That's correct. Progressive had a combined ratio of around 85 also, but we are the 3rd largest auto insurer in the United States. It's mostly the smaller companies that are hurting, and it's so many of them that the market OVERALL is unprofitable. It doesn't mean that a few companies aren't doing well.

If the rest of the market was doing well we would have more competitive prices and everyone would benefit.

 

What state might that be?

I am 23, but I have a clean driving history and I pay my policy in full for 6 months. Because of that and my good credit report and proof of prior I am in a preferred market, so I am getting a pretty good rate.

BTW turning 25 years of age is not a discount of any type like everyone assumes it is, and owning a house and being married would only save me about $75-100 a year.

 

Well, maybe not where "you" live! Texas requires liability insurance on all registered vehicles. If they pull you over for any reason, they'll ask to see proof of liability insurance. If you don't have it, they'll ticket you for it.

The problem is, it seems like most accidents I've seen are usually caused by folks who do not have liability insurance. They pay the fines and go happily along their way. Or maybe they don't pay the fines, for a long as they can get away with it. Either way, those of us who "do" carry liability insurance, have to pay higher premiums to cover these other people.

Personally, I think they ought to confiscate the car / motorcycle if the driver can't provide proof of insurance. They don't get the car back until they do. Unfortunately, that would probably be too costly to implement so these people continually get off the hook and keep right on driving illegally and the rest of us get to pay for it.

Drive Safe,
Steve R.

 

What I meant was that if you can't afford insurance or no one will write then you can't have a vehicle. You don't have a right to have a vehicle or insurance. Many people in NYC don't have cars because insurance companies won't write them or they can't afford it. I'm trying to make a point that this will become more widespread if the misrepresentation doesn't stop.

 

Good points Steve, and I can add to that. If somebody doesn't have insurance and they cause an accident, the victim's insurance company DOES foot the bill, as long as they have full coverage (or at least uninsured motorist coverage). However, the insurance company then tries to recover the damages from the responsible party in court, which, if you don't have insurance, can bankrupt you. IMO those people deserve it.

Your second point, confiscating cars, is already being done in New Mexico. We have a huge problem with uninsured vehicles in this state. The fine for not having insurance is roughly $150, plus they impound your vehicle. To get your vehicle back, you have to 1. pay the $150, 2. buy insurance, and 3. pay the towing and impound fees. Hopefully other states will begin using measures like these to keep people driving insured. As a side note, if you go for 2 months without insurance, NM will suspend your registration--and any cop who runs your plate will pull you over in a heartbeat.

 

[QUOTE=Will,Apr 29 2005, 04:57 PM] Your second point, confiscating cars, is already being done in New Mexico.

 

[QUOTE=RyanS2000,Apr 29 2005, 04:17 PM] [QUOTE=Will @ Apr 29 2005, 04:57 PM]
Your second point, confiscating cars, is already being done in New Mexico.