|
|
|
05-15-2024, 04:44 PM
|
|
Member
|
|
|
Join Date: Dec 2009
Location: South Texas & San Antonio
Posts: 33,932
Likes: 256
Liked 29,598 Times in 14,276 Posts
|
|
Insurance renewal premium shocker today
I got my insurance bill today, and I was stunned. Both home and auto insurance premiums have doubled over the last two years. Homeowners premium has gone from roughly $1500 to $3000 and two cars (liability and comprehensive only, no collision ) from $2150 to $4020. Same home, same cars, same coverage, no claims since 2001. Is everyone else seeing such massive increases?
Last edited by DWalt; 05-15-2024 at 06:06 PM.
|
The Following 7 Users Like Post:
|
|
05-15-2024, 04:52 PM
|
|
Member
|
|
|
Join Date: Apr 2012
Location: Northern NY-AdirondackMts
Posts: 8,257
Likes: 13,420
Liked 13,798 Times in 5,237 Posts
|
|
Quote:
Originally Posted by DWalt
I got my insurance bill today, and I was stunned. Both home and auto insurance premiums have doubled over the last two years. Homeowners premium has gone from roughly $1500 to $3000 and two cars (liability and comprehensive only, no collision ) from $2150 to $4020. Same home, same cars, same coverage. Is everyone else seeing such massive increases?
|
I sure hope not. Both my auto and home (same company) will renew in Sept!
Do you think its due to where you live?
__________________
14 S&W Revs none with locks!
|
05-15-2024, 04:56 PM
|
|
Member
|
|
|
Join Date: Mar 2014
Location: Las Cruces, NM
Posts: 333
Likes: 1,565
Liked 684 Times in 172 Posts
|
|
Insurance, yuck!
I just got my police renewal notice. And it did the same exact thing! Went from 2K to 4K! Same everything…..
__________________
Witzell
"The dude abides".
|
05-15-2024, 04:59 PM
|
|
Member
|
|
|
Join Date: Jul 2010
Location: Prowd Kentuckian
Posts: 1,859
Likes: 2,530
Liked 1,668 Times in 677 Posts
|
|
Same numbers here. My Agent is shopping. No claims for several years.
__________________
"Happiness is a warm gun"
|
05-15-2024, 05:14 PM
|
|
Member
|
|
|
Join Date: Apr 2012
Location: Houston, TX
Posts: 3,871
Likes: 1,693
Liked 6,543 Times in 2,390 Posts
|
|
Yes. Start shopping.
We've had more than our share of severe weather in the recent past. On top of that labor and materials are way up. I switched a year ago when I got a 40% increase in my auto insurance from Geico. I moved to them from Progressive for the same reason.
Then I got rid of my F350 (didn't really need a truck anymore) and bought a 2012 Honda mostly because of the insurance but also because at the time cars were just stupid expensive. I only carry liability now. The Civic is a disposable car.
Some insurance companies have quit writing policies in Texas entirely.
Edit to add: From this morning's CPI for April:
"The motor vehicle insurance index rose 1.8 percent in April, following a 2.6-percent increase in March."
Those are just one month increases. Insurance is one of the inflation leaders.
Last edited by glenwolde; 05-15-2024 at 05:22 PM.
|
The Following User Likes This Post:
|
|
05-15-2024, 05:16 PM
|
SWCA Member
|
|
|
Join Date: Apr 2019
Location: Southern California
Posts: 527
Likes: 1,677
Liked 729 Times in 379 Posts
|
|
I renewed my Homeowners Policy Jan 13 this year. I felt very lucky since many Insurance Companies have quit writing policies for existing customers in California because of their 'losses'.
I had a water leak in my brand new kitchen and submitted a claim Jan 17.
I can't wait for next years premium.
|
05-15-2024, 05:22 PM
|
|
Member
|
|
|
Join Date: Nov 2005
Location: Florida
Posts: 696
Likes: 62
Liked 402 Times in 130 Posts
|
|
I’m on a six month policy for auto insurance.
No accidents or claims in decades.
Rate goes up about $100 every renewal.
No fault State.
