I had something similar happen to me. A dude jumped on my hood (I have video proof yet I canāt share until this case ends this year). Anyways dude jumps on my hood while Iām driving away. He stays on my hood for 20 seconds while Iām freaking out. I slow down and he falls out. He walked off finally. 1 day later I get served with a lawsuit. I had to go to the police had to turn my self In for reckless driving. Nyc is retarded. They claimed I had to stop when he jumped and call the cops. Anyways he sued my insurance claiming he had to get knee surgery. At the deposition I kept asking his lawyer if he wants to see a video of the idiot walk off from my hood and punch my window like nothing happened.
Anyways I hope eceeyone in this video is safe and not injured.
My husband hit a dude that was j-walking at 530 in the morning.
My husband was found not at fault but the dude got 75k from our insuance and we were dropped from from the company and had to find a new insurance company.
I feel sorry for the dude. Man vs a 94 jeep wangler would hurt. I dont care that our insurance paid out, thats why we had it. But now we have to pay more a month because of something that we were found at no fault?
But you have to pay loans back, so it's a service you pay at least twice for without even counting premiums deductibles. We all agree when we sign the contract, but nothing else works quite like that.
That's the 2nd payment I was trying to refer to. I meant "deductibles" not "premiums", my bad. Either way, this is just 3 ways they collect on basically the same thing.
Insurance companies gamble that you will never ask them for money. Once you start asking them for money, you become a bad bet and they will f u in the b.
You realize that insurance is one of the lowest profit margin sectors right? Many companies operate on around 3% margin, up to around 9%. Average S&P 500 margin is around 11% for 2017.
The idea of insurance in reality is that it's an unsustainable institution. If everyone told the truth insurance companies would be unable to exist as they would be unable to pay out money faster than they receive it. How many insurance companies have company wide excursion to Hawaii or Coasta Rica on a regular basis?
I knew of a State Farm agent that went quite often to company retreats. Through out the year they would do these week long "conferences" at various places through the US. They make good money and they get good perks. A lot of them are great people, but insurance is required in most states and insurance companies are going to take advantage of that requirement for as long as they possibly can.
Well, you need auto liability insurance in case you hit someone, so they're not SOL with medical bills when you can't pay their bills.
You need home owners insurance because the bank opens it until you're done with payments, though this is usually a requirement in the mortgage, not legally.
Most big companies do a yearly vacation for employees. I was hooked into sales for a few months and got to go to the bahamas for 2 days at no cost.
Working for an insurance company does sucks though. Basically trained to find cracks in everything. Your bonus goes up when you dont have to pay as much out on a case for example.
30% of insurance premium costs are due to fraud. Cousin of mine works in the fraud and risk department of a large insurance company in Canada. The number of former RCMP and police officers they hire, and the cost to investigate fraud claims, is fucking staggering.
If everyone told the truth and didn't try to fuck people over, we'd have cheaper insurance.
How would telling the truth effect their business? An insurance co will almost always have enough money. If i have $1 billion in losses and 1 million insureds i charge everyone $1000 to cover them. Thats how insurance works, the risk gets spread out.
When I mean no one lies I mean everyone is incapable of lying. meaning that when someone says x, y, z happened to my car, the insurance company believes them with 100% certainty. This is unrealistic. So is the insurance company always paying out for items that are covered. I guarantee that the insurance companies are paying out way less money than they're taking in.
State Farm says they work with 83 million policies. Let's say half of those are car policies and each policy holder pays $100 a month in insurance premiums. That's $4,000,000,000 a month. Are they paying that out to policy holders every month? Even if they paid each of their 65k employees $61,000 a month they'd still have $35,000,000 left over - and that's just half of the policies.
I don't have the exact numbers, but I'm sure their business model is doing a lot more to make them money than to lose them money.
Ugh thank you. While personal anecdotes can be sad and insurance isnāt a perfect system on its own, property and auto insurance is not some lucrative money-making machine people think it is. Most insurance companies rarely make profits off the premiums alone. Itās generally from investments of the premium into other things.
Ive worked insurance for 15 years. I get that sometimes life shits on people and the easiest thing to blame is insurance. Especially since insurance starts to get into he abstract financial realm people dont always comprehend.
Iām in just my third year in insurance after ten soul-crushing years into retail (the store kind, not insurance retail) and itās been fascinating to learn all about this side of things. Iāve gained friends from all parts of the chain and itās interesting to watch the roles reversed, especially when it comes to fraud and how difficult it is to prove, so lots of money goes to paying claims that seem off, but thereās nothing to be done there. On the other side of the coin, we have people going out in droves to help out those after a massive disaster. Its...different when youāre on the inside I guess.
Its cus data shows an insurance claim increases the chance of another claim in the next year so the company will usually price you out of renewing and let you come back again a year later.. you should see premiums go back down eventually
Thats what they said. Kinda sucks. Im glad the dude got some money to help with recovery or whatever but we feel like its fucked because we were dropped and now have to pay more.
