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Is Anyone In America Worse Than the Insurance Companies ?

protectionist

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There may be some entities worse, but if they are, it's not by much. The level of indecency, greed, and vileness of insurance companies, is hard to beat. These villains have a huge advantage over other types of businesses, in that their product is required by law. The status of selling a product (car insurance) that people have to have, gives insurance companies the power to take advantage of their customers, and flat out rip them off, in a big way.

First, they charge exhorbitant fees for PIP (Personal Injury Protection) in 13 states in America (Florida, Pennsylvania, Delaware, New York, New Jersey, Massachusetts, Michigan, Minnesota, Kansas, North Dakota, Utah, Oregon, and Hawaii). The insurance covers things (ex. medical care) that people are already insured against. To force people to pay for what they don't need or want, is highway robbery.

Secondly, insurance companies have a ludicrous policy of raising rates astronomically, if/when motorists have a "lapse" in their insurance coverage. Well, why shouldn't they have a lapse in coverage, in cases where they don't possess a car for some period of time ? Can you imagine any other industry penalizing you monetarily for not buying their product all the time ? Imagine going to a furniture store and buying a couch. Then, you come back 6 months later to buy a chair, and they charge you very high because (they say) you didn't buy anything from them for 6 months.

Or you leave a health club in March, and come back to it in July, and your membership fee is tripled, because you didn't continuously stay with them. Unbelievable, the audacity of these guys. And the insurance reps will tell it to you as if it had a grain of sense and reason, other than them just sticking it to you, for a much as they can squeeze out of you,

Thirdly, these thieves charge people in low income areas more than richer people in high income areas. This does make some sense economically, since low income areas have higher crime rates, but again it just shows the lack of concern the companies have for their customers, and their total fixation on profit maximization, no matter the hurt or damage they cause.

Perhaps, the impact of this can only be realized by a look at the extremity of the insurance companies' rates.
Less than 2 years ago, I had car insurance on a car I owned, and paid $55/month (that was covering comprehensive, roadside help & rental car). Now, having had an 8 month lapse, and moving to a lower economic zip code, with the same company, for an owned car, I'm quoted $163/month ( a 300% increase). Other quotes I got from other companies were $238/mo, $300/mo., and $517/mo. All of these were the barebones minimum coverage (no comprehensive, roadside, or rental)

As a Republican and Trump supporter, I am no fan of government regulation of business, but this is insane, is far worse than gas pump gouging, and does need government intervention. I asked a number of Republican friends about this, and all of them agreed with me 100%.
 

justinacolmena

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The insurance companies really been ripping me off to spite me to my face, to boot. They hiked my rates, and jacked my premium for vice, and then they went out of their way to arrange fraudulent claims against me. Not just car insurance, or property/casualty. They offer other insurance, too.

Health insurance pays for circumcision, vaccination, wisdom tooth extraction, tonsillectomy, and mental health incarceration and forced drugging.

Life insurance pays out on murder-for-hire contracts.

FIre insurance, and I wonder why insured buildings catch fire at such a high rate as compared to uninsured buildings.
 

justinacolmena

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The type of insurance that covers "emergency" amputations, but won't even pay to set a broken bone in a cast.
 

Moonglow

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Insurance companies are the largest cash holding operations in the US and they have the largest cash reserves of all the industries. I mean look at it this way, we pay for nothing but a possibility.
 

Mac1958

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Opposing Authoritarian Ideological Fundamentalism.
The insurance companies are merely operating for their best interests within a system. That's how it works.

If we really want a "free market", we have to put up with this. To hell with what it does to individual people.

Or, we can do the smart thing, and realize that proper controls are not a hinderance to capitalism, but rather a key component of it.

The longer we allow this to continue, the more ammunition we're giving to those who favor socialism. I'm sure they appreciate it.
 
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wamose

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Only banks, brokers and insurance companies can afford to have their names on our big sports stadiums. And they all do it without producing anything. Those three, along with politicians, are the real robber barons of the 21st century.
 
