5-10mph over or go the speed limit?
Lexus Fanatic
Joined: Oct 2003
Posts: 94,422
Likes: 249
From: Virginia/D.C. suburbs
Safety, to them, IS money. All else equal, the fewer accidents people have, and the less-severe those accidents, the less they pay out, and the more money they keep.
Mine (GEICO) has sure treated me pretty well for the last 35 years, even with the very low rates I'm paying them. Seems like the older I get, the more discounts they keep giving me, even for the same coverage limits....some of those discounts were totally unexpected, like the almost 50% rate cut I got on my policy a few years ago, because of a study in Virginia that found new risk levels. Most Buicks are usually also driven quite conservatively, and have a good accident record....certainly not like Mustang GTs LOL. 
Insurance companies are NOT your friend.
Last edited by mmarshall; Jul 5, 2018 at 12:56 PM.
Lexus Test Driver
Joined: Sep 2016
Posts: 8,575
Likes: 391
From: PA
I disagree with it being about "your mind". You can't argue with results though. People with fewer traffic violations and fewer accidents should have lower premiums, particularly the accidents. If a person is consistently getting in accidents, something tells me they are going to continue doing so unless they have an intervention.
Lexus Fanatic
Joined: May 2012
Posts: 68,631
Likes: 4,045
From: Maryland
But what they care about is money. Make no mistake about that.
Mine (GEICO) has sure treated me pretty well for the last 35 years, even with the very low rates I'm paying them. Seems like the older I get, the more discounts they keep giving me, even for the same coverage limits....some of those discounts were totally unexpected, like the almost 50% rate cut I got on my policy a few years ago, because of a study in Virginia that found new risk levels. Most Buicks are usually also driven quite conservatively, and have a good accident record....certainly not like Mustang GTs LOL.
Originally Posted by Johnhav430
I'm not complaining, but imagine, you have a better FICO score, and you pay less. Yes, I benefit from a stupid policy like that, but I can understand how it really has little to do with driving. They would say you have a 840 Experian FICO, you're a better risk than someone who has a 640. I would maybe say you're more likely to get in an accident with a BMW loaner, rather than something else
The correlation of FICO score to rate is very small unless your credit is REALLY bad. As in, if its over 650 you're all in the same class.
Lexus Test Driver
Joined: Sep 2016
Posts: 8,575
Likes: 391
From: PA
Safety, to them, IS money. All else equal, the fewer accidents people have, and the less-severe those accidents, the less they pay out, and the more money they keep.
Mine (GEICO) has sure treated me pretty well for the last 35 years, even with the very low rates I'm paying them. Seems like the older I get, the more discounts they keep giving me, even for the same coverage limits....some of those discounts were totally unexpected, like the almost 50% rate cut I got on my policy a few years ago, because of a study in Virginia that found new risk levels. Most Buicks are usually also driven quite conservatively, and have a good accident record....certainly not like Mustang GTs LOL.
Mine (GEICO) has sure treated me pretty well for the last 35 years, even with the very low rates I'm paying them. Seems like the older I get, the more discounts they keep giving me, even for the same coverage limits....some of those discounts were totally unexpected, like the almost 50% rate cut I got on my policy a few years ago, because of a study in Virginia that found new risk levels. Most Buicks are usually also driven quite conservatively, and have a good accident record....certainly not like Mustang GTs LOL.
When I wanted an original windshield because my glass cracked due to a stone, I went round and around with the lizard co. for 40 min. The rep was playing a game. If it were a YouTube, the meme would say, "Repair or safelite!"
Probably bonused if they didn't have to shell out for a Saint Gobain Sekurit OE BMW windshield. Oh they paid for it, no question. They covered it. But they gave me a hard time on the phone for 40 min. The other forum got a good laugh about it, I remember someone saying excellent. You should have told the rep to make you a sammich!
The denial business is very good indeed!
Moderator
Joined: Nov 2016
Posts: 9,606
Likes: 4,788
From: GA
Do you have a perfect record, i.e. never had a claim? As mentioned, I now refer to incompetence as "Broward Co." That sheriff almost retired with a perfect record (he still gets $8,700 mo. as his pension), yet when he was needed, he stood outside and froze. In other words, how many things are never tested, and nobody knows they can't cut the mustard?
