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The cost of a Lamborghini Aventador is about 21x that of a Civic, give-or-take. I would expect that repair or replacement costs covered by insurance to have a s
by kashunstva 3y ago
The cost of a Lamborghini Aventador is about 21x that of a Civic, give-or-take. I would expect that repair or replacement costs covered by insurance to have a similar sized differential; so if the Civic driver isn’t partially subsidizing the Lamborghini, shouldn’t the driver of the latter be paying $35700 in insurance premiums?
- fwlr 3y agoWould the likelihood of a crash be the same between a Civic and an Aventador? A priori, I would assume they would be different. By how much, I don’t know - but I imagine the insurance companies do know, and they’re pricing the insurance respectively. Insurance companies also change their price based on the gender and age of the driver and how much they use the car. Insurance companies are businesses who want to make money so they’ll charge as much as they can, and they’re also competing with other insurance companies so they’ll also try to undercut each others prices. My point is that they have a lot of data, a lot of incentive to use that data, and a lot of pressure on their pricing. There just doesn’t seem to be very much room to also fit in “let’s all fuck over poor people to save rich people some money”.
- MichaelZuo 3y agoNo, the bulk of insurance premiums are to cover human injury. Only a small portion is needed to cover damage to the cars involved. Well not so small when it's an Aventador, but still the ratio is not anywhere near 21x.