3 ms·
I heard from a person who works at one of the largest insurers around the east coast. That the only real reason they raise rates it because the amount of fraud
by millzlane 3y ago
I heard from a person who works at one of the largest insurers around the east coast. That the only real reason they raise rates it because the amount of fraud in certain areas. It's also greed too. But their justification is the fraud in an area. They know the guy who is in collections with his loan, and has missed his last two insurance payments didn't just have a random hit and run with a stolen car in a back alley in Baltimore. They just can't prove that.
- olyjohn 3y agoThat's because they are not allowed to raise rates willy nilly. They have to have justification, so if they can find it, they will use it.
- HWR_14 3y agoThere's also the risk when more drivers start driving uninsured that the company will have to pay out even if the company the driver is at fault. Drivers are more likely to do that when the choice is between insurance and rent or as insurance goes up in general.