Insurance, what a load of crap!

LIZARDKING

Active Member

Nov 16, 2004

21

14

28

Hell

Aug 9, 2005

#1

• Aug 9, 2005

• #1

I moved from Virginia to Arkansas. My cars, 88 GMC 1500, 03 Taurus, 05 Mustang. Just liability on the GMC. My insurance went from $1300 to $2400 a year. The insurance company says that NE Arkansas gets alot of claims from storm damage and has a very high rate of insurance fraud.

I moved back into a home I was renting out. State Farm raises my home owners policy another $250 a year because now that I live in the house and the contents are insured there is more coverage. That would seem to make sence, except when I moved out they raised the policy because renters are higher risk than owner occupied homes are.

What a load of crap, Im 45, married, no tickets, no wrecks, no claims ... ever. Makes me wonder how young guys afford to drive nice cars and own a home.

 

PolkThug

Member

Nov 7, 2004

130

0

16

Somewhere voiding my warranty!

Aug 9, 2005

#2

• Aug 9, 2005

• #2

You need to switch companies, or tell your current company that another company can give you the same coverage for x amount cheaper. They will bend. Buying insurance is just like haggling for a car.

Good luck,
PolkThug

 

D

D.Hearne

New Member

Sep 29, 2000

11,730

6

0

south louisiana

Aug 9, 2005

#3

• Aug 9, 2005

• #3

PolkThug said:

You need to switch companies, or tell your current company that another company can give you the same coverage for x amount cheaper. They will bend. Buying insurance is just like haggling for a car.

Good luck,
PolkThug

Click to expand...

I agree. I've been with State Farm for about 30 years now, and awhile back, they "started" to go up on my rates. I went down to my local SF office, and told the owner, "go ahead and raise my rates, I'll be gone the next day" I also reminded him how long I'd been his customer ( 20 something years) and thought that counted for something. My rates have gone down, little by little for the last few years. Only time they went up since was after my teenaged kid had a couple fender benders.

 

D

Dyoct

Member

Jul 13, 2005

77

0

7

Aug 9, 2005

#4

• Aug 9, 2005

• #4

I agree, I'm only 23 with two points on my record from last fall, and I have two other vehicles that are on my own policy with my home policy. It was only an extra $150 a month for the 'Stang. And I live in the worst place for car insurance apparently, the Motor City.

 

S

SactoStang

New Member

Aug 2, 2005

0

0

0

Sacramento CA

Aug 10, 2005

#5

• Aug 10, 2005

• #5

The wife backed into a concrete barrier that surrounded a flag pole in the bank parking lot on my 44th birthday (she was alone). Cruntched the rear bumper and rear quarter panel on our '02 Chevy 4X4. Total damage $2,300. Had to claim it. She lost the "good driver" discount which was at least $230.00 off the annual cost of the policy and 1 point on her record. Happy Birthday! Insurance companies have you by the "short hairs".

 

E

EZGoing

New Member

Jul 30, 2005

0

0

0

Aug 10, 2005

#6

• Aug 10, 2005

• #6

Dyoct said:

It was only an extra $150 a month for the 'Stang. And I live in the worst place for car insurance apparently, the Motor City.

Click to expand...

ONLY! That's $1800 a year. That's just crazy.

 

0

05PhillyStang

Member

Oct 28, 2004

120

0

16

Aug 10, 2005

#7

• Aug 10, 2005

• #7

Wait, you pay $2,400 a year for three cars?!?! Count your blessings brother. I guess it's all relative since your rates did almost double. But $2,400 a year for three vehicles...never in Philly.

One thing that will help lower your costs (other than decreasing your limits) would be to increase the deductible. It's a risk you take, but if you're willing to take a risk...

 

LIZARDKING

Active Member

Nov 16, 2004

21

14

28

Hell

Aug 10, 2005

#8

• Aug 10, 2005

• #8

Tax and insurance hikes eat into the disposable income. Thats $1350 a year I dont have to spend on something else. I have pretty low rates, but I have earned them over the years. I lived on the coast for most of the past 25 years and weathered some pretty violent hurricanes, including Andrew in 92. I always took good care of my assets and never suffered a loss. How many people can say they are 45 years old and have never filed a insurance claim?

As far as rates being low here compared to a place like Philly, I see your point there, but in this area the average wage is $10 an hour or less. Most jobs are low skill, non union, factories. Thanks to NAFTA, every time wages seem to be on the upswing, the jobs head to Mexico.

If I didnt have other income, I couldnt afford to have a decent standard of living here.

On top of all that the School Board is asking for a big tax increase that will jack my taxes $400 a year if approved.

Its tough to make a dollar, and even tougher to keep it in your pocket!

 

S

SpecOp1

New Member

Jun 21, 2005

0

0

0

Aug 10, 2005

#9

• Aug 10, 2005

• #9

Gee ever wonder as you drive into a major city how insurance companies can own the biggiest buildings.... .we are

 

Power Surge

Founding Member

Jul 20, 2002

1,516

4

38

Palm Coast, FL

Aug 10, 2005

#10

• Aug 10, 2005

• #10

Welcome to the country's largest form of legalized gambling.... insurance.

 

S

Shaggydog2000

New Member

Oct 22, 2004

20

0

0

Aug 10, 2005

#11

• Aug 10, 2005

• #11

Twofocused said:

On top of all that the School Board is asking for a big tax increase that will jack my taxes $400 a year if approved.

Its tough to make a dollar, and even tougher to keep it in your pocket!

Click to expand...

Pay the 400 for better schools, the last time I saw numbers on it, Arkansas was dead last in education in the US, so those schools need all the help they can get. Besides, any money you spend on improving the school system will come back to you when your home values increase because you have a better school system. A good school system will improve your home value by a lot more than 400 bucks. My parents' home in the Boston area is worth more than 200K more than it would be if it were in the next town over, mostly because of the school system, so they've never complained about school board taxes, even though I managed to get a full scholarship to private schools and didn't go to the public schools after I was 11!

Now, I have no praise for paying car insurance, paying more for that doesn't help anybody but a few stockholders. I can't imagine why it would be so much more in Arkansas, most likely there could be a change in how the insurance companies are allowed to set their prices. But you're still gettin off pretty easy compared to what you'd pay in a major city.

 

LIZARDKING

Active Member

Nov 16, 2004

21

14

28

Hell

Aug 10, 2005

#12

• Aug 10, 2005

• #12

The problems with the Arkansas School system are not money related. Its management. In my town (50,000 people) the School Board recently (in the last 18 months) bought a 7 million dollar admin building, put iron fences (vice chain link) around all the schools, built 2 30,000 sf "fine arts" buildings, and then had the nerve to say they needed a tax increase to pay teachers a decent wage.

In the last 15 years home values have increased at record paces. My parents home has doubled in value since 1993. My modest home increases in value about 2k a year. Higher tax assesments = higher revenue for the schools. We dont need a tax hike, we need better management.

There are problems in the Arkansas School system, just throwing money at them isnt the answer.

As a property owner and a resident I am for good schools, I am also for economy of government. One day I will be on a fixed income, I dont want to be taxed out of my home.