Saturday, October 9, 2010

Car Insurance Enigma!

Our car insurance premium came today...
You've heard the expression, "what goes up must come down?"  I've heard plenty of people complain that their car insurance has gone up, but I've never heard anyone say their car insurance went down.  Neither does mine! 
It costs a fortune to insure three cars in New York City with liability, theft and collision.  Everyone knows that the theft and collision part of the bill is very expensive.  Now what I want to know is this: If the value of your car goes down every year in the blue book AND if insurance companies will only pay blue book value, why is it that insurance premiums don't go down every year?  Afterall, if you get into an accident, God Forbid, or your car is stolen, they do not pay you what you paid for your car.  They pay whatever it is worth at that point in time.  We have purchased cars over the years and added them to our insurance.  Every year I check my premium to see if it goes down along with the value of my car...nope, if anything it went up!  I asked my husband why?  It doesn't make sense.  Why am I still paying the same premium on a 5 year old car that I paid when it was brand new, yet if something happened to it today I would get a lot less.
Is this one of the mysteries of life?  It hurts my head when I think about it too much.  Time for a tylenol!

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