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that’s because the insurance model is not based on individual performance but based on a collection of data points. Insurance will jack up the renewal rates fo
by xyst 3y ago
that’s because the insurance model is not based on individual performance but based on a collection of data points.
Insurance will jack up the renewal rates for everyone because there are increased number of accidents in your zip code or area. Cars are more expensive now. Often adjusters just declare vehicles no longer worth the repair. Some vehicles if they get dented will result in a shit ton of work to get it repaired (ie, Rivian truck).
You are paying for the insurance companies increased risk because the people around you can’t drive worth shit.
Got to love car centric transportation …
- giantrobot 3y ago> You are paying for the insurance companies increased risk because the people around you can’t drive worth shit. Insurance companies are supposed to be creating risk pools. If everyone in my zip code drives like shit the insurance company should be splitting them up into pools with better drivers from other areas. There's no reason at all to pool everyone geographically. If the insurance company can't manage risk pools they're fucking up.
- supertrope 3y agoYou can lobby your politicians to mandate coarser rating territories. This will ironically increase premiums more than they otherwise would be. Just like banning credit, gender, homeownership, occupation, etc.