# Fuck you car insurance! **URL:** \ **Category:** The BBQ Pit\ **Created:** [July 10, 2012, 4:28pm UTC](https://boards.straightdope.com/t/fuck-you-car-insurance/627804 "2012-07-10T16:28:02Z")\ **Posts on this page:** 14\ **Page:** 2
**Author:** ![Athena](https://avatars.discourse-cdn.com/v4/letter/a/35a633/32.png) [@Athena](https://boards.straightdope.com/u/Athena)\ **Post date:** [July 10, 2012, 6:26pm UTC](https://boards.straightdope.com/t/fuck-you-car-insurance/627804/21 "2012-07-10T18:26:17Z")
> [@Labrador\_Deceiver](#): > > First of all, I don’t know that “most” mortgages include a prepayment penalty. That may be true, but I’m not positive either way. I’ve never had one on any of my mortgages. Me neither, and between new mortgages and refinances, I have to think I’ve had at least 7-10 separate mortgages over the past 20 years. They all specify “no prepayment fees.” ---
**Author:** ![Anaamika](https://avatars.discourse-cdn.com/v4/letter/a/5f9b8f/32.png) [@Anaamika](https://boards.straightdope.com/u/Anaamika)\ **Post date:** [July 10, 2012, 6:35pm UTC](https://boards.straightdope.com/t/fuck-you-car-insurance/627804/22 "2012-07-10T18:35:19Z")
> [@Leaffan](#): > > The lender is expecting principle and interest payments for x number of months. > > You walk in and say “I have the remaining principle here in cash and want to pay off my loan.” > > The lender says, “yes but I was also expecting y amount in interest, therefore if you give me the principle+(y-z) we can come to terms.” y being the remaining interest and z being an amount to be subtracted, that was already agreed to when you signed the mortgage. That is awful. I’m glad to hear it’s not that common. I would want to make sure to sign a contract that did not have payment fees…I don’t really care if he is “expecting” interest payments. Seriously. I buy a house tomorrow. I pay on it for, say, ten years. My dad passes away. I get a ton of money? I’ll be darned if I can’t just pay it off at that time. God, house-buying sounds so crazy. ---
**Author:** ![muldoonthief](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/muldoonthief/32/3188_2.png) [@muldoonthief](https://boards.straightdope.com/u/muldoonthief)\ **Post date:** [July 10, 2012, 6:35pm UTC](https://boards.straightdope.com/t/fuck-you-car-insurance/627804/23 "2012-07-10T18:35:27Z")
> [@Really\_Not\_All\_That\_Bright](#): > > What “civilized society” is that? Most non-FHA mortgages include early payoff penalties. Do you have a cite for the “most non-FHA mortgages include early payoff penalties”? Between purchases and refis I’ve had about 8 different mortgages over the past 15 years, and never had a prepayment or early payoff penalty. ---
**Author:** ![Cheesesteak](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/cheesesteak/32/3694_2.png) [@Cheesesteak](https://boards.straightdope.com/u/Cheesesteak)\ **Post date:** [July 10, 2012, 6:48pm UTC](https://boards.straightdope.com/t/fuck-you-car-insurance/627804/24 "2012-07-10T18:48:32Z")
I don’t know about “most” but what I just read earlier suggests that many states have laws making payoff penalties illegal, but federal law that allows Adjustable Rate/Balloon type mortgages trumps state law and makes the penalties legal, but only for those types, and only for non-FHA loans. Since I’m a “fixed rate or bust” type of guy, I didn’t get any penalties on my loans. ---
**Author:** ![Really\_Not\_All\_That\_Bright](https://avatars.discourse-cdn.com/v4/letter/r/e8c25b/32.png) [@Really\_Not\_All\_That\_Bright](https://boards.straightdope.com/u/Really_Not_All_That_Bright)\ **Post date:** [July 10, 2012, 7:41pm UTC](https://boards.straightdope.com/t/fuck-you-car-insurance/627804/25 "2012-07-10T19:41:10Z")
> [@muldoonthief](#): > > Do you have a cite for the “most non-FHA mortgages include early payoff penalties”? Between purchases and refis I’ve had about 8 different mortgages over the past 15 years, and never had a prepayment or early payoff penalty. Unless you’re fairly wealthy it would be unusual if you didn’t have mostly or all FHA backed mortgages. And no, I don’t have a citation; we refinanced two months ago and it’s what the lenders told us when we expressed concern about early payment clauses in our existing mortgage. This is all beside the point, though. I was merely using mortgages of an example of other services you can’t necessarily just opt out of whenever you like. ---
**Author:** ![Inigo\_Montoya](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/inigo_montoya/32/124_2.png) [@Inigo\_Montoya](https://boards.straightdope.com/u/Inigo_Montoya)\ **Post date:** [July 10, 2012, 7:44pm UTC](https://boards.straightdope.com/t/fuck-you-car-insurance/627804/26 "2012-07-10T19:44:21Z")
Fuck, I just can’t help myself. Even in the UK I’ll wager you visited a comparison SITE and your attempt to lower your premium is VAIN. As for the rest of your rant, it just bespeaks a profund ignorance of how insurance works and a perfectly natural anger response to uncertainty. You’ll grow up eventually, and when you do you will either choose to learn why your premium changes, or you will cease to care. ---
