Ultimately, if everybody gets the same discount, it ends up being nothing more than a defacto rate reduction. The issue of customer loyalty to one insurance company should be a stacked discount based on the number of years with a specific company, 5% for 2 years, 10% for 3, 15% for 5. This would recognize specific cost savings for the reduced acquisition costs that apply to renewal business over time.
In a way, it’s really not that much different from Obamacare in that those who are insured stand to benefit from a larger insurance pool of paid policies. Those who go without insurance should pay a higher price as it’s likely that they will at some time incur expenses in car accidents and hospital emergency rooms.
Setting aside partisan feelings, if one supports offering discounts to people who do insure — and by extension debiting those who do not buy insurance but ought to, then it should make no difference what line of insurance it is.
I do not really understand the arguments against this proposition.
It just rewards people who are responsible and pay their insurance bills. It also rewards military personnel.
The only people who pay more are those who willfully did not pay for insurance.
Ultimately, if everybody gets the same discount, it ends up being nothing more than a defacto rate reduction. The issue of customer loyalty to one insurance company should be a stacked discount based on the number of years with a specific company, 5% for 2 years, 10% for 3, 15% for 5. This would recognize specific cost savings for the reduced acquisition costs that apply to renewal business over time.
In a way, it’s really not that much different from Obamacare in that those who are insured stand to benefit from a larger insurance pool of paid policies. Those who go without insurance should pay a higher price as it’s likely that they will at some time incur expenses in car accidents and hospital emergency rooms.
Just my two cents.
How does every issue get back to Obama????
Ummm, election day?
Setting aside partisan feelings, if one supports offering discounts to people who do insure — and by extension debiting those who do not buy insurance but ought to, then it should make no difference what line of insurance it is.