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Xolodno

(7,104 posts)

24. Low price oil is leading to higher auto insurance prices.

Reply to Purveyor (Original post)

Tue Dec 8, 2015, 11:52 AM

Dec 2015

When the cost was high, less people took to the roads, used public transportation, freeways less congested and auto insurance was starting to drop in price (less car's on the road = less accidents).

Now all the major carriers are reporting combined ratios well above 100% for auto insurance. I suspect next year we will see some stark increases.

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Highlight:

Oil Tumbles to Six-Year Low as OPEC Abandons Production Target [View all] Purveyor Dec 2015 OP

Maybe this will kill the fracking business. philosslayer Dec 2015 #1

It is doing just that but will it set in motion a recession? Purveyor Dec 2015 #2

Are you kidding? philosslayer Dec 2015 #3

Until OPEC decides to stop glutting the market - then what? jonno99 Dec 2015 #5

That's the thing..... Plucketeer Dec 2015 #10

Yep. Even now though one of my boys is looking to trade in his "crew-cab" for a vehicle jonno99 Dec 2015 #11

I still drive my '57 Studebaker truck Plucketeer Dec 2015 #19

Dont count on it unless there is a major change from relying on oil for most of the world within cstanleytech Dec 2015 #16

I'd like to think frakking killed OPEC! yallerdawg Dec 2015 #4

+1 yep. jonno99 Dec 2015 #7

actually, it was the other way around... Javaman Dec 2015 #22

Fracking and the increasing viablity of renewables put pressure on OPEC. OPEC responds by trying pampango Dec 2015 #23

Unfortunately, this isn't good news FLPanhandle Dec 2015 #6

Correct MosheFeingold Dec 2015 #9

You only forgot to add the high-stake traders that can influence the price. erronis Dec 2015 #12

But see, high price oil is an incentive for more oil! yallerdawg Dec 2015 #13

+1 can't argue with that! nt jonno99 Dec 2015 #15

Well, the Saudis owe us more than that! But it's a start. Elmer S. E. Dump Dec 2015 #8

Watch your own back. The Saudis have nothing but disdain for you (and me.) erronis Dec 2015 #14

I hear you, bro. Elmer S. E. Dump Dec 2015 #18

Glad to see the lower prices but BumRushDaShow Dec 2015 #17

War in the Oil Patch boosts PPB. Octafish Dec 2015 #20

If this keeps up Turbineguy Dec 2015 #21

Low price oil is leading to higher auto insurance prices. Xolodno Dec 2015 #24