Insurance Company Slime
A post at the Moderate Voice caused me to consider this. An insurance company is going to court to stop having to pay benefits because they are too expensive. Apparently an AIDs victim has lived too long. What crap!
Though this is much more gruesome, at it's heart, it's not much different than car insurance.
Your car insurance premiums are calculated based on the statistical chance of a claim. That's fine and good.
What I never understood is that the insurance company raises your rates if you do have a claim. Wasn't the cost of that claim built into the rate in advance? If you've ever done the calculations, you'll find your rate increase will pay the company back within a couple of years.
I guess I just need to buy me a couple of politicians to pass regulations that guarantee me a profit! Mr. Abramoff, where are you when I need you?
Though this is much more gruesome, at it's heart, it's not much different than car insurance.
Your car insurance premiums are calculated based on the statistical chance of a claim. That's fine and good.
What I never understood is that the insurance company raises your rates if you do have a claim. Wasn't the cost of that claim built into the rate in advance? If you've ever done the calculations, you'll find your rate increase will pay the company back within a couple of years.
I guess I just need to buy me a couple of politicians to pass regulations that guarantee me a profit! Mr. Abramoff, where are you when I need you?
posted by CWhite at 1/24/2006 06:52:00 PM
4 Comments:
The link's broke.
However, based on what you've already said, the reason your insurance premiums go up after you have a wreck is, people who have one wreck are more likely to have another one than people who don't. Go figger, eh?
So am I to assume that I pay those premiums just to keep my drivers license?
Are you telling us that the premium does not include the statistical possibility of an accident? C'mon, get real.
car insurance premiums are calculated based on the statistical chance of a claim. That's fine and good.
http://carinsurance1.co.uk/
Your idea is very good
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