Big insurance increase (State Farm)--anyone else?

[wynand32]

Unfortunately, even at 4%, that’s on top of the 9% we saw last year. Never hear anybody talk about that. It’s time for some deflation!

I'd like to see less inflation, but I certainly don't want to see deflation.

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[wynand32]

Interestingly, the policy on my Mustang and Pilot stayed the same with our most recent statement, while our son's Mazda3 dropped by about $300. We're with Connect by American Family, via Costco, and they've always treated us fairly.

 

[Marketplaza]

I was with nationwide and they increased my premiums by over $100 for my mustang and caravan. They don’t even cover windshields in Kansas and they still increased it. I called USAA and my payment went from 350 a month to 195 a month and it’s better coverage. 500 deductible instead of 1k and comp is 500/1 mil. All at a lower price. They still don’t cover windshields. I miss how it’s run in Florida. If you just have pip they cover your windshield with no deductible.

 

[HoosierDaddy]

Interestingly, the policy on my Mustang and Pilot stayed the same with our most recent statement, while our son's Mazda3 dropped by about $300. We're with Connect by American Family, via Costco, and they've always treated us fairly.

Need to get a quote from them. On USAA for a long time but probably a good idea to shop around.

Obviously, companies change over time, but an old lady with American Family totaled my '95 Formula. I dealt directly with them and it drug out for over a year but they eventually reimbursed me 100% for a brand new replacement '97 after a year plus of "negotiating" with a triple damages for not dealing in good faith about to be levied.

They had offered me the book value for the '95 but it was special order and literally a 1 of 1, so I demanded a replacement '95 and compensation for all the mods. When none was available (with or without mods) anywhere we had a stalemate. So, I ordered an identical '97 and continued the fight with them. And in addition to paying me more than they needed to for the base car, they ended up paying me full retail for mods I had offered to remove for use on the replacement.

 

[ice445]

Mine went up another 200 per year this billing cycle lol. This is getting annoying

 

[Silver Bullitt]

I'd like to see less inflation, but I certainly don't want to see deflation.

Why wouldn’t you like to see any deflation? Cost of food, housing, and energy should all decrease. Prices in these categories are up 15%+ over the last couple years. Under normal circumstances, they would be less than 5% during that period. Yes, I would like to see some deflation.

 

[tomservo92]

I have Allstate and mine went up 7%,

 

[Cory S]

Mine went up another 200 per year this billing cycle lol. This is getting annoying

Yep. No insurance should increase until a claim is made. Someone that has carried the same insurance for 10+ years without a single claim, is obviously a lower risk, and deems a reasonable affordable premium, based on each individuals good standing history.

 

[wynand32]

Why wouldn’t you like to see any deflation? Cost of food, housing, and energy should all decrease. Prices in these categories are up 15%+ over the last couple years. Under normal circumstances, they would be less than 5% during that period. Yes, I would like to see some deflation.

In an optimal, free economy, deflation (i.e., an actual decrease in prices) could be a good thing. In our economy that’s so perverted by government fiscal and monetary policy, it could be devastating.

BTW, what you describe isn’t deflation but just lower inflation. And yes, inflation is a huge problem today, caused by… drum roll… government fiscal and monetary policy.

 

[Silver Bullitt]

In an optimal, free economy, deflation (i.e., an actual decrease in prices) could be a good thing. In our economy that’s so perverted by government fiscal and monetary policy, it could be devastating.

BTW, what you describe isn’t deflation but just lower inflation. And yes, inflation is a huge problem today, caused by… drum roll… government fiscal and monetary policy.

By definition, deflation is a lowering in prices which is exactly what I said. I totally agree that inflation is the result of government fiscal and monetary policy. Money supply increased 50% over a two year period starting with covid. It’s time the money supply returns to pre-covid levels. There is no reason for the elevated prices in housing, food, and energy. Deflation in these areas would not be devastating to our economy.

 

[wynand32]

By definition, deflation is a lowering in prices which is exactly what I said. I totally agree that inflation is the result of government fiscal and monetary policy. Money supply increased 50% over a two year period starting with covid. It’s time the money supply returns to pre-covid levels. There is no reason for the elevated prices in housing, food, and energy. Deflation in these areas would not be devastating to our economy.

I think we're talking about different things. You seem to be talking about a return to levels prior to the extreme rise in inflation. I'm talking about a persistent drop in prices not in reaction to excessive inflation. Both inflation and deflation can be bad things depending on the cause.

I'm also talking about widespread deflation, not the usual decrease in prices due to things like technological advances, improvements in productivity, etc. But now we're getting into the weeds a bit.

I don't think we disagree about anything.

 

[HoosierDaddy]

I don't think we disagree about anything.

First time ever said on the internet!

 

[lugbolt]

Collision coverage is not mandatory, only liability, and liability is relatively cheap. It’s the banks that require collision as part of their lending agreements.

in my area liability coverage is the highest. Comp & collision are cheap in comparison. Liability only on my antique is $238/year. Comp & collision are an extra $71. The ecoboost is similar but a little higher $$$ on both points, liability is the most expensive of the two. By far.

 

[NavyMAChief]

If you store your car in the garage with USAA and don't drive it very much you can do a storage endorsement on your insurance so that it's covered if something happens but you have to call them to reinstate normal coverage if you decide to drive it.
It's a little inconvenient to call but even if you forget they still will cover if something happens at minimum coverage. This has dropped my policy over 60% on my car.
So instead of 612 ever 6 months its 230 every 6 months.

 

[Germansheperd]

My 22 GT500 went down from $758 per year to $649 and my wife’s 22 GT convertible went from $439 per year to $368 per year. We have 250/500K with a $500 deductible.
We were really happy with our insurance decrease this year.
On a side note my beater 04 Camry with liability only dropped to $151 per year.

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