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Old July 18th, 2007, 08:49 AM
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Default Car Insurance..Is this legal?

My dh called our car insurance with whom we had our cars insuranced for well over 10 years. We added the Camry and the rates are a bit high. The lady tried to find some savings and asked my dh he would save a lot of money if he had a degree!!!Is this legal? We never ever had a claim, clean driving records for both of us and yet we pay a lot of money!!!!
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Old July 18th, 2007, 09:06 AM
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As a Professional Insurance agent for over 30 years I can tell you the various insurance companies all have things that they give credit for...
It may be your age, your location, and yes, whether you have a college degree and yes it is legal. In your state of Florida the auto insurance is filed and approved by the state and this means Florida has approved their rate plan including credits and surcharges.

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Old July 18th, 2007, 09:09 AM
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I cannot comment as to what is legal in Florida, I would not be suprised if it is. For example in NJ they can set rates based on your credit rating, give honor students discounts, give you a reduction for a safe drivers course, etc. I believe the view here is the more educated you are the less likely you are to engage in bad driving behavior, the same for a higher credit score and honor students. No doubt the insurance companies have oodles<-----scientific term of statistics to back them up.
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Old July 18th, 2007, 09:10 AM
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Quote:
Originally Posted by Sue
My dh called our car insurance with whom we had our cars insuranced for well over 10 years. We added the Camry and the rates are a bit high. The lady tried to find some savings and asked my dh he would save a lot of money if he had a degree!!!Is this legal? We never ever had a claim, clean driving records for both of us and yet we pay a lot of money!!!!
Sue:
Is it legal? Yes. Insurance companies base this on studies that show that people with higher levels of education have fewer accidents. Does that apply to everyone? Heck no, but they base their premiums on groups and not individuals. So it isn't fair but its legal.

The amount you would save is probably not a large sum. A few dollars over a six to twelve month period. The sum may be greater if you have more cars insured with the company, clean record, no kids on the policy, etc.

Insurance isn't always fair and can be expensive but its one of life's necessary evils. I hate paying the premiums but I have been happy when I have been able to collect the benefits.

Take care,
Mike
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Old July 18th, 2007, 09:35 AM
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We have found a solution for the high cost of insurance....

....we sold our house and both of our cars.

No more homeowners insurance....


No more auto insurance.....


And, since we don't have cars or property where people can injure themselves, no more liability umbrella.

Free, free at last! 8)
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Old July 18th, 2007, 08:54 PM
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It seems to be quite legal and it is done here as well. I have a plan for nurses, and I will admit that my insurance is 8% total lower than a friend living in the exact same house as mine, Attatched for that matter in the same row of town houses as mine...........I also get credits for never having an at fault accident , and not having a claim for accident or theft in over ten years house and car, credit for never having a ticket traffic or parking ticket , as well as alarm system, antitheft in car, smoke detectors in house etc.
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Old July 19th, 2007, 01:00 AM
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Ah Marc..... but do you have life insurance.....?
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Old July 19th, 2007, 03:43 AM
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Quote:
Originally Posted by Cruise Cynic
Ah Marc..... but do you have life insurance.....?
Of course. I also have a renter's policy here in Tokyo.

Still, life is sure simpler without a house and cars.
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