When I wanted an original windshield because my glass cracked due to a stone, I went round and around with the lizard co. for 40 min. The rep was playing a game. If it were a YouTube, the meme would say, "Repair or safelite!"
Probably bonused if they didn't have to shell out for a Saint Gobain Sekurit OE BMW windshield. Oh they paid for it, no question. They covered it. But they gave me a hard time on the phone for 40 min. The other forum got a good laugh about it, I remember someone saying excellent. You should have told the rep to make you a sammich!
The denial business is very good indeed!
When I wanted an original windshield because my glass cracked due to a stone, I went round and around with the lizard co. for 40 min. The rep was playing a game. If it were a YouTube, the meme would say, "Repair or safelite!"
Probably bonused if they didn't have to shell out for a Saint Gobain Sekurit OE BMW windshield. Oh they paid for it, no question. They covered it. But they gave me a hard time on the phone for 40 min. The other forum got a good laugh about it, I remember someone saying excellent. You should have told the rep to make you a sammich!
The denial business is very good indeed!
Lexus Fanatic
Joined: Oct 2003
Posts: 94,422
Likes: 249
From: Virginia/D.C. suburbs
No, but my accident record (and general driving record) is substantially better than average, and GEICO has forgiven the few claims I've actually made over the years. I've never had a rate increase solely based on claims, accidents, or tickets. A number of insurance-firms have now adopted that general Accident-Forgiveness program for no more than one significant claim in five years.
Windshields, in some cases, can be bond-repaired rather than replaced. If possible, it is usually better to leave the original factory seal on a windshield alone, and not remove it, than replace the whole windshield and have to risk paint/trim damage while doing it, and a lousy seal afterward that leaks.
When I wanted an original windshield because my glass cracked due to a stone, I went round and around with the lizard co. for 40 min. The rep was playing a game. If it were a YouTube, the meme would say, "Repair or safelite!"
Lexus Fanatic
Joined: Nov 2011
Posts: 35,436
Likes: 372
From: ON/NY
I'm not complaining, but imagine, you have a better FICO score, and you pay less. Yes, I benefit from a stupid policy like that, but I can understand how it really has little to do with driving. They would say you have a 840 Experian FICO, you're a better risk than someone who has a 640. I would maybe say you're more likely to get in an accident with a BMW loaner, rather than something else.
ps. I believe in Ontario, credit history is not allowed to be checked.
Lexus Test Driver
Joined: Apr 2012
Posts: 6,246
Likes: 472
From: Long Island
Yea, Ive noticed this unique phenomenon also. My car moves slightly to the left if someone is trying to pass on the left. Most of the time it is involuntary, which is pretty scary if you think about it. The only explanation I can think of is that we don't like being passed.
Lexus Fanatic
Joined: May 2012
Posts: 68,631
Likes: 4,045
From: Maryland
Originally Posted by mmarshall
Windshields, in some cases, can be bond-repaired rather than replaced. If possible, it is usually better to leave the original factory seal on a windshield alone, and not remove it, than replace the whole windshield and have to risk paint/trim damage while doing it, and a lousy seal afterward that leaks.
Lexus Fanatic
Joined: Oct 2003
Posts: 94,422
Likes: 249
From: Virginia/D.C. suburbs
Be careful there! So yes, they can be repaired. BUT, my last tango with a MD Inspection Station was over this. Last year one of the people that works for me was buying her BMW X5 out of the lease. It had to be MD State inspected as all "used cars" do, so she took it to an inspection station to have it done. Well, it failed...why? Because she had a small windshield star repaired by Safelite, and NO windshield crack or chip repairs are allowed during a MD state inspection. It was barely visible. I went over with her to try and argue with the guy but it was no use. She had to have a 2,400 BMW windshield put in just so it would pass inspection and she could buy her own car.
That's not on me, though. If MD authorities want to turn their noses up at good, proven Safelite repairs, that's on them. VA law, for example, allows scratches up to 6" long and stars/chips up to `1.5" in the wiped-area of the glass....but, conversely, VA safety-inspects cars every year, not just on sale/registration like MD.
Lexus Fanatic
Joined: May 2012
Posts: 68,631
Likes: 4,045
From: Maryland
That's not on me, though. If MD authorities want to turn their noses up at good, proven Safelite repairs, that's on them. VA law, for example, allows scratches up to 6" long and stars/chips up to `1.5" in the wiped-area of the glass....but, conversely, VA safety-inspects cars every year, not just on sale/registration like MD.
