Re: Layoffs hit the Gecko
[Re: Sunroofcuda]
#3185185
10/20/23 01:18 AM
10/20/23 01:18 AM
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Joined: Aug 2019
Posts: 10,049 Super Spudsville
Mr PotatoHead
Half Baked
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Half Baked
Joined: Aug 2019
Posts: 10,049
Super Spudsville
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I got a odd letter in the mail this past week from USAA and some company "Verisk Policy Services" wanting in writing my annual mileage estimate for each vehicle and the current odometer reading. Never been asked about any odometer reading in the past....Print Name, sign and date and return.
Not A... any insight on this and why?
If it matters ive had zero claims in the last 10 years, maybe closer to 15 and it was a comp covered deer strike and one ticket for an exhaust violation.
STOP POTATO HATE!
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Re: Layoffs hit the Gecko
[Re: BloFish]
#3185190
10/20/23 03:28 AM
10/20/23 03:28 AM
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Joined: Jan 2007
Posts: 10,301 A Red State
SNK-EYZ
I Live Here
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I Live Here
Joined: Jan 2007
Posts: 10,301
A Red State
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Basic coverage is going to be the new norm. Yep, feel like a sucker paying for extensive coverage when no one else has any. The new gimmick is "uninsured motorist", so now I'm expected to pay for me AND the guy who hits me. Right I always assumed that was what the uninsured and underinsured was for. It not, it’s only for the medical bills part of the insurance not for damages to or done by the insured. At least that’s what my agent told me.
Kayse can't keep up at all now. lol
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Re: Layoffs hit the Gecko
[Re: SNK-EYZ]
#3185199
10/20/23 07:11 AM
10/20/23 07:11 AM
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Joined: Dec 2007
Posts: 20,328 Puttin' on the foil in Charles...
not_a_charger
OP
Mr. Big Shot Moparts Moderator
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OP
Mr. Big Shot Moparts Moderator
Joined: Dec 2007
Posts: 20,328
Puttin' on the foil in Charles...
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Basic coverage is going to be the new norm. Yep, feel like a sucker paying for extensive coverage when no one else has any. The new gimmick is "uninsured motorist", so now I'm expected to pay for me AND the guy who hits me. Right I always assumed that was what the uninsured and underinsured was for. It not, it’s only for the medical bills part of the insurance not for damages to or done by the insured. At least that’s what my agent told me. That's far and away the most common, yes. Uninsured/underinsured motorist bodily injury coverage protects you if you are injured by someone who is driving without insurance, or who doesn't carry enough insurance to properly pay for your injuries. It does not provide coverage FOR the uninsured motorist. This coverage is nothing new, and it's completely optional. It's not a gimmick, and you don't have to pay for it. There is also uninsured motorist - property damage. This covers your vehicle (typically up to $7,500) if you are hit by an uninsured/underinsured motorist. UMBI is pretty standard from state to state. UMPD varies quite a bit. For example, in Ohio, you can only carry Collision or UMPD on a vehicle, but not both. In Ohio, UMPD only covers your vehicle damages (again, up to $7,500) if you are hit by a confirmed uninsured motorist. It does not cover you for a hit/skip in which the driver is not identified. It's also dirt cheap because the coverage is so narrow. I think I paid around $8/year for this coverage on my 82 F250, for reference. In Texas (and perhaps other states, but I can only think of Texas), you can carry Collision and UMPD on the same vehicle. In some states, this coverage applies if the other driver has insurance, but not enough to pay for your damages. In other states, it only applies if the other driver is uninsured.
Earning every penny of that moderator paycheck.
DBAP
"They don't think it be like it is, but it do." - Oscar Gamble
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Re: Layoffs hit the Gecko
[Re: ChryCoGuy]
#3185208
10/20/23 08:14 AM
10/20/23 08:14 AM
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Joined: Jan 2006
Posts: 8,162 USA
360view
Moparts resident spammer
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Moparts resident spammer
Joined: Jan 2006
Posts: 8,162
USA
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Stock portfolios not doing well? Or maybe the 1% to 3% interest bonds the insurance companies bought in past years now have to be “marked down to market price” creating a “paper loss” for accounting purposes? Banks have this same problem with old bonds even if they intend to hold the old bond until it matures which does not create a actual loss. The Wall Street Journal has an article today titled “Declining Index Points to Economic Downturn” which says the “Leading Economic Index” compiled by the private “Conference Board is predicting a mild USA recession next year. The whole idea of an insurance company is to predict how much money is needed to survive the future, and the future of the next couple years looks darker?
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Re: Layoffs hit the Gecko
[Re: cudaman1969]
#3185229
10/20/23 09:59 AM
10/20/23 09:59 AM
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Joined: Jan 2003
Posts: 10,931 North Dakota
6PakBee
I Live Here
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I Live Here
Joined: Jan 2003
Posts: 10,931
North Dakota
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It’s a shame,! insurance companies having to get into their pocketbook! Insurance is GAMBLING, betting you won’t use it while they still collect premiums every year. When they have to PAYOUT a lot, the rates go up to cover, they’ll NEVER take a loss. I don’t feel any sorrow for the whole lot of con artists. Ain't it the truth. You're betting you are going to have an accident and they are betting you won't and you are paying them to think that way
"We live in a time when intelligent people are being silenced so that stupid people won't be offended".