Agent claims it because of the number of uninsured motorists. (Illegals mostly)
|
The Following 7 Users Like Post:
|
|
05-15-2024, 05:25 PM
|
SWCA Member
|
|
|
Join Date: May 2011
Location: pa
Posts: 2,890
Likes: 4,093
Liked 5,440 Times in 1,482 Posts
|
|
Quote:
Originally Posted by sjmjax
I’m on a six month policy for auto insurance.
No accidents or claims in decades.
Rate goes up about $100 every renewal.
No fault State.
Agent claims it because of the number of uninsured motorists. (Illegals mostly)
|
My car insurance just went down $130 yearly for paying for six months at a time up front.
|
The Following User Likes This Post:
|
|
05-15-2024, 05:40 PM
|
|
Moderator
|
|
|
Join Date: Nov 2015
Location: SE Michigan
Posts: 18,283
Likes: 8,448
Liked 17,517 Times in 5,739 Posts
|
|
Not as radical, but mine went up substantially. I shopped around and all the quotes I got were all equally high.
__________________
So many S&W's, so few funds!!
|
05-15-2024, 05:47 PM
|
|
Member
|
|
|
Join Date: Jun 2014
Location: Hollywood
Posts: 10,890
Likes: 16,809
Liked 26,086 Times in 8,038 Posts
|
|
My biggest fear of hurricane season isn't the storms but the yearly homeowner rate increases if not being dropped completely even with no claims.
|
The Following 4 Users Like Post:
|
|
05-15-2024, 05:54 PM
|
Member
|
|
|
Join Date: Jan 2019
Location: Vermont
Posts: 2,414
Likes: 927
Liked 6,624 Times in 1,822 Posts
|
|
About a 20% hit on my last renewal. My home, barn, 2 garages, an office outbuilding, my tractor and 2 new vehicles will full coverage including collision...$2375 a year. Not as bad as some are paying, but I wasn't happy with the 20% increase. They said it was due to inflation driven increases in repair and replacement costs.
Local news also just reported BCBS requested a 19% increase for VT health insurance rates...thank God for Tri Care.
Last edited by dockmurgw; 05-15-2024 at 05:57 PM.
|
The Following User Likes This Post:
|
|
05-15-2024, 06:19 PM
|
|
Member
|
|
|
Join Date: Dec 2009
Location: South Texas & San Antonio
Posts: 33,932
Likes: 256
Liked 29,598 Times in 14,276 Posts
|
|
Very significant inflation item, but I don't think that insurance premiums are included in any inflation indices. Nor are vehicle repair expenses which have also increased rapidly. All-inclusive true inflation increases are far greater than the government-doctored inflation numbers say. We are on the same path as what happened in the Weimar Republic after WWI.
|
The Following 10 Users Like Post:
|
|
05-15-2024, 06:27 PM
|
Member
|
|
|
Join Date: Apr 2018
Location: Central Florida
Posts: 1,707
Likes: 1,737
Liked 4,216 Times in 1,300 Posts
|
|
Quote:
Originally Posted by DWalt
I got my insurance bill today, and I was stunned. Both home and auto insurance premiums have doubled over the last two years. Homeowners premium has gone from roughly $1500 to $3000 and two cars (liability and comprehensive only, no collision ) from $2150 to $4020. Same home, same cars, same coverage, no claims since 2001. Is everyone else seeing such massive increases?
|
This is my eternal question: Why is it getting more and more expensive to insure my car as it costs less and less to replace over time???
Now with my house I can see how a steady increase would be rational as it's value has steadily increased over the years on average, but the same cannot be said for any vehicle I've ever owned - yet the insurance costs keep going up.
Last edited by Jon651; 05-15-2024 at 09:10 PM.
|
The Following User Likes This Post:
|
|
05-15-2024, 06:50 PM
|
Member
|
|
|
Join Date: Feb 2007
Location: SW MT
Posts: 6,813
Likes: 10,690
Liked 6,126 Times in 3,018 Posts
|
|
Mine went from $2300 in 2022 to $3300 in 2023. When this years came back @ $4050 I found another agent who got a reputable company with the same coverage for less than the 2022 price.
Car insurance went up but we added a 16 yr old granddaughter. When her brother comes on next year I already cringe.
