Zeldman
Touchdown! Greaser!
Yeeks.... And after deep and lengthy 5 second research, looks like a few more states mandated a tax penalty for not having health insurance.
All I can say about those states is what are the voters thinking.??
Allstate Insurance “Sucker” List
- Thread starter denverpilot
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Yeeks.... And after deep and lengthy 5 second research, looks like a few more states mandated a tax penalty for not having health insurance.
All I can say about those states is what are the voters thinking.??
DaleB
Final Approach
Very true. You could go your whole life without ever having to dip into your reserve. Or your house could burn to the ground.
Twice.
wsuffa
Touchdown! Greaser!
Sadly true. I had to take an issue with their banking side to executive resolutions.
wsuffa
Touchdown! Greaser!
Not the voters. The politicians. And most of them are safe because of gerrymandering and the two-party system (with emphasis on "ideology").
Tantalum
Final Approach
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San_Diego_Pilot
They aren't. People are very easy to dupe though, and make them pay for things and have an opinion on something they actually know very little about
If insurance was non for profit and strictly altruistic, IE, a community pot of sorts that people pay into and when someone's luck goes south they take from the pot, and the higher risk group pays more, then fine. But it's not, Allstate's CEO made just over $17,8M in his compensation. I'm all for people making as much money as they can, but when that money comes from people who believe they are putting their money into a reserve they have access to, when instead the executives squeeze that reserve for themselves, that's where the issues lie. How much do insurance companies actually pay out relative to the claims they get?
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SoonerAviator
I wouldn’t mind seeing insurance co-ops similar to how many rural electrics run. Tough to do, since each state usually has its own insurance regs to abide by. Non-profit for the most part and the pool of people could be regionally adjusted.
rpadula
En-Route
Those exist and they have for a long time. They’re called mutual insurance companies. Remember Mutual of Omaha (wild kingdom)? Here’s a US list:
https://en.m.wikipedia.org/wiki/Category:Mutual_insurance_companies_of_the_United_States
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SoonerAviator
Right, I just mean I wouldn't mind seeing them become the more common option rather than the for-profit guys like Allstate, Farmers, etc. I mean, Liberty Mutual (who I use currently and is obviously categorized as a "mutual") plays those same games that AllState does. When you have to play the "insurance company do-si-do" every 4-5 years just to get your rates back to reasonable levels when no claims have been made, there's a systemic problem.
denverpilot
Tied Down
Be careful with mutuals too. Many operate a mutual and non-mutual underwriter and they’ll sell you insurance from either one.
How the mutuals play the game is they only take the lowest risks. Regulators don’t care since the majority get coverage from them anyway, from their non-mutual side.
Amica plays this game hardcore. You have to ask if you were underwritten by the mutual division or not and ask to be switched and quoted the (usually higher) rates of the mutual before accepting the policy.
How the mutuals play the game is they only take the lowest risks. Regulators don’t care since the majority get coverage from them anyway, from their non-mutual side.
Amica plays this game hardcore. You have to ask if you were underwritten by the mutual division or not and ask to be switched and quoted the (usually higher) rates of the mutual before accepting the policy.