No worries. I don't know your situation and it was just a suggestion.
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Auto ins just doubled!
- Thread starter Chris142
- Start date
Texas is a no-fault state correct?Must be hazardous in CA. Mine has jumped 30% too, zero claims.
Shop around. My 6 month premium went up $11 total. $1877 vs $1866.
Not correct.
I don't have the numbers, but my guess is there are a lotta people running around without insurance. So we are basically subsidizing them. We pay and pay and pay and ....
Now I feel bad for the poor insurance companies. And it looks like their CEO's will be on food stamps if this continues...
| Insurance Company | Executive | 2022 Compensation | 2023 Compensation |
| Allstate | Thomas J. Wilson | $18,902,127.00 | $16,516,626.00 |
| American Family | William Westrate | $6,772,864.00 | $3,832,995.00 |
| Berkshire Hathaway (GEICO) | Todd A. Combs | $13,600,000.00 | $10,000,000.00 |
| Farmers | Raul Vargas | $7,980,763.00* | $3,352,972.00 |
| Liberty Mutual | Timothy M. Sweeney | $15,399,763.00** | $10,346,284.00 |
| Nationwide | Kirt A. Walker | $10,964,625.00 | $11,418,123.00 |
| Progressive | Susan Patricia Griffith*** | $14,462,961.00 | $15,636,618.00 |
| State Farm | Michael L. Tipsord | $24,410,986.38 | $17,612,056.33 |
| Travelers | Alan D. Schnitzer | $20,772,397.00 | $22,572,740.00 |
| USAA | Steven Wayne Peacock | $4,820,530.00 | $8,118,816.00 |
| Total Compensation | $138,087,016.38 | $119,407,230.33 |
You can do that to literally any large company that exists. If CEOs are paid exorbitantly, they go somewhere that does. That’s just the way it is. Of course you don’t feel bad for them. You just understand it’s a business, and they are essentially selling a commodity. If one insurer was substantially cheaper, everyone would go there instead. Capitalism balances things out.
Free enterprise balances things out, not capitalism. But I don't wish to turn this thread into a debate about semantics.
I know several people who have been run into in minor fender benders in parking lots, etc. Every time the person had no insurance and didn't want to call police. My son is a truck driver. Yesterday he had someone back into his trailer while he was parked unloading fuel at a gas station. No damage to the trailer, but it broke the rear window out of the Prius. The driver spoke no English, had no drivers license, no insurance, and only had a Columbian government ID card.
You are both wrong. Capitlalism and free enterprise are about winners and losers, not balance. Regulation and Socialism attempt to balance things out.
I don’t want to derail this thread into politics, so I’ll say we can agree to disagree. All I was attempting to do with my posts was say that insurance is not as bad as most think. It’s a tough business to be in because everyone always complains and wants to save a buck.
My dad always said the poor pay more.
Which absolutely sucks but I have no solution that does not make that situation worse.
Exactly right. When I was shopping houses in Florida I got an apples to apples quote on auto insurance and home owner's insurance. Same cars, same coverage, same for the house, only the house in Florida had about a $300,000 lower value. Both premiums were considerably higher in Florida than here on L.I. Since we're talking auto insurance I asked the broker a few questions, like why is auto insurance so much higher in Florida than L.I.? He said they estimate over 40% of the drivers on the road in Florida are either under insured or have no insurance, and lots of fraud. Guess who pays for those losers? There are a lot of losers driving around on L.I. too, but it would still cost me more in Florida.
Think about their children.
I heard a guy from California explain that there are two justice systems in the state. One for people with a checking account (normal folk) and people without a checking account. California is happy to fine you hundreds if you let your grass get too long, but if you're a street person or "emigrante" you can get away with much more with little or no consequence.
Come on now. Capitalism is where private individuals own/control production and compete for customers on the free market. It is the customers freedom of choice who determines the winners and losers. Other systems don't allow the customer the freedom of choice so the winners and losers are chosen by some other metric.
A free market does not exist anywhere in the world today.
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