__________________
Front sight and squeeze
Last edited by mtgianni; 05-15-2024 at 06:51 PM.
|
The Following 2 Users Like Post:
|
|
05-15-2024, 07:10 PM
|
Member
|
|
|
Join Date: Dec 2015
Posts: 2,578
Likes: 890
Liked 4,645 Times in 1,553 Posts
|
|
insurance coverage for medical payments might be higher thanks to Ocare and high medical costs. Just guessing.
Collision is high on newer cars thanks to the complex electronic junk they put in cars now. Three row SUVS, two additional passengers to cover?
|
The Following 2 Users Like Post:
|
|
05-15-2024, 07:10 PM
|
Member
|
|
|
Join Date: Jan 2017
Location: Pittsburgh, PA
Posts: 5,342
Likes: 7,363
Liked 8,348 Times in 3,306 Posts
|
|
Quote:
Originally Posted by wnwitzell
I just got my police renewal notice. And it did the same exact thing! Went from 2K to 4K! Same everything…..
|
I’m wondering, what is a “police renewal notice?” Do you have to pay for police protection?
I just got something from my home and auto insurance. I think my policy renews this or next month. I suppose I should at least open the envelope and check it out. Thanks OP for the post.
__________________
There's a Monster on the loose
|
05-15-2024, 07:13 PM
|
Member
|
|
|
Join Date: Dec 2015
Posts: 2,578
Likes: 890
Liked 4,645 Times in 1,553 Posts
|
|
We pay about $6k a year for two cars.
|
05-15-2024, 07:18 PM
|
SWCA Member
|
|
|
Join Date: Apr 2019
Location: Southern California
Posts: 527
Likes: 1,677
Liked 729 Times in 379 Posts
|
|
Quote:
Originally Posted by DWalt
Very significant inflation item, but I don't think that insurance premiums are included in any inflation indices. Nor are vehicle repair expenses which have also increased rapidly. All-inclusive true inflation increases are far greater than the government-doctored inflation numbers say. We are on the same path as what happened in the Weimar Republic after WWI.
|
“Those that fail to learn from history are doomed to repeat it."
While we haven't seen hyperinflation like the Weimar Republic had (yet), we are suffering from one of their main causes, the excessive money printing to produce all of the economic stimulus programs for the last 15-20 years.
If government projects can't be paid for out of the budget, a government can, and we did, just decide to print more money to pay for them - then we have more money, right?
You just diluted the value of the existing, old, money. That is inflation.
|
The Following 3 Users Like Post:
|
|
05-15-2024, 07:19 PM
|
SWCA Member
|
|
|
Join Date: Apr 2019
Location: Southern California
Posts: 527
Likes: 1,677
Liked 729 Times in 379 Posts
|
|
Quote:
Originally Posted by jeffrefrig
I’m wondering, what is a “police renewal notice?” Do you have to pay for police protection?
|
Auto correct struck again.
|
The Following 2 Users Like Post:
|
|
05-15-2024, 07:21 PM
|
Member
|
|
|
Join Date: Aug 2015
Location: Arkansas Ozarks
Posts: 1,996
Likes: 4,442
Liked 3,785 Times in 1,305 Posts
|
|
Our insurance has went up dramatically here so it is not just where you are. Prices go up coverage decreases. What a racket
|
05-15-2024, 07:28 PM
|
Member
|
|
|
Join Date: Oct 2009
Posts: 3,336
Likes: 22
Liked 5,686 Times in 2,003 Posts
|
|
Yeah, shop around.
My jetski renewal came a month ago. It went from about $260 to over $500. I switched to another company and got better coverage for $160.
A month later my boat policy came up. Bundling it with the 'ski cut my premiums in half.
Just for grins and giggles I looked at an auto policy to bundle with the boats. $1100 for my 2 cars dropped to about $800, again for better coverage. Guess where I'm going when the cars renew?
I just read today that companies that insure in the tornado and hurricane locations are actually canceling coverage to a lot of people. The customers are struggling to get someone to insure them. It seems that for every $1.00 in premiums they were paying out $1.44 in claims.
This is all mother nature at work, not companies screwing the customers.
Now, having to pay $16 for milkshakes and fries at Mickydees is another problem, which we won't talk about here for obvious reasons.
|
05-15-2024, 07:36 PM
|
|
Member
|
|
|
Join Date: Mar 2007
Location: ALBUQUERQUE, NM
Posts: 14,009
Likes: 8,153
Liked 25,635 Times in 8,630 Posts
|
|
Mine has gone up, not as much as some of you guys.
