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Old Dec 4, 2012, 12:32 AM   #26
marc11
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Originally Posted by Damolee View Post
I know how they work. I also know for a fact, that even if claims were to drop tenfold, they still wouldn't reduce their premiums in the long run. It would be deemed a glorious era of profits for them and the shareholders would pat them on the back.

The number of young people making motor claims here actually dropped 10% in the past few years but premiums continue to rise way above inflation, but only for the young. They are effectively using a stereotype to justify it now.

I know it's not ethically right, but neither are the practices of many financial services practices and the detrimental loss to the individual far outweighs theirs on the grand scheme of things.

Besides, it is hardly fraud if he already has home insurance in place is it. The accident did actually happen. LOL

Okay this is a bit off topic, but just to answer your one point. There are a lot of factors that go into premium increases. You only see one factor, accidents in one sector are reduced. But you do not know for sure if the number of new drivers has increased, thus creating an increase in risk to the company for loss. Also, the reinsurance market, ie the insurance companies for insurance companies took a beating the past couple of years and have hardened the rates, so insurance companies are paying more to transfer their risks and thus they pass those costs onto us and finally, the financial markets are in the toilet, the main income for an insurance company is investing the money from premiums and making a return. With rates and markets in the toilet, insurance companies are not making the returns they need and so, that shortfall comes from...you guessed it, us!

Yeah I know it bites, but insurance is not as evil as people think, oh its evil, but not as much as people really think.
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Old Dec 4, 2012, 12:43 AM   #27
Damolee
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Originally Posted by marc11 View Post
Okay this is a bit off topic, but just to answer your one point. There are a lot of factors that go into premium increases. You only see one factor, accidents in one sector are reduced. But you do not know for sure if the number of new drivers has increased, thus creating an increase in risk to the company for loss. Also, the reinsurance market, ie the insurance companies for insurance companies took a beating the past couple of years and have hardened the rates, so insurance companies are paying more to transfer their risks and thus they pass those costs onto us and finally, the financial markets are in the toilet, the main income for an insurance company is investing the money from premiums and making a return. With rates and markets in the toilet, insurance companies are not making the returns they need and so, that shortfall comes from...you guessed it, us!

Yeah I know it bites, but insurance is not as evil as people think, oh its evil, but not as much as people really think.
It is a necessary evil, as such. In your lifetime you will pay them enough for thousands of iPhones, claiming for one of them isn't a crime. Especially you have it in place already. That is what it is there for.

But who knows, the OP might be loaded to it doesn't matter.
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Old Dec 4, 2012, 12:58 AM   #28
marc11
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Originally Posted by Damolee View Post
It is a necessary evil, as such. In your lifetime you will pay them enough for thousands of iPhones, claiming for one of them isn't a crime. Especially you have it in place already. That is what it is there for.

But who knows, the OP might be loaded to it doesn't matter.
If you have insurance, making a claim is your right and you should have the expectation to be paid. However, damaging something, then placing insurance on it for the main and only purpose to have it repaired is illegal and a crime.

Insurance is about trust, you trust that the insurance company will pay in good faith if a loss occurs and the insurance company trusts that you were honest about the condition of the asset at the time of placing the coverage and that you do your best to keep the asset free from damage. A breach of that trust by either party breaks the system.
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Old Dec 4, 2012, 01:19 AM   #29
Bako-MacAddict
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Damn these screens are really expensive ... I'm actually considering buying apple care now ... I figured since its an easy install with these new iphones no problem but looking at this price I'm having second thoughts ... I have 28 days to add it .. hmmm

http://www.directfix.com/product/IP-...iate=decnews12
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Old Dec 4, 2012, 03:01 PM   #30
wknapp0924
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Originally Posted by 5enohpi View Post
My wife broke her iPhone screen when it flew out her lap as she was exiting her car. She had a little cheap elago case that covers the back but the front screen got shattered. I'm not sure what my options are. I read on the forum that my only option is a $229 replacement. Can anyone share their experience?
If you bought the phone with an American Express card you would be covered for replacement with their 90 day Accidental damage warranty. If you do not have AMEX, get one. I use it for every tech purchase just for the warranty.
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