Insurance rate increase??

Mine hasn’t, but my mother’s went up about $200 more a year.
She just turned 60 last year. They said that didn’t have anything to do with it.
And claim, labor and parts for repair were the reason.

I forget all the details and coverage figures.
But I have full coverage. Comprehensive and collision.
I pay $57 a month for my truck. I have USAA.

 

Direct quote from my State Farm agent. "Thefts and accidents have gone up since COVID is 'over', so the rates have been adjusted for that".

When I asked, "So when nobody was driving around and there were virtually zero claims, our rates did not go down, but stayed the same. And now that things are back to "normal", the rates are going up, correct?"

To which they answered, "Yep".

I have a completely clean record, no at-fault accidents, no tickets, no points, nothing. Been a customer for 9 years with State Farm so far. My credit score has been over 800 for many years and has only been increasing, so that has no effect on my premium increase, nor have I changed coverages.

 

My credit score is Excellent in the 832 range. IAW TransUnion

 

This speaks to the "risk pool" by region I mentioned previously...

"Direct quotefrom my State Farm agent. "Thefts and accidents have gone up since COVID is 'over', so the rates have been adjusted for that"."

 

Insurance companies are brutal. This covid bubble in vehicle prices has gone to their heads, along with all the house insurance rises due to lumber costs and homes rising in value.

The only thing I can suggest is driving something you don't have to insure at full coverage. I drive a 2012 and I don't insure for anything but liability. medical, and uninsured driver, which are all required by my state. Besides... IMO full coverage is entirely bogus anyways. They charge you the same amount every year (or more) and if you get in an accident they pay only on the depreciated value. That makes no sense.

What's really getting me is the house insurance. I used to be able to put my own value on my house and insure it for what I paid for it. Now the rules have changed and I have to cover it for "replacement cost" with these inflated lumber prices. And the contents are a percentage of the house value insured. I could probably replace every stick of furniture, kitchen stuff, fabrics, and hardware for less than 20K, and instead I'm paying to insure it for eight times that amount. And it's supported by the state rules.

I'm retired. This is NOT what I expected. The state changing the rules has f**ked everything up.

 

Pretty soon insurance companies will be refusing to insure fire and wind damage and anything else they deem likely... because it could happen. They already deny "earth movement" and flooding unless you pay more... and how likely are those for most of us?

And the state will require insurance.

 

YES, let's not forget that states do have influence on insurance as well...

 

damn I'm 810-817 I'm impressed with 832 That's with clean driving history and an 830 CS, yes I got there!

 

I just received my auto renewal for 6 months from Geico for 503.00 the same price as the previous bill. I'm bundled house and truck through them. I'm nervous about my home renewal in June that has been increasing at a clip of 200 to 300.00 every year.

 

My insurance is renewing for 6 months next week.

Got the bill in for 2 vehicles : 2022 Tacoma SR5 and 2004 Highlander, $100,000/$300,000 full coverage, $250 deductible for $1000/6 months.

When you divide it, the Tacoma is about $130/month, and the highlander is about $40/month.

Back when I only had my 2ng gen until June 2022, I had the same level coverage for $50/month. It was sweet!!!!

 

One would think that a loyal customer of many years would get the best rates assuming all things equal. Insurance companies love to stick it to loyal customers since they are less likely to shop around and switch coverages. You should get the highest deductible possible, as you want to pay cash for the smaller things and not use your insurance if possible. They use your CLUE report for risk assessment. If you don’t know what that is I would suggest looking.

