jimp
Expert Class
Posts: 291
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posted March 02, 2002 04:31 AM
 Edited By: jimp on 2 Mar 2002 04:35
State Farm Policy Holders, Please Bend Over !!!
Here comes the surcharge on the 12's
Losses Hit State Farm
Published: Mar 2, 2002
Hit by mounting claims and drastically reduced capital gains, State Farm Insurance Co. reported on Friday a net loss in 2001 of $5 billion.
The insurer said the loss was the largest in its 80-year history and follows a year in which it earned $400 million. State Farm's revenues from premiums rose from $37.6 billion in 2000 to $40 billion last year. But those premiums could not keep pace with the amount of money being paid in claims, as reflected in an underwriting loss of $5.3 billion.
  
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Wildman
Expert Class
I only look confused
Posts: 318
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posted March 02, 2002 11:12 PM
Is this just supposition? Or have you actually heard something about a surcharge on 12's?
Fuck! I already pay those dicks $190/month all told.
BTW, "Underwriting Loss" doesn't neccessarily mean they lost money. It means they paid more claims than they took in from premiums. They don't just stash that money in a savings account, they invest it. Of course, with the market in the last year who knows.....
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If you build something Idiot Proof, The world will build a better Idiot.
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ROCKET J
Zone Head
Goes to water over a dummy!!!
Posts: 602
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posted March 03, 2002 01:24 AM
And like a good neighbor, State Farm is there..
Right behind you ramming it up your ass!
Rocket
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If I get any smarter, my head will explode!
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jimp
Expert Class
Posts: 291
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posted March 03, 2002 06:06 AM
Edited By: jimp on 3 Mar 2002 06:07
Wildman the reason for my statement of surcharge is, last week I recived my Allstate bill with a surcharge. Allstate is making money and they added a 471.00 six month surcharge on top of my 209.00 six month premium. My thoughts are that If Allstate is making tons of money and Statefarm lost 5 Billion, and my agent said " Its just a matter of time before the other companies follow this policy". Also I'am 50 years old, no claims , no ticket's. Now the question is why did they add this surcharge ?
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pat830
Expert Class
Posts: 135
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posted March 04, 2002 07:24 AM
This is a sad trend.
WTF is a surcharge? Why can't they be honest and just include it in the price of their product? I can see adding a surcharge to my customers invoices. They would tell me to shove it so far it would fall out of my mouth.
If this keeps up, who'll be able to afford to ride a sportbike? I think the insurance companies are just sticking it to us because they can and are re-couping losses that they are experiencing elsewhere in their business.
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harryzx-12
Needs a job
Posts: 3643
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posted March 04, 2002 03:03 PM
All insurance companies
Are legal organized crime in my opinion.I can't stand them fucks. I wrecked my 12 in july And it was the first time since I was 19 years old that I made a claim (Bike)I have never had a car/truck accident that was my fault.How many thousands of $$$ have those bastards made off me?
My insurance for my 12 is going up slightly , my agent told me.I am most afraid of some piece of shit stealing it.If I could just catch them , there would be less bike thieves sucking up good air.
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"Life should NOT be a journey to the grave with the intention of arriving safely in an attractive and well preserved body, but rather to skid in sideways- Body thoroughly used up, totally worn out...Screaming "WOO HOO, What a Ride !!!"
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