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MX, SX & Off-Road Discussions
General Moto | Off-Topic Posts
Car insurance
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[QUOTE="monkeybutt, post: 152029, member: 23720"] Insurance is not fun to pay for but nice to have when you need it. I would not say it's a rip-off, keep this in mind... Say you have good coverage 100/300/100 , this translates into... $100,000 per person, $300,000 maximum per accident bodily injury if you cause the accident this pays for medical ect. for the person you hit and their passengers. The Last 100 is $100,000 property damage for their car and any other things their and your car hit or damaged because you caused the accident(like other cars,poles,electric boxes ect) with this coverage your insurance company is bound legally to give you a max of $400,000 (300k max body injury+ 100k property damage) If you pay $1000 every six months (which is alot) that's $2000 per year. At $2000 a year it would take 200 years to break even for the insurance company. So one serious accident and the insurance company will never make a dime off you. Even a small payout say $10,000 property damage it'll take 5 years of premium to break even. And on top of that think about all the insurance fraud, all the bad drivers ect.(not too easy to make money) The company puts a big chunk of change on the table for you betting your not going to get in a accident and every time you speed, drop something and reach for it,don't look in your blind spot and mirror when changing lanes or just take chances in hope of getting home sooner you increase those odds they will need to pay out. Even if your the perfect driver and never had a ticket , no accidents ect, all those not so good drivers that do the above may take you out with them. sorry so long just thought I'd shed some light on the company side of things. [/QUOTE]
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MX, SX & Off-Road Discussions
General Moto | Off-Topic Posts
Car insurance
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