They're so...so...ugh, I hate them and everything about how they work. So shady and selfish.
2006-10-04 16:01:10 · 9 answers · asked by Anonymous in Business & Finance ➔ Insurance
Is there even an answer to this? Or are they just part of many screwy things in this world
2006-10-04 16:03:48 · update #1
insurance companies are not so much screwy as they are unscrupulous. They hope to pay as few people as possible and in many cases they are successful in denying payments that should be allowed but they way things are set up, everything seems to go agains the consumer.
Again - why do we allow this travisty, why don't we do something, what can we do to regular, really regulate, insurance companies? So that they are more fair to the people, again, who are paying their salaries....
2006-10-04 16:16:03 · answer #1 · answered by Goodmomma1 3 · 1⤊ 1⤋
Then why don't we just do away with it altogether.
That way when you get sick and don't have any money to pay the doctor, you can just die.
Or when you get into an accident and hurt somebody, they'll just take all your money and everything else you own.
Or when a tornado blows down your house, you'll be penniless and homeless.
Or worse yet, when somebody else hits you in your car and they don't have insurance and the accident was their fault, you can try to get something from them.....but if they don't have anything....you can lose your house and money to pay your own doctor bills.
No I guess there really is no need for insurers.
Let's get rid of them all.
Really if you've got a problem with a claim or an insurer, why don't you just learn how they operate and work with the system to get what you want instead of complaining about why things aren't going the way you think they should.
There's usually a good reason why and its not because they are shady, selfish or otherwise screwy.
Learn how to appeal and how to use the regulators to help you rather than try to bash insurers with a broad stroke.
2006-10-04 17:07:35 · answer #2 · answered by markmywordz 5 · 2⤊ 1⤋
Insurance companies are, for the most part, publically traded. That means, if they can't make a profit, they go out of business. They are NOT a governmental assistance program. They sell a product, and HAVE TO MAKE A PROFIT. If they make a GOOD profit, the stock shares go up in price. If they lose money, the stockholders get mad.
It's just like any other business - like a retail store. Selfish, yes. That's the way it works! Would YOU buy stock in a company where you know the price keeps going down, and it would never pay a dividend? Of course not!!
2006-10-05 01:39:35 · answer #3 · answered by Anonymous 7 · 1⤊ 0⤋
Since you have provided no details, it is difficult to answer. Did they give you a partial payment with full payment upon replacement of the items? That is how companies usually pay. Also, how long has it been - you have a certain period to replace things.
Those who have written that the insurance industry is a business are right. They do have to make money. Unfortunately, most people do not read their policy to see what it covers - the just assume it covers everything. On the whole, I think the industry trieds to do the right thing.
If you have complaints, you can take it up with the insurance commisioner of your state.
2006-10-05 02:56:47 · answer #4 · answered by mei-lin 5 · 0⤊ 0⤋
Insurance is different than any other product, it has to be priced before the seller knows what the ultimate cost will be. They only can make their best guess and collect information on their experiences as they go.
Most people will seek out cheap insurance from carriers that are not rated very highly and then are surprised when they aren't happy with their service.
It is within an insurer's best interest to behave responsibly - what with all the regulations and government watchdogs on duty at all times.
If we were without the insurance industry - our economy would cease to exist as we know it.
2006-10-04 18:12:54 · answer #5 · answered by just visiting 5 · 1⤊ 0⤋
Well my husband and I are sueing our insurance company because they won't pay for our replacement we paid for in our policy for years. And this is our first major claim too. So they just out for your money, believe me. And alot of people know this probably, but they get a big bonus at the end of every year, when they don't pay out as much as they are allowed. Example.... If you have a claim and it is worth say 10,000 and they give you 5,000. then they get a big bonus, and most people just settle for the 5,000, and say thats better than nothing. But stick to your guns. they owe you what they owe you.
2006-10-04 16:17:09 · answer #6 · answered by babylove 2 · 1⤊ 1⤋
well, if ya told us what you meant by screwy, we might be able to help you.
If you try and be more specific in what your problems are i'm sure that someone here would have a clue......
everyone already knows insurance companies are screwy.....!
2006-10-04 16:12:32 · answer #7 · answered by tg315 5 · 1⤊ 1⤋
It's a joke. They use every loophole they can to not pay off. Health insurance, liability, workers comp, house insurance, you name it, all of them are set up to take your premiums and NOT pay out if they can help it.
2006-10-04 16:09:30 · answer #8 · answered by Just Ducky 5 · 1⤊ 2⤋
You're not being specific enough for anyone to really answer. Sorry.
2006-10-04 16:09:09 · answer #9 · answered by Lynn S 3 · 1⤊ 1⤋