Here's a little background on insurance. It started out as "You pay us money so we don't burn your place of living/business down." Now its evolved somehow into something that is a must have for every part of our lives, from healthcare to homeowning. Where is all this money really going?

I along with other "customers paying for the right to be insured like to think the insurance company is here to help me, help me "pick up" the pieces when a event happens (I.E. automobile accident, my house or apt. catches fire, when I get sick, require hospitalization, or other services I may need."
I admit, everytime when I make a premimun payment on my insurance policy, I get the sickening feeling that I have been "shanked" in my kidney. That's paying for an event, I hope will never happen. In the cases of natural disasters, like Hurricane Katrina or the countless other hurricanes which devasted coastal areas of the U.S. The same with my automobile premimuns, I feel like I am being ripped off, but if I was involved in a automobile accident, as long as I am paid up, I will be "okay"
As far as the present administration (the present occupant (s) in the White House) I feel that they have allow the insurace companies to run with the ball, so the customers will get less for his / her investments. It's almost like really paying for protectionist's fees. Then one has to consider where they are living at.
Take for example, if you live along the shoreline of a coastal state. Yes, you sign up for insurance for your beachfront property, which may run into the hundreds of thousands of dollars or Euro or what ever. Then there is the cost of paying for other's misfortunes. Then there is the fees and administrative costs to maintain the insurances in force. Of course, one should't have to pay for another's misfortunes. Yet, we do it every day in one form or another.
Yeah, sure the politicians do get a "donation" going to their cause. Republicians, Democrats plus any other political party on the face of the earth. With that much money coming in and out, how can they not touch the money, especially when the money is being thrown their way. It's too bloody tempting !
Don't forget the shareholders, they get a piece of the action. Like all businesses, the goal of the insurance company is to make a profit, so they can return a "portion" of the investor's money.
Ahh, isn't great to live in a capitalistic nation ?
Insurance companies are never fun to deal with, but think of this way: you pay for a piece of paper that has your signed name on the document, it's not really yours, you're paying for the right to be insured incase of a event or the lose of a loved one or being hospitalized. Ouch ! When it does happen to you, when you file for a claim, you wait and yes, you will wait for compensation. When you do, it's not always what you pay into the policy (the life of), it's better to get a portion or a percentage back your way. Oh well, I hope I didn't bored anyone with my thoughts.

I swear, people are going to buy insurance for ANYTHING one day. Honestly, there is insurance for cars and life insurance. I'm sure insurance companies want some way to make sure people will come and buy from them.
Where does this money go? Some goes in their pockets and the rest is supposed to go back to you if you get into a problem. Funny how people want money as compension instead of their leg back or something.

See, these are the kinds of responses I was hoping for with this thread! Thank you both! And PrarieDogGuy, not boring, more like, I feel like ranting. But its ranting with a reason! Nobody likes to send out money which seems to be somewhat useless for those of us who are careful. And usually, yes, it DOES go to people who are careless. Go figure. Anywho, time for me to DL some wallies, thanks for the replies you two!

I really don't think insurance is really great. Insurance like always is something that you buy but never want to happen, which is why companies take advantage over that by relying on those very fears. They make tons of money off of it, which is how you see when older people or people with accidents, get a higher cost for insurance, because they want to ensure that they make a profit off of it. It really is sad, but oftentimes, having insurance is a ripoff, so it really is best if you find a cheap one.

Most people wouldn't want insurance...and it's costly.
If only we could just go to a damn hospital and get treated with no troubles but then how would the people in the hospital get paid?

Quote by ArcadiosMost people wouldn't want insurance...and it's costly.
If only we could just go to a damn hospital and get treated with no troubles but then how would the people in the hospital get paid?

Taxes, just like anyone else gets paid who serves the public. Which jumps into something a little off-topic of my own thread....We ought to have a flat taxrate on all purchased goods in the US, therefore providing mass amounts of revenue, instead of trying to make money off of what other people are making. It would be a larger amount of funding for such things as hospitals, fire departments, police organizations, and schools. Such a thing would make insurance an outmoded concept, don't you think?

Quote by PrairieDogGuy2006I along with other "customers paying for the right to be insured like to think the insurance company is here to help me, help me "pick up" the pieces when a event happens (I.E. automobile accident, my house or apt. catches fire, when I get sick, require hospitalization, or other services I may need."
I admit, everytime when I make a premimun payment on my insurance policy, I get the sickening feeling that I have been "shanked" in my kidney. That's paying for an event, I hope will never happen. In the cases of natural disasters, like Hurricane Katrina or the countless other hurricanes which devasted coastal areas of the U.S. The same with my automobile premimuns, I feel like I am being ripped off, but if I was involved in a automobile accident, as long as I am paid up, I will be "okay"
As far as the present administration (the present occupant (s) in the White House) I feel that they have allow the insurace companies to run with the ball, so the customers will get less for his / her investments. It's almost like really paying for protectionist's fees. Then one has to consider where they are living at.
Take for example, if you live along the shoreline of a coastal state. Yes, you sign up for insurance for your beachfront property, which may run into the hundreds of thousands of dollars or Euro or what ever. Then there is the cost of paying for other's misfortunes. Then there is the fees and administrative costs to maintain the insurances in force. Of course, one should't have to pay for another's misfortunes. Yet, we do it every day in one form or another.
Yeah, sure the politicians do get a "donation" going to their cause. Republicians, Democrats plus any other political party on the face of the earth. With that much money coming in and out, how can they not touch the money, especially when the money is being thrown their way. It's too bloody tempting !
Don't forget the shareholders, they get a piece of the action. Like all businesses, the goal of the insurance company is to make a profit, so they can return a "portion" of the investor's money.
Ahh, isn't great to live in a capitalistic nation ?
Insurance companies are never fun to deal with, but think of this way: you pay for a piece of paper that has your signed name on the document, it's not really yours, you're paying for the right to be insured incase of a event or the lose of a loved one or being hospitalized. Ouch ! When it does happen to you, when you file for a claim, you wait and yes, you will wait for compensation. When you do, it's not always what you pay into the policy (the life of), it's better to get a portion or a percentage back your way. Oh well, I hope I didn't bored anyone with my thoughts.

