Insurance Companies

Approximately how much annual premium for this quote with these stats:
– 24 year old male
– excellent health.
– Height: 5′7” Weight: 160 lbs

Quotes only from insurance companies with good ratings (no sub-par companies).

Should be no more than $250/mo, limited medical questions and probably a paramedical exam.

I ran 3 quotes, $241, $244, $267 were the answers; that’s with waiver of premium (protects policy if you become disabled and can’t pay before age 60)

These are all A+ rated companies what state?

Hey, Im in highschool at the moment and im not reaching my "car dilemma" Im a male at the age of 16 (not looked well upon by insurance companies I hear) and I am insured by Statefarm. I was wondering if someone could help me out by telling me how i could lower my monthly insurance rate. The car im getting has side airbags and good crash test ratings, and im going to be adding mods to it (either rsx type-s or volkswagon golf gti) and i would most likely be installing rollover bars. Would this help my insurance rate go down? What other steps could I take? Thank you!

dont mention that youre going to mod it, and i dont think the rollbar is going to help any. go for a 4 door if possible, get good grades in school and ask for a good-student discount (they really do exist) and take a dirver’s safety course. that should help, but basically you wont have low rates for another 9 years. i know, it sucks, but theres not much to be done about it. but be careful with doing the drivers safety course. if you take the class then get a ticket later on, you cant take the course to get the ticket removed if youve taken the class in the last year (if thats the local law there. i think thats kinda standard, but i could easily be wrong).
and dont speed. trust me. ive had plenty of tickets and i still cant break the habit that started in high school. believe it or not, it doesnt make you look cooler to your friends, and if you do modify your car, dont go around flooring it all of the time. then everyone knows exactly what youve got. drive around like a granny car, and not only will the cops leave you alone, but youll have rumors going around that your car is must faster than it actually is.

i know this is done on accident ratings in groups of people. however every person is different and therefore every driver should pay the same the day they pass there test and then it should adjust from there. if you try to sell a chocolate bar for different prices to a man, women, boy or grandma you’d get jumped on for ageisum

Good God! Do you expect us to make sense of what you typed? There have been 5-10 questions here about insurance rating. Insurance companies insure too many people to a rate for each kind of person in the world. And since everyone is paying into one "pool" when paying the premium, and that pool is used to pay for claims, the best data and statistics that they can use to determine rates is age, experience, sex, marital status, credit, vehicle type, etc.

The chocolate bar is going right into your stomach. You don’t drive the chocolate bar down the road and hit another chocolate bar in the rear because you’re 16, a male, and don’t know how to keep a safe following distance. There’s no chance that the convenience store, as a result of you consuming the chocolate bar will have to pay more. The chocolate bar can’t hurt someone.

So your comparison doesn’t really work. If you’re selling a product to someone and as a result may have a higher risk of having to pay someone else a lot of money due to the buyer’s negligence you should be able to collect more money from that person if you know he has a higher chance of having an accident and causing damage.

Essentially, when you pass your driving test, assuming you’re 16, you basically are paying as much as the others that have just passed because you’re all young and inexperienced. It’s just that statistically boys have more accidents. It’s not discrimination. The state insurance departments approve the rating systems that insurance companies use.

Enough already with the discrimination complaints!

Basically, your insurance rates, APR’s on loans, and host of other financial and health risks are calculated by people who work for the company insuring you (or issuing a loan). From these statistics (ranging from gender to race to income to job security to credit ratings), the actuaries are able to derive a formula to determine how much your loan will be for, how much risk the company takes in insuring you, or whatever it is you are seeking…

Why is it ethical for insurance companies and the sort to do this, but it is not ethical for Police Officers to do the same (in other words – play the numbers) in order to better do their job?

This really isn’t a valid comparison when you consider the purpose or object of the "profiling". The insurance actuary uses statistical data to estimate the degree of risk a potential customer will present and to then develop the company’s price for the insurance. The customer can take it or leave it – they are not obligated to take the insurance and will usually have other policies from other companies to consider. In fact, no one "has" to buy insurance simply because they live here. There is nothing inherently unethical in the manner a company comes up with the price it offers in a competitive market.

The job of the police is to enforce the laws. The are a part of government, paid by the taxpayers, to handle that particular part of the government’s function. We don’t have private, competing police departments offering their services to the general public. They are not offering a service the consumer can take or decline. When your job is to protect the rights of the people then unwarranted profiling could, most certainly, be considered unethical. The key element is if the profiling is warranted – especially in cases where the police are looking to prevent crimes, rather than to apprehend someone who has committed a crime.

Health insurance profit margins typically run about 6 percent, give or take a point or two. That’s anemic compared with other forms of insurance and a broad array of industries, even some beleaguered ones.