Today I paid $6 for a quarter pounder with cheese.
__________________
NRA LIFE MEMBER
|
05-15-2024, 07:44 PM
|
|
Member
|
|
|
Join Date: Feb 2019
Location: NY
Posts: 3,151
Likes: 2,374
Liked 5,791 Times in 2,085 Posts
|
|
Take an afternoon to call for some quotes. I’m sure you’ll get prices close to or the same as previous policy before increases. I always do. No big deal. Just something you have to do.
|
05-15-2024, 08:05 PM
|
|
SWCA Member
|
|
|
Join Date: Feb 2004
Location: NE IL but I'm from Ohio
Posts: 2,018
Likes: 117
Liked 3,174 Times in 919 Posts
|
|
Mine went up about $600 each, Home and auto. If paid in full for the year it dropped to about $450 each increase. My independent agent did some looking and was able to save me a little over $300 but still an increase. With the new company the home came in slightly more than my old insurance but the auto's were significantly less.
From what I am seeing everyone is getting hit with big increases but at least where I am I can still get a policy. I feel bad for California.
__________________
Sceva
OGCA SWCA NRA
|
05-15-2024, 08:05 PM
|
|
Member
|
|
|
Join Date: Apr 2012
Location: Houston, TX
Posts: 3,871
Likes: 1,693
Liked 6,543 Times in 2,390 Posts
|
|
Quote:
Originally Posted by DWalt
Very significant inflation item, but I don't think that insurance premiums are included in any inflation indices. Nor are vehicle repair expenses which have also increased rapidly. All-inclusive true inflation increases are far greater than the government-doctored inflation numbers say. We are on the same path as what happened in the Weimar Republic after WWI.
|
Insurance and Parts and Maintenance/Repair are in the CPI-U. They are included in "Private Transportation".
CPI-U Insurance
.
Last edited by glenwolde; 05-15-2024 at 08:06 PM.
|
05-15-2024, 08:17 PM
|
|
Member
|
|
|
Join Date: Feb 2005
Location: Lost Wages, NV
Posts: 20,416
Likes: 25,152
Liked 30,017 Times in 11,171 Posts
|
|
My home insurance has jumped about 30%. Maybe it has something to do with trying to claim for the upstairs leak and the hot water slab leak, both of which they rejected.
As for car insurance, I'll copy and paste what I wrote on a car forum.
Quote:
I'm dreading our renewal in August. The slaughter on the Vegas roads this year has got to the point where a week without a reported fatal would be considered a conspiracy of silence by the police and media. If it's not drunks, it's racing, apparently suicidal pedestrians, or speeding motorcycles losing control or just plain running into stuff. As a city full of people from other places, we have every bad driving habit from around the world. This year, it really shows.
|
__________________
Release the Kraken
|
The Following User Likes This Post:
|
|
05-15-2024, 08:29 PM
|
|
Member
|
|
|
Join Date: Nov 2013
Location: Spokane, WA
Posts: 13,682
Likes: 1,237
Liked 18,686 Times in 7,398 Posts
|
|
Quote:
Originally Posted by sjmjax
I’m on a six month policy for auto insurance.
No accidents or claims in decades.
Rate goes up about $100 every renewal.
No fault State.
Agent claims it because of the number of uninsured motorists. (Illegals mostly)
|
I'm in the same boat. Haven't had any accidents that were in any way MY fault in over 40 years. But I get the same song and dance every time our insurance renews and I ask about why the premiums are increasing.
The thing I find most interesting about that explanation is the fact that BY LAW, all drivers are required to carry at least basic liability insurance in order to legally drive a vehicle.
So, those of us who are being responsible, and following the law, and paying for the REQUIRED insurance, are the ones being penalized (and paying MORE every year) for those who choose NOT to obey the law and pay the premiums for the legally-required insurance (a.k.a. the UNINSURED).
Anybody else see a logical disconnect here? Kind of like how we, as law-abiding gun owners, get penalized for the actions of criminals using guns to break the law. Only in this case it is cars not guns.
