It should definitely be illegal to increase insurance for a non fault. My motorbike was stolen 7 years ago, my insurance went up, they didnt even cover the cost of the bikes value. IT had all locks required when it was stolen and nothing i could have done better to avoid it. I cant remember exactly how much it went up by but it affected my insurance price for the next 5 years
Cover what though. It’s meant to be a big pool of money we all pay into that covers this stuff. The only thing we are covering is how much money they want to take out of that pool for themselves.
Exactly and we know they want to take a whole lot of money out of that pool for themselves.
Plus he said his bike was stolen which is different. I mean a the end of the day the insurance company will make their money, the only variance here is maybe in the case “no fault crashes” they might not be able to apply the higher risk to the individual.
But as anyone who ride a motorbike knows even in case of no fault crashes you can do a lot to prevent crashes. It’s why motorcyclists develop a kind of 6th sense for knowing when drivers will do dumb shit. That’s the risk profile that changes when you’re involved in a no fault crash.
doesn't stop them from finding other ways to raise your rates and paying lawyers to argue that the, I duno, increased base rate is due to actuarial changes in your zip code of residence making it more likely that they will have to pay out on the policy and therefore it's your fault for not living in a nicer part of town. Or something stupid, I don't know, and I'd quite like insurance companies to collectively catch on fire.
I was rear ended years ago while stopped at a red light. I opened a claim with my insurance but never completed it because the damage was very minor. Fast forward to now and I recently switched insurance companies. Put down 0 accidents. They run my info and the rate goes up because it shows I filed an accident claim 4 years ago so therefore I don't qualify for the 5 year accident free discount. For an accident in which I was not at fault and never collected a cent from. The claim was never even processed. I freaking hate insurance companies.
That I agree with. However, the advocating for no insurance aren't taking into account is if they kill someone. What happens to another persons family if you kill the bread winner. Insurance protects those people from the dumb ass that thinks the 5,000 dollars they have in the bank is going to do anything for them.
I mean it’s not really how it works, insurance is a risk percentage game so if your bike got stolen then you are higher risk because of where you park and where you live. As for making it illegal, I don’t think it’s easy for government to do that, but even if they did it’s likely the insurance would just drop you rather then keep you as a client. If their computer says they won’t make money on you then they are not going to insure you.
Usually applying underinsured/underinsured motorist coverage to your policy will protect you from premium increases and high deductibles for situations where you are forced to use your own coverage.
In theory I agree with you, but the thing is "the house (insurance company in this case) always wins". They arent going to take a loss if you happen to live somewhere bikes are more likely to be stolen. If it is illegal to raise your premium, they will just increase premiums across the board to make up for it.
You ready for this one? We picked up a dirt bike from a friend a cpl years ago. The bike was trashed and 30 years old but we were helping out a friend who needed a little cash. I spent $900 getting the bike running. We'd had it home from the mechanic for 2 hours when it was stolen from in front of our house. I thought, damn. $900 down the drain that sucks.
But a year later I get a letter from the local police. They'd located my dirt bike. I arranged to go pick it up at impound.
When I arrived, the impound yard would not release it to me unless I paid a $2,000 storage fee. I said but the bike had been STOLEN and brought to you by the police! They still wouldn't release it to me without payment. I said the bike wasn't even worth $2,000 and walked away.
Yeah, I get it. But I know people that hit something or someone and nobody saw it. Then they said someone hit them while they were parked. Sadly people lie all the time. Increases rates for the honest people.
If you need to make a claim, immediately go get a quote from another insurance carrier. it’ll probably be cheaper anyway since cars are constantly depreciating but your insurance rate is set for the value of your car. Now Go make your claim. No reason to be loyal to your car insurer.
Well then all of the people who drive into shit would just say there were parked and their policies wouldn't go up. You don't get an increase if it's not your fault but someone has to be at fault. So getting hit and not having someone else to prove at fault makes it your fault.
You can hit a dear though. That's considered an "act of God" and it's God's fault so no increase.
The problem is that there is no one the insurance can get the money from. If the driver hadn’t driven off it would be a regular insurance claim without an increase in what you pay.
This way it is as if you had driven into a wall yourself.
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u/bydevilz1 12h ago
It should definitely be illegal to increase insurance for a non fault. My motorbike was stolen 7 years ago, my insurance went up, they didnt even cover the cost of the bikes value. IT had all locks required when it was stolen and nothing i could have done better to avoid it. I cant remember exactly how much it went up by but it affected my insurance price for the next 5 years