Do insurance companies believe in "bad luck"?

  • by dearborn.dakota
  • Nov 06,2016
  • 9 answers

Do insurance companies believe in "bad luck"?


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Insurance Answers (9)

tro 6 months ago

the word is not in their vocabulary

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Casey Y 6 months ago

Bad luck does not exist.

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Anonymous 6 months ago

No. They have actuaries to crunch their numbers.

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Frank 6 months ago

The believe in ACTUARY tables and statistics.

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Insurance Pickle.com 6 months ago

Yes. And, they know within limits how many people out of 1000 will have bad luck in a given year.

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yet-knish! 6 months ago

No.

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rmi 6 months ago

No but they believe in age and gender.
Insurance rate is higher for guys in general as well as older people.

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StephenWeinstein 6 months ago

No. They believe that someone who has been in a lot of accidents most be doing something dangerous, even if the person is not officially "at fault". It could be that the person is driving in places that have a lot of bad drivers. It could be a lot of other things. It doesn't matter. They don't care what the reason is. But they do believe that there is one.

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mbrcatz 6 months ago

No. There are no statistics that show "bad luck". However, there is a very close correlation between credit score, "bad luck" and claims filed. That's why your credit score has a major impact on your personal insurance rates.

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