Comments on: Why do insurance rates constantly go up?

By: Jonathan S. Carroll, ASLI

Jonathan S. Carroll, ASLI — Thu, 02 Sep 2010 12:03:38 +0000

Insurance rates go up to cover inflation. A television bought 10 years ago for $100 will today cost $400. They obviously need to charge you more to insure that.

Insurance companies also take your premiums and invest them: Real Estate, The Stock market, etc. since the market is performing poorly, the insurance companies have less money from there, and will also need to increase premiums for that.

Some companies do really well and are able to decrease premiums also. So it works both ways. Think GEICO.

By: car253

car253 — Thu, 02 Sep 2010 12:03:38 +0000

Going through hell when making a claim? It depends on what type of claim. A theft claim on homeowners or auto insurance is investigated for any type of fraud because there is so much fraud.

It really depends on what type of claim and what company you have if your doing to have to flip through hoops to get your claim paid. Some companies are good at paying their claims and some are horrible.

So, people looking for a company should find a company that has no problems with paying out their claims. People should never look for the cheapest company out there if they do a horrible job at paying their claims.

By: Tom Z

Tom Z — Thu, 02 Sep 2010 12:03:38 +0000

Gia,

You first. Perhaps we can learn from your experience of paying out of pocket to have your home repaired after there has been a fire. Or having to rebuild after a tornado. Or replacing the property that was stolen in a break in. Let us know how that works out for you.

By: dustoff

dustoff — Thu, 02 Sep 2010 12:03:38 +0000

They do NOT. It depends on what type of insurance. Life and many auto rates have actually declined.

By: Tabo

Tabo — Thu, 02 Sep 2010 12:03:38 +0000

You’re right we don’t need insurance and it’s a scam. However, I do believe in some insurances such as home and car. I mean those are personal decisions and the rates you can acutally afford…espcially if you can afford to have a car.

As for health insurance it’s crazy…and no guarntee they’ll pay out. You’d probably save money paying the doctor or hospital directly than giving it to a 3rd party (who really doesn’t want to give you a dime if you’re sick b/c it cuts into their profits). That’s why we need National Health Care!!

People have been brainwashed into thinking we need health insurance…truth is if we did all stop paying and demand the gov. give us this (what I think is FUNDAMENTAL) right then life would be better and more fair. You’d get what you pay for.

Good luck!