 

https://www.insurance.com/home-and-renters-insurance/how-to-get-a-clue-report

 

My insurance is State Farm and yes, it went up for about $100 for next 6 months. It went up around $50 for current 6 months premium. I did call the agent last week but nobody answering.
Two cars, two drivers, wife doesn't work, and I go to office 2 or 3 times per week. So not much driving, no tickets and no claims in the past. I will call again next week and see what they will say.
Switched insurance few times in the past because same reason, when I called Geico and they said there is too many claims in Houston at that time... to me sounded like they think I am dumb, if I did not make any claim WTF I have with other people making claims. Switched to All State... worst experience, ... House insurance premium for first pay period went up like $150 over what was quoted because in mid time they found out wife had accident with car, I was like what the hack my house has with my wife's having car accident that wasn't even her fault. She is not responsible person, and she lives in the house. I should know right that time it will not work out between us for long time. So ended with calling them every time when its renewal is up. Last time when I called even before I said anything they were like .... Oh great that you called we made mistake and increased insurance for everybody... So that what they doing. All companies. Send out increase in premium and if you don't call great, so just imagine that just 10 out of 100 people don't call how much money extra they will make.
Switching companies is way to go.
I will see what State Farm will say this time, but I am thinking that one of my cars since is 13 years old and doesn't worth much also doesn't need full coverage.

 

Geico has stayed consistent with me *knocks on wood* throughout recent years here in socal on my taco (mid 30's clean record @ around 1200/yr for my 2013 4x4). could be regional but more likely sign of the times, hell one year i had motorcycle insurance go up a significant % because there were a few claims that on my rather ho hum bike that no one wanted to buy during production (so rather rare), rates went back down after that year... stupid computers and robots processing numbers.

That stated... taco are high crime vehicles theres no doubt about that from many angles.... look at it from the thief perspective.... this person (owner of the vehicle) paid minimum 40+k these days and has all sorts of shit (speaking generally) strapped on it... its a gold mine to the thief's.

Cus

LAWS DONT STOP CRIMINALS.

So the ins companies pass right along the extra costs of claims to the rest of the owners within that group and region. Its fucked, it sucks but hey, keep voting in those soft on crime defund the police lets types.... The general populous digs their own grave when it comes to stuff like this cus "iT DoESnT effECT mE"

 

been with geico for 15 years+. auto, home, and umbrella. everything was going up silly amounts. geico would not help with the absolutely horrible customer service I was getting from a liberty mutual claim on the roof so I decided I'd had enough and went to an independent broker to see what else is out there and didn't want to be limited to the plans an agent would sell. ended up saving close to $1K going elsewhere. I plan to shop every year and go with whoever has the best price for the coverage I need.

 

Contacted GEICO ( Company not my Agent ) this morning and the idiot on the phone sounded like he thought that we were retarded for questioning the increase. He said that the State had required them to increase the policy by 51.7 %. LOL what a joke, he actually thought we would buy that load of crap. He was clueless so we hung up on that moron.

Called the state insurance commissioner and asked them about the "required rate increase of 51.7% and they also got a good laugh. They said Insurance companies always blame them. They said GEICO requested a 15% increase that the state approved and 51.7% is insane.

Contacted my agent and he is looking into it, he is going to call me back when he finds out probably in the morning. He did confess that GEICO has seemed to go overboard with their increases lately...

 

I quote shop both house and car every November. I stopped being loyal when Amica tried to double mine 8 years ago. Now, if I'm with the same insurance company for more than two years, its coincidental.

 

all mine is up also .with perfect record.and 835 credit,liker everything else i guess.

 

My most recent bill (Progressive) was $270 for six months - the last bill was $251. That is for payment in full. Otherwise it would have been about $100 more.

My 2013 Taco has full coverage (because it's my daily driver), and I also have a 2007 Buick Ranier that just has the the state minimums for liability.

I don't even remember when I first signed up for Progressive, but to this day, I periodically (maybe once every two or three years) poke at other companies, and I have yet to find anything cheaper.

For me, I have found GEICO tends to be one of the more expensive companies for same/similar coverage every time I check, but I know I'm getting some kind of discount for being with Progressive for so long (though I don't know what the discount equates to off hand).

For regional variance reference, I live in NH.

 

If you don't drive much, try a pay-by-mile company. I drive <500 miles a month across 3 vehicles and pay <$90/month for various coverage plans with Metromile.
Before that (about 2021) it was somewhere around $230/mo with USAA