Airbags suck

[Unit 5302]

Mach 1, airbag systems cost thousands of dollars per car. Do you think that money just pops out of cracks in the Ford proving ground pavement every time they install an airbag? Cost of fully optioned 1987 GT $13,000. Cost of fully optioned 2002 GT $24,000. While you may think 24k = 13k, I don't. Even when you consider inflation, you only get $21,000 at a 3.5% per year inflation rate. With Ford being far more efficient than ever, and technology used in cars getting older and cheaper, it would seem to me something must be adding to the price. Ford makes very little money on selling a Mustang. The profit is in financing for the car. The enhanced ABS braking systems, and airbag systems are largely part of the equation no doubt.

So I guess we're not in agreement. I think it's stupid for me to have to pay for an expensive technology (airbags) based on the idea it may save a person who's decided not to buckle up for whatever reason. It's also stupid for me to have to pay for an expensive technology which has a history of killing people or causing serious injuries, and has a spotty reputation for doing good at best. I don't feel airbags have saved virtually anybody who wouldn't have been saved by wearing a seat belt. The government mandates this kind of junk based on all the people who are safety psycho. If nobody wanted airbags, chances are we wouldn't have airbags.

While I would agree insurance premiums on single people under the age of 25, especially males, is extremely profitable, most insurance is not. Tell me this 84LX89GT, have you ever seen how much money gets paid out on a minor injury accident claim? Even the slightest claims generally have a payout well in excess of a $1000. Many accidents exceed people's coverage. Minimum coverage is often 25/50, or 25,000 property/50,000 personal injury. An accident is likley to generate MRI's, CAT scan's, and X-Rays. Perhaps you're an expert on the fee's associated with such procedures? I'll give you a hint. Both the MRI and the CAT scans will generally have a charged amount in excess of a $1000. A simple pain in the neck can generate $10,000 of payout in a heartbeat. Damage a couple cars slightly and you're likely to have $5000 in damage there. Couple people complain of minor aches and pains, there's a visit to the doctor who refers them to get some scans. Now you're talking another $5k when medical bills are taken care of. Insurance fraud? It's certainly built into your rate. As is underinsured/uninsured motorist protection. Take a look at the premium that goes towards that part of your insurance. Maybe you'd like to compare the hospital bill of a person in a 40mph head on who was wearing their seatbelt vs a person who was not? Well, the person who wasn't is likely dead. That's a pretty expensive bill when the lawsuit is figured in. I've worked for several insurance companies. CNA, RSKCo, Prudential Financial, United Health Group, etc. Of all the insurance types, I know of only one that I would still consider dirty and underhanded. That's medical/health insurance. Many insurance companies no longer even want to write auto policies. You'd think such a killer industry would be attracting companies, not pushing them away.

Insurance companies are under strict regulations all over the place. There is generally a compliance department, legal department, product design department, actuaries, processors, case managers, agents, management, and executives. Lemme tell you, most people in the insurance business don't make squat. Insurance companies are in business to make money, just like the rest of businesses. If they can offer a product at a lower rate and still make a solid return, they'll do it to get the business.

Honestly, I get hosed with car insurance. Most people do not. One of the people I work with has a new Mazda Tribute, and his wife drives a newer Toyota Corolla. Not extremely expensive cars by any means. They pay about $120/mo for car insurance in the Minneapolis metro. So per year, they pay right around $1500 for auto insurance. They are covered if somebody steals their car(s), if somebody vandalizes them, if they get into an accident etc. They have coverge for their own assets in excess of $30,000, along with person injury coverage probably in the $200,000 area, and probably an additional $70,000 of property damage coverage between the 2 policies. Course, that's only $300,000 of protection for $1500 a year, including administration, and business expenses. Yeah, they're probably getting hosed.