Mirage Insurance

[Fummins]

[QUOTE=nickels;100802]"$230 here in Canada”

Don't say "Canad a?

[Wallythacker]

Geico here in Miami, FL

Barebones coverage costs me about $52 per month. And I mean BARE-BONES...... basically the state minimums.
If anyone should be "paying extra" its the behemoths with their selfish choices.

I thought Florida offered a self insurance option. If you could prove you had $200k of assets that could be used to cover you for liability purposes? Is that option gone?

As for behemoths, the whole auto industry survives on high margin Canyoneros. It doesn't cost a whole lot more to make a huge SUV over a Mirage. Figure 2x for the raw materials, steel, plastic, aluminum. labor costs are about the same. So if a Mirage costs $5k to build and sells for $15k and a Tahoe, loaded, costs $10k to build and sells for $75k which vehicle is the company going to push on the public?

Well I'm 25. Honestly there are so many "gotcha, we don't got to pay that because of X" in insurance fine print I don't see it as anything more than getting out of $500 tickets should I be pulled over.

$5000 fine in Ontario with immediate impound at the roadside. Figure on 3x higher ins. premiums afterwards for 5 years.

1. Do you drink and drive?
2. Do you do drugs?
3. Do you use your phone and drive?
4. Do you drive near the speed limit and drive safely?
5. Do you slow down in bad weather?

The problem is you can't evaluate the other drivers around you using the same criteria.

Liability insurance is mandatory here. I do recall only about 10yrs ago here in WI you could roll around legally without insurance.

Not that long ago Ontario had an $18, yes! eighteen bucks! annual option to self insure yourself. If you were liable your license was suspended until you paid out the damages ordered by the court. It was stopped because people simply declared bankruptcy and never paid a cent to those they hit.

And you never will! We don't have pennies up here any more. It is cheap, though. (Not complaining... I've had several run-ins with the health system, and I'm definitely on the winning end of the equation.)

The nickel is now the new penny. Useless and filling up jars. Our health system paid for procedures that would have cost me $400-500,000 in the US.

Meanwhile in America, I watch people get financially ruined at my work because of a loved one getting cancer with no insurance

I thought all county hospitals had to treat you regardless of your abilility to pay. Does county send you home with tylenol if you present in ER with say, a massive MI or stage 4 cancer?

Don't say "Canada" like we all live in the same small town.

Oh, you must live in the igloo village on that other ice floe.

[MacClyver]

Liability insurance is mandatory here.

True, but driving without is easier here than a place like MA since noone asks till you're pulled over.

$5000 fine in Ontario with immediate impound at the roadside.

Think your forced to park it wherever you get pulled over and walk home, and can't drive until you get covered should you get caught. If the car then gets left there you get a orange placard(highway) or parking tickets(street) for a few days before getting towed to impound.


I've came to the conclusion the lax enforcement is due to the fact if you have $50K in a dedicated bank account you can use that in lieu of getting insurance. At the rate I'm paying 50K in premiums will nearly 100 years, versus an account being instantly drained if something should happen. So even if I become the oldest person ever to live that less than to hold insurance which makes it worth it not to strive to use that loophole for me. I know people that insurance won't give reasonable rates to so they make the gamble and go without, certainly without claim of the big bank statement to make it legal.
2500 or 5000 dollar tickets would make an already no brainer even more so.

Anyone else notice this is almost a 6 year old zombie thread?

[Dirk Diggler]

I thought Florida offered a self insurance option. If you could prove you had $200k of assets that could be used to cover you for liability purposes? Is that option gone?

As for behemoths, the whole auto industry survives on high margin Canyoneros. It doesn't cost a whole lot more to make a huge SUV over a Mirage. Figure 2x for the raw materials, steel, plastic, aluminum. labor costs are about the same. So if a Mirage costs $5k to build and sells for $15k and a Tahoe, loaded, costs $10k to build and sells for $75k which vehicle is the company going to push on the public?



$5000 fine in Ontario with immediate impound at the roadside. Figure on 3x higher ins. premiums afterwards for 5 years.



The problem is you can't evaluate the other drivers around you using the same criteria.



Not that long ago Ontario had an $18, yes! eighteen bucks! annual option to self insure yourself. If you were liable your license was suspended until you paid out the damages ordered by the court. It was stopped because people simply declared bankruptcy and never paid a cent to those they hit.



The nickel is now the new penny. Useless and filling up jars. Our health system paid for procedures that would have cost me $400-500,000 in the US.



I thought all county hospitals had to treat you regardless of your abilility to pay. Does county send you home with tylenol if you present in ER with say, a massive MI or stage 4 cancer?



Oh, you must live in the igloo village on that other ice floe.

An ER technically has to treat you yes, its federal law, however that still leaves you with massive bills that will cause many to declare bankruptcy. Also the kind of treatment you get if you dont have money or insurance, is bare bones, borderline negligent. One patient I know, a homeless man with severe mental health issues comes in everyday for dialysis treatment because he has renal failure. The doctors/admins know he cant pay so I heard them strategizing on how to prevent this man from coming in hoping for treatment. They're basically condemning this human being to death because it'll help with their bottom line. This is what my country has become now. Im glad Ill be dead before the dodo really hits the fan here.

[fc321]

I thought Florida offered a self insurance option. If you could prove you had $200k of assets that could be used to cover you for liability purposes? Is that option gone?

Even if they did you have to put 200k in a special account that you cannot touch or draw from to invest with. If one knows how to invest in stock market or real estate they could use the 200k to generate much more profit than $600 per year for barebones insurance.

Like I said earlier, the entire system is in need of an overhaul. It penalizes responsible and safe drivers....forces them to place more poker chips in the pot in order to subsidize the bad drivers. The bad drivers get the major benefit while sucking blood out of the good ones. Then the system "balances itself out". But it is very unfair.

If it was fair then the good drivers would be paying $10 per month and the bad drivers would have rates so high they would be forced to take an Uber. And if that happened the roads would be a safer place for everyone. But politicians and lobbyist bribes have instead created a foul system.

[Pryme]

An ER technically has to treat you yes, its federal law, however that still leaves you with massive bills that will cause many to declare bankruptcy. Also the kind of treatment you get if you dont have money or insurance, is bare bones, borderline negligent. One patient I know, a homeless man with severe mental health issues comes in everyday for dialysis treatment because he has renal failure. The doctors/admins know he cant pay so I heard them strategizing on how to prevent this man from coming in hoping for treatment. They're basically condemning this human being to death because it'll help with their bottom line. This is what my country has become now. Im glad Ill be dead before the dodo really hits the fan here.

It's already a S**t show and you're not old are ya?

I envy the people that lived during this countries best years and punched out by the 1980's or so.

[inuvik]

Let’s wander back to the thread topic

[Mirageman38]

Like I said earlier, the entire system is in need of an overhaul.

Don't even get me started on how broken the system is. How come it is legal to discriminate based on gender, education, occupation, age, zip code and a slew of other things not related to your personal driving experience but not based on ethnicity.

Or why is it legal to charge more for liability just because a car is new and you can supposedly afford to pay more?

The list goes on and on. Even though there are multiple companies they act like a cartel and hardly compete on price.