Thread Starter
Lead Lap
Joined: May 2012
Posts: 441
Likes: 2
From: mo
What's there to disagree with? Do you have a kid? Ever heard them speak about a subject?
I think credit score is a good measurement but its not as effective as asking a very specific questions and determining their knowledge based on how they answer. Case in point: my credit score is 630 and I'm the one giving consultations to insurance companies about safe driving.
I think credit score is a good measurement but its not as effective as asking a very specific questions and determining their knowledge based on how they answer. Case in point: my credit score is 630 and I'm the one giving consultations to insurance companies about safe driving.
Lexus Fanatic
Joined: May 2012
Posts: 68,631
Likes: 4,045
From: Maryland
The question is are the insurance companies listening lol. What does your credit score have to do with your “consulting position”? Your insurance risk has nothing to do with that. But a 630 credit score? And you’re trying to preach to us about anything?
These type of self reported “tests” are of no value in this type of situation IMHO. If you ask questions like “do you think it’s safer to drive the speed limit or 5-10 mph over” and it’s the insurance company asking, what do you think people are going to say? You’re just not going to get honest answers. They’re like the assessments you take when you’re trying to apply for a job. Meaningless.
Its like in the mortgage business they actually have a form at settlement where everybody signs that says “nobody committed mortgage fraud during the course of this transaction”. Because, if I committed mortgage fraud I would draw the line at signing that form lol
Credit scores are FAR more valuable when assessing risk than some self reported test because they are objective, not subjective. Insurance companies can look at a bunch of variables and assess your risk pretty easily.
BTW, I do not believe at all that you actually are paid by insurance companies as a consultant. Not for a second.
These type of self reported “tests” are of no value in this type of situation IMHO. If you ask questions like “do you think it’s safer to drive the speed limit or 5-10 mph over” and it’s the insurance company asking, what do you think people are going to say? You’re just not going to get honest answers. They’re like the assessments you take when you’re trying to apply for a job. Meaningless.
Its like in the mortgage business they actually have a form at settlement where everybody signs that says “nobody committed mortgage fraud during the course of this transaction”. Because, if I committed mortgage fraud I would draw the line at signing that form lol
Credit scores are FAR more valuable when assessing risk than some self reported test because they are objective, not subjective. Insurance companies can look at a bunch of variables and assess your risk pretty easily.
BTW, I do not believe at all that you actually are paid by insurance companies as a consultant. Not for a second.
Thread Starter
Lead Lap
Joined: May 2012
Posts: 441
Likes: 2
From: mo
huh?
These type of self reported “tests” are of no value in this type of situation IMHO. If you ask questions like “do you think it’s safer to drive the speed limit or 5-10 mph over” and it’s the insurance company asking, what do you think people are going to say? You’re just not going to get honest answers. They’re like the assessments you take when you’re trying to apply for a job. Meaningless.
Did I mention that Im a pretty bright young man?Last edited by theory816; Jul 5, 2018 at 06:46 PM.
Lexus Fanatic
Joined: May 2012
Posts: 68,631
Likes: 4,045
From: Maryland
What are you "huh"ing about? You suggested that credit scores aren't a good predictor of insurance risk because you have poor credit yet are also consulting with insurance companies. The two things have nothing to do with each other.
These questions are not the same as, "do you speed?" And these are big multi-million dollar companies. You honestly think we don't take into consideration whether someone is lying? lol this is the type of talent im working with?
I understand that you think that you're taking whether or not somebody is lying into consideration. I've worked with a lot of "big multi-million dollar companies", if you think that a company being a "multi-million dollar company" means they make good decisions and don't do stupid things you have a lot of life experience yet to absorb LOL. Big companies do a ton of stupid stuff, a ton.
No its not, which is exactly why I posted my credit score of 630. Yes, they have a lot of things that they can look at and Ive listed them, but none as effective as to see how you THINK
Sorry, that viewpoint makes absolutely no sense to me as a businessman who evaluates people based upon their credit scores. I don't care what people think, I care about what they DO. If you can't handle yourself financially and have poor credit, you can think whatever you want you're going not going to get anywhere with me. Plenty of other people out there with good credit, who needs the bad ones?
Did I mention that Im a pretty bright young man?