#Insurance is a type of gambling based on percentages of risk that can be pretty accurately assessed but when #InuranceCompanies have to pay out more than they expect & actually suffer losses, they plead poverty & file to increase their rates which state #InsuranceCommissioners usually just rubberstamp, much like the #CA #PublicUtilitiesCommission does for #PGE.
All of my insurance rates (as well as my PGE bills) have gone up substantially in the past 10 years & that's while I've never filed a insurance claim (other than for a couple of broken windshields) on any of my 5 car insurance polices or on my homeowners polices.
I've got enough $ on hand to self-insure my cars & house & I'm seriously thinking about doing that my paying off my home mortgage and, for my cars, cancelling collision coverage & only carrying enough liability coverage as permitted by the law. My back up on liability is a $2M liability umbrella that I also have.
Going to look into how much $ in premiums this is going to save me shortly.
