Cost of Auto Insurance in Tampa (Area) (Spring Hill: college, DMV)

[tinytrump]

I told the last ins. quote Company, my next call was to Wally World to see if I can get cheaper ins. from China. Will it come to that?? I hope not.

[algia]

I completely agree! Personal credit has NO BUSINESS being checked when buying car insurance. It is A RIPP OFF;...... and YES It is unimaginable as to why people stand by and allow themselves to be screwed like this! Nowhere else this would fly!

Originally Posted by tinytrump

WELL to add more to the injury of having to pay for auto insurance, if your credit is iffy you will pay out even more, personally I think this should be totally illegal as it should be based on your driving record. If you do not pay they cancel you- so what's the problem? There is NO reason to charge more, and not like credit- YOU must have it to drive. The in.s have NO clue why the credit might be iffy. Identity theft, you came for a tornadoe state that drove you out of house n home, some oen dies or gets sick and now you are the only breadwinner... it does NOT make you scum to have to pay more,, JERKS-- A RIP OFF and we allow it.

[Pragmaticus]

Originally Posted by algia

I completely agree! Personal credit has NO BUSINESS being checked when buying car insurance. It is A RIPP OFF;...... and YES It is unimaginable as to why people stand by and allow themselves to be screwed like this! Nowhere else this would fly!

Insurance company can use what ever indicator they think help them guess about the driver. Progressive has the snop shot option that they can give you discount based on how eratic you drive, for how long, and at what time. If you ask me as a consumer, I don't like it as it is getting into my "air space." But from business point of view, that is infact very smart way.

People who cares about their credit tend to be responsible guys that are usually out of trouble. There is a discount for having a post graduate degree too..

So, things that may not make sense to you can be statistically demonstrated to be a good indicators people behavor and the business of insurance is just a number crunching game and risk analysis. Every insurance company is working day and night on finding ways to identify good drivers.

[seain dublin]

Thanks for attaching those articles, just helped prove my point.

BTW those articles are a few years old. The percentages have gone up.

And Leftee is correct when you add in those who are underinsured.

It's pretty scary that the 4th most populated state in the nation has so many uninsured on the roads, so when people are shocked about their car inusurance this is why.

You have to pay for all those who get away with not being insured here.

It's amazing how if their car was impounded how they would scrape together some money for insurance, but when you never lose the vehicle there is no real incentive to get insurance.

Originally Posted by Spring Hillian

Do you have anything that supports 40 percent or above?


One in four Florida drivers doesn't have insurance, industry research says - Sun Sentinel

Florida Has Among Highest Uninsured Motorists Rates in the U.S.

[Ryan_M]

Just curious... is insurance mandatory in FL? When I was there a few weeks back I heard a few radio commercials, that had some cash deal for people with no insurance. I realize they make up a good portion of the drivers there but if it is illegal to drive without insurance, they're pretty open about it.

[tinytrump]

Originally Posted by MeInDenudinFL

Insurance company can use what ever indicator they think help them guess about the driver. Progressive has the snop shot option that they can give you discount based on how eratic you drive, for how long, and at what time. If you ask me as a consumer, I don't like it as it is getting into my "air space." But from business point of view, that is infact very smart way.

People who cares about their credit tend to be responsible guys that are usually out of trouble. There is a discount for having a post graduate degree too..

So, things that may not make sense to you can be statistically demonstrated to be a good indicators people behavor and the business of insurance is just a number crunching game and risk analysis. Every insurance company is working day and night on finding ways to identify good drivers.

Several years ago I worked for a major insurance broker,, major- and over 5000 were laid off due to price rigging, and yes- they do look for betters drivers- but honey it is ALL about the profits,,, not people. It was a very sweet job, but very very crooked,,, but in a way that just keeps them legal. Having good credit does not always mean you are responsible. I have met many a drunk who was responsible because they had money. So much for paper, but tell this to the victims of the last tornado, who lost all, and now must file for bankrupcy,,,, they werent responsible??-- give me a break! The credit bureaus are meant to keep people down once they fall... they should only be used for obtaining credit not to profile people.

[Pragmaticus]

Originally Posted by tinytrump

Several years ago I worked for a major insurance broker,, major- and over 5000 were laid off due to price rigging, and yes- they do look for betters drivers- but honey it is ALL about the profits,,, not people. It was a very sweet job, but very very crooked,,, but in a way that just keeps them legal. Having good credit does not always mean you are responsible. I have met many a drunk who was responsible because they had money. So much for paper, but tell this to the victims of the last tornado, who lost all, and now must file for bankrupcy,,,, they werent responsible??-- give me a break! The credit bureaus are meant to keep people down once they fall... they should only be used for obtaining credit not to profile people.

