Posted by:
stillanon
(
)
Date: October 07, 2023 08:51PM
Yeah, I know a bit about insurance and actuaries. My grandfather was an actuary for the New York Fireman's Fund. I've known all about insurance companies since I was 3. I spent my 1st year in college as an accounting major, thinking about following in my grandfather's successful footsteps. Until I took the courses, bored out of my mind and being surrounded by accountants.
Plus, I know a lot about tickets. I had 17 on my record after going to defensive driving, Texas' version of traffic school in my first year in the 1970's. I probably had 40 more that disappeared. My first car was a 69 Chevelle SS396 with a rod knock. I bought it when I was 15 and my best friend's two older brothers and their friends, were gear heads and were taking auto mechanics in Jr. College. Back then, you could buy late 60's and early 70's muscle cars for $1200-$1500. $500 less if it needed an engine rebuild. That car had 375 HP from the factory (Car companies underestimated true horsepower because insurance companies raised rates on HP cars.) The car probably had 400+ HP from the factory. But, after the rebuild, machined block, port and polished heads, a killer cam, Hooker headers and a Holley 780 double pumper it was a lot more. We didn't have a dyno, but estimated HP was 500+. With a 4.10 12 bolt rear end, it would pull the wheels off about 8 -10 inches in 1st and an inch in 2nd. My parents had no clue to what that car could do. Clear Lake City was a new (built for NASA) city that was an unincorporated part of Houston. Courts were run out of Webster, TX about 6 miles away, or Pasadena, depending on where you got caught. Clear Lake was patrolled by Harris County constables-Cops Lite. I raced a lot, only lost once when my 2nd gear shifter linkage came loose. When you got a ticket, you could pay it or go see Judge Bud West. He would offer you a choice of paying the fine, which went on your record or pay the fine and take a 6 hour defensive driving course and have it not show up on your record, which he advocated (I'm sure the fine money went into a few pockets, but not the Webster treasury.) It got to the point where the two Defensive Driving instructors would joke " Again, Jim? Why don't you just teach this class today?" Things were cool until my parents bought a new car in my 2nd year of college and put me on their insurance plan. Our long time, State Farm insurance guy, Jim Reed, called my Dad and told him that they couldn't put me on their policy because I had 17 tickets (57) on my record. I still lived at home and I still remember that dinnertime conversation and lecture. When I bought my 1st new car, a 1978 T-bird Town Landeau, I was going to pay cash, $8,200, MSRP $9,560. My Dad told me to establish credit and I borrowed $4,200 for 3 years. My car payments were $157.00/mo but my insurance was $209.00/mo. Even though I never had a wreck, ran a red light or DWI. All my tickets were exhibition of speed (wheelies and burnouts) competition of speed (racing) and speeding. That's it. Disliked insurance companies ever since then. And, over a million+ miles later ( I had a sales job where I drove 30K a year) I still have never been in an accident that was caused by me. That should count for something with insurance companies, but it doesn't.
Edited 1 time(s). Last edit at 10/07/2023 08:58PM by stillanon.