Wednesday, 4 July 2018

I’ve Been Ordered to Subsidize A Large Corporation’s Losses

I’ve been told that it’s fair, that it’s just “Market Forces” and all that. I have no choice, after all someone has to make up those losses, so it may as well be me, right?

What am I talking about? Well, it is truck insurance time and so I got my renewal notice from my insurance company that I have been dealing with for a number of years.

It was $200.00 higher than last year despite that I cost them nothing and am no greater a risk than I was last year.

Last year’s insurance went up to, with the same explanation “We’ve experienced a large number of claims and so our rates have to go up to cover that.”

Translation: “We’ve lost money and so you have to make up for that.”

I have shopped around with the help of an Insurance Broker friend of mine to see if I could get anything cheaper elsewhere . . . nope. They’re all doing it.

I guess it isn’t collusion if the whole industry (or all insurance companies are doing it). That’s just the MARKET FORCING all of us to pay more when it is not justified.

I have incurred no tickets, speeding, parking or otherwise. I as an individual do not deserve to be charged more when I have done my part and not incurred them any extra costs.

They’ll drop their rates once they make their cash back . . . right?  . . . right?

Of course not. That’s because the “Market” can “Bear” to pay more. either that or not drive, and let’s face it, our cities are not laid out to live economically or efficiently without a motor vehicle.

So, I will pay the increase and just hope that the pendulum swings the other way, that I may get a break sooner rather than later.

The one thing I will not do is go on the monthly plan for insurance again. Let me let you in on a little secret, you are financing your insurance through a bank.

Look at the fine print, you are paying somewhere around 7% or so to a bank for the privledge of borrowing the amount for the full year’s worth of insurance.

Save the interest, save the cash and pay for it up front, if you can. (After all, you have to save cash wherever you can.)

As always: Keep your head up, your attitude positive, and keep moving forward!

1 comment:

  1. Insurance; the world's only legal ponzie scam!

    ReplyDelete