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Insurance Company Ripoffs???

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  • Insurance Company Ripoffs???

    Cant believe what those Insurance companies can get away with> Had my home policy go up suddenly 1000 (yup a thousand dollars a Year) Ariva Insurance. They really suck, I never had a claim in 20 Years, Well too late for one now with them, Thought there was some type of regulatory board that overseas bull.... like this?? Oh well guess they dont have nuff money , Thing that really pisses me is i want to get my bike out again this summer, Thinking of a tour down to Georgia>> Insurance is ridiculous, I been riding sin\ce a kid now 52 no accidentsm I raced Bikes (yup accidents) and used to insure the Ducati 900 SS for 304 dollars a Year, Now its like $1416 a year and thats just PL PD no fire or theft , I think its Crazy . I only ride old Jap stuff 1150 suzukis? You wouls think they would be cheaper?

  • #2
    You need to do some shopping. The insurance for my Harley, same type of coverage you had, is $125. a year. It is with the same company that has my house and cars but on a separate policy.


    • #3
      Insurance companies operate by their own rules.

      Insurance was actually dreamed up by a group of money grubbing crooks who realized most Americans don't want to take responsibility for their own mistakes. Eventually, they got enough fellow crooks into state and federal government, and made insurance mandatory.

      You take out an insurance policy on your car, your house, or your life. You pay into it with the promise that "if something happens" you'll be covered.

      Unfortunately, the insurance people not only set the rate you pay, but the amount they have to pay out, and what they'll pay for.

      Hospitals and doctors realized this a long time ago, and jacked their rates up so that no matter how little insurance companies paid, they would make money. Auto body shops did also. The average guy on the street could not afford to pay for body work "out of pocket" because body shops are trying to make a buck on the insurance industry. It's a vicious cycle....Insurance don't want to pay. Body shops "adjust" their rates, to compensate. The same thing happens with health care. Insurance companies pay out millions of dollars for things like terminal cancer patients, automobile accidents, peoples' own stupidity. And we get stuck with the bill.

      When I was a youngster, I drove for many years without insurance. I never had an, I guess all things equal out. After insurance was made mandatory, I had accidents. Insurance paid...but in retaliation, they raised my rates. Not because I'm a bad driver, but because I had a claim.

      Now, the banking industry is taking a page from the insurance industry. (Same bunch of crooks, just different nametags on their prison uniforms)

      Insurance ompanies can up your rates whenever they feel like it. They don't even need a reason.

      Kinda like the banks...Their latest money grubbing trick is to punish credit card holders who keep their balances paid down and make their payments on time. It's called "inactivity fees" (yeah, they're going to CHARGE you for not using your credit card enough)

      I can hardly wait for the insurance industry to get ahold of that one!

      Can you imagine getting an insurance rate hike because you DON'T have accidents, get tickets, or drive stupid?

      Ah yes...the world is going to hell in a handbasket
      No good deed goes unpunished.


      • #4
        Strange but true....Recently, my insurance provider notified me of a rate increase on the motorcycle part of my policy. "Inactivity" was the reason.
        I wrote a letter to the company, advising them that I'm cancelling my motorcycle coverage. The agent called me up, and wanted to know why such a "long time customer" was going to cancel his motorcycle coverage.

        Simple, I explained. I haven't had an accident on a motorcycle in over 35 years. And haven't owned or ridden a motorcycle in fifteen years...'nuff said.
        The agent replied"...oh...."
        No good deed goes unpunished.


        • #5
          Fortunately we still have the option of shopping for other insurance and the option of buying whatever best fits us.
          This is not the case with government regulated medical insurance for those over 65. Too much regulation has caused the coverage and prices to be pretty much the same regardless of who you buy from. That is exactly what will happen if those big bad insurance companies are regulated too much by the government. We also still have the option of investing our money in the big bad insurance companies, by buying common or preferred stock. Then we can be reaping the rewards of the profits of the corporation thru stock dividends and increases in the value of the corporations.
          Just some thoughts.


          • #6
            Hi There,

            Check with your state. Some states regulate
            the insurance companies that sell policies in
            their state and set limits on how much a policy
            can go up each year.

