that can use that money for groceries or to pay everyday bills ect. Im MAD!!! This just is not right!! Do you aggree?

Answer 1

Sorry, but driving is not a right, but a privilege. Now, the reason the basic rates have increased, is that the risk has increased by the larger pool of "bad" drivers.

If you have a "bad" driving record (not sure what that means, but to insurance companies, that can be risk factors such as age, gender, location, and then driving history) you will have much higher rates than others. If you have not had insurance previously, you will automatically be put into a "high risk" category (because insurance carriers will not have previous accident histories, and you could have been in a ton of accidents without tickets).

Insurance companies are out to make money, so your job is to look and find a company that will provide the insurance you need, and still be affordable.

Frankly, the other way to look at it, is that this way you know that when you get rear ended, and end up hospitalized, the other driver will have coverage to pay your bills and lost wages (plus, of course, pain and suffering, etc.).

Good luck.

Answer 2

I lived in a state for over 10 years that did not require insurance. When laws passed (late 90s) requiring insurance - my rate actually went down.

Rates do continue to increase every year (if not month). It does not seem fair. But cars are more expensive now - and accidents cost more. Insurance companies need to be profitable in order to continue being in business. It's hard to remember that driving is a privilege and not a right. Privileges have a price.

I think there is a bigger issue - - -people who do everything correct end up paying for those who do not.

Answer 3

No I don't agree. You are asking all the other insured to pay the bills for those who only can afford the basic insurance. Just another cost transfer from one group of workers to another. Insurance will not operate at a loss and the difference will be made up by all the other consumers, who are already paying their own high utility and gas bills and are also subsidizing the utility bills of the "poor". Where does it end. People living paycheck to paycheck, even if it is a good paycheck cannot afford to pay their bills and your bills too. Outrageous that you should ask for this, from your harder working neighbors.

Answer 4

Obviously you're not paying your lobbyists nearly as much as the insurance industry is paying theirs'. Unless you have enough money to at least rent a lowly junior congressman, let alone out and out buy your own US Senator, you have no voice. The law is written by men and women beholden to the powers that put them in that position, and that means for the people with money. Read between the lines - you know, a country of the lawyers, for the lawyers, by the lawyers. You, the lowly taxpayer, exist to provide a financial stream for them. Grumble too much and they'll audit you. Grumble some more and they'll assign you your own IRS agent and then send you the bill.

Get with the program dude. This is the good 'ol USA. We have the best government money can buy.

Answer 5

for 1 thing you or nobody can do nothing about it. And your right, but remember this country is changeing every day and none of the rich care about the poor they just want to get richer becouse of there lifestyle they need more more more so they can live better so when the law started A light bulb went ff above there head and know they are making 4X's what they were making before the law.check out BP oil they will make out like fat rat's you'll see

Answer 6

Well to start with insurance rate is regulated by the state you live in as far as liabilty and collision is based on the value of the car so therefor there is a regulation if your not satisfied with the rates your state has set then move or buy a lesser value car.. thank you and have a nice day

Answer 7

it is hard, especially since they now use your credit score to increase by 100-300% over others with the same driving record and car.

Mandatory insurance though is a good thing. Up to half of drivers on TX roads are uninsured. They hit me, I lose big time. They are taking cars now that are in accidents if they dont have insurance.

Answer 8

try geico.
the reason insurance for all things keep going up is too many claims. They need to check for more fraudulant claims. it's horrible that us honest people have to pay for others that screw it up. Why do you think doctors charge so much? they dont want to, but when they are paying over 100,000 a year for malpractice insurance, they need to make it back somewhere. same thing with auto insurance. if you get hit by someone who doesnt have insurance and you have collision, your company will pay for it, so they need to get that money back right? so your rates go up...not fair. dont even get me started..LOL

Answer 9

I thought some states did have a bare bones option. I think my state does.

In anycase, I'm for less govenment. I think it should be a states issue. Not fed.

Answer 10

Insurance is a scam. You are absolutely right.