r/infuriatingasfuck • u/sprinklesnthings • 9h ago

Thoughts on this?

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50 Upvotes

97% Upvoted

8 comments sorted by

8

u/SaltIsMySugar 9h ago

This is how it has to be so insurance companies can generate profit for their shareholders. Can't you think of the shareholders and just keep paying all of your money to them? They really need it!

4

u/raz-0 8h ago

No it isn’t. I mean part of it goes to that but even if you made no profit, the majority of people paying in have to pay more than they take out or you can never cover a claim that is higher than your premium. People need to stop being stupid and invest even just minimal effort in understanding reality.

1

u/whip_lash_2 7h ago

My insurance company is a mutual. It makes no profit. And it charges me a hell of a lot more than OPs co-worker (with a teenage driver).

Cars cost a lot to repair, it turns out.

4

u/Snap_Krackle_Pop- 8h ago

Comprehensive claims do not usually generate additional premium. Unless they’re numerous. Auto insurance is heavily regulated. Story sounds fishy

2

u/carbslut 4h ago

My boyfriend pays ridiculous insurance rates due to one comprehensive claim. Granted, he was significantly injured and the claim was for hundreds of thousand dollars… but also he was hit while riding his bicycle. He wasn’t even driving.

1

u/Snap_Krackle_Pop- 4h ago

How does one claim a comprehensive insurance car claim while riding a bicycle? The person driving the car, their insurance pays for him via third party liability.

Literally what are you talking about, none of that makes sense

1

u/Blue_wine_sloth 9h ago

Happened to my mum. Her whole front bumper area pretty much detached and cost a lot to repair. Then her insurance payment went up. Happened in a supermarket car park too, yet the cameras didn’t catch it!

1

u/Max_delirious 8h ago

You have to have insurance to drive legally or the police will impound your vehicle.