            Good Luck!
            -Blue Chips-


            • #7
              Invest in the money grubing corperations that got you there in the first place? Why not just shoot yourself in the foot. Faster and more direct way to screw yourself over.
              Play Brutal Nature, Black Moons free to play highly realistic voxel sandbox game.


              • #8
                I've had the same homeowner's insurance since 1988. All of a sudden I receive a questionaire with my bill. (Paraphrase): In order for us to serve you better please fill out enclosed forms.
                How many bedrooms, outbuildings, type of roof, distance to fire hydrant, acreage, etc, etc, etc.
                Hey, insurance company..... wait a minute.......I've been sending you my hard-earned money for 20+ years and suddenly you want to know just what it is that you're insuring ?????
                Is this a memory lapse ? Company sold to Martians ? What ?
                I took it as a ploy to extract yet more of my hard-earned greenbacks by raising the premiums. The questionaire was duly filed away with the kitchen garbage. Sent in my annual premium minus the forms. Never heard another word from them.
                I don't care what insurance company you are with - - they are out to fleece you at every opportunity.


                • #9
                  Your call

                  There are a few questions that you need to answer:

                  - can you afford your insurance?;
                  - can you afford not to have it?;
                  - can you afford to pay your "excess" (your own liability); and
                  - can you afford to under-insure?

                  Its your call.

                  Its all about risk versus cost.

                  Shop around.

                  Insurance companies are commercial enterprises whose objective is to make a profit and their only main obligation is to their share-holders and investors.

                  Providing that they are not operating outside the law they are doing nothing that is illegal.

                  Perhaps if those who take a risk and have no or too little insurance were made to pay their way and their share you might be paying considerably less.

                  In some forms of insurance you are insuring yourself, and in other forms you are insuring others.


                  • #10
                    Holy Chit bat man! I just checked my renewal and Aviva raised my house insurance by $1000 as well


                    • #11
                      Originally posted by portlandRon
                      You need to do some shopping. The insurance for my Harley, same type of coverage you had, is $125. a year. It is with the same company that has my house and cars but on a separate policy.
                      I agree, mines about the same in buffalo for the harley.

                      On the homeowners I wanted the highest deductable. The agent said it wasn't smart and I said why? First time I make a claim for a window or such you'll cancel me. Then when I go elsewhere I have to answer the question, "have you ever had a policy cancelled on you?". Answer yes and they bleed you.
                      - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
                      Thank you to our families of soldiers, many of whom have given so much more then the rest of us for the Freedom we enjoy.

                      It is true, there is nothing free about freedom, don't be so quick to give it away.


                      • #12
                        Ya paze ya munny and ya taykes ya chances

                        Common dilemma YOD.

                        No insurer has to insure or re-insure you - and they don't have to give reasons - they can just refuse you and your business.

                        Your insurance claim history is just as important to an Insurer as your credit-worthiness/history is to a potential lender.

                        Insurance premiums, like lender interest rates and conditions, are based on risk assessment.

                        That should be no surprise as both you and the Insurer are betting on an outcome where risk (and costs) are weighed against the benefits of the assumed outcomes over the period of the Insurance policy/policies.

                        If you are insured and the Insurer finds that you have made an incorrect statement or have not kept them up to date as regards the state, type and value of the insured goods or property they can either raise your premium or increase your "excess" or refuse to pay a claim or refuse to re-insure you.

                        You pays ya money and ya takes ya chances.

                        Would you do it any differently if you were the Insurer?


                        • #13
                          I feel the pain too. I still have a mortgage so I"m required to have insurance, but the rates have gone up so much I could buy my house again every 20 years. Nobody in my family has ever burned a house down to the ground ever, and I don't plan to either. Even if there was a fire, most times it isn't a total loss so only some major repairs are necessary as opposed to a whole house.

                          So I've decided that after my loan is paid off I don't think I'm even going to have insurance. Even 10 years ago it wasn't so bad, but they have jacked the rates up about 4 times what they were back then, so they're making more but I'm making less than I was back then. Nowadays I think it's no longer just a partial ripoff - it's a total racketeering jamboree.


                          • #14
                            Where you guys at ?

                            Any where near a Hurricane zone ?


                            • #15
                              Originally posted by JoeFin
                              Where you guys at ?

                              Any where near a Hurricane zone ?

                              That doesn't matter. Katrina put the hurt on all the big insurers and they are in a hurry to get their money back.