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Insurance business is nothing more than very sophisticated gambling. Whether they stay in business and make money is totally dependent on how accurately they can forecast their claims. They look at everything, single,married divorced, age, zip code, own, rent, driving record, any criminal record, ad infinitum. Rawknee did you tell them you were a tranny when they gave you a quote? One subtle benefit of the over-valuation is the psychological effect on the insured thinking he has a 125k car vs a 75k car. Maybe he will take a little less risk since he thinks it's worth 125k, like taking more care in picking a parking spot, less risky driving behavior, etc.
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