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Re: Layoffs hit the Gecko
[Re: SNK-EYZ]
#3185236
10/20/23 10:17 AM
10/20/23 10:17 AM
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Joined: May 2005
Posts: 4,869 Florida
BDW
master
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master
Joined: May 2005
Posts: 4,869
Florida
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Basic coverage is going to be the new norm. Yep, feel like a sucker paying for extensive coverage when no one else has any. The new gimmick is "uninsured motorist", so now I'm expected to pay for me AND the guy who hits me. Right I always assumed that was what the uninsured and underinsured was for. It not, it’s only for the medical bills part of the insurance not for damages to or done by the insured. At least that’s what my agent told me. So in FL, a no fault state, why do I have to carry the same coverage for the other driver, as the uninsured coverage? Yes, it pays medical and “pain and suffering” So why can’t I just buy that for myself and not the other driver?
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Re: Layoffs hit the Gecko
[Re: cudaman1969]
#3185246
10/20/23 10:49 AM
10/20/23 10:49 AM
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Joined: Dec 2007
Posts: 20,328 Puttin' on the foil in Charles...
not_a_charger
OP
Mr. Big Shot Moparts Moderator
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OP
Mr. Big Shot Moparts Moderator
Joined: Dec 2007
Posts: 20,328
Puttin' on the foil in Charles...
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It’s a shame,! insurance companies having to get into their pocketbook! Insurance is GAMBLING, betting you won’t use it while they still collect premiums every year. When they have to PAYOUT a lot, the rates go up to cover, they’ll NEVER take a loss. I don’t feel any sorrow for the whole lot of con artists. You can self-insure. And the people losing their jobs at Geico are not the people getting rich off of your premiums. These are the people who make the computer work, who answer the phone when you call, who write the appraisal on your damaged motorcycle.
Earning every penny of that moderator paycheck.
DBAP
"They don't think it be like it is, but it do." - Oscar Gamble
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Re: Layoffs hit the Gecko
[Re: BDW]
#3185247
10/20/23 10:50 AM
10/20/23 10:50 AM
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Joined: Dec 2007
Posts: 20,328 Puttin' on the foil in Charles...
not_a_charger
OP
Mr. Big Shot Moparts Moderator
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OP
Mr. Big Shot Moparts Moderator
Joined: Dec 2007
Posts: 20,328
Puttin' on the foil in Charles...
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So in FL, a no fault state, why do I have to carry the same coverage for the other driver, as the uninsured coverage? FL has surpassed MA as the worst state for consumers when it comes to insurance.
Earning every penny of that moderator paycheck.
DBAP
"They don't think it be like it is, but it do." - Oscar Gamble
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Re: Layoffs hit the Gecko
[Re: not_a_charger]
#3185256
10/20/23 11:19 AM
10/20/23 11:19 AM
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Joined: Dec 2013
Posts: 4,804 Wichita
GY3
master
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master
Joined: Dec 2013
Posts: 4,804
Wichita
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It’s a shame,! insurance companies having to get into their pocketbook! Insurance is GAMBLING, betting you won’t use it while they still collect premiums every year. When they have to PAYOUT a lot, the rates go up to cover, they’ll NEVER take a loss. I don’t feel any sorrow for the whole lot of con artists. You can self-insure. Kansas requires $60k in an earmarked account to self-insure but it is possible and I know people that do it.
'63 Dodge 330
11.19 @ 121 mph Pump gas, n/a, through the mufflers on street tires with 3.54's. 3,600 lbs.
9.92 @ 135mph with a 350 shot of nitrous and 93 octane pump. 1.43 60 ft. 3,750 lbs.
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Re: Layoffs hit the Gecko
[Re: 360view]
#3185260
10/20/23 11:43 AM
10/20/23 11:43 AM
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Joined: Jan 2006
Posts: 8,162 USA
360view
Moparts resident spammer
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Moparts resident spammer
Joined: Jan 2006
Posts: 8,162
USA
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I wondered if there are any “truly mutual owned” insurance companies left in the USA. Wikipedia lists quite a few: https://en.wikipedia.org/wiki/Mutual_insuranceNotice that Ben Franklin founded one for fire insurance. The original mutual idea was that the policy payers own the company and split any profits ( or make up losses) but “the devil is in the details.”
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Re: Layoffs hit the Gecko
[Re: 360view]
#3185262
10/20/23 11:45 AM
10/20/23 11:45 AM
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Joined: Dec 2007
Posts: 20,328 Puttin' on the foil in Charles...
not_a_charger
OP
Mr. Big Shot Moparts Moderator
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OP
Mr. Big Shot Moparts Moderator
Joined: Dec 2007
Posts: 20,328
Puttin' on the foil in Charles...
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State Farm is a mutual company, and the fact that their executives don't really answer to anyone and never have is why they find themselves in their current situation. Most major home/auto carriers are not mutual companies.
