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Originally Posted by Rainger99
This is for auto insurance - not home insurance. I can't see prices coming down ever!! The insurance companies lost $54 billion on auto insurance in the past three years! Perhaps it is those roundabouts!! It appears that the underwriting departments are not doing a great job!
In 2021, insurers’ personal auto businesses started recording losses. According to David Blades, an analyst for AM Best, the industry lost $4 billion in 2021, $33 billion in 2022 and roughly $17 billion last year.
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distracted driving resulted in the majority of the increase.
since they had to increase rates through the state insurance regulator, it took time to get the rates lifted to now account for the general populations' obsession with phone fomo and driving directions, especially in a new place.
when driving your car with WAZE/GOOGLE MAPS in a new place by yourself, how many times and how long are you looking at your phone for directions?
Ever come across a really slow driver? check out his/her reading their cell phone because they just can't give it up. .
stupid hoomans