Welcome Guest
Sign In | Register

Yes, it is capitalistic

Posted on: July 22, 2016 at 11:40:02 CT
Mizzou Lou KC
Posts:
36842
Member For:
26.29 yrs
Level:
User
M.O.B. Votes:
0
insurers use actuaries to compute risk based on multiple factors. The 'product" offered based on their computations gives the buyer protection against certain events, and is open to competition by many others offering a similar product.

The risk elements are fluid and can change due to several factors, such as how close your domicile is to a fire hydrant or tectonic fault line, your age and health when purchasing life insurance, or the BMI of people at your company. Adjustments to the level of risk and policy price are fluid based on real life outcome. As with nearly every product and service sold, volume usually equals efficiency not 'communism'.

What else can we help you with?
Report Message

Please explain why this message is being reported.

REPLY

Handle:
Password:
Subject:

MESSAGE THREAD

If a storm hits a certain area, causing damage to many - Sleepy MU - 7/22 11:21:18
     Yes, it is capitalistic - Mizzou Lou KC - 7/22 11:40:02
          Not only is your response almost totally - Sleepy MU - 7/22 11:58:18
               Your logic is flawed. Just because YOUR insurance went up - JeffB MU - 7/22 12:09:38
               "It also focuses solely on the individual" - Mizzou Lou KC - 7/22 12:04:38
                    This is irrelevant to the point made in the OP. - Sleepy MU - 7/22 12:24:48
                         Only because his info doesn't meet your agenda.(nm) - tiger98 MU - 7/22 12:35:52
                         You just aren't capable of understanding the answer - Mizzou Lou KC - 7/22 12:30:47
     It doesn't necessarily go up 'in that area' if you mean - JeffB MU - 7/22 11:30:38
     What evidence do you have that insurance goes up... - Salty Dog MU - 7/22 11:30:34
          Yeah. We had hail damage in this area and home owner - Sleepy MU - 7/22 11:53:16
               I've didn't see that happen in one instance of hail - MIZ45 MU - 7/22 12:26:34
                    The same with us. We had a $40,000+ hail claim one year - JeffB MU - 7/22 12:51:43
               Rates are always changing. That is a function of business - Mizzou Lou KC - 7/22 11:58:53
                    My friends example? There was no example of a friend? And - Sleepy MU - 7/22 12:10:26
                         Insurance is inherently a group collectively paying for loss - JeffB MU - 7/22 12:35:59
                         IF you think I'm making your point, you are more confused - Mizzou Lou KC - 7/22 12:21:12
                              All of that is common sense. Home owners insurance is - Sleepy MU - 7/22 12:29:23
                                   If by 'the collective' you mean that if the number of claims - JeffB MU - 7/22 12:54:45
               and the increase only happened in your area, but nowhere - JeffB MU - 7/22 11:57:48




©2025 Fanboards L.L.C. — Our Privacy Policy   About Tigerboard