**Author:** ![Really\_Not\_All\_That\_Bright](https://avatars.discourse-cdn.com/v4/letter/r/e8c25b/32.png) [@Really\_Not\_All\_That\_Bright](https://boards.straightdope.com/u/Really_Not_All_That_Bright)\ **Post date:** [July 10, 2012, 7:51pm UTC](https://boards.straightdope.com/t/fuck-you-car-insurance/627804/27 "2012-07-10T19:51:34Z")
I don’t think the OP is unreasonably pissed off considering her rate was unilaterally jacked up. She didn’t agree to the new terms, so she should be able to opt out without a penalty. ---
**Author:** ![GrandWino](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/grandwino/32/67_2.png) [@GrandWino](https://boards.straightdope.com/u/GrandWino)\ **Post date:** [July 10, 2012, 7:55pm UTC](https://boards.straightdope.com/t/fuck-you-car-insurance/627804/28 "2012-07-10T19:55:01Z")
> [@Really\_Not\_All\_That\_Bright](#): > > I don’t think the OP is unreasonably pissed off considering her rate was unilaterally jacked up. She didn’t agree to the new terms, so she should be able to opt out without a penalty. But she did voluntarily move to an area with a higher statistical likelihood of needing to make a claim. ---
**Author:** ![Inigo\_Montoya](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/inigo_montoya/32/124_2.png) [@Inigo\_Montoya](https://boards.straightdope.com/u/Inigo_Montoya)\ **Post date:** [July 10, 2012, 7:57pm UTC](https://boards.straightdope.com/t/fuck-you-car-insurance/627804/29 "2012-07-10T19:57:13Z")
> [@Really\_Not\_All\_That\_Bright](#): > > …she should be able to opt out without a penalty. That there is the crux of it–the outright injustice that shopping can effectively happen only at renewal. But that’s more of a legislation thing that The Good And Proper People Of The UK have not seen fit to correct. Maybe things are different under a monarchy though. ---
**Author:** ![Rachellelogram](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/rachellelogram/32/8689_2.png) [@Rachellelogram](https://boards.straightdope.com/u/Rachellelogram)\ **Post date:** [July 10, 2012, 9:01pm UTC](https://boards.straightdope.com/t/fuck-you-car-insurance/627804/30 "2012-07-10T21:01:36Z")
If you truly CAN’T afford the new rate, call them and raise your deductibles. That will make it more affordable. Then, drive as little as possible for the next 4 months. And definitely don’t cause an accident! ---
**Author:** ![Really\_Not\_All\_That\_Bright](https://avatars.discourse-cdn.com/v4/letter/r/e8c25b/32.png) [@Really\_Not\_All\_That\_Bright](https://boards.straightdope.com/u/Really_Not_All_That_Bright)\ **Post date:** [July 10, 2012, 11:44pm UTC](https://boards.straightdope.com/t/fuck-you-car-insurance/627804/31 "2012-07-10T23:44:01Z")
IIRC, you can’t have a deductible for third party coverage in the UK. > [@](#): > > That there is the crux of it–the outright injustice that shopping can effectively happen only at renewal. But that’s more of a legislation thing that The Good And Proper People Of The UK have not seen fit to correct. This. **ladybird** , call your MP and complain about the law. ---
**Author:** ![Leaffan](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/leaffan/32/299_2.png) [@Leaffan](https://boards.straightdope.com/u/Leaffan)\ **Post date:** [July 11, 2012, 1:15am UTC](https://boards.straightdope.com/t/fuck-you-car-insurance/627804/32 "2012-07-11T01:15:02Z")
> [@Anaamika](#): > > That is awful. I’m glad to hear it’s not that common. I would want to make sure to sign a contract that did not have payment fees…I don’t really care if he is “expecting” interest payments. > > Seriously. I buy a house tomorrow. I pay on it for, say, ten years. My dad passes away. I get a ton of money? I’ll be darned if I can’t just pay it off at that time. > > God, house-buying sounds so crazy. I’m thinking that maybe Canadian banks are in better shape because we have more restrictive regulations. You guys caused the clusterfuck and our banks are still OK. Sometimes government regulations are a good thing; this isn’t awful at all, it’s to provide protection to lending establishments. ---
**Author:** ![friedo](https://avatars.discourse-cdn.com/v4/letter/f/8edcca/32.png) [@friedo](https://boards.straightdope.com/u/friedo)\ **Post date:** [July 11, 2012, 1:48am UTC](https://boards.straightdope.com/t/fuck-you-car-insurance/627804/33 "2012-07-11T01:48:11Z")
> [@Really\_Not\_All\_That\_Bright](#): > > What “civilized society” is that? Most non-FHA mortgages include early payoff penalties. Bullshit. ---
**Author:** ![ZipperJJ](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/zipperjj/32/211_2.png) [@ZipperJJ](https://boards.straightdope.com/u/ZipperJJ)\ **Post date:** [July 11, 2012, 3:11am UTC](https://boards.straightdope.com/t/fuck-you-car-insurance/627804/34 "2012-07-11T03:11:20Z")
> [@Anaamika](#): > > God, house-buying sounds so crazy. Not just houses, but that can be a clause for car loans too. I remembered to inquire about prepayment penalties on my mortgage because I’d first heard about them on my car loan. Because the car loan specifically pointed out that there was no penalty. [Previous page](https://boards.straightdope.com/t/fuck-you-car-insurance/627804.md?page=1)