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View Full Version : Type of insurance that's the biggest fraud.



Dingo Jellybean
02-26-2005, 03:07 AM
Which type do you think is the biggest "fleecing of America"(as NBC likes to call it)?

I think it's auto-insurance. I got a speeding ticket 6 weeks ago, the ticket itself cost $65, but the insurance jacked up my premium by about $600. It was one point on my license. I was clocked at 43mph in a 35mph zone. Anyone who has driven knows NO ONE goes at the speed limit, rather they go with the flow of traffic...which is about 5-10mph past the speed limit. I wasn't the only one speeding, I was just caught at the wrong place at the wrong time.

The insurance company does all these statistics about how young male drivers are more likely to be high-risk, so they say that's legal for them to jack my already high premium. So my insurance for the year is about, $1900. I only have one speeding ticket on my record...not even a parking ticket. So the insurance company says I'm at "very high risk" because of 1 speeding ticket. Basically my money feeds more steak dinners to these fat execs guts so they get heart disease or some crap...I hope they do get heart disease...but eh.

So yeah, discuss the biggest insurance frauds.

mike without a hat
02-26-2005, 03:23 AM
volcano insurance





i hope somebody gets that

fire_of_avalon
02-26-2005, 03:56 AM
volcano insurance





i hope somebody gets that
Not me! Zoink!

The Captain
02-26-2005, 03:58 AM
While auto insurance has really become a thorn in countless people's sides, I think the worst kind of fraud is still what happened at Enron and Worldcom, where billions of dollars were taken away from people's retirement plans just so the richest of the rich can build golf courses in their back yard.

To tie this directly into the thread, Enron and Worldcom refused to pay out the various insurance claims that were brought on by this type of blatant fraud, resulting in thousands of people losing their pensions.

Take care all.

Shlup
02-26-2005, 04:04 AM
volcano insurance





i hope somebody gets that
Got it. *high five*

I agree with DJ about the auto insurance though. You pay them and pay them and pay them. Then, when you need that money you gav them, they give you a ton of crap and then make you give them a ton more.

Jojee
02-26-2005, 04:07 AM
volcano insurance





i hope somebody gets that

Not if you live on an island with an active volcano that is predicted to erupt any time now! :|

But yeah, car insurance... sucks. T_T;; If I get my own car (ie, my own car, no parents' help.) this summer, then I will have to buy my own car insurance and god knows how much that will be...

Kirobaito
02-26-2005, 04:17 AM
I was going like 80 on the highway today and didn't even really worry. :/

I consider it sexism for guy's insurance to be higher, but that's just me. I've never been caught for speeding (yet ;_;), and haven't gotten in any wrecks or anything.

I don't know anything about insurance, though.

rubah
02-26-2005, 06:24 AM
aha, someone add 'being a girl' to the list of 'Don't drive red cars, dont' drive sports cars, take drivers' ed, stay on the honor roll, and drive on the backroads' to keep insurance down.

I haven't been fleeced too many times. So I'm not really sure which is the most rampant. My dad studies that stuff too often though, so I might just be overlooking it.

although they did have a thing about these crooked air conditioner repairmen. The entire show my dad was giving commentary on how unprofessional they were. (that's his career) Heck, even I knew what they were doing was ludicrous and downright crooked.

krissy
02-26-2005, 07:29 AM
A big problem that I've been seein in government insurance agencies lately is IPod insurance.

I wonder if my life insurance covers Mako poisoning.

Rainecloud
02-26-2005, 07:38 AM
I only have one speeding ticket on my record...not even a parking ticket. So the insurance company says I'm at "very high risk" because of 1 speeding ticket.

Zoiks!

I can't really complain about my car insurance, as I got a really good deal with Norwich Union Direct. They were helpful from start to finish, and they were genuinely nice people. Plus, you didn't have any of those nasty forms to fill in - it was all done over the phone. So, if you're looking for cheaper car insurance, let Norwich Union put a smile on your face and quote you happy!

Dingo Jellybean
02-26-2005, 07:54 AM
Zoiks!

I can't really complain about my car insurance, as I got a really good deal with Norwich Union Direct. They were helpful from start to finish, and they were genuinely nice people. Plus, you didn't have any of those nasty forms to fill in - it was all done over the phone. So, if you're looking for cheaper car insurance, let Norwich Union put a smile on your face and quote you happy!

Oh man, my name was slaughtered. I'm still under my mother's plan(because I'm under 25), but it's still high as I don't know what. If I'm not on my mother's plan, it would cost me around $2700. I never even needed this insurance...I don't feel insured...I feel ripped off. But eh. Maybe they have better policies in Europe...but don't bother with it here in the states.

But yeah...my $1900 ~ $1000EU...if I translated everything correctly.

eestlinc
02-26-2005, 10:43 PM
I wonder if my life insurance covers Mako poisoning.
xD

The problem is, if you are a male under the age of 25, you are already at high risk. Getting a speeding ticket only confirms to the insurance company that you are a big danger. Also, parking tickets don't have anything to do with auto insurance.

I don't like paying insurance on my car, but I want to drive so I don't have much choice. My premium is pretty low since I have a clean record, earned good student discounts, and drive a 95 Corrolla and only keep liability on it.

I was hit from behind at an intersection last year by someone who wasn't paying attention. Totally screwed up the back end of my car. Fortunately, the other driver had insurance and my $2000 in repairs plus $500 in a rental car was completely paid for. Since it wasn't my fault and I didn't have to file a claim with my insurer, it didn't affect my premium in any way. If the woman who hit me hadn't had insurance, things would have been a lot worse.