08-22-2019, 08:37 PM | #71 | |
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https://mitchellandabbott.com/no-fault-insurance.php
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08-22-2019, 09:38 PM | #73 | |
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08-22-2019, 09:53 PM | #74 | |
Damn that's crazy...
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This thread makes me feel better about my financial mistakes lol I’ve made a few and learned a lot from them. I’m not stupid enough to put myself in a super bad situation. Just gotta take the hit and keep it moving. Live and learn right? OP I’d definitely be looking at selling the car if I were you. Pay off all your debts, put money in your account for ACTUAL necessities like food, gas, bills etc. A $500 civic can get you around town, anything more expensive is just an unnecessary luxury. I know you might not want to lose your car, but I know you also won’t want to deal with this BS. Good luck |
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08-23-2019, 04:11 AM | #75 | |
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simples. |
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08-23-2019, 04:27 AM | #76 | |
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Amount of cover is the issue here OP said he had a certain amount of cover, had used it and may be out of pocket. What happens if he hits a Lambo and does 50k dollars damage, the car hits a telegraph pole and the fix is 20k dollars, he hits a pedestrian who become a quadriplegic which costs $5 million dollars and medical bills. Do you have some other cover for these things that I'm not understanding?
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08-23-2019, 06:09 AM | #77 |
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Not really. He made a big deal about how the not at fault driver would be penalized with rate increases. There has to be a very obvious contribution to the accident for both drivers to be found at partial fault here so it is rare that that both would se any sort of increase. Just the at fault one.
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08-23-2019, 06:43 AM | #78 | |
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It's a rate increase across the board for all users. |
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08-23-2019, 09:30 AM | #79 | |
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His big concern was that in the event of an accident both parties rate went up. That just isn't accurate here except in very special circumstances where the blame is shared.
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08-23-2019, 09:35 AM | #80 | |
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08-23-2019, 10:19 AM | #82 | |
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OK not a "Big" deal but a deal. This is the point that people seem to be missing with our "no fault" system. The at "fault" driver's rates DO go up when they have an accident. They don't make up their shortfalls by increasing everybody's rates (although rates do of course increase but so do at fault systems) the higher risk drivers pay the increases. The incentive to not have accidents is exactly the same as an at fault system here.
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08-23-2019, 10:42 AM | #83 | |
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What the claimant's insurer can do instead under state law is aggregate all their claims expenses in their annual data call submitted to the state, then use that as support to petition the department of insurance for rate increases across the board. The state rarely denies a rate increase, again because of economics. DFS is afraid that denying rate increases will cause insurers to leave Florida, restrict the kinds of policies they offer or deny coverage altogether for riskier drivers, which in turn has the effect of driving average rates up anyway. If your rates went down when no fault went into effect, it wasn't because of no fault insurance. It was because there was something else holding your rates artificially high that was corrected at the same time. If they had fixed whatever that problem was while keeping the at fault system, your rates would be even lower today. |
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08-23-2019, 10:56 AM | #84 | |
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LOL I know I know! I have been trying to make the point that our "No fault" systems is different and actually works because it still assigns fault and is no fault in name only. They are two radically different systems and saying what they do in Florida (or other states) is meaningless. The no fault system we use does not push rates up no matter how much you want to believe it.
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