Quote:
Originally Posted by GH85Carrera
My insurance company has a slick way to deal with claims. If I have a claim, they are great, and pay like every customer would dream of. If I go for three years with no claim at all, they send me a rebate check. Every year without a claim, I get more money back. A check in the mail money not some unseen price discount, real money. Last year I got a check for just over $1,100. This year it will be more.
I have my house, and three cars insured by them. My 911 cost me about 60 cents per day in insurance with agreed value of 47K. The rates are great, and my neighbor switched to the same company and saved a lot of money on premiums.
My deductible is $500. But if I make a claim, I lose the rebate check for three years. So any claim I make will get paid, but it will cost me the check and the deductible. So if I had something that was going to cost a grand, why even make a claim?
It is a genus plan, and I like it. And yes, I have made claims, and they paid with no fight whatsoever.
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Wait...if you file a claim on a car, for example, you lose your rebate check for 3 years. Will they raise your premiums? Most insurance will...significantly even. That alone is incentive to only file catastrophic claims. It’s the reason I always select he highest available deductible.
On the health side, it seems they’re incentivizing you to forego treatment for things that could become far more costly (and dangerous) down the road. Wellness, preventive medicine is important. For example, would you leave your high blood pressure unaddressed to save the rebate?