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Irma + Harvey = get ready for higher insurance rates

Discussion in 'Model S' started by Sir Guacamolaf, Sep 11, 2017.

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  1. Sir Guacamolaf

    Sir Guacamolaf The good kind of fat

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    These storms are bad, really bad! And this is literally the start of the season. The losses are already staggering. The larger issue of human suffering not withstanding, a much smaller issue is going to be much higher premiums on auto insurance for all of us, whether or not you are in Texas or Florida.

    Agree/Disagree?
     
  2. Tiger

    Tiger Member

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    Flood insurance was already quite high price before, if you were smart enough to ask for it. Nobody for sure advertised it, guess why. It's not like this came as a surprise to (insurance) companies whose core business is risk assessment competency and profiting from it.
     
  3. ahkahn

    ahkahn Member

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    Funny, I don't seem to remember the last 11 years of insurance dropping due to NO hurricanes....
     
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  4. KidDoc

    KidDoc Supporting Member

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    Insurance companies will use any excuse to raise prices. Considering that at least a million cars were destroyed in Houston alone I'm sure they are going to use this as an opportunity to bump profits.. err prices.
     
  5. Rockster

    Rockster Active Member

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    Slightly off topic: When we traded our 2013 Model S for a 2015 Model S, our insurance rates increased. I asked them why, since our replacement vehicle was configured exactly like the old one. They responded "Because it's a newer vehicle." I replied, "Then why haven't my rates been going down as my Model S aged?" Crickets...
     
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  6. Sir Guacamolaf

    Sir Guacamolaf The good kind of fat

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    Yep Insurance companies lock you in, and then as your car gets older the rate goes higher. Always the case!
    However, with Tesla's especially they are looking for excuses to raise rates. And given the current bill they face, they will have another reason to squeeze profits. Reinsurance etc. distributes the premium rise anyway, but I suspect Tesla owners will get a larger than fair share of this.

    I hate insurance companies! I really do.
     
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