Comments on: The Riskiest Decision of Your Life

By: Ron

Ron — Tue, 04 Mar 2008 01:43:14 +0000

@Jenn
You’re exactly right, BINDING arbitration at that. Some policies have the insurance company able to choose the arbitrator with ZERO input from you.

Great point!

By: Jenn

Jenn — Tue, 04 Mar 2008 01:33:22 +0000

I would also add to this…
Realize that when you sign your car insurance you are agreeing to arbitration with them if there is a dispute, not court with a judge/jury.

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By: Carnival of Personal Finance #142 - The Homeless Edition — The Baglady

Carnival of Personal Finance #142 - The Homeless Edition — The Baglady — Mon, 03 Mar 2008 07:50:42 +0000

[...] Ron@TheWisdomJournal from The Wisdom Journal presents The Riskiest Decision of Your Life. [...]

By: Ron

Ron — Sun, 02 Mar 2008 01:23:20 +0000

@Andy Wood
I need to make that call again. Last time there wasn’t much difference, not enough to matter anyway.
I think a lot of insurers have gotten addicted to high net profits without those “pesky claims,” then when the claims DO start rolling in (aka, hurricanes Rita/Katrina), they raise rates so their profits aren’t affected.

By: Andy Wood

Andy Wood — Sat, 01 Mar 2008 15:15:36 +0000

Increasingly, car insurers are using selected items from your credit report as an occasion to evaluate your risk (according to them) and raise your rates. We had a really good year last year – finished Ph.D., moved into bigger house, really good zero-balance credit card, etc.

However, our car insurance went up more than 25%. Wrecks? None. Tickets? No new ones. The culprit? All those new credit accounts. Somehow they have decided that I’m going to wreck my car because I changed my address and now mkae more money.

Hey, you know all those “15 minutes will save you” commercials? I just made the call. They weren’t kidding.