Forgive me for waxing philosophical about something so mundane as insurance rates, but this seems like a great illustration of the problem of a society that focuses on pursuing EQUITY (participation trophies that ensure everyone gets an equal outcome - no matter what they do or do not contribute) vs. EQUALITY (giving everyone a level playing field on which to compete and pursue excellence).
Makes me think of the Rush song "The Trees"
Maybe it's just me....
__________________
Send lawyers, guns & money...
Last edited by BC38; 05-16-2024 at 12:55 AM.
|
The Following 3 Users Like Post:
|
|
05-15-2024, 08:54 PM
|
|
Member
|
|
|
Join Date: May 2017
Location: Tampa/NC
Posts: 207
Likes: 1,366
Liked 464 Times in 142 Posts
|
|
Insurance is crushing us here in Florida. Luckily ours actually went down ~15% for home coverage. 1949 house 1000 square. ft. $6000
Love Floridia, but there is a high cost for freedom.
|
The Following 3 Users Like Post:
|
|
05-15-2024, 09:52 PM
|
|
Member
|
|
|
Join Date: Dec 2009
Location: South Texas & San Antonio
Posts: 33,932
Likes: 256
Liked 29,598 Times in 14,276 Posts
|
|
And I remember the insurance on our first house about 50 years ago was something like $250 per year. But we paid only about $10K for the house. And it was a fully adequate house on about 1 acre, just old. I just saw a report on TV that said auto repair costs have increased about 23% since 2022. And there is an index for auto repair cost, story didn't say what was included in that index. They did say that much of the increase was due to the greater complexity of newer cars. Son decided a month ago to get his high mileage 2007 Lexus refurbed instead of buying another car. He took it to a local garage and told them to fix everything that needed repaired and replaced, cost him about $3K. Not so bad if it keeps running for another two or three years. Not sure what work was done on it, but no major transmission or engine repairs.
Last edited by DWalt; 05-15-2024 at 10:00 PM.
|
The Following User Likes This Post:
|
|
05-15-2024, 10:14 PM
|
|
Member
|
|
|
Join Date: Jun 2018
Location: West Virginia
Posts: 2,118
Likes: 1,775
Liked 3,068 Times in 1,228 Posts
|
|
I pay monthly. I have auto and rental (with an actual gun collection clause). It jumped $20 3 1/2 years ago when I bought my current car. That climbed another $40 in the past 2 years, and then in January, at the renewal notice, it jumped again. Seems to be locked in now, but 110% more than 3 1/2 years ago.
__________________
Heavily armed old man.
|
05-15-2024, 10:28 PM
|
|
Member
|
|
|
Join Date: Mar 2002
Location: Santo las nubes, Florida
Posts: 9,082
Likes: 9,386
Liked 14,946 Times in 4,770 Posts
|
|
Same here. 2 cars and house went from $2800/yr to a little over $6K in a couple years. I know a couple families that “self insure” and pay no premium of any kind. I’m not that brave. Joe
__________________
Wisdom chases me; I'm faster
|
05-15-2024, 10:40 PM
|
Member
|
|
|
Join Date: Sep 2018
Posts: 6,977
Likes: 13,431
Liked 16,250 Times in 5,118 Posts
|
|
I'm sure they will get us all.
__________________
No baby we aint
|
05-15-2024, 10:41 PM
|
|
Member
|
|
|
Join Date: Dec 2009
Location: South Texas & San Antonio
Posts: 33,932
Likes: 256
Liked 29,598 Times in 14,276 Posts
|
|
Quote:
Originally Posted by pharmer
Same here. 2 cars and house went from $2800/yr to a little over $6K in a couple years. I know a couple families that “self insure” and pay no premium of any kind. I’m not that brave. Joe
|
Many large companies self-insure, up to some limit. Think of it as having a very large deductible.
I once worked for a company that had over a thousand pieces of heavy rolling stock. Most all of it was self-insured, but the company did carry liability coverage.
|
05-15-2024, 10:47 PM
|
|
US Veteran
|
|
|
Join Date: Nov 2008
Location: Colorado
Posts: 7,574
Likes: 19,477
Liked 32,575 Times in 5,523 Posts
|
|
Two vehicles; one 8-year old compact car, the other a 6-year old pickup. Annual insurance ($1000 deductible) on the two is now about double my yearly salary in the US Army when I went to Vietnam. But the Army included transportation, lodging, meals, medical, dental, ammunition, and close air support on call.
