• ComradeSalad@lemmygrad.ml
    link
    fedilink
    arrow-up
    2
    ·
    edit-2
    7 months ago

    What is the median? Average is a bad bad number because you’re going to have people totaling their $45,000 dollar trucks and cars that drag up the average. Or people hitting 3 other cars and having them cover all the vehicles.

    The vast majority of those “accidents” are fender benders or minor collisions with less then 1-3 thousand dollars in claims at most.

    If you are submitting a $19,000 claim every EIGHT YEARS. Your insurance rates are going to be astronomical. The vast majority is accidents are single car low damage accidents, so at most you are submitting a 1-3k claim every 10 or so years. A wonderful return on investment for insurance. Plus you don’t take into account that your rates will increase every time something happens. DUI, speeding ticket, lapse in coverage, collisions, will all raise your premium. $150 is only for clean records.

    Plus just because the average for claims is $19,000 doesn’t actually mean that insurance will give you what you need. They will fight tooth and nail to shortchange you.

    Also if you want to go by averages. The average car insurance payment is $145-195.

    Edit: What is your source for the 19k??? The highest I could find is the subcategory of bodily harm who’s claims average around 20k, but collisions only average around 3k, with a median of $1,995.

    What’s your source?

    • shortwavesurfer@monero.town
      link
      fedilink
      English
      arrow-up
      1
      ·
      7 months ago

      I didn’t look into any subcategories, so that 19,000 may very well be inclusive of everything. As for my source, it’s been a couple of months, but let me see if I can find where it was.

      I couldn’t find it, but I did find several things from Forbes and Bankrate that mentioned what you have about the bodily injury being the most expensive, but least frequent.