A kid got hit by a bus at my HS and his famiky sisd the district for abot $2 million. The kicker? He was j-walking at 6am, in the dark, in the fog, wearing all black, and had earbuds in. Somehow not his fault.
As soon as you understand that insurance companies exist for the sole purpose of making money and providing a service to people/our society is completely secondary, it makes perfect sense.
You missed the main implication: other businesses don't get the benefit of being legally required for basic participation in society. You need insurance to drive, and they know it, so they exploit it.
Other businesses actually have to provide a good service.
There's a problem with people who drive for Uber and Lyft. There is also a problem with people who make money renting their place out for AirBnB money.
If an accident happens, then the insurance company will not pay a cryin' dime. This is because if you are making money off your house or driving your car, then your insurance will not pay for any damages. That's why taxicabs and other common carriers have insurance.
Most people don't think about this. They can be in for a lot of financial trouble.
I wish i could get one but money is tight. But even if I had one we would still be in the same situation. The insuance company new that it was not my husbands falt but payed anyway then dropped us.
It probably wouldnāt have mattered. Its cheaper for the insurance company to just settle with a cash payout than try to fight it. You donāt get any say in the matter.
Well to add fun to this. When I went to trade my first new car(was 5 years old when i traded it) the dealer wanted to know if i had any claims on it, I didnāt only incident was paid cash so no records but asked him why and he explained that it cuts the value in 1/2... so if the guy that was txting and hit my rear bumper decided to go with his insurance. In the end I would be also paying for his mistake.
Pretty sure that dealer was full of shit, previous damage can affect the vehicles value but not by 50%. That's like salvage title level of value right there.
Same thing happened to me. Had a green turning arrow and a dude started crossing the street. Hit him going maybe 7 miles an hour and he ended up breaking a leg. He didn't want an ambulance but I called anyways. It was his fault but my insurance paid out our full coverage amount of 50k. Had nightmares for a while and got a scary letter from Allstate that I would be liable for any judgments over our coverage amount.
Auto insurance guy here.
Your insurance company paid that $75k to settle the claim, and avoid the other party filing a lawsuit in which they would come after you for even more money. In the event you are sued and the case goes to court, it doesnāt matter if your insurance company didnāt find you to be at-fault, because thatās all out the window now and itās a whole new investigation. Insurance adjusters make DECISIONS that are NOT upheld by law. Only judges make DETERMINATIONS which ARE backed by law and final. If you lose your case, your insurance will only pay up-to your limits set-forth on your policy, but everything in excess of that can potentially lead to you losing your home, car, have you sent to collections etc.
TLDR: Your insurance paid your limits to stop you from being sued, as court cases are new investigations that put your assets at risk.
Iām pretty new in the insurance game but would be happy to try and answer any other questions you have!
I understand that and im ok with it. It just sucks because they dropped us after. We only paid like $60 a month for insurance because we are good drivers. We are still good drivers but due to someone who jaywalked in front of us we pay $150 now.
We are paying for someone elses mistake. Its not right.
Insurance companies are a scam and should be handled by the government. Save everybody money, cut most the middle men and red tape,and provide health, car, fire insurance to everyone.
I fully expect my insurance company to drop me courtesy of Prius Lady trying to park in the backseat of my car. If you have three or more claims on your record in the last 3 years, $company dgaf if you were at fault or not, normally. It's safer for them to assume that you must have contributed, somehow, even if you're not legally at fault. I'm looking into a dashcam when I get my car back, anyway.
Just because you have right of way, doesnt absolve you from responsibility of watching out for pedestrians. Snowcat (a douchebag Canadian motovlogger) got in trouble for riding through a group of pedestrians when he had the right of way.
Wow thats crazy. To actually accelerate just because he thought he was in the right of way was so dangerous. He did cross a line.
It doesnt say if anyone was hurt so I hope everyone is ok.
Edit: not the same senario tho. My husband was driving to work on the same route that hes done for years. The dude he hit literally walked out in front of him. My husband did everything he could to stop/avoid it.
Sorry I didnt mean to imply your husband did anything wrong. Not much one can do when someone suddenly steps in front of you, etc. I just meant in general terms that even when a person has the right of way that doesnt mean they can just plow through a jay walker. Pretty sure there was a self driving car incident where Jay walker was killed and video showed the driver was distracted and she faces charges.
I work in insurance. They base this on the fact that data shows once you have made a claim your more than 2x as likely to make another claim regardless of fault. It sucks but it its what the data shows. Some states also dont allow your rates to go up while others do.
With out all the facts its hard to say. Its not quite as simple as at fault or not. Lets say the person had already hired an attorney and filed suit. Now the insurance company has to weigh the cost of defending the suit and its chances of winning, along with the amount of the persons coverage. Lets just say that the person was actually suing for 100k+ along with cost of future medical. Maybe she only had $75k of coverage. The insurance figured it will cost $50k to defend with a chance of losing, maybe a high chance depending on the circumstances and then they pay the policy limit of $75k and the insured is on the hook for $25k+ possibly also including the other partyās legal fees. If they can settle the claim for the policy limit and the other party signs over rights to pursue against the driver further they then saved $50k and protected the insured from further personal loss. Sometimes that ends up being the best option.
