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Topic	Why car insurance getting so expensive now?
WingsOfGood 04/27/24 2:14:18 PM #36:	CobraGT posted... When you put this way, we need to see Insurance company revenue from premiums and from investments Insurance company payouts to insureds and to their lawsuits Insurance company payouts for law suits brought against the company Insurance company donations to Trump and other politicians. Doesn't matter. It goes up because they say it goes up. What can you do about it? Nothing. So then they can make it go up. The only way it can sorta go down is if another company joins in and is like "oh I can make my rates so much lower!!!" but if no company does that then it doesn't matter The free market theory is that a company will always want to do that and provide the cheapest rate to get all the customers.... that only works in theory it turns out that all the companies basically having nearly the same rate and monopoly is actually what makes the most money and if a new small company tries to provide a lower rate you just buy them out or harass them out of the market <cite>WingsOfGood posted [p:980123508] in Why car in... [t:80756722]...</cite> <quote>CobraGT posted... </cite><quote>When you put this way, we need to seeInsurance company revenue from premiums and from investmentsInsurance company payouts to insureds and to their lawsuitsInsurance company payouts for law suits brought against the companyInsurance company donations to Trump and other politicians.</quote>Doesn't matter.It goes up because they say it goes up.What can you do about it? Nothing. So then they can make it go up.The only way it can sorta go down is if another company joins in and is like "oh I can make my rates so much lower!!!"but if no company does that then it doesn't matterThe free market theory is that a company will always want to do that and provide the cheapest rate to get all the customers....that only works in theoryit turns out that all the companies basically having nearly the same rate and monopoly is actually what makes the most moneyand if a new small company tries to provide a lower rate you just buy them out or harass them out of the market</quote> ... Copied to Clipboard!
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