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The New Coffee Room

  1. TNCR
  2. General Discussion
  3. Auto insurance has to be a good business right now

Auto insurance has to be a good business right now

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  • Doctor PhibesD Doctor Phibes

    We insure for business interruption

    😢

    George KG Offline
    George KG Offline
    George K
    wrote on last edited by
    #7

    @Doctor-Phibes said in Auto insurance has to be a good business right now:

    We insure for business interruption

    😢

    How Wimbledon-ey of you!

    "Now look here, you Baltic gas passer... " - Mik, 6/14/08

    The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

    Doctor PhibesD 1 Reply Last reply
    • George KG George K

      @jon-nyc "A cynic is someone...."

      But you're probably right.

      I wonder if the other insurers will follow suit.

      George KG Offline
      George KG Offline
      George K
      wrote on last edited by
      #8

      @George-K Allstate is giving a 15% credit on the next two payments (April and May).

      https://www.chicagotribune.com/coronavirus/ct-cb-auto-insurers-refunding-policyholders-coronavirus-20200410-mbgdnrc47fcdta6yz2bgxdlhny-story.html

      "Now look here, you Baltic gas passer... " - Mik, 6/14/08

      The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

      markM 1 Reply Last reply
      • George KG George K

        @George-K Allstate is giving a 15% credit on the next two payments (April and May).

        https://www.chicagotribune.com/coronavirus/ct-cb-auto-insurers-refunding-policyholders-coronavirus-20200410-mbgdnrc47fcdta6yz2bgxdlhny-story.html

        markM Offline
        markM Offline
        mark
        wrote on last edited by mark
        #9

        American Family is sending a $50 check for each vehicle insured.

        We have 4 vehicles insured so we are getting the equivalent of 25% off our next two months premium.

        1 Reply Last reply
        • AxtremusA Offline
          AxtremusA Offline
          Axtremus
          wrote on last edited by
          #10

          My car insurer says it's also extending coverage to people using their personal vehicles to commercially deliver food, medicine and other goods.

          1 Reply Last reply
          • George KG George K

            @Doctor-Phibes said in Auto insurance has to be a good business right now:

            We insure for business interruption

            😢

            How Wimbledon-ey of you!

            Doctor PhibesD Online
            Doctor PhibesD Online
            Doctor Phibes
            wrote on last edited by
            #11

            @George-K said in Auto insurance has to be a good business right now:

            @Doctor-Phibes said in Auto insurance has to be a good business right now:

            We insure for business interruption

            😢

            How Wimbledon-ey of you!

            Imagine how your numbers would look if you insured Disneyland.

            I was only joking

            1 Reply Last reply
            • George KG Offline
              George KG Offline
              George K
              wrote on last edited by
              #12

              In a somewhat related vein.

              Municipalities are seeing revenues fall because of a drop in red-light camera revenue.

              https://www.businessinsider.com.au/coronavirus-disrupting-red-light-camera-company-revenue-2020-4

              As Americans stay home to help slow the spread of the coronavirus, they’re driving fewer miles.

              That’s great news for everyone: Air pollution is falling, crashes are down, and there’s no blood-pressure inducing congestion.

              Well, almost everyone. For the companies that operate drivers’ most-hated devices – red light cameras – it’s causing a headache.

              Redflex, an Australian company that operates “traffic safety programs” in roughly 100 US and Canadian cities, warned that less traffic and suspended construction amid the pandemic will be a stress on its balance sheet.

              “Approximately 15% of group revenue is dependent on volume-based contracts,” the companysaid in a regulatory filingMonday first spotted by The Wall Street Journal, hinting at its business line that includes enforcement cameras. “We anticipate our revenue from these contracts will be impacted broadly in line with the reduction in traffic volumes as well as the duration of the disruption.”

              Shares of Redflex, which trade in Australia, are down 46% since the beginning of the year.

              "Now look here, you Baltic gas passer... " - Mik, 6/14/08

              The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

              1 Reply Last reply
              • markM Offline
                markM Offline
                mark
                wrote on last edited by
                #13

                Good! Maybe they will go out of business.

                1 Reply Last reply
                • MikM Away
                  MikM Away
                  Mik
                  wrote on last edited by
                  #14

                  State Farm is giving us a 25% refund on our three auto policies.

                  “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

                  1 Reply Last reply
                  • LuFins DadL Offline
                    LuFins DadL Offline
                    LuFins Dad
                    wrote on last edited by
                    #15

                    I haven’t seen anything from State Farm yet.

