Dash Riprock
Member
- Jul 13, 2000
- 58
- 0
Originally posted by RoadRash
Monkeybutt - Do you know that StateFarm made $408 million AFTER TAXES last year? And how about $1.03 BILLION in 1999.
That looks like a 50% drop in profit in 1yr. (would you want to be the one to explain this to your shareholders if you were CEO)
This is the company that I happily use and I assume the day I become unprofitable for them they will drop me.
Or raise your rates, as with any buisness when an avenue becomes unprofitable you charge more or move on to more profitable investments. So if you become a liability vs an asset they will most likely raise your rates or drop you.
I'm not directing this at you but I wouldn't lose any sleep worrying about the insurance companies, they seem to be doing ok!
Of course they are that is why they raise rates on high risk drivers.
.
I'm not trying to punish anyone. I was merely trying to point out that the insurance companies are not struggling or on the verge of collapse simply because they offer insurance.Originally posted by WildChild
I just feel every buisness is there to make a profit and I find nothing wrong with that. It seems that if a company makes alot of money (the whole purpose of a company) people want to punish them.
Originally posted by RoadRash
PS: Wildchild - there are more than a million non-profit companies in the US and the vast majority (I hope) are helping other people as opposed to profiting from them.
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