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protectionist

protectionist

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So funny. You just know this oke will refuse 'socialised' health care in great indignation.
That depends on what you consider "socialized" to be. Refuse VA care for veterans no. Refuse medical care for illegal aliens, yes. If you have a point to make, make it.

PS - your post does not appear to be on topic.
 
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protectionist

protectionist

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The insurance companies are merely operating for their best interests within a system. That's how it works.

If we really want a "free market", we have to put up with this. To hell with what it does to individual people.

Or, we can do the smart thing, and realize that proper controls are not a hinderance to capitalism, but rather a key component of it.

The longer we allow this to continue, the more ammunition we're giving to those who favor socialism. I'm sure they appreciate it.
All this might be overstating. There just needs to be controls on insurance companies, regarding driving a car (almost a necessity), that's all.
1. Abolish PIP.
2. Abolish lapse charging.
3. Abolish zip code charging.
4. Either establish much lower (reasonable) rates, or stop having car insurance be mandatory.

Contacting elected representititives en masse, could change this, But, American SHEEP will continue to be silent, and allow themselves to be robbed, 24/7.
 

ESay

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These villains have a huge advantage over other types of businesses, in that their product is required by law
That is the main point, I think. It seems you need not more government regulations, but on the contrary - fewer regulations. Abolish the law which makes insurance products mandatory.
 
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protectionist

protectionist

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That is the main point, I think. It seems you need not more government regulations, but on the contrary - fewer regulations. Abolish the law which makes insurance products mandatory.
Yes. Insurance companies have clearly shown that they are not capable of properly handling a privilege such as government mandate for their product. And far more money is being lost by insurance companies unfair pricing, than is lost due to uninsured motorists.
 

Gdjjr

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in response to the OT question. Yes. The law writers.
 

Billy_Kinetta

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Insurance is an assumption of risk. You guys need to research what insurance is and how risk assessments are made.
 

justinacolmena

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And far more money is being lost by insurance companies unfair pricing, than is lost due to uninsured motorists
This is true. The insurance companies have gone so far as to make the ownership and title of motor vehicles dependent on the bailment of an assumed duty to carry billable personal injury and property damage liability insurance with a jackable premium.
support for profit health care then complain about it. Very deplorable.
You look at a non-profit hospital by comparison — the managers and directors are living even higher on the hog without any accountability to shareholders — and even most non-profit hospitals are partially run — at least as far as the premises and fixed PPE (property, plant, and equipment including X-ray and MRI machinery and facilities for nuclear medicine) — as for-profit Medical REITs or alternative Real Estate Investment Trusts of land and buildings intended for medical or surgical use.
Insurance is an assumption of risk. You guys need to research what insurance is and how risk assessments are made.
Too much insurance is the cutting of hair into risk and into an expectation of vice where none need exist.

“Unknown unknowns” always remain, but the insurance industry always assumes or imputes or insinuates risk where none need exist.
 

cnm

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Is Anyone In America Worse Than the Insurance Companies ?​

Possibly only the idiots who continually vote to enable the insurance companies then complain about them.
 

justinacolmena

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You look at a non-profit hospital by comparison
You checked my location at all?
Yeah. They're insurance companies. I'm in Denver, Colorado right now, and there's a mega-corporate non-profit conglomerate hospital complex on every block.

Insurance companies make assumptions of vice that are fatal to them. People are scarred by accidents, horribly mutilated and disfigured for life. They get nothing, but movie stars get the best plastic surgery in the world. They're private pay.

There's something about marijuana that always leads to murder, mayhem, malicious disfigurement, and missing limbs. It's not clear what role the insurance companies play in this, but they cut hair into risk and into an expectation of vice.
 

Dayton3

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I've had nothing but good experience with GEICO. They didn't even raise my rates when I sideswiped another car and caused a huge amount of damage.
 

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