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

[kz]

I’m going to start an insurance company and only charge $100.00 for coverage on vehicles.

I’d be making BILLIONS, I’d strip any existing Ins. Co. of their customer base and still be able to do payouts for loss claims and or damage claims.

What's stopping you ? Sounds like a great plan.

The Ins. Industry is nothing more than a pyramid scheme. Think about how many YEARS we all have “paid in” without a single claim. What could you have done with all that money??? Those

It's an industry - it needs to make money and sustain all the people working in it. And if it can bring more money, why not tried to do so ?
It's capitalism, system that everybody says it's absolutely the best until you realize that it only works for corporations.

But on topic - insurance companies keep dropping people that have multiple claims, you can't insure Kias and Hyundais in some places, all that is happening. What you're paying for is someone 16th yacht, not someone elses rebuilt home.

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[