Finally i am understanding - we live for the rich to take advantage of us.
Let me tell the full story
I was driving last day and my car skid and hit side of the road. I was not on high speeds or my car was not bad. But i think i was a bit fast for the climate ( it was drizzling and road became slippery ). I travel the same way for last 3 yrs and never had any problems.Why it slipped on that day ? I am not sure because i travelled on same road 8.5 hrs before. lets be back to story.
So car skid and hit the concrete barrier. Fortunately nobody got injured (yes i had my 2 year old boy in the car ) but the car got some repairs, I reported the incident to police and some towing company towed the car to ICBC.
Now the real story :
Dialed ICBC - The first made the claim and asked options. Then real understanding started. If i make a claim even its $100 its going to have subsequent insurance increase of 55% next year 45% second year and 35% third year and 4th year it will be back to my current rate. This means around $5000 extra to my budget over 3 years. I brought the car for $3500 2 years back.This means ICBC write off my car is going to give me $3500 max.
Afer i heard all maths from icbc i dialed one of my friend for a second
opanion and he revealed his story which finally end up in not claiming and fixing car himself.
Now i started thinking, what about rich ? They own cars of $35000+, a skid means $10000 min. They also pay the same insurance extra as me if they claim ( so extra $4000 ) and $6000 for free.
From where this money comes ? From mine and your insurance. Finally we pay insurance for
For making ICBC profit full
For giving free money to Rich ( last 3 yrs i paid more that $7000 as insurance to ICBC and now i have to write off my car which adds another $2000 ( after my own use deduction )
Time to think - Do we really need these systems ??
ICBC ? http://www.icbc.com/
Expect another article on Carbon tax, This is another way the working class pay for rich to remodel/expand their business.