                    The Brad

                    1 Reply Last reply
                    • George KG Offline
                      George KG Offline
                      George K
                      wrote on last edited by
                      #16

                      Got some cash in my checking account from Allstate last night.

                      "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                      The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                      1 Reply Last reply
                      • HoraceH Offline
                        HoraceH Offline
                        Horace
                        wrote on last edited by
                        #17

                        I'm totally pillaging my health insurance this year. I hit my deductible so now it's game on. Blue cross blue shield can suck on that MRI bill.

                        Education is extremely important.

                        1 Reply Last reply
                        • IvorythumperI Offline
                          IvorythumperI Offline
                          Ivorythumper
                          wrote on last edited by
                          #18

                          I'd guess the life insurance companies are going to be hurting...

                          LuFins DadL 1 Reply Last reply
                          • IvorythumperI Ivorythumper

                            I'd guess the life insurance companies are going to be hurting...

                            LuFins DadL Offline
                            LuFins DadL Offline
                            LuFins Dad
                            wrote on last edited by
                            #19

                            @Ivorythumper Why so? There are fewer accidental deaths and crime related deaths right now, which disproportionately effects the young, which normally mean larger payouts and ahead of schedule. At the same time while there is an increase of the number of deaths, I am finding it difficult to find how many people died last week vs. how many died the same week last year... But I’m sure that the COVID-19 deaths aren’t completely on top of the normal death toll.

                            In addition, as already touched on, this is disproportionately affecting older people, many of whom carry only modest policies or no policy and in many cases, it’s only moving the payoff up by several months. We’ve all seen the story where some doctor estimated that 90% of his patients that died of this crap would have died anyway over the next year. So instead of August, it’s April.

                            Finally, how many people just increased or opened policies? My bet is far more than what is typical.

                            The Brad

                            IvorythumperI 1 Reply Last reply
                            • HoraceH Offline
                              HoraceH Offline
                              Horace
                              wrote on last edited by
                              #20

                              I wonder if the cost of life insurance has spiked because of this.

                              Education is extremely important.

                              1 Reply Last reply
                              • HoraceH Offline
                                HoraceH Offline
                                Horace
                                wrote on last edited by Horace
                                #21

                                Education is extremely important.

                                1 Reply Last reply
                                • jon-nycJ Online
                                  jon-nycJ Online
                                  jon-nyc
                                  wrote on last edited by
                                  #22

                                  Death toll 60% higher than thought based on excess deaths? Wow.

                                  Only non-witches get due process.

                                  • Cotton Mather, Salem Massachusetts, 1692
                                  LuFins DadL 2 Replies Last reply
                                  • Doctor PhibesD Online
                                    Doctor PhibesD Online
                                    Doctor Phibes
                                    wrote on last edited by
                                    #23

                                    I'm waiting to see what Fox News says about these figures before dismissing them out of hand.

                                    I was only joking

                                    George KG 1 Reply Last reply
                                    • Doctor PhibesD Doctor Phibes

                                      I'm waiting to see what Fox News says about these figures before dismissing them out of hand.

                                      George KG Offline
                                      George KG Offline
                                      George K
                                      wrote on last edited by
                                      #24

                                      @Doctor-Phibes said in Auto insurance has to be a good business right now:

                                      I'm waiting to see what Fox News says about these figures before dismissing them out of hand.

                                      Perhaps they can get some advice from Mayor De Blasio as to what to say?

                                      "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                                      The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                                      Doctor PhibesD 1 Reply Last reply
                                      • HoraceH Offline
                                        HoraceH Offline
                                        Horace
                                        wrote on last edited by
                                        #25

                                        The only people who ever talk about or admit to following MSM sources are people hate-watching or hate-listening.

                                        Education is extremely important.

                                        1 Reply Last reply
                                        • George KG George K

                                          @Doctor-Phibes said in Auto insurance has to be a good business right now:

                                          I'm waiting to see what Fox News says about these figures before dismissing them out of hand.

                                          Perhaps they can get some advice from Mayor De Blasio as to what to say?

                                          Doctor PhibesD Online
                                          Doctor PhibesD Online
                                          Doctor Phibes
                                          wrote on last edited by Doctor Phibes
                                          #26

                                          @George-K said in Auto insurance has to be a good business right now:

                                          @Doctor-Phibes said in Auto insurance has to be a good business right now:

                                          I'm waiting to see what Fox News says about these figures before dismissing them out of hand.

                                          Perhaps they can get some advice from Mayor De Blasio as to what to say?

                                          I doubt they'd feel the need to stoop to interviewing Democrats with so many Republicans available to bolster their bullshit.

                                          You chaps all sound the same to me, of course.

                                          I was only joking

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