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I just paid my 6 month premium, thankfully I only pay about $1200 per year, but still I could think of better ways to spend that money. In my entire driving career (about 27 yrs now), Ive had 1 accident, it was in a no fault state, a driver on a side street pulled out in front of me on a major road, they were in the wrong, no one hurt, caused about $3000 damage to my car, but I was able to completely fix it for under $400. and used the remainder of the money for other things, totally unrelated to the car. the damage was very light actually, just a small portion of the front passenger side of the car. I was amazed they came up with $3K as the total!
So with my accident, it would have better for everyone if we just left insurance out of the picture altogether, the guy at fault could have just paid me $400 so I could get my car fixed and he would not have to deal with a rate increase for years and years. While the extra $2600 was great at the time, it was WAY too much for the actual damage to the car.
I know why its mandatory, but for some reason, I dont think its right that insurance companies should be 'for profit'. Its interesting that only 2-3 states do not have mandatory car insurance, I would like to see why those states have resisted when everyone else has it.
In Mexico insurance is not mandatory but if you cause an accident you have to pay to fix the other car right away. Repair costs are a fraction of what they are here.
We have overpriced collision shops that profit off the whole car insurance system. I agree we need to make big changes.
I just paid my 6 month premium, thankfully I only pay about $1200 per year, but still I could think of better ways to spend that money. In my entire driving career (about 27 yrs now), Ive had 1 accident, it was in a no fault state, a driver on a side street pulled out in front of me on a major road, they were in the wrong, no one hurt, caused about $3000 damage to my car, but I was able to completely fix it for under $400. and used the remainder of the money for other things, totally unrelated to the car. the damage was very light actually, just a small portion of the front passenger side of the car. I was amazed they came up with $3K as the total!
So with my accident, it would have better for everyone if we just left insurance out of the picture altogether, the guy at fault could have just paid me $400 so I could get my car fixed and he would not have to deal with a rate increase for years and years. While the extra $2600 was great at the time, it was WAY too much for the actual damage to the car.
I know why its mandatory, but for some reason, I dont think its right that insurance companies should be 'for profit'. Its interesting that only 2-3 states do not have mandatory car insurance, I would like to see why those states have resisted when everyone else has it.
Absolutely.
Nobody else wants to have to pay for other people's accidents.
I was in a 3-car accident about 20 or so years ago. I was the front car. There was a middle car, and there was the car in back, who slammed into the middle car, that then slammed into me.
Guess which one didn't have insurance? Yep. The last car. And, she spent all her time crying about how much trouble she was going to be in because she couldn't afford to get her car fixed and her dad was going to be upset that she let her insurance lapse.
Meanwhile, the middle car, containing a woman and her teenage daughter, was hit pretty hard and the mom seemed like she might have whiplash.
I got hit hard by their car and wound up breaking all my fingernails on the dashboard and had a seatbelt bruise across my neck for a few weeks.
This was also the accident that started the neck/shoulder problems that I still have to varying degrees right now.
Yes. People need insurance. Unless they want to drive offroad, away from all other human beings, animals, and other people's property or they are independently wealthy and self insured, of course.
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Duh! And if that uninsured person gets in an accident and kills someone they'll be going to jail too! At least in my state and hopefully most!
How would it help you? You won't get any reprieve, he won't be paying you no money from jail, and you will have to pay for his upkeep through your taxes...
I just paid my 6 month premium, thankfully I only pay about $1200 per year, but still I could think of better ways to spend that money. In my entire driving career (about 27 yrs now), Ive had 1 accident, it was in a no fault state, a driver on a side street pulled out in front of me on a major road, they were in the wrong, no one hurt, caused about $3000 damage to my car, but I was able to completely fix it for under $400. and used the remainder of the money for other things, totally unrelated to the car. the damage was very light actually, just a small portion of the front passenger side of the car. I was amazed they came up with $3K as the total!
So with my accident, it would have better for everyone if we just left insurance out of the picture altogether, the guy at fault could have just paid me $400 so I could get my car fixed and he would not have to deal with a rate increase for years and years. While the extra $2600 was great at the time, it was WAY too much for the actual damage to the car.
I know why its mandatory, but for some reason, I dont think its right that insurance companies should be 'for profit'. Its interesting that only 2-3 states do not have mandatory car insurance, I would like to see why those states have resisted when everyone else has it.
What would you have done had the accident been more severe? Say it put you in the hospital for a month with many more months of therapy. Oops, now neither you or the other driver have insurance since it was no longer required. So, now YOU have a 6 figure hospital bill and the guy that hit you doesn't have a pot to **** in. What then?
As for your actual accident, YOU chose to go through insurance for the repair. If you wanted, you could have done the repair and have him cut a check for 400 bucks. Again though, what if he didn't have the 400 bucks?
To ultimately answer your question, yes insurance should be required without a doubt. Way too many broke, moron drivers on the road.
How would it help you? You won't get any reprieve, he won't be paying you no money from jail, and you will have to pay for his upkeep through your taxes...
Thats true, something I never thought about, once he goes to jail, he can longer earn enough to pay anyone, and ultimately the taxpayers have to spend the money to house him for how ever many years he gets...something about that doesnt seem right.
I think insurance should be structured differently. I have been driving for 25 years and have been paying insurance premiums for 25 years and have yet to make a single claim. I cant imagine how much money I have paid over the years in insurance. There have even been a couple of times where I could have gone through insurance but opted to pay out of pocket so that my annual premium would not go up. I would rather pay a little out of pocket and be done with it than a higher monthly premium for an unknown amount of time. I am also in NH where insurance is an option but I feel that having it is the right thing to do.
I think insurance should be structured differently. I have been driving for 25 years and have been paying insurance premiums for 25 years and have yet to make a single claim. I cant imagine how much money I have paid over the years in insurance. There have even been a couple of times where I could have gone through insurance but opted to pay out of pocket so that my annual premium would not go up. I would rather pay a little out of pocket and be done with it than a higher monthly premium for an unknown amount of time. I am also in NH where insurance is an option but I feel that having it is the right thing to do.
exactly, most of your money has been going directly to their profits, for providing nothing to you at all.
I chose the wrong line of work in life, I should have went into insurance, its almost guaranteed to be profitable. I can not think of any insurance company that ever went into bankruptcy or had to close up shop.
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