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So what's the downside to a tort insurance system?

Discussion in 'Sound Off (MichiganForums.com)' started by DirtySteve, Feb 12, 2018 at 7:33 PM.

  1. Quack Addict

    Quack Addict

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    Yeah doing away with the MCCA fund would "basically" be a loss of coverage, on paper anyway. But that argument holds about as much merit as investing in Illinois lottery tickets as a retirement strategy.

    There are no details available to the public regarding the MCCA fund. Maybe there aren't any valid recipients. Maybe the fund carries $0 balance, and the continued income of $150/vehicle/year is filling the gas tanks on a private yacht in the Mediterranean somewhere. There's an awful lot of maybes and unknowns with the MCCA fund and EVERY time smoke & mirrors are involved with financials like that, crooked stuff is happening.



    Sent from my XT1585 using Michigan Sportsman mobile app
     
  2. jatc

    jatc

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    How many years of premiums will it take you to pay for a total on a $45,000 truck?

    I don't know of any medical insurances that cover auto accidents anymore. The major insurers in the state like BCBS definitely won't cover it.
     

  3. FISHMANMARK

    FISHMANMARK

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    That isn't correct. Health insurance is primary in an auto accident under the no fault law.
     
  4. jatc

    jatc

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    You pay for PIP on your auto insurance as required by the No-Fault Law. The vast majority of the Health Insurers exempt primary coverage in the event of an auto accident, and since PIP is unlimited coverage, that means they don't cover any auto accident claims.

    This is why the auto insurer asks if you have health insurance and who it is. If it is BCBS, for instance, your auto insurance just went up because PIP will be primary on any claim.
     
  5. pescadero

    pescadero

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    Unless you believe no one, ever draws from the MCCA - then it's obviously a loss of coverage on more than just paper.


    We know there are valid recipients.

    That I agree with.

    We know they pay out claims - but we have no idea if their intake greatly exceeds claims and they're siphoning off money... which is why it should be public and their books should be transparent, public information.
     
  6. david boyko

    david boyko

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    I wouldn't buy a 45000 dollar truck because insurance would be more than my payment i have already paid my insurance as much as I paid for the truck I have now and why don't premiums go down with depreciation of said vehicle
     
  7. david boyko

    david boyko

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    also how come when you try to find a cheaper rate the places you call find out you already have coverage and want to charge you MORE
     
  8. david boyko

    david boyko

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    and isn't insurance based on the premise that something will happen therefore being an insurance policy IE protected from out of pocket expense yah right
     
  9. pescadero

    pescadero

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    I don't know what y'all are doing... but I have full coverage on 2 vehicles ($500 deductible on collision, $200 on comprehensive) and pay a total of about $1,400/year INCLUDING the MCCA fee.
     
  10. jatc

    jatc

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    A few years ago I had full coverage on 3 vehicles $500/$500, and it cost $135 per month. Then one of the kids hit 15 and it went up about 30%. Then the same kid smashed my truck at age 17, and now I pay about $375 per month for three vehicles.

    I don't feel too bad though. I work with a lot of mid-20's guys and most of them are paying as much for their insurance premium as they do for their $400 truck payment. Sub 25 and speeding tickets will raise the rate quickly.
     
  11. david boyko

    david boyko

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    well I live in detoilet if that tells you anything
     
  12. jatc

    jatc

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    Yup. You probably pay double for premium what someone with the exact same driving record would pay on the same vehicle in Saginaw County. I know guys that rent down there but keep their primary residence address at a friend's house in a different county just because of the auto rates.
     
  13. david boyko

    david boyko

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    yeah and the driver who hit me tried to make a claim on my insurance for damage to their car
     
  14. DirtySteve

    DirtySteve

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    It is crazy to me that anyone would think those are acceptable numbers..... Only in michigan. You should check what you would pay in Ohio. $500 deductibles are outrageous but we accept them here in MI like they are the norm because we have to squeeze money out of our insane rates.
     
  15. DirtySteve

    DirtySteve

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    Not necasarilly true in my mind. If the same recipient were to still recieve adequate compensation in a state like Ohio then in my mind there is no loss in coverage. I realize it isn't the exact same compensation.....but we are the extreme. Michigan pays more than anyone to a victim. There has to be a happy median. We don't have to be the highest coverage in the country....and we shouldn't accept that.