Insurance Thread

["Al Powell" <apowell@agcom.tamu.edu>]

Regarding the recent insurance thread.....

I am convinced that (and of course, I state the obvious) insurance 
companies use actuarial tables adjusted ONLY to maximize their 
profits.  (aka: figures don't lie, but liars figure...)

Case in point:  My 1983 Datsun 280ZXT vs my 1990 Audi 200.

The Z just MIGHT have a resale value of $4500 on a clear day if
the buyer is crazed for Z-car driving.  It's also motoring around 
with a 47-year-old driver in it.

The Audi is worth $7195 according to Edmunds, $10025 according to 
Kelly (sounds good to me...) so let's say it's worth twice as much at 
$9000. 

Guess which costs a LOT more to insure?  The Z-car, of course!! Even 
though they have LESS cash exposure on the car, they charge more.  No 
adjustment for the driver's age or good driving record, nosiree.

This makes NO sense.  Their exposure to liability is the same with 
either car, because that's based on the DRIVER.  The Z-0car can be 
totaled for $4500 or so, and the Audi would cost twice as much - but 
they charge based on the 17-year-olds driving clapped out old Z-cars.

Don't tell ME those actuarial tables are honest!! They reflect ONLY 
what the insurance companies WANT them to reflect.  Remember, they 
create the tables.

Also - about Shokan...

Seems to me those with poor experiences need to start showering the 
NY Better Biz Bureau with complaints.  Also doesn't hurt to call the 
NY Attorney General's office with complaints if a business is giving 
you real grief.   


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Al Powell, Ph.D.                 Voice:  409/845-2807
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