What’s the tldr?
tl;dr the entire article is a bunch of propaganda from insurance salesmen who profit from making you think their rate rases are legitimate and not just a cash grab.
But industry insiders and experts I spoke with say there are a few under-the-radar trends also driving rates up, and they relate to the subjects I cover at Vox, so let’s dive in.
All you neeed to know. Its a bunch of bullshit they made up and the “journalist” didn’t question. The reality is that all the megacorporations saw the word “inflation” and used it as an excuse to jack up prices.
The reality is that all the megacorporations saw the word “inflation” and used it as an excuse to jack up prices.
Are you saying inflation isn’t real, or what’s your point? Do you know how inflation works? Not jacking up prices means lowering prices.
The key takeaways from the article are:
- Inflation is impacting various sectors, including car insurance, leading to higher premiums for consumers.
- Distracted driving, caused by factors like smartphones, contributes to increased accident rates and insurance claims, further driving up costs.
- Insurers are adapting by implementing new technologies and risk assessment methods to manage these challenges and maintain profitability.
Amazing how if this is to believed they are not only responding to a situation out of their control they are also finding ways to make less money to manage the situation.
Based on personal experience, I’d say it’s because my oldest just learned to drive.
And I use the term “learned” very generously.
Just kidding, they’ve mostly stopped stalling at intersections, so it’s all good.
I keep hearing all these excuses from the insurance industry, usually parroted back to the consumer by reporters. But I have a hard time believing them.
Very anecdotal, but I haven’t noticed a tangible increase in bad driving. It’s about where it has been for the past 10-20 years. And new cars have more and more safety features built in more. I’m just not seeing anything to warrant the insurance increases - certainly not too the degree so many are facing.
Then there’s the excuse about government legislation being the cause. I don’t buy that either. Florida has bent over backwards to placate the insurance industry, and the only thing Floridians have got in return is having their wallets totally fucked.
The sniff test doesn’t just suggest that the underlying major reason is corporate greed, it reeks of it.
My insurance company left my state and another company “bought their book of business”. My insurance went up by 50%. Switched companies and dropped my rates to near last year’s rates but that was mind-blowing to me.
My favorite part is that after the quote they said “it’s required for you to fill out this physical paperwork to complete the process.” I didn’t, because it was getting insurance elsewhere… and they still billed me. I had to call and cancel. Their support didn’t understand why I was upset. She just kept telling me they “bought the book of business” whatever the fuck that means.
