RamDiver
Senior Member
- Joined
- Jan 23, 2022
- Posts
- 2,260
- Reaction score
- 3,801
- Location
- Marlborough, Ontario, Canada
- Ram Year
- 2021
- Engine
- Hemi 5.7
i was told the reason insurance rates have gone up is because more and more people are driving without insurance, more vehicles are driving "driverless", and more people are driving while texting. All of those cause more accidents. Additionally, there's some insurance companies that offer "only what you need" which makes them affordable, but never covers the full costs of accidents. Most people that have that type of insurance are usually non-home owners and most likely single. That way a law suit can't get much out of them.
it's like the increase of shoplifting..many people do it, so we pay more to cover the losses.
I believe you may have a defective news source. News is like history, those that share either may have a different idea about reality or even a nefarious motivation to misrepresent the facts.
AFAIK, insurance companies have been losing lots of money due to death benefits payouts and property damage claims due to storms.
The number of unexpected deaths of younger people have sky rocketed in the past few years and that's hurting insurance companies more than anything else.
Several companies have in recent times, refused to write policies in Florida and other states impacted by hurricanes because of recent property damage payouts.
There's also the steady stream of automobile thefts thanks to the lack of security used with electronic ignition systems but, I'm not sure that even registers a blip along side the previously mentioned payouts.
I'm confident that any large city in the US or Canada has endless reports of newer vehicle thefts.
Apparently, there's a great market overseas for pre-enjoyed trucks and SUVs.
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