Is It True that Insurance Will No Pay if You Leave the Keys in the Ignition and It Gets Stolen?

[BlockO]

Are you an insurance agent? If so, are you saying that the losses and claims of your clients affect you personally? Do the insurance companies keep track based on the agents who sold the policies? Doesn't seem very fair to me, as you have no control over how your clients conduct their daily lifes. Or are you supposed to weed out the clients first?

yes, an agent's loss ratio matters. everyone has a down year at times. it only takes about one big claim a year to blow up your loss ratio with certain carriers. companies understand that, and aren't too worried about it.

however, if an agent has a high loss ratio consistently year after year, companies don't like to see that at all. that can cause an agent to lose their appointment, or prevent them from getting new appointments.

in the eyes of the companies, loss ratio and retention rates are two of the biggest indicators of quality of business written.

 

[F150]

this brings up a good point, i wish insurance companies didnt have to pay for peoples stupidity....

Such as you leave the keys in a running car, stupid, claim denied.

I think if you are DUI, we should fix the car you hit, but not fix your car, but that screws the finance company....

amoung other, you arent gonna believe this scenerios....

 

[badkitty]

this brings up a good point, i wish insurance companies didnt have to pay for peoples stupidity....

Such as you leave the keys in a running car, stupid, claim denied.

I think if you are DUI, we should fix the car you hit, but not fix your car, but that screws the finance company....

amoung other, you arent gonna believe this scenerios....

I was originally from a foreign country.

Over there, auto insurance had two price levels mandated by the government.
One covers you if you have an accident with DUI. The other one did not cover
any incidents with DUI. I always purchased the latter because I didn't drink
alcohol at all. (still don't) The insurance premium was almost 50% cheaper,
for the liability portion. The savings for the comprehensive was about 30%.
The DUI standard is twice as tough as it is in the US. (0.03% vs 0.08%)

 

[VolAgent]

Drive a Chevy Cobalt, then you won't have to worry if you left the car running with the keys in ignition.

 

[badkitty]

Drive a Chevy Cobalt, then you won't have to worry if you left the car running with the keys in ignition.

No thanks! I have absolutely refused to buy American cars since 1985.
(coincidentally, it also happened to be a GM product)

 

[shawnmwalker]

Ya'll keep using works like Weed through, and High LR's.

I can't help but think you are still on "The joint" topic earlier on.

 

[badkitty]

Ya'll keep using works like Weed through, and High LR's.

I can't help but think you are still on "The joint" topic earlier on.

Of all the people, I'm probably one of the least likely to use drugs.

I am strongly anti recreational marijuana. I strongly believe the US Justice
Dept should take the States that passed these ridiculous laws all the way to the
US Supreme Court, if necessary. Unfortunately, they're doing nothing. <sigh>

 

[djgolfcan]

Insurance brokers are held to account by the insurers for their loss ratio. Write enough bad business and the insurer will dump the broker.
It keeps brokers from just writing insurance for everyone.

 

[badkitty]

Insurance brokers are held to account by the insurers for their loss ratio. Write enough bad business and the insurer will dump the broker.
It keeps brokers from just writing insurance for everyone.

I see... does this mean agents prefer their life insurance policy
customers to live as healthy as possible?

how does it work at insurances that only sell directly to consumer.
Surely they can't fire the green lizard?

I purchase my auto/home/health/life insurance policies directly on the
insurance companies' websites. Since there is no human agent that
I interact with during the process, who is held responsible for bad
losses in such cases?

 

[goillini52]

No thanks! I have absolutely refused to buy American cars since 1985.
(coincidentally, it also happened to be a GM product)

Was it made in Canada?........