Why is car insurance so expensive?
Im 20 and i pay 63 a month for just the very basic essentials to not get a ticket, ive never needed my insurance nor has it done me any good.
My parents pay for a whole bunch of different coverage and when they got into an accident with a drunk driver, the insurance company didnt pay for anything and they hired a lawyer to protect them from having to pay my parents anything.
Why do we need insurance in the first place and why is it so costly? I think its really just a scam.
Comments
1. $63 a month for insurance is super cheap.
2. People under the age of 25 pay higher insurance premiums than anyone else because they are the most likely to be in an accident.
3. Insurance fraud runs rampant and insurance companies pay for it. I cannot tell you how many people try to get stuff repaired that has nothing to do with the accident and the insurance companies bow down and pay for it.
Help yourself - you can check your quotes in internet for example here - DEALSQUOTES.INFO
RE Why is car insurance so expensive?
Im 20 and i pay 63 a month for just the very basic essentials to not get a ticket, ive never needed my insurance nor has it done me any good. My parents pay for a whole bunch of ...show more
It is all relative.
You might think that 63 a month ($2.1 a day) is super expensive while someone else might send a million to Africa for food.
And what about the ones that pay $45.000 a year for education, they might do that for 4 years and at the end they can't even get a job, yet nobody mentions the word "scam".
But yeah I hear you about your parents, that stuff shouldn't happen.
Your cost at your age is very cheap, especially if you have full coverage?
Your parent's insurance company should have paid for all your parents expenses etc. and sued the other driver (and/or their insurance) to recover the actual costs, plus expenses.
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You don't need insurance. All you need do is to post a cash bond with your state to prove financial responsibility. Shouldn't be more than $50,000.00 or so. BTW if you run into me you damn well better have a whole lot of coverage because I will sue you in a new York minute for everything you have now or will have in the future. You can take that to the bank !
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