Homeowners policy is about double over 10 years ago, but the house has doubled in replacement value over the same period.
Overall, the two of us pay more for insurance premiums than we do for groceries, and about the same we pay for household utilities. It is a big part of the budget.
__________________
Life of the party until 8:00PM
|
05-15-2024, 11:05 PM
|
|
Member
|
|
|
Join Date: May 2003
Location: DUNNELLON, FLORIDA USA
Posts: 11,168
Likes: 1,695
Liked 16,443 Times in 4,282 Posts
|
|
In Florida the insurance rates have doubled.
To renew your Home Owners Policy you have to have a new roof installed.
|
The Following User Likes This Post:
|
|
05-15-2024, 11:09 PM
|
Member
|
|
|
Join Date: Jan 2011
Posts: 898
Likes: 3,703
Liked 5,954 Times in 851 Posts
|
|
If you served, check out USAA as they are truly not for profit.
They may not be the cheapest quote up front, but they have very comprehensive coverage, they're not frugal on claims, and they pay back distributions to the policy holders at the end of the year. I have experienced them both as a customer and as a contractor. They are top notch.
One tip to everyone on homeowner's coverage...audit the replacement cost value for your home. Most companies raise it up every year with an inflation rider. You're actually penalized for staying with the same company year after year because they continue to raise the RCV based on compounding inflation rates.
Most companies have a base value that they can insure your home for and still offer guaranteed replacement cost coverage. Find out what that is and reduce your coverage to that amount.
Premiums will still be higher but it will help.
For those of you who live in FLA, I have no additional advice. Many insurance companies have pulled out of your state due to the amount of claims and cost of repairs. Less competition probably works against the policy holder.
|
The Following 2 Users Like Post:
|
|
05-16-2024, 12:40 AM
|
|
Member
|
|
|
Join Date: May 2004
Location: Wyoming
Posts: 2,189
Likes: 1,175
Liked 5,949 Times in 1,264 Posts
|
|
Insurance is the next big financial bubble. Prices are doubling all over the country and lots of places in high risk areas (wildfires, hurricanes, etc.) are being dropped entirely. The media hasn’t covered this much but the price increases have been huge, and housing markets and transportation are going to to start seeing the effects soon if they haven’t already. Stand by, Folks. It ain’t gonna get any better.
__________________
Everybody could shoot
|
05-16-2024, 12:51 AM
|
|
Member
|
|
|
Join Date: Jul 2010
Location: Florida
Posts: 6,733
Likes: 3,482
Liked 9,458 Times in 3,561 Posts
|
|
Quote:
Originally Posted by jimmyj
In Florida the insurance rates have doubled.
To renew your Home Owners Policy you have to have a new roof installed.
|
Not exactly. But they are declining to insure older roofs even though they are still in good condition. Shingle roofs are being replaced at 10 years. They even want metal roofs--that should last a lifetime--replaced at 20 years.
|
05-16-2024, 01:18 AM
|
Member
|
|
|
Join Date: Feb 2007
Location: East Coast
Posts: 384
Likes: 587
Liked 765 Times in 212 Posts
|
|
Quote:
Originally Posted by NYlakesider
I sure hope not. Both my auto and home (same company) will renew in Sept!
Do you think its due to where you live?
|
Yep, and it's where YOU live as well. The auto insurers in NYS were approved for a huge increase this year by the state insurance board. Got my renewal shock a few months ago.
With all the illegals and inattentive morons driving on the roads, accidents and claims and payouts are way up. Add to that the elaborate electronics and sensors in every new car, and the high cost of the green electrics... what used to be repairable gets totaled quickly.
|
The Following 2 Users Like Post:
|
|
05-16-2024, 01:26 AM
|
Member
|
|
|
Join Date: Nov 2006
Location: Sierra Nevada foothills
Posts: 5,969
Likes: 4
Liked 4,573 Times in 1,753 Posts
|
|
Insurance is a racket and we are the ball.
|
The Following User Likes This Post:
|
|
05-16-2024, 01:55 AM
|
|
Member
|
|
|
Join Date: Feb 2005
Location: Lost Wages, NV
Posts: 20,416
Likes: 25,152
Liked 30,017 Times in 11,171 Posts
|
|
Quote:
Originally Posted by Model 15-4ever
Yep, and it's where YOU live as well.
|
The insurance industry does it by zip code. Henderson zips are way cheaper for car insurance than Vegas zips, but they are all in the Vegas valley. Go figure.
