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Paid my vehicle insurance the other day.

It is not fun when the bill comes around. Especially around Christmas. Vehicle insurance. You go through the options again. If the vehicle is totaled, I get full replacement value like new. Collision, fire, theft, and a few hundred dollars deductible to bring it down. First accident is forgivable. That is something new, and well appreciated.

After all, in the 20 or more years I must have paid approximately 15 thousand or more on vehicle insurance. I may have only used it for a windshield. Deductible was 50 dollars, and the windshield was 500 at that time. It is a money losing scheme.

And there are scams that all fall around the insurance industry. People walk into the registrars office to get their vehicle registration. They bring in their insurance card. Walk out, then cancel their insurance. Get a refund check in the mail, and then still drive. I have never done it, but I have heard about it. Personally I would be too afraid to get caught, or get into an accident without insurance.

Now, the insurance companies invest this money in the stock markets. Correct me if i am wrong. But, I know the stock market crash of several years ago caused them to jump the rates up a little bit. Maybe it depends who you are dealing with. I remember them saying, because of this huge disaster in this area of the world, your rates are going up. Everybody has to pay a little more. Because you probably lost it in the stock market, was my thoughts after the fact. If you take into consideration everyones money into an incredibly huge system, there should be enough money in this enormous pool to ride out some storms. Are we talking millions or billions of dollars here? I would say hundreds of millions, to billions.

I was wondering if our insurance premiums could be done up like a credit vault. Over the years, you paid out this much to them. A % of it, 10, or 20 % (Not a huge percentage) could be placed in a savings account of some sort. Over time, with 40 or 50 years driving you would have quite a chunk of change in there. That they would give to you when you are done driving, now that the kids are taking you everywhere.

Will insurance companies have the power to invest money too in the future? Deal in RRSPs, stock market, futures? I cannot see why not, but I am unsure of their due diligence in such matters.

Oh, but i am thinking that I am living in Lazzieland again or whatever I called it awhile back...

Thing is, is that if the economy runs good, it means lower insurance premiums are the gist of it all too. Paying 80 per month is much better than paying a 100 per month, and it all helps you the consumer. With that extra 20 dollars, you can go out and buy a movie and a popcorn.

There are some government run systems in the world. This is where everyone pays into one system, not 5 or 8 systems. Therefore, there is more money going to one fund. A bigger pool of money. More money to keep rates lower. More efficiency should be had. Oh, I forgot, it is run by the government. But in Lazzieland, it would benefit the people! Oh, but I am being socialist again :(

That is the thought of the day. Watching my  money burn up in an Insurance Payment, which I hope I may never need to use.. If I live in the city, I will buy a bicycle...

No news on the book front.. Till the next 2 days...


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