Why doesn't car manufacturers provide their own car insurance?
I always ask myself this question. Why doesn't the Ford, Chevrolet, Mercedes Benz, Toyota, Nissan, and more provide their own car insurance? It's doesn't make a lot of sense to leave the insurance duties to companies that knows little to nothing about cars. Plus, Insurance would be cheaper. Sick and tired of getting RIP off by the Geico, and State farms of the world.
What do you people think?
More expense for them. If they are not obligated to offer you insurance they aren't going to. Once the car is out of warranty the manufacturer doesn't care aboput the vehicle other than wanting to sell you expensive OEM parts.
There are manufacturers here that will lease you a car for 3 or 4 years for a fixed price and all you pay on top of that is your fuel.
Car manufacturers specialise in manufacturing cars, insurance companies should know the insurance market inside and out and be able to give you the best offers. If you feel your insurance is too expensive why not shop around for a better deal?
Tesla just started doing that in California.
p.s. It's ''why don't car manufacturers'' not ''why doesn't''
Stupid idea. What do car makers know about insurance? Next week you ask. Why don't insurance companies make cars!
Because knowing about cars isn't as important as knowing about drivers. Some of the car companies you named are in other countries and don't know enough about the driver; knowing about the car doesn't make up for that. An insurance company can do the job because it knows about drivers, and it doesn't need to know more about cars than it does.
Insurance companies understand risk, that is the whole basis of insurance and not going broke.
Maybe insurance companies should manufacture cars
I think that if they want to start offering insurance, let them have at it.
Competition (Capitalism) works!
The more competition, the cheaper insurance should become
They have enough to do just manufacturing vehicles. If they set up an insurance company they would have to get a separate license for each state, learn state rules, find someone to do underwriting. Not a feasible idea.
Because they aren't insurance companies.
I heard Tesla was considering this. There would be no reason they could not, all they need is a cushion of capital to meet regulations. Many manufacturers have their own financing arm now that used to be bank territory.
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