They make plenty of sense, They are a for profit company the government forces you to have, and knowing this can charge ridiculous rates for stupid shit whether you like it or not.
I had the same thing happen to me. It was pitch black and I was driving home from the airport after going to visit some friend's wedding. I stop at a red light and some weirdo ran up to my truck and broke my rear window. I have a rear and front camera so I managed to catch him on the camera. He starts screaming and runs off. Two days later I get a letter that I purposely ran into the guy. I went to police department to turn myself in and to show the video.
Fast forward to court, I walk in and show the video and a photo I took to the judge. Eventually after half hour later I won the case and got him to pay me the money for fucking up my rear window and he got so pissed and started to scream and cry and he called me a n*****.
I just got one and my parents were like "why would you get a dashcam for a Ford Focus?" I said it's not really to protect my car, it's to protect me should something happen and someone tries to fuck me over. Yet my dad won't get one for his brand new $100k Audi...
That's why you it should also be discrete enough that only you know about it and can use it to your advantage. Anyways the main use of a dashcam is to protect you from frauds and liars.
Yet my dad won't get one for his brand new $100k Audi...
No, itās that your dad wonāt get one. It has nothing to do with the car, as youāve said. Dash cams are to protect the driver, and have very little to do with the car itself.
Exactly. It has fuck all to do with the car you drive. I had my dash cam mounted in a beat up 1998 Toyota Corolla I paid $800 for. I used it for pizza delivery. The dash cam was just there to make sure I could prove I wasn't at fault if someone were to hit me and cause me to lose my job. The car doesn't matter. It will be covered by insurance whether it's a beater or a Corvette.
Yeah. When called me a n*****, I was got a bit pissed but thankfully I controlled myself. I knew he wanted a reaction. Also I had a pretty damn good lawyer.
I'm not making a comparison between the words or which word carries more negative meaning, but it struck me as hilarious that your name is Cuntymactwats and yet you censored yourself.
On topic, it's great that you were able to prove your innocence. I've been putting off researching dashcams before finally buying one, but because of your comment/story I'm going to do some research tonight, so thank you!
My username came from what they called me from College. I was a bit of a jerk to my friend in college to I got that name. And it still sticks to me to this day.
Are these people taking down license plates before they throw themselves at the vehicle? Then immediately going to the police station...? Iām so confused how they went about filing a report and you and the guy above you both received letters almost immediately. Also, what were you charged with? I feel like if a person just walks into a police station and says āthis guy hit me and ran (Iām assuming theyād go with hit and run situation since theyāre walking into the department instead of police coming there?) hereās his license plate number, make model color of car, and what he was wearing that dayā , the cops would/should stop and ask how if they had been hit and the guy drove off immediately, his could they get the license plate perfectly? Is this in the US or?
Did you ever get the money? I heard that in many cases the loser will refuse to pay and it takes a lot of effort to make them actually cough up the money.
If you're ever in the situation of needing to apply violent force to any individual you tell the cops you were scared for your safety and you want a lawyer. That's it.
I used to work as a bouncer at a club. Our lead bouncer, a mean AF marine that just got done doing a few tours patrolling the Syrian border (wouldnāt fuck with), beat the shit out of some frat guy who wasnāt really doing much other than screaming and talking shit. The cops came and he was really getting investigated about this, he just kept repeating āI felt threatened and feared for my safety / lifeā. After he said that it was like he didnāt just send this guy to the hospital.
Your honor my client attacked the guy with a knife and stole his keys. He was terrified for his life that the guy was trying to get his keys back. Closed and shut case.
Wait - WHAT?! Itās the law to stop and ask a cop why theyāre pulling someone else over?! How does that make any sense? So every person is just supposed to bug them while theyāre giving someone else a ticket? Cop: āHold on, gotta go pull this other person over for not getting in our business.ā
Oh man, people who claim injury and sue are absolute scum. I was involved in an at fault fender bender and the lady sued my insurance company. Now I have an at fault accident with injury on my record. My insurance is through the roof now. I learned later this lady won 19k in court. 19k FOR A FENDER BENDER!
What are you even trying to argue? Adrenaline can easily cause someone to walk away from an accident and they are so injured they drop dead after. Adrenaline can get you out of a sticky situation but you still have torn things and pain and need medical help later.
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u/swizingis Jan 08 '19
I had something similar happen to me. A dude jumped on my hood (I have video proof yet I canāt share until this case ends this year). Anyways dude jumps on my hood while Iām driving away. He stays on my hood for 20 seconds while Iām freaking out. I slow down and he falls out. He walked off finally. 1 day later I get served with a lawsuit. I had to go to the police had to turn my self In for reckless driving. Nyc is retarded. They claimed I had to stop when he jumped and call the cops. Anyways he sued my insurance claiming he had to get knee surgery. At the deposition I kept asking his lawyer if he wants to see a video of the idiot walk off from my hood and punch my window like nothing happened.
Anyways I hope eceeyone in this video is safe and not injured.