__________________
Release the Kraken
|
05-16-2024, 02:59 AM
|
|
SWCA Member
|
|
|
Join Date: Apr 2008
Location: South Carolina
Posts: 7,321
Likes: 19,415
Liked 11,420 Times in 3,386 Posts
|
|
It hit me too. For an 18 year old 2wd F150, mine increased from $360/6 months to $500/6 months, and that’s without collision. I balked at the increase and said that we were going to have to do something different. Here is the thread I started about that.
Big Brother
I know many here think it’s crazy to let your insurance company follow everything that you do in your car, but I am trying it for 6 months. Why? Because I hardly drive any miles at all. I generously estimated 5000 miles per year. I am using something called “Milewise”, where basically I pay my auto insurance by the mile. Basically, they are checking for hard acceleration's and braking which is a change of 8mph/second, driving over 80 miles per hour, and late night driving which is between 11pm and 4am. I’ve been using it since May 5th, and have had no “bad events”.
You folks will probably find this difficult to believe, but I have driven less than 40 miles in those 10 days. That has been less than normal, but now you may see why I am trying this out. At this rate, my truck insurance will be around $500/year or less, I believe. At the end of the 6 months, I’ll let y’all know the results.
Larry
__________________
Miss Buddies crsides & fat tom
|
05-16-2024, 05:29 AM
|
|
SWCA Member
|
|
|
Join Date: Apr 2005
Location: SE USA
Posts: 2,472
Likes: 4,631
Liked 2,000 Times in 910 Posts
|
|
The wife and I have watched a nice house about half a mil, sell twice and is now empty for sale third time. Taxes, insurances, HOA fee, food and supplies, gas, people losing their jobs as the businesses cut back or go under, water, electricity, cell phones, health insurance, bad health: prices and survival has gone up and up. We check things when they go up. Up and down we go. Have seen children move back in with Mom and Dad, which the grandparents seem to like. Grocery bill blows my mind now. Try to replace an AC Unit in your vehicle. Lots and lots of people out there struggling to get by.
|
The Following User Likes This Post:
|
|
05-16-2024, 06:03 AM
|
|
Member
|
|
|
Join Date: Apr 2006
Posts: 18,011
Likes: 7,999
Liked 26,330 Times in 8,847 Posts
|
|
EVERYTHING has gone up way more than the news is reporting! Insurance, automobiles, housing, food, clothing, tires, etc. etc. IMHO there are bunch of reasons and causes that we are not allowed to discuss here and all we can do to try and change this is to vote in November.
I just purchased a new set of Michelin Tires for my Yukon. I paid exactly double of what I paid 4.5 years ago for basically the same exact tires. When the wife and I walk out of Costco we are amazed that the small shopping cart of food we have vs the ridiculous amount we just spent. Going out to eat at a fine restaurant is now hundreds ($250 - $300 per couple) and that is not a real fancy place! We went out to the Steak House called Chops a while ago and the cost per couple was over $400!! While we had a good time and the food was descent it, we were still in shock at the bill!!
All our insurance premiums have gone up drastically as well and we have had zero claims. Our credit score is well in the mid 800's (that affects what they charge you) and I pay my premium all at once, paperless & online ($400 discount for those two things). Each year I piss and moan and while I think I am being royally ripped off, we actually pay less than many of our friends and neighbors. Tough times we are living in now!!! (not joking)!
|
05-16-2024, 08:38 AM
|
|
Member
|
|
|
Join Date: Feb 2005
Location: On da Bayou Teche
Posts: 18,547
Likes: 18,801
Liked 59,469 Times in 9,750 Posts
|
|
Quote:
Originally Posted by DWalt
I got my insurance bill today, and I was stunned. Both home and auto insurance premiums have doubled over the last two years. Homeowners premium has gone from roughly $1500 to $3000 and two cars (liability and comprehensive only, no collision ) from $2150 to $4020. Same home, same cars, same coverage, no claims since 2001. Is everyone else seeing such massive increases?
|
Well cry me a river. Come to South Louisiana, ground Zero is St. Mary Parish. Property insurance is now sometimes 4 times higher. Insurers won't insure anything with a roof over 5 years old. You have to buy three policies. Wind and hail with a 3% deductible, general casualty (fire) and then flood. It is absolutely crushing the home sales as nobody can afford the monthly insurance which often is more than the mortgage payment. I'm at the point where I am considering going self insured.
