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Things That Are Bullsh*t (2 Viewers)
- Thread starter jbutler
- Start date
improviseallday
Flush
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ChipMonster
3 of a Kind
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My son got T-boned in the school parking lot while backing into a spot. He was clear when he started backing in, but the young lady hit him. After statements by both parties, her insurance company said they were both at fault. I call B.S. He was stopped, clear, and started backing up, and she wasn't paying attention. With no cameras or witnesses though, there isn't much I can provide to counter, other than the math doesn't add up to match her story. He was at the far end of the parking lot, and saw her car just entering that row. He started backing in knowing she would slow down, but didn't. Had the damage been to the back of the car, sure .. I get that. he took it square to the driver's side door and front quarter panel. Not sure hiring a lawyer would do anything without video proof.
anyway, took the car to a body shop, and an an estimate to fix the car. They said $3300, but it could change when they strip it down. Assuming it could go up by 10-20%, I said go for it. It's a 2007 Hyundai, and only worth about 3500 in good condition. Got the final "estimate" today, and it came in at $8200. HELL NO !!! I can put 50% or more on a used car for that amount. Utter B.S. So, now I think I am out a car with no recourse, and their awful insurance company closing the claim saying that they are both at fault. (NOPE).
Insurance is the scam of life sometimes. have to have it, but they fight to keep every penny in their pockets.
FWIW, since the car is so old and not worth too much, I don't carry collision insurance on it.
/rant
anyway, took the car to a body shop, and an an estimate to fix the car. They said $3300, but it could change when they strip it down. Assuming it could go up by 10-20%, I said go for it. It's a 2007 Hyundai, and only worth about 3500 in good condition. Got the final "estimate" today, and it came in at $8200. HELL NO !!! I can put 50% or more on a used car for that amount. Utter B.S. So, now I think I am out a car with no recourse, and their awful insurance company closing the claim saying that they are both at fault. (NOPE).
Insurance is the scam of life sometimes. have to have it, but they fight to keep every penny in their pockets.
FWIW, since the car is so old and not worth too much, I don't carry collision insurance on it.
/rant
BigJackJones
Straight
Is your son alright
Yes, he is fine. At the end of that day, that truly is the most important thing, and that is not Bullsh!t
My son was in an accident recently as well. Low impact collision, but it totaled his car. We thought his car would be worth close to nothing, since it was a 2008 Honda with 200K miles on it. Turns out our insurance company valued it at over $6000, so after our deductible we got a check last week for $5600+. Used cars hold more value than you might think. I was shocked.
Graduate school, man. Has me on the ropes the past few weeks. Life is wonderful relative to a lot of situations, but having your education/degree, future career, paycheck, healthcare, and self-worth all tied into one advisor's opinion of your 70+ hour workweek is insanity.
Sorry to hear Mark. It sounds like the officer rushed the accident report and didn't want to bother/didn't take all of the variables into account.
As for the car, I'd just total it and put it towards a new car, but I think you said that's what you're doing anyway.
ChipMonster
3 of a Kind
It’s a ton of work but worth it in the end. I was so happy when I finally finished mine
My son didn't call the police, which was the big mistake. He wanted to get into school before he was late and didn't know what to do. I don't have my phone with me all day, and he couldn't get a hold of me
Not giving you a hard time, but who took statements from him then? Hopefully a good lesson for your son to always call the police and have them make a report, no matter how minor the damage. You never know when the other party is going to do something weird.
Sorry this happened to you. Does sound like the car is totaled. Glad your son is okay.
Insurance companies can really suck sometimes. It's just like the saying says, you know...
Hang in there! Sorry it is such a rough period. You getting a Masters or doctorate?
Doctorate, home stretch. Simultaneous feeling of been here too long but haven't dont enough. They tell me its normal but it still sucks! Thanks brother.
WedgeRock
Royal Flush
I was thinking about this this morning listening to updates about the Gaza strip... in the US, if a hospital was blown up (or any building), insurance would pay to rebuild it (ignoring the Act of War exclusion). I sometimes wonder if insurance induces people to drive like assholes because there is no accountability...get in an accident, your car gets fixed.
