Discussion on different rates in different states within the General Insurance Agent Discussions, part of the Insurance Agents and Brokers Forum category.
this has probably been asked before -- but
I just did some research for a person -- i called and ...
I just did some research for a person -- i called and got the rates for Georgia -- for medsups -- and the difference between Wyoming and Georgia --- $100 difference per month --- why is that??? I don't understand -- my brother-in-law lives in Atlanta - yes he is doing good as a computer analysist for a great company, his wife is a pharmacist and they own a house at 300k -- but the question is why does it cost so much to live in different areas? maybe im being stupid in asking the question -- i had suggested -- they need to move... i guess its just like on hgtv -- open house - national house hunters -- where you have one house with 2 bedrooms at 400k and in texas it would be worth 40k -- i guess its all where you live -- maybe im answering my own question...
To each his own
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You won't know unless you ask!!!!
email me at mdonaldson@insurer.com
Mary D.
but the question is why does it cost so much to live in different areas?
It is because of the theory entailing supply and demand. When the supply is limited and demand is high prices go up (i.e., think about the most recent craze over playstation 3). When the demand is low and supply is high, prices go down (i.e. the real estate prices in some areas. Combine that with market psychology and you start to see how the world works.
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i guess its just like on hgtv -- open house - national house hunters -- where you have one house with 2 bedrooms at 400k and in texas it would be worth 40k -- i guess its all where you live -- maybe im answering my own question...
Exactly the idea. Here in the Baltimore area I can get a nice house (4000ish square feet for around $650,000 average, cut that in half up in Stamford, CT and you still pay the same price but for half the space). However, in areas like SC, NC and Texas, I can get a VERY nice house for about the same price depending on the location and have a lot more LAND. It all boils down to what attracts consumers to an area. Want to know why prices in New Mexico are low. Because not many people want to live in that state. People will always pay more when they are acting primarily on emotionals and it is the emotional audiences who the producers of the aforementioned shows and news stations target. Better to think about things logically and with a little bit of emotion versus the alternative.
------------------------------------ "Tell me and I will forget. Show me and I will remember. Involve me and I will understand." Confucius
I think that Wyoming has some of the nations most restrictive laws, for insurance companies to operate in their state. To the best of my knowledge, the only true HMO in the state is Blue.
Government restrictions, especially underwriting restriction, will dictate to a large degree, the range of premiums for a state.
I dare say more people want to live in Georgia than in Wyoming.
No disrespect to people in Wyoming, just the facts. Supply and demand, the basic economic law of the land.
Not only that:
Wyoming population 509,294 spread out over 97,000 square miles. That's about 5 people per square mile.
Georgia population 9,072,576 spread out over 57,906 square miles. That's about 141 people per square mile.
Much more industry in Georgia as well. And yes, all about supply and demand.
The biggest factor on Medicare Supplement rates is based on claims experience in each area. Within Georgia, the carrier I use for Med Supps has 2 sets of rates. While both are cheap, one is less expensive than the other and those cheaper rates are in the rural areas.
I love Wyoming, I also love the logo (I'm thinking its Wyoming or maybe Dakota?) "Please come visit but please don't Stay here!", I love that! Makes me want to mover there, my kind of people!
Well i'll tell ya if it wasn't for the wind blowing 70 miles an hour every time i turn around it would be great
Every day is sunday
And for senior business its a gold mine
We have been here for almost 4 years == its time to retire from the military and move back to civilization... just not sure if we want to yet..
I kinda like having no traffic and no murders == and im not worried about my 16 year old out driving on the road
I am prior military and my husband actually lived at vandenburg for awhile when he was young -- military brat
How long were you in? and what made you decide insurance?
I was in the USAF from 1999-2007. 4 years of active, 4 years inactive. I still have a few months left before they can call me back in As for insurance, long long story. I was pursuing my B.S. in Psychology while I was in the USAF and had planned to work towards obtaining my Psy.D. in Clinical Psychology to become a therapist when I got out. Upon working my tail off to get into graduate school the desire ended when I was interviewed w/ the Dean of Psychology. Let's just say that her and me did not see eye to eye and I was not about to spend $100,000 and 5-6 years of my life at a college that I was not comfortable attending.
I then toyed with the idea of getting my M.S. in Psychology and then I had an ephifany. I should test out a sales position because I had wanted to do that for quite some time and put graduate school on hold until later. A few sales jobs (mattresses, home improvement products, etc.) later landed me at NASE and from there I went independent with the guidance and support of family and friends (thank you John, Kris, Kyle and Dave).
I am quite content and look forward to a long and rewarding career helping small business owners relieve stress and protect their assets by having a sound health insurance plan. We shall see in 10 or so years if I still want to be a therapist.
thats great to hear -- good job! --- my husband is looking at all of his options right now -- we will know after the surgery ( again ) here in March -- he will be past his 20 year mark in July of 07 -- so we will look to retire -- but depends on his surgery for his medboard as to how he will retire -- whether its medically or the normal way
He was a recruiter for 9 years so I am hoping that he will become a health recruiter -- we have checked out many companies and it looks really promising -- he wants the base pay with the commission - we were discussing his getting his insurance license and doing what i am doing - but im not sure if i could handle that -- i like the fact that i can do what i need to do during the day -- thats my own time -- whenever he is off work - i seem to never get anything done workwise -- again one of the reasons i am so glad to have this job -- i can work one to two days a week and be done with 10 to 12 appointments -- since his first surgery i have been so thankful that i have this opportunity -- anywhere else i would of been fired
different rates in different states
As for insurance, long long story. I was pursuing my B.S. in Psychology while I was in the USAF and had planned to work towards obtaining my Psy.D. in Clinical Psychology to become a therapist when I got out. Upon working my tail off to get into graduate school the desire ended when I was interviewed w/ the Dean of Psychology. Let's just say that her and me did not see eye to eye and I was not about to spend $100,000 and 5-6 years of my life at a college that I was not comfortable attending. 
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