I think you are missing my point and we (I mean you and me) are talking about two different things. You are citing anecdotes while I am talking about how in general insurance companies maximize their profit, that is by keep looking for good drivers on average (on a statistical sense) and betting on them they will not screw them and for that they use all kinds of criteria to help them achieve their goal. I hope you are not saying people who have good credit are in general (the odds are higher) good drivers. If that is the case, the data just doesn't support you and it end up being just your opinion and not fact. You can just get this conclusion by looking at the correlation and test for the significance of it. Then they go and look to some other crazy sounding (for some) indicator variable and test again its significance. If it works, then you have another parameter to give discount to people or jack up to others. Then the cycle continues and you keep hearing discount for this discount for that. That is a simple operational research. Ever been to casino? They make money because they have their high odds. Doesn't mean that some one can't beat them (like your tornado example). But in genral the more you play, they keep beating you.

While the case you cited about people falling into hard time by no fault of theirs (I feel sorry for them) is compelling, it simply is a tiny fraction of the consumers that insurance companies try to figure out in terms of good drivers. Bottom line is insurance companies make money by betting that the odd of you making a bad judgment and hence, cost to them, is smaller and they keep your premium. In order to bet on YOU, they look at different parameters that says you MAY be a good driver and of thousads of them credit score is one of them--whew!

[Spring Hillian]

Regardless. Nothing supports your 40 percent figure, not even close.

The info is the latest available statistics.

As far as under insureds go, that is why we have an option for UM coverage. Takes care of that problem.

Originally Posted by seain dublin

Thanks for attaching those articles, just helped prove my point.

BTW those articles are a few years old. The percentages have gone up.

And Leftee is correct when you add in those who are underinsured.

It's pretty scary that the 4th most populated state in the nation has so many uninsured on the roads, so when people are shocked about their car inusurance this is why.

You have to pay for all those who get away with not being insured here.

It's amazing how if their car was impounded how they would scrape together some money for insurance, but when you never lose the vehicle there is no real incentive to get insurance.

[Spring Hillian]

The incentives to have insurance is simple.

You can't register your vehicle and get plates without insurance.

Should you cause an accident you will get sued for everything you have including future earnings
depending on the damages to the other party.

You cannot renew your tag without insurance.

If you are stopped with driving without insurance, they arrest you.

It is irrelevant what happens to the car, it didnt break the law, the driver did. Wouldn't one think that with such a high population the odds of having more uninsured motorists
is higher?

Let's face it, the 40 percent uninsured rate you stated is a fantasy.

Originally Posted by seain dublin

Thanks for attaching those articles, just helped prove my point.

BTW those articles are a few years old. The percentages have gone up.

And Leftee is correct when you add in those who are under insured.

It's pretty scary that the 4th most populated state in the nation has so many uninsured on the roads, so when people are shocked about their car inusurance this is why.

You have to pay for all those who get away with not being insured here.

It's amazing how if their car was impounded how they would scrape together some money for insurance, but when you never lose the vehicle there is no real incentive to get insurance.

[Soup Not See]

Originally Posted by Spring Hillian

The incentives to have insurance is simple.

Obviously, 25% of Florida drivers don't believe in your "incentives".

You can't register your vehicle and get plates without insurance.

So what, people register their cars once and then drop their insurance. After their registration expires, they drive with expired tags. They just don't give a sh*t.

Should you cause an accident you will get sued for everything you have including future earnings depending on the damages to the other party.

There's a direct correlation between income levels and those driving with no or minimal insurance.
Do you really think these folks care if they get sued. Can't get blood from a rock ...

You cannot renew your tag without insurance.

So, just don't renew ...

If you are stopped with driving without insurance, they arrest you.

25% of Florida drivers take that chance every day ... do you honestly think the police are actively seeking them out ? If they were, the rate would be dropping ...

It is irrelevant what happens to the car, it didnt break the law, the driver did. Wouldn't one think that with such a high population the odds of having more uninsured motorists is higher?

It has nothing to do with the number of people in the state, but the quality/ethics of the people. Why does Massachusetts have just a 1% rate of uninsured motorists ? Quite a few people live there ...

Let's face it, the 40 percent uninsured rate you stated is a fantasy.

Yeah right, just like the national unemployment rate is really ~8% ...