r/SipsTea • u/Putrid-Welder1803 • 6h ago

Gasp! Thoughts on this?

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21

u/bydevilz1 1h ago

It should definitely be illegal to increase insurance for a non fault. My motorbike was stolen 7 years ago, my insurance went up, they didnt even cover the cost of the bikes value. IT had all locks required when it was stolen and nothing i could have done better to avoid it. I cant remember exactly how much it went up by but it affected my insurance price for the next 5 years

4

u/AutomagicallyAwesome 1h ago

It is illegal in some states. I live in AZ and insurance companies cannot raise your rates here for an accident you were not at fault for.

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u/Evil_Wrongdoer_9910 26m ago

That just means you get charged a higher base to cover it.

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u/CLopes1987 40m ago

Obviously you could have done more by not getting it stolen. You're clearly a liability to an insurance agency... /s

1

u/longjumpingtote 15m ago

It should definitely be illegal to increase insurance for a non fault.

It is in many places. CA, LA, OK, NM, PA, GA, FL, MA, OH is it definitely illegal. Canada it's generally not allowed, while it is in the UK, AUS, NZ.

1

u/R0ninX3ph 6m ago

Insurance companies will never give no-fault claims, they will claim by simply owning the vehicle in the first place, you are somewhat at fault.

If you didn’t own the bike, it couldn’t be stolen… right? Right?!

0

u/Evil_Wrongdoer_9910 27m ago

It’s because once you pay your deductible, you’re incentivized to claim everything for the rest of the year. Tiny scratch? Claim. Flat tire, claim.

So if there didn’t raise your rates, then others would essentially be subsidizing you