Earning every penny of that moderator paycheck.
DBAP
"They don't think it be like it is, but it do." - Oscar Gamble
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Re: Layoffs hit the Gecko
[Re: IMGTX]
#3185267
10/20/23 12:04 PM
10/20/23 12:04 PM
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Joined: Jan 2003
Posts: 12,473 Warren, MI
71TA
I Live Here
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I Live Here
Joined: Jan 2003
Posts: 12,473
Warren, MI
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Do you think it's because of people skipping out on insurance they used to buy, more people making claims to "get free money" wink wink nudge nudge, or gov regulations hurting profits, or ??? Mayor of Detroit says 60% of Detroiters dont have insurance. THATS THE MAYOR SAYING THAT. My son in law, Detroit police officer, said its WAY north of 60%. Said ONLY people with insurance are suburbanites stopped on their way to or from work in Detroit. Just heard a radio talk show where the insurance agent STRONGLY suggested upping your "uninsured motorist" coverage. Hell, I didn't even know that was a thing. If I was King, if you ILLEGALLY didn't have insurance (or a license, or a registration) you car would be SEIZED and sold. But we have become wayyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy to soft.
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Re: Layoffs hit the Gecko
[Re: Mr PotatoHead]
#3185272
10/20/23 12:24 PM
10/20/23 12:24 PM
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Joined: Dec 2007
Posts: 20,328 Puttin' on the foil in Charles...
not_a_charger
OP
Mr. Big Shot Moparts Moderator
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OP
Mr. Big Shot Moparts Moderator
Joined: Dec 2007
Posts: 20,328
Puttin' on the foil in Charles...
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I got a odd letter in the mail this past week from USAA and some company "Verisk Policy Services" wanting in writing my annual mileage estimate for each vehicle and the current odometer reading. Never been asked about any odometer reading in the past....Print Name, sign and date and return.
Not A... any insight on this and why?
If it matters ive had zero claims in the last 10 years, maybe closer to 15 and it was a comp covered deer strike and one ticket for an exhaust violation. Data gathering, potentially to determine if they should track mileage and adjust rates accordingly. I would throw it in the garbage.
Earning every penny of that moderator paycheck.
DBAP
"They don't think it be like it is, but it do." - Oscar Gamble
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Re: Layoffs hit the Gecko
[Re: wingman]
#3185374
10/20/23 09:00 PM
10/20/23 09:00 PM
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Joined: May 2007
Posts: 1,108 Georgia
Matt M
super stock
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super stock
Joined: May 2007
Posts: 1,108
Georgia
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the 3 most well run carriers among the bigs have been Geico, Progressive, and USAA. I've been a member since 1994, I'll say USAA ain't the company it used to be. We used to do EVERYTHING with them. Loans, insurance, investments, etc. Now all we have with them is a savings and a checking account...and I'm thinking about switching over the savings account because the rate is basically 0% I could not agree more about USAA. I have been a member since 1982. They have really slipped I have my daily driver insurance with them and I am shopping it. It went up $185 a month for one car. No accidents 1 windshield claim in the last 10 years...........
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Re: Layoffs hit the Gecko
[Re: not_a_charger]
#3185401
10/20/23 10:02 PM
10/20/23 10:02 PM
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Joined: Oct 2005
Posts: 5,003 WI
Dcuda69
master
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master
Joined: Oct 2005
Posts: 5,003
WI
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It’s a shame,! insurance companies having to get into their pocketbook! Insurance is GAMBLING, betting you won’t use it while they still collect premiums every year. When they have to PAYOUT a lot, the rates go up to cover, they’ll NEVER take a loss. I don’t feel any sorrow for the whole lot of con artists. You can self-insure. And the people losing their jobs at Geico are not the people getting rich off of your premiums. These are the people who make the computer work, who answer the phone when you call, who write the appraisal on your damaged motorcycle. I still have a hard time feeling bad for insurance companies. The premiums I have paid over the last 30-40 yrs FAR outweigh any claims I have made. I have Am Fam for all my stuff and around here they have their name on EVERYTHING!!!
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Re: Layoffs hit the Gecko
[Re: not_a_charger]
#3185441
10/21/23 06:51 AM
10/21/23 06:51 AM
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Joined: Nov 2008
Posts: 5,982 Greenville, PA
redraptor
master
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master
Joined: Nov 2008
Posts: 5,982
Greenville, PA
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I got a odd letter in the mail this past week from USAA and some company "Verisk Policy Services" wanting in writing my annual mileage estimate for each vehicle and the current odometer reading. Never been asked about any odometer reading in the past....Print Name, sign and date and return.
Not A... any insight on this and why?
If it matters ive had zero claims in the last 10 years, maybe closer to 15 and it was a comp covered deer strike and one ticket for an exhaust violation. Data gathering, potentially to determine if they should track mileage and adjust rates accordingly. I would throw it in the garbage. Erie has been doing this for years. I have a work vehicle listed and approximate mileage. The rest are occasional use. No complaints yet. Got clipped pretty hard a couple weeks ago in Akron. Over $7k damage. Hope the woman that hit me has enough coverage.
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