Profits barely exceeded 2 percent of revenues in the latest annual measure. This partly explains why the credit ratings of some of the largest insurers were downgraded to negative from stable heading into this year, as investors were warned of a stagnant if not shrinking market for private plans.

Health insurers posted a 2.2 percent profit margin last year, placing them 35th of 53 industries on the Fortune 500 list. As is typical, other health sectors did much better — drugs and medical products and services were both in the top 10.

They only take a couple percent for profit so what’s the big deal when the drug and energy companies are the ones raping people?

http://news.yahoo.com/s/ap/20091026/ap_on_bi_ge/us_fact_check_health_insurance

I should specify "health" insurance.

Insurance companies are moral and ethical. They sell a product that under ideal conditions should never be used. The purpose of insurance is to distribute a loss over a pool of like mined individuals. Think of you policy as a bet — I am betting $100/month that I will not be hospitalized for an unforeseen accident.

To keep your bet at $100/month you exercise, eat in moderation, and avoid stupid behavior. Sadly, governments have made this difficult since they have told silly people that they can be overweight, be a drug user, and reckless and the insurance companies will still pay for their care — so that you as a wise individual pays for your low risk and the high risk of two or more fools.

Drug companies also make and sell ethical products — the cost of developing drugs that can meet all the silly demands of governmental rules is extremely high. Rules on advertises, liability(even for misuse), employment of statisticians and lawyer all due to excessive government.

Energy companies are also ethical and inexpensive — Most would have been using nuclear but for governmental restriction on their expansion all based on FUD.

Your American way of life was built on the dynamics of the open free market that was extant during the 1940-1960’s. When government started to destroy this Goose that Laid Golden Eggs — freedom declined and government grew — LBJ had his war in Vietnam and on Poverty Both lost by the government.

Both of these companies get terrible press, and terrible ratings and reviews. However, insurance is probaly the most difficult sales job out there. If I am the agency director and I hire 10 people one person might make it, and I mean might. You must have self-determination, willing to talk to anyone, and a killer instict.

So, tell me which company is worse. just for fun

United American, just because they have the stones to do their over-priced business with Senior Citizens.

I find, especially in Property&Casualty, that a killer instinct is counter productive. If you make every sale, you’ll have too many bad risks. Most successful P&C agents I know are more selective in the business they write and are not "CLOSERS".

FACT CHECK: Health insurer profits not so fat

\In the health care debate, Democrats and their allies have gone after insurance companies as rapacious profiteers making "immoral" and "obscene" returns while "the bodies pile up."

Ledgers tell a different reality. Health insurance profit margins typically run about 6 percent, give or take a point or two. That’s anemic compared with other forms of insurance and a broad array of industries, even some beleaguered ones.

Profits barely exceeded 2 percent of revenues in the latest annual measure. This partly explains why the credit ratings of some of the largest insurers were downgraded to negative from stable heading into this year, as investors were warned of a stagnant if not shrinking market for private plans.

Insurers are an expedient target for leaders who want a government-run plan in the marketplace. Such a public option would force private insurers to trim profits and restrain premiums to compete, the argument goes. This would "keep insurance companies honest," says President Barack Obama

http://news.yahoo.com/s/ap/20091025/ap_on_go_co/us_fact_check_health_insurance

Simple they think the American voter is stupid. I did some checking about health insurance companies profit margins and the chart I found showed a 3.3 per cent profit margin.

I am a young driver -17- and I have been driving for a little over a year now. I have a silver 2004 Huyndai sonata that has great saftey ratings, and I have an absolutley perfect driving record. I am with Travellers insurance now, which has great coverage, but $250/month is kind of alot for me to fork over each month. (I had a nice summer job that earned me some cash, but I am a student afterall.) What should I be paying? Are there any companies that I can switch to that with save me some cash? Which ones? Please help me if you can!
I have full coverage.

Look for an independent car insurance agent in your area who represents several companies. The agent can help you compare different insurers and also tailor your coverage to exactly what you need and no more.

You could also try the free online services that get you competitive quotes from several insurers. They’re like the automated equivalent of an agent. Here’s a page that lists some of them…

If you want to put someone down as your beneficiary do they have to be a certain age?If you are buying a house and you go get life insurance will your agent ask you who do you want to leave your house to?Which is best permanent or term life insurance?Can you make changes to the policy at any time?What is the top 3 life insurance companies ? Best ratings..

Thanks

lifeinsurance.awardspace.info – try this one. I have their insurance and, as remember, they can provide such a service.

Considering the current meltdown of AIG and other financial institutions, where can I find the best sources to research which life insurance companies are healthy? Since the rating agencies recently showed how wrong they can be, their ratings will be taken with a grain of salt.

Though they are not perfect A.M. Best is still a good place to gather the facts. http://www.ambest.com/