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i pick up a lot of frustration in posts here regarding the us insurance. looks like you pay through your noses and any claim causes a dramatic increase? the insurance companies have you all convinced your premium will go up if you claim, hence fewer claims are received, hence more profit for them.

If you go into an insurance deal knowing your premium will go up when you claim, why do you complain about it going up when you have to claim?

Looks like we have it easy here. i phone my insurance company at least once a year and threaten, yes threaten to take my business elsewhere unless they reduce my premium. they respond well half the time.

the last time i had to claim, the insurance broker picked me up from home and took me to where i had to pick up my loan car.

Now that is service.

i suggest you folks in the US start putting your foot down with the insurance companies. they certainly dont reduce your premuim if you dont claim, so why raise it when you do? their risk of a claim is already built into the premium anyway.
 

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Booooom! I agree, but a lot of folks believe everything they see and hear in the media. So they moooo themselves along paying for a service they are afraid to use. They also blame others for their rates.
 

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Yep state farm ftmfw. I had a 92 chevy silverado with them also that I only paid 2k for and everyone thought I was stupid for getting full coverage. Well 6 months later a newspaper man pulled out in front of me at 4 am without headlights on, and one concussion and totaled truck later state farm gave me 4k for the truck with no increase in my rates. Who's stupid now lol
 

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I hate insurance just as much as the next guy (probably more). I've worked in the insurance industry for close to 15 years now and it's funny how many people are misinformed. Insurance is a business like any other only they have a MUCH lower profit margin than most industries. The profit margin for insurance the insurance industry is in the 3% range. Drug manufacturers make like 15+%, Network/communications companies are at 20%....but you never hear anyone bitching that Cisco is making too much money and ripping people off.
Insurance is a business. They're objective is to make money. Over 95 cents on ever dollar that you pay in premium is paid back out either in claims, commission, or overhead.
In areas where claims activity is low...rates are low. If you live where claims activity is high...rates are high. I dont know how it is in South Africa but here in the US, you get into the smallest of accidents, and everyone is telling you to "lawyer up". Just check the crash section of this board and you'll see it. Don't get me wrong, you deserve compensation if your injured but is seems like the "American" way to get rich is to find a reason to sue someone else. We are an extemely litigious society. These frivilous lawsuits run up defense costs. So even if someone sues you and gets nothing...the legal fees can be $10,000+. At $10,000, If you pay $500/year for your motorcycle insurance... the company won't "break even" for well over 20 years.
 

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Also, your rates won't necessarily go up if you have an accident even if the accident was your fault. In many states If it was not your fault(or if it was a theft), insurance companies arent permitted to increase your rates even if they wanted to.
 

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Are we talking bike insurance here or car insurance?

I got quoted for something like $3300 a year for bike insurance. Granted I'm 18 on an RR.

**** even my car insurance for my old '07 Impala was $242 a month.
 

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Yeah...your age is pretty much what's killing you. Young men cause more accidents than any other demographic. Accidents are also the leading cause of death for young males. You can be the best/safest driver in the world but unfortunately you're going to get lumped into that same pool. So if you are one of the good ones...you paying premiums for all the jackasses out there.
Plus in FL you arent required to carry motorcycle insurance so the people that do carry it end up paying more for it because it drives up "uninsured motorist" rates.
 

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I think I have to have it since it's my only vehicle, I believe you don't have to have it if you have a policy with another vehicle under your name.

Either way, don't have it right now, but will be getting it.

What should I look for? Been on the hospital end with decent insurance after getting hit by a car and it continues to pay off, haha, so I'm inclined to get good coverage.
 
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