I wonder if it's the same in other countries... and I know there are some states that don't require auto insurance. I wonder if making auto insurance optional would help curtail the amount of lawsuits filed.
Any way, sorry to hear about your car, @krafticus.
The concept you are reaching for is called "moral hazard" - an economics and socio-political phenomenon in which people act less responsibly because they are partly or fully protected from consequences. The classic example is building houses in a hurricane zone or on a flood plain because you know insurance will help cover the eventual loss. If homeowners insurance did not exist and you had to pay full cost to fix or rebuild a home, you are much less likely to build there.
Taxes, regulation, and government intervention can similarly distort the market - sometimes it is a feature, sometimes a bug, sometimes just notable but not good or bad. Governments, for example, that guarantee they will purchase excess crop yields purposely exploit moral hazard because they know farmers may quit the industry if they bear all the risk of weather, crop yields, and market prices (all mostly out of their control). A stable and steady food production is an economic and national security imperative, so government helps shoulder the risk.
Poker Zombie
Royal Flush
When I first moved to Tennessee, insurance was optional. After about 5 years, it became mandatory. The number of TV/billboard lawyers has not changed. People have not become better or worse drivers.
There was always someone looking to shift the blame or demand restitution for an accident. The only difference is that people aren't driven to bankruptcy because they are shitty drivers.
Early AM flights…and farts.
I’ve only got 6 confirmed and about 8 maybes tonight, need more players. That’s BULLSHIT! @Cwaters425 @TheJestyr @Rhodeman77
Poker Zombie
Royal Flush
Farts? Farts are awesome. That first morning fart is like having the heralds trumpinting in the new day for the king.
ekricket
Royal Flush
And they don’t have to ever get any better because we have enabled them. Now they can drive as shitty as they want with no thought to getting better because EVERY other driver out there had to shift their behavior and financials to accommodate their unwillingness to do better.
Normally it takes a village to nurture an idiot, in this case it’s taking a whole nation of drivers nurturing a few idiots along.
Great system. At least I know it’s working great for the insurance companies.
WedgeRock
Royal Flush
So you would disagree that "Insurance is the scam of life?"
Poker Zombie
Royal Flush
Problem with that thinking is that shitty drivers think they are excellent drivers. Even after they cause the accident, they still blame it on "the other guy". Single car vs tree and it's not your fault?
Maybe you think if cars were completely unsafe people would drive better?
Of course that doesn't explain the number of shitty motorcycle riders.
Maybe you think if cars were completely unsafe people would drive better?
Of course that doesn't explain the number of shitty motorcycle riders.
Poker Zombie
Royal Flush
Insurance a for-profit business.
I just don't see a behavioral change because there are fewer repercussions. It's part of the human psyche. It's the reason shitty poker players tell bad beat stories where the villain made an "stupid" call.
But if you've ever parked out on the street, and woke up in the morning to see half of your new car trashed by a sideswipe, you would be happy that insurance exists.
I was.
WedgeRock
Royal Flush
Nobody sees the utility in insurance until they need it.
ekricket
Royal Flush
The market size, measured by revenue, of the Automobile Insurance industry was $348.9bn in 2022.
A total of 278,063,737 personal and commercial vehicles were registered to drivers in the U.S. in 2021.
A Survey from the Insurance Information Institute found an average injury settlement amount of $20,235 and an average property damage amount of $4,711.Jul 12, 2022
On average, there are over 6 million passenger car accidents in the U.S. every year.
There’s some math here if anyone cares enough.
Or we could continue to debate opinions until the name calling starts
WedgeRock
Royal Flush
Insurance is simple: pay premium based on risk of and value of loss. The premium is the likelihood that you'll sustain a loss + profit. The cheaper/more efficient you can process a claim is extra profit.
Insurance coverage is heavily regulated here, and you get largely the same basic coverage from every insurance company. Some add more coverage through endorsements for additional premium, of course.
Insurance coverage is heavily regulated here, and you get largely the same basic coverage from every insurance company. Some add more coverage through endorsements for additional premium, of course.
I can’t argue with that…butt (see what I did there?), I’m not a fan of eating 300 other people’s first morning farts for breakfast.
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