An Inconvenient Truth

[JoeRedskin]

Originally Posted by Hog1

The remaining companies are making a good run at it. State farm jacked my homeowners by 300%. I'm told that is a good deal in this market. A good deal has a different meaning in my mind. As Matty pointed out, some of this may be driven by fraudulent claims. I understand that............but I am innocent. Why am I paying for it? My original point is this, the health ins system is a BAD system. It works for those collecting the loot. Who's at fault? I don't know

<sigh> We get this one all the time. "Why are my rates going up, I've never made a claim."

Insurance 101 - You are part of a pool of insureds - that is the ONLY way anyone can afford to be insured, by pooling risk. Maybe you haven't made any claims, but people in your risk pool did and, in order to afford covering everyone in the risk pool, premiums have to increase to reflect the increased risk presented by the pool of insured.