Speaking of insurance.....

[ccsial]

Illinois requires insurance. You are asked for your policy number on your plate renewal. But, I know three people this year that have been hit by drivers with no insurance. These people have nothing and have no way to pay for damages. The law simply does not work in my opinion. The responsible people have insurance and the others don't, law or no law.

I was discussing this with my wife earlier this year and she said she has not even noticed the insurance request on the back of her plate renewal and has never filled them out. She still got the plates. I guess they don't bother to check anything.

 

[tungularafishcamp]

Are there any states left that don't have mandatory insurance laws? We got it here a few years ago, doesnt seem to be working as there are still lotsa uninsured motorists out there and my USAA rates have risen 3 times in the last 5 years with no claims by me or my family, go figure??

 

[adjusterr]

Storm 56: Thanks for being the voice of reason in this never ending controversy. The insurance industry has always been the subject of complaints by both policyholders and claimants, primarily because the complainants never take the time and effort to read the policy they purchased or, in the case of claimants, to study enough law to understand why a claim was not paid. I worked as a Multi-line Claims Adjuster from 1968 until I closed my business and retired in 2005. What many people fail to understand is the insurance policy is a simple contract and the terms of that contract spell out what and how much the company will pay. The agent or adjuster does not have the authority to decide whether or not a claim will be paid or how much will be paid. The adjuster is charged with the responsibility of investigating the circumstances and applying the terms of the policy, the policy determines coverage and payment. Unfortunately, as with any industry, there are some power-mad bums in the adjusting business, they make it rough on those of us who worked hard to complete the claims process in an honorable fashion. I have never settled a claim with an individual, whether by payment or denial, that I could not later meet and speak with that person. There are always stories about the adjuster who wouldn't pay a claim but seldom do you hear of the adjuster or agent who showed up at a loss in the middle of the night and helped the policyholder or claimant through a very trying situation. Thanks again for your contribution.

 

[mjncad]

Before my wife and I got married, State Farm would not insure us for homeowners and auto policies because we were shacked up at the time in spite of clean driving records and a claim free record on my house.

I called up Allstate, and they said no problem, come on over.

Mind you, I still think of insurance as a legalized protection racket, and insurance agents/salesmen as little better than politicians and lawyers.

 

[kenstrac]

Are there any states left that don't have mandatory insurance laws? We got it here a few years ago, doesnt seem to be working as there are still lotsa uninsured motorists out there and my USAA rates have risen 3 times in the last 5 years with no claims by me or my family, go figure??

NH dosn't require insurance unless you have a bad driving record or a DWI.

 

[ccsial]

My biggest fear in all this is that someday auto insurance is going to end up like health care. Gummint insurance.

 

[aczlan]

But, I know three people this year that have been hit by drivers with no insurance. These people have nothing and have no way to pay for damages. The law simply does not work in my opinion. The responsible people have insurance and the others don't, law or no law.

That is why I carry a underinsured/uninsured driver rider on my auto policy. It is a few dollars more (~$60 every 6 months for $100k/person, $300k/accident on both cars), but if some uninsured person hits my car, I want it taken care of.
According to my ins co, it is mandatory to carry $25k/person, $50k/accident uninsured motorist coverage in NYS

Aaron Z

 

[Bird]

That is why I carry a underinsured/uninsured driver rider on my auto policy. It is a few dollars more (~$60 every 6 months for $100k/person, $300k/accident on both cars), but if some uninsured person hits my car, I want it taken care of.
According to my ins co, it is mandatory to carry $25k/person, $50k/accident uninsured motorist coverage in NYS

Aaron Z

Texas, too, only requires 25k/50k/25k coverage at the current time, but as of January 1, 2011, that increases to 30k/60k/25k. That will cover most fender benders, but could be far short in a serious accident. So I, too, carry 100k/300k/100k liability insurance. My 100k/300k/25k uninsured/underinsured coverage for 2 vehicles currently costs me $88 a year. I do prefer the annual policies to the 6 month policies some companies sell.