Your personal driving record counts, but not when it comes to the overall rate level that has to be charged. Deadly crashes are up 8% in 2015 alone. 38,000 people lost their lives. That's just the death toll. Cost of injury claims is up also: liability for bodily injury was up 32.1%, PIP (personal injury protection, also called no-fault ins.) cost per claim was up 38.2% (this for 2005 to 2013, data from Insurance Research Council). Overall crashes are up to about 2.7 per million miles driven in 2014, it was just at 2 per million in 2013. Loss costs increased in excess of 7% in just one quarter of 2015 and the line of on the graph is heading up from the bottom of a downward trend that ended in the 1st quarter of 2014. Blame health care costs and higher crash repair costs.
Companies are facing low premium growth, higher claim counts and higher per claim payments, and these costs are inflating so fast that they can't get enough increase in premium to break even, let alone make any profit. My own company in just commercial insurance is paying out about $1.30 - 1.40 on every dollar of premium we take in on auto ins. and it gets worse every quarter. Remember that insurance, especially auto insurance, is one of the most highly regulated types of business in this country and states don't move fast on rate requests and are generally loath to grant increases unless thoroughly justified.
Until the crash rate comes down and health care costs moderate auto insurance premiums will not stop increasing. Best to find the best rate out there and mind your own driving habits so you aren't contributing to the problems.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Earthmaster Project Progress Just a little update on my Earthmaster......it's back from the dead! I pulled the head, and soaked the stuck valves with mystery oil overnight, re-installed the head, and bingo, the compression returned. But alas, my carb foiled me again, it would fire a second then flood out. After numerous dead ends for a replacement carb, I went to work fixing mine.I soldered new floats on the float arm, they came from an old motorcycle carb, replaced the packing on the throttle shaft with o-rings, cut new ga
... [Read Article]
Latest Ad:
1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