__________________
Forum consigliere
Last edited by CAJUNLAWYER; 05-16-2024 at 08:39 AM.
|
The Following 3 Users Like Post:
|
|
05-16-2024, 08:49 AM
|
|
US Veteran
|
|
|
Join Date: Jun 2015
Location: NE FL
Posts: 1,926
Likes: 1,449
Liked 4,089 Times in 1,280 Posts
|
|
Very similar situation to Florida. Ten year old roof? Insurance Companies won’t renew your policy until you replace the roof regardless of condition…..and at your out of pocket cost.Most companies have pulled out of Florida. We, and our kids, are grandfather covered by USAA, but they have pulled out as well.
__________________
"Your other right........."
|
The Following 2 Users Like Post:
|
|
05-16-2024, 09:50 AM
|
Member
|
|
|
Join Date: Aug 2023
Location: The Dells, WI
Posts: 176
Likes: 171
Liked 222 Times in 98 Posts
|
|
Quote:
Originally Posted by Model 15-4ever
Yep, and it's where YOU live as well. The auto insurers in NYS were approved for a huge increase this year by the state insurance board. Got my renewal shock a few months ago.
With all the illegals and inattentive morons driving on the roads, accidents and claims and payouts are way up. Add to that the elaborate electronics and sensors in every new car, and the high cost of the green electrics... what used to be repairable gets totaled quickly.
|
Reminds me of working on lawyers offices in Chicago (Harvey Walner) way back and watching "victims" walking through all day long. Most would come in and leave with a variety of braces/crutches. Others would be thrown out on their ears for wasting the lawyers time. Huge business.
|
05-16-2024, 10:32 AM
|
Member
|
|
|
Join Date: Jan 2019
Location: Vermont
Posts: 2,414
Likes: 927
Liked 6,624 Times in 1,822 Posts
|
|
Hurricane prone areas and the swamps that used to contain the flood water are filled with housing tracts...now what could possibly go wrong with that? We are all paying the price for this.
|
The Following 3 Users Like Post:
|
|
05-16-2024, 10:46 AM
|
|
US Veteran
|
|
|
Join Date: Aug 2006
Location: West Central IL
Posts: 22,519
Likes: 18,866
Liked 22,630 Times in 8,338 Posts
|
|
So far I'm not complaining. I just "shopped" my insurance, and the multi-line broker I consulted (as recommended by a friend that claimed he got his rates cut in half), told me they couldn't come close to the rates I'm already paying. State Farm, customer for 23 years, auto, 2010 Hyundi, and 2017 Buick Enclave, full coverage $500 deductible, $1472 per year, Home owners $302,000 on home $1078 per yr.
Maybe loyalty pays off. I did have one claim on a previous Toyota for $1000 about 8 years ago.
I do know that insurance companies do use your Credit Rating in determining coverage and pricing. Just one of the criteria.
__________________
H Richard
SWCA1967 SWHF244
Last edited by H Richard; 05-20-2024 at 10:27 AM.
|
05-16-2024, 11:16 AM
|
Member
|
|
|
Join Date: Jun 2014
Location: Upper Central Alabama
Posts: 71
Likes: 36
Liked 138 Times in 33 Posts
|
|
IMHO insurance costs are somewhat of a "ouija board" type of thing. We lived in the same house / small town 26+ years. Then we moved to a larger metro area. Although the "new" house is approximately the same size as the "old" house, it's older, and the property tax is higher, but the insurance rate is slightly less. My auto insurance went down some as well. But as others have said, the rates have gone up across the board, and also IMHO, it's a culmination of post-scamdemic material costs, storm damages in recent years, millions of uninsured illegal invaders on the roads, and current democommunist economic policies.
|
The Following User Likes This Post:
|
|
|
|
Posting Rules
|
|
|
|
|