Interesting....but really what does politics has to do with insurance?

Now, insurance for my car, boat and home? Yes.

Why? Because if some asshat decides to hit either my car or boat, I will be covered. Do you think I will trust the asshat to pay me personally for damaging my property? Now if my car is totaled and my boat sank, I will expect my insurance company ot hook my up with another one of equal or slightly lesser value. Now for my home, that is a different story. I would not buy a beachfront house (or a house in the middle of tornado alley) that is not storm-proof, thats common sense. If I do buy one, I will fix it so that it is storm-proof. Insurance companies deducts money from your premium if you storm-proof you home....more money in my pocket and a higher resale value for my home. So if a storm damages my home, I do not have to hassle with red tape in getting my moneys worth back.

But it don't work necessarily work that way. Especially if the other party is either uninsured or the insurance company is extremely shady *cough* Statefarm *cough*. Then lawyers are involved (which eventually comes out of your pocket) and lengthy procceding and arbitrations (again out of your pocket later), soon, you will either come out with less then what you paid for or you wind up owing them! This is the work of the business, not politicians. Politicians doesn't dictate how an insurance company should be ran, unless he owns it.

Health insurance should be free across the board. Simple. It is the doctors job to save lives, not get paid for it...

Wait, better yet, the doctors should be paid by the government using our taxes so that can cover free health care for all.......wishful thinking thats all.

What do politicians have to with anything as the insurance companies to do ? They can pass legistslation that could place "caps" on rising insurance costs being past on to the consumers at large. The politicians could pass laws making the insurance companies be more accoutable to the paying public. Of course, the paying consumer is and has been seen as the "bottomless water trough".

Of course the best medicine is for the consumers to shop around for the best deals, do research on the internet/ libraires and talk with their friends/ family members who have done business with the insurance companies.

yes i believe that insurance just make the political people rich

merged: 04-26-2007 ~ 03:17am
the insurence myght also help us but anyway before that we will get cheeper with only pay when we have to

well, either way, you still have to pay it, car insurance is required. The scam has benefits and drawbacks . . .

Actually the lawyers cost should never come out of your pocket in a case that you win.
As for insurance as long as it is a good honest and reliable company (they do exist believe it or not) then it is still a scam unless something actually occurs that requires the insurance to take effect. Then it becomes a wonderful thing and nowhere near the scam it was thought to be.

I think you buy the insurance isn't for today,and you ,too.

There are many kinds of insurance ,most of them seem all

have an advantage to your child...It means ,although you

can't enjoy the money today ,but you can give them to your

next generation...and then ,loop and loop...

Certainly, some types of insurance are getting out of hand, however should that one in a million chance occur and the home you live in, with all of your belongings burn down, insurance does help quite a bit. Sorry, no conspiracy bandwagon for me.

No, I believe we need insurance to keep us secure and legal, but in other words it's hard to not to see insurance as nothing but a scam when it comes to placing a claim against insurance companies.

Nice to see some of you have looked at the positive side of the argumentation as well, hehe. I just think that perhaps we've let things get a bit out of hand. If those who did not take responsibility for their actions had some sort of actual repercussions, then there probably wouldn't even be a need for something like car insurance. I agree about the home insurance though, I've got a large collection of things I'd rather not burn up, hehe.

Insurance is a total scam. It just not an obvious scam. Insurance means to ensure but they don't ensure us, they scare us. Insurance take away money by deceiving convincing people.

Well...of course it's important.

My dad's an insurance broker. He always tries to lower the cost to the client, and when something does happen to them, he tries his hardest to make sure they recoup their losses. The money the client pays goes to the Insurer (the BIG insurance company), the underwriter (someone working for the Insurer who calculates risks and prices) and the broker (someone who negotiates between the underwriter and the client). And most of the money goes the Insurer, trust me.

Insurance really is quite useful. However, if you want to walk on the wild side, by all means, forego insurance. Just...um...invest in kung fu as well.

It makes you feel safe about taking small risks in life, and its not only for careless people- since accidents can happen indiscriminate and can screw up your life. And taxes is a naive answer as an alternative if you just think about it longer.
People who say insurance is a scam are just oblivious to the risks we have in our so called sheltered lives.

Well, it's not a scam, if (a big if) you read the fine print, which no one does. So if you get singled out for something that doesn't bide by what they're policy is, well, that's sort of your fault. It isn't a scam if you read it and find it sensible or not. Read it so that everything that you will find possible won't screw you over because it's not in the policy. Read the fine print people!

From personal experience insurance sucks. Huge monthly payments and when medical attention is needed, it's never approved. It's lucky the injuries aren't life-threatening, but what if it was?

Obviously if other countries can give it to a whole nation of people for free, paying for it is a massive scam. If others dont need to do it, then we dont either. Paying for something your country can provide to you for free is a big scam.

The idea behind insurance is sound however as we have seen with recent disasters the program has broken down. If we don't keep our end of the contract we are immediately dropped from our policy one simple missed payment and we are kaput. However some of the companies on the other end of our contracts do not seem to honor their end and we have no say about it at all. It is absurd that large conglomerated insurance companies are able to back out of paying policies because of vague loopholes in defining damage. What has happened to the consumer at every turn we are taken advantage of.

it's good if the insurance's approval and conditions are not too tight......
but unfortunately, it had been gotten from worse to disaster......