The insurance company can raise the rates for as much as the traffic will bear.. What is the reason for the question..Assuming that the company raised your rates.. by how much ? Your friend in Irving Bill Walker
Wow! You just got a good idea of "Texas Insurance". Motorcycle insurance in Texas isn't governed or regulated. I had a rate hike several years ago which my insurance company at the time (Farmer's) decided to increase their rates on me by almost double. I tried to find some help with TDI on this and wasn't successful. I postponed their increase by bluffing them and saying they were limited to 5% without cause. After a couple days of them checking, they came back and said I had an accident filed on my insurance. Since I had the police report and claim number on the accident they said, and since it was filed as uninsured...I backed them totally down and kept my insurance for another year until they jumped sky high on my homeowners and I dropped them. Welcome to Texas!
Hey Bill - Yeah, the numbers work something like this: original premium = $583.00 new premium = $1428.00 I'll save you some time and do the math for you. It's a whopping $845.00 increase!!!! Or, you might say a 144% increase in my premium. No tickets, no accidents, no claims filed, and I've had this policy for at least three or four years, now. It really pisses me off!! --Fullstate
I can assume that next time I go off on one of my rampages about insurance companies ripping us off, you will be in full support.. LOL.. some have been very critical of my OT posts in regards to this issue.. Your friend in Irving Bill Walker
Well, I have always been in support of lowering insurance costs and all that. I mean, I realize they have to make SOME money, but ripping people off is not the way to do it. BTW - I just spent about 1.5 hrs on the phone with progressive. Get this, when I called 'em over the weekend and argued with them the policy was not going to change. So, this morning I went out on the internet and got a quote online. It was significantly less expensive. So, I called 'em up and started the whole process over again. By canceling my existing policy and then generating a brand new policy I was able to knock $1100.00 off of the grand total. (BTW - there are two bikes on my policy). Is that crazy or what? They couldn't "fix" my existing policy, but they could cancel it and generate a new one with more appropriate rates. And yes, everything is EXACTLY the same (deductibles, etc.). It's still a bit more than I was paying, but I'm much happier with it. --Fullstate
Goes without saying that "most" people ARE in favor of saving money.. especially when it is their own.. "Most" are not willing to fight for the disposition of saving money until their own is affected.. The phenomenom of the insurance companies ripping off the consumer is not new.. This has been going on for many years.. That is always the initial response.. Very typical.. Quite a savings there, isn't it ? How about the frustration that you should HAVE to deal with the matter, in this fashion.. Of course.. many of those who can afford to pay their hard earned money would just put a check in the mail.. Many who don't have the means to pay the high and obscene costs for many of these insurance costs, have to do without the policies and operate their vehicles without coverage.. The mandated insurance legislation must be changed to incorporate mandated limits on the costs of the policies.. Our legislators have granted the insurance companies with a license to steal, and they have taken every advantage of it.. Yours is only one in many thousands who have first hand experience of the collaboration of the corporate interests and our government... I hope that you amonst others will remember your experience and support those of us who struggle to make our insurance legislation more equitable.. Your friend in Irving Bill Walker
Mandatory insurance doesn't have anything to do with who pays.. Whoever is responsible for the accident will pay.. Whether it is the individual or the company.. The most important question to ask, "How much are the premiums for comparable coverage" ? The mandatory insurance legislation isn't ALL bad.. The problem with our legislation in Texas is, the consumer is mandated to have insurance coverage.. The insurance companies are not mandated to provide premiums at an affordable price.. There is no ceiling on what the companies can charge and the consumer is at their mercy since the law requires them to buy insurance.. Your friend in Irving Bill Walker
Technically you are correct.. Splitting hairs and saying that Texas does not have a mandatory insurance law is double speak.. How many of us have the financial wherewithal to provide the mandatory responsibility requirements.. When those insurance lobbyists rammed this bill through our legislators and they all collaborated to sell it to the public, in Texas.. They all knew very well what was entailed and what the consequences would be to the consumers.. As it is written, those hypocritical arguments are typical of the nonsense that have imposed on the gullibility of every Texan who drives.. Yes.. Texas does have a mandatory insurance law that is biased on the side of the insurance industry and is at the expense of all of us.. Your friend in Irving Bill Walker
Also we need to point out that the mandatory finacial responsibility is for liability only. Most of the insurance hikes talked about here (including myself) include optional coverage which is not mandatory. I find that the liability insurance is affordable for those that have good driving records. However this is not necessarily true for those that add the additional coverage. Its the additional coverage that we need some kind of better regulations over.
Parsing the definitions of the legislation is the exercise used by the industry while they were pursuing the bills to mandate the consumers.. By searching and usually going out of state to buy the liability coverages, one can find "affordable" coverage for liability only.. Until the law is changed to include the additional coverages, you refer to, the "affordable" liability coverage can be increased at the whim of the insurance company.. Settling for the propaganda created by the companies and the bought and paid for legislators is what sold this bill of goods to the voters, in the first place.. The insurance commission which is appointed by the governor is a joke that is designed to mislead the consumers.. yet again.. The conception is that if you experience an injustice by the company, all you have to do is to contact the commission and they will take corrective action is a LIE.. Considering the numbers of complaints, the resolutions will invariably be in favor of the companies.. Anything less than overhaul of this system is an exercise in futility.. Fire the commission and appoint a new one, that is selected by someone other than Rick Perry.. Your friend in Irving Bill Walker
You got me confused on this one. Companies can't sell auto insurance to people in Texas unless they are licensed to do so. If your buying insurance from dealers who are not licensed to sell, then don't be surprised if they don't pay off in an accident. Most insurance companies are not based here in Texas, so again I'm not sure what you are talking about.
Why.... If you want to generate your own electricity at your home/ office via diesel generators, but the government tells you that you must instead buy it from TXU, what are you going to say? Or, what if you want to send your kids to private school, rather than public? Can the government force you to go public? These so-called "loopholes for the rich" are opportunities for everyone. Besides, unless you consider the Constitution a "loophole", those options have to be available. Thanks - Gary
Why does everything like this seem to boil down to a political argument(Pubs vs. Dems) with you. I don't know anything about the Insurance commission, and I certainly don't favor the insurance industry. But, I suspect that you can't supply any verifiable evidence that the insurance commission was any better under a Democratic Governor. Obviously, I'm not of your political persuasion, and I don't care or know about Perry, one way or the other. But, I'm pretty sure that Perry didn't implement mandatory insurance, nor do I think he is responsible for these uncontrolled premium problems that are discussed here. So, if you can prove that a former/future Democratic Governor had fixed this in the past/will fix this in the future, then I'll vote for them, hands down. Thanks - Gary
Licensing is another issue altogether.. I'm not sure how many there are, but I understand that there are only a couple of insurance companies actually based in Texas.. I have had coverages from several different companies over the years.. If I called them, I'd be talking to someone in Wisconsin, Minnesota, or some other state.. Quality of the service is another issue (payment of claims).. My concern is for the mandated requirement that is aimed at ensuring the lucrative market share, for the companies.. Your friend in Irving Bill Walker
Just another example that politics affects your life, every day.. The party in control of our state house is republican.. Rick Perry is the (?) leader of that party in Texas.. If you believe that the political environment in Austin isn't insurance company friendly, then you haven't been paying attention.. No secret .. I am a democrat and I don't appreciate what this party is doing to our state and nation during the time they have been in office.. You're Welcome Bill Walker
