Comment on Insuranace is a joke
DomeGuy@lemmy.world 1 day ago
To be salty: you seem kinda bad at math.
2019 was.six years ago, not “basically ten”. Which wouldnt matter, if the rest of your post didn’t have such “if the raise put me in the next tax bracket I’d actually lose money” energy.
Car insurance is typically for the market value of your car as-s. Not the price for a car from the same model year that has a dealer’s warranty behind it.
Or to put it another way: insurance should pay out the amount you could get if you sold your car, not the cost to buy another similar car.
Now, there are insurance companies that will sell you “replacement cost” insurance, but this always means they’re charging a higher premium than they otherwise would.
And you’re absolutely right that insurance companies categorically suck. Auto insurance is actually the friendliest one that regularly has to pay out. Health insurance is even worse.
(Sorry for being so salty.)
Or to put it another way: insurance should pay out the amount you could get if you sold your car, not the cost to buy another similar car.
Why would an insurance company think that OP would get less money selling the car than anyone else would get selling the same kind of car, though? It’s one thing if all the listings are for much higher prices, but if those listings are selling at that price, then that’s the market value and the insurance company is provably misunderestimating.
Same model year doesn’t mean same condition.
A used car with lower mileage, documented service history, and a dealer warranty is worth a lot more than one without those things.
But also OP is right insurrance will generally offer the least they think they can get away with.
Shut up, nerd!
altphoto@lemmy.today 1 day ago
Its OK to be salty. I like my beans salty, lemony and spicy. I’m not saying you’re a bean and I want to eat you in a burrito. I’m just saying you’re alright.
SuperSaiyanSwag@lemmy.zip 18 hours ago
Idk why people jump to defend these policies. They are 100% correct, but being correct doesn’t negate how scummy the insurance companies are. Based on how much we pay on a monthly basis, you would think we should be appropriately compensated when we do need to use the insurance. The simple fact is that the devil is in the details.
Hacksaw@lemmy.ca 1 day ago
The minimum insurance isn’t a scam. If you hit someone and cripple them you’ll be glad for insurance to pay their medical etc…
Comprehensive is absolutely a scam. Just take the money and save it, maybe buy some bonds. Then when it’s time to buy a new car (or when you get your car totaled) you’re already half way to a new car.
altphoto@lemmy.today 1 day ago
Cars totally suck by the way. We went to a dealership to see one of the trade-in used cars and the 20 minute trip turned into a 4 hour car ride in stop and go traffic.
Cars suck, Seattle traffic sucks, insurance sucks. One word of advice… Don’t come to Seattle. If you do, don’t bring a car there. That’s the only saving Grace about Seattle, there’s no parking. To fix the traffic problem simply close the streets going to downtown.
Yeah definitely need a well named insurance… “Pay little” or maybe “screw everyone” insurance. Sorry, just being salty about it.