Interesting observation on modern car wrecks in Florida….

[Buffalowed Bill]

All of this makes me wonder why anyone would want to buy a new car. But then who am I to talk, since I have never bought a new car and never intend to buy one either. I like driving an older car because it suites me to drive a car seldom seen on the road today. In addition I really hate the idea of overpaying for my transportation cars, when it's not necessary. All of the above just serves as a positive reinforcement for what I've been doing for the last 60+ years of driving. Thanks Ed! 

[39BuickEight]

There are situations currently in some states that require inspections where open recalls must be completed before the car can be passed.  The parts needed to complete the recall are not available.  You can see the problem.

 

My profession is personal and commercial insurance underwriting analysis.  Things are a mess right now to say the least.

[John348]

32 minutes ago, 39BuickEight said:

There are situations currently in some states that require inspections where open recalls must be completed before the car can be passed.  The parts needed to complete the recall are not available.  You can see the problem.

 

My profession is personal and commercial insurance underwriting analysis.  Things are a mess right now to say the least.

 

I am aware of the problem, but is a simple letter from the dealer service department stating that the part was not available at that point.   I also went thorough that with an engine block heater recall on my present HD Sierra, and ignition switch recall om my last HD Sierra on the transfer to the new owner. The state NY needed that for the title for some reason

 

[39BuickEight]

52 minutes ago, John348 said:

 

I am aware of the problem, but is a simple letter from the dealer service department stating that the part was not available at that point.   I also went thorough that with an engine block heater recall on my present HD Sierra, and ignition switch recall om my last HD Sierra on the transfer to the new owner. The state NY needed that for the title for some reason

 

Good to hear there is a reasonable quick way to appease the government in NY.  
 

Nothing like making citizens and private companies work harder to drive their own nice vehicles on public roads that citizens already pay for.  Sorry for the quick rant. 

[f.f.jones]

10 hours ago, John348 said:

There are many possibilities as to why or if the owner of the Rivian had to pay out of pocket for the repair, but one thing for certain is that we don't everything, and there is more to the story then is being told in that article. I never felt comfortable after reading an article and have questions unanswered.  What was the author trying to accomplish? I was not informed of anything, other then someone had the misfortunes of a bad day combined with a bad insurance agent.

Evidently the Rivian owner settled with the insurance company for $1600, per this quote from the article, before knowing the eventual cost of repairs.

 

"He exchanged insurance information with the driver that hit his truck and then got a check for $1,600 from the other driver's insurance company for the repairs to his pickup. But as he later found out, it was nowhere near enough."

[TAKerry]

My wife was sitting in a parking lot and another car backed into her. Broke the headlight and bent the plastic bumper a bit on our Honda Civic sedan. The offenders insurance settled right away with the estimate from the body shop. Only after they started working on the car did they discover more damage, the windshield was cracked near the bottom and there was something else I cant remember now. The insurance comp. re-adjusted the claim amount and paid for all of the damages. 

 

I find it hard to believe that a 'paid $1600. claim' resulting in over $40k worth of work would not have 1. been noticed from the start and 2. not settled or at least re-evaluated. Just another pop shot at electric cars imo. I think it was an msn article also stating how the driver was forced off a dangerously narrow road by the spikes on the wheel lugs of a big rig.

[John348]

12 hours ago, 39BuickEight said:

Good to hear there is a reasonable quick way to appease the government in NY.  
 

Nothing like making citizens and private companies work harder to drive their own nice vehicles on public roads that citizens already pay for.  Sorry for the quick rant. 

No, that's not the situation, they are just making sure that a "lazy owner" is not selling a vehicle to an unknowing owner with and open safety recall that was not addressed. Is it working harder to have your vehicle repaired for free or to supply a letter as to why a recall is still open? Or is fine to pass of a vehicle that might have a possible dangerous situation unaddressed on the road crating a hazard to other drivers who are also pay for the roads, and also expect insurance companies to offset any incident that may occur.  

 

5 hours ago, f.f.jones said:

Evidently the Rivian owner settled with the insurance company for $1600, per this quote from the article, before knowing the eventual cost of repairs.

 

"He exchanged insurance information with the driver that hit his truck and then got a check for $1,600 from the other driver's insurance company for the repairs to his pickup. But as he later found out, it was nowhere near enough."

 

So what it the point your making. When additional damage is found a supplemental claim form should be filed, and the adjusters revaluate the claim. This happens all of the time. I feel that MSN article really left a lot of information out of the story, and if that is the real story it was the owner of the Rivian's fault no more no less. I think we can all agree on that. It's one thing if it is a knock around town $2000 special, but speaking as one who buys a new vehicle every 4-6 years I would never take anything from an insurance company until I would have it a shop I trust and have their adjuster look at the vehicle at that shop 

[39BuickEight]

23 minutes ago, John348 said:

No, that's not the situation, they are just making sure that a "lazy owner" is not selling a vehicle to an unknowing owner with and open safety recall that was not addressed. Is it working harder to have your vehicle repaired for free or to supply a letter as to why a recall is still open? Or is fine to pass of a vehicle that might have a possible dangerous situation unaddressed on the road crating a hazard to other drivers who are also pay for the roads, and also expect insurance companies to offset any incident that may occur.  

Generally, states without inspections and with less red tape involved in the commerce of cars have much lower insurance rates.

 

 

[Frank DuVal]

23 hours ago, brasscarguy said:

Most consumers have no idea about this new wrinkle.

Not a new wrinkle. Been around for years, just now the dollar amount is more.

[John348]

6 hours ago, 39BuickEight said:

Generally, states without inspections and with less red tape involved in the commerce of cars have much lower insurance rates.

 

 

Billy, my personal experience differs from your generalization. My insurance was more expensive in Florida for the same vehicle in New York, and I was told the reason is because of the higher percentage of uninsured motorist on the road I also see a greater number of marginal vehicles on the road that really should not be, both dangerous for the public, other motorist, let alone the drivers and passengers. I was never a fan of inspections and viewed them as a pain in the butt, but  I never neglected my vehicles and I was taught that a failure could mean life or death. A vast of these vehicles would not pass a basic safety check in most state inspections. I really don't get the "red tape" part of your comment, having homes and cars in both NY and FL, I don't notice much of a difference. I did notice homeowners insurance is rather predatory in FL, and seems to be unregulated.     

[39BuickEight]

Florida is high largely because of the statutes governing bodily injury claims.  It is a truly unique state in terms of insurance-auto and property.  Most carriers would rather not do business in Florida at all.

Edited May 6, 2023 by 39BuickEight (see edit history)

[John348]

6 minutes ago, 39BuickEight said:

Florida is high largely because of the statutes governing bodily injury claims.  It is a truly unique state in terms of insurance-auto and property.  Most carriers would rather not do business in Florida at all.

I'm witnessing that first hand!

[edinmass]

2 hours ago, 39BuickEight said:

Florida is high largely because of the statutes governing bodily injury claims.  It is a truly unique state in terms of insurance-auto and property.  Most carriers would rather not do business in Florida at all.

 

Hi……can you expand on this please. I’m interested to hear what you have to say in the subject…….thanks, Ed.

[39BuickEight]

48 minutes ago, edinmass said:

 

Hi……can you expand on this please. I’m interested to hear what you have to say in the subject…….thanks, Ed.

Hi there Ed, it’s hard to summarize in a meaningful way, but…

 

Statutes in Florida allow, and in many ways encourage, exorbitant injury claim settlements.  That makes it impossible to be an auto insurer there.  Auto is by far the biggest problem, not property. Hurricanes are increasingly expensive, making property insurance increasingly difficult there.  Insurance companies always buy reinsurance of their own to cover large losses.  Many large carriers in Florida now send over $.90 of every dollar a customer pays in premium right back out the door to pay their own reinsurance premiums.  They are operating (poorly obviously) on the remaining $.10.  That is not sustainable and every year more and more carriers simply leave the state.  Something has to give soon.  Either the government will have to subsidize it or it will simply become too expensive to live in or visit Florida.

 

The big national carriers are still there because they don’t want to not be.  They want to be in every state because it’s what they do.  The others are slowly leaving.

[edinmass]

Thanks for the explanation. I see what it’s doing to most middle income people here. It’s a great place to live, but cost of living is skyrocketing at twice the national average. I was wondering why car insurance was so expensive……..on my real estate I self insure except for liability. As I have no debt. It’s shocking what it costs to insure a junker here. 

[Buffalowed Bill]

The recent responses to this thread create more unanswered questions then they answer. I googled for a comparison of the rates by state and got only that there are 6 factors that determine what someone pays in a particular state, only one of which is where someone lives. It also stated that the average full coverage is $1592/yr. It didn't give me the range of rates. Is there a source that compares the rates by state or by local?

[DrData]

Bankrate.com offers a table comparing average rates for auto insurance by state

 

https://www.bankrate.com/insurance/car/states/

 

As a former claims adjuster, I can tell you that the cost for auto insurance has been adversely impacted by the rise in uninsured and underinsured motorists and aggressive plaintiff attorneys.

[John348]

Ironically, as a follow-up, my State Farm Agent in Florida wanted to meet with me a revue my policy today. I was told even though my record is perfect I should expect a 20% increase because of the abundance of uninsured, and underinsured motorist's in the state. I am not sure my collector policy will be affected as well when that renews. 

Edited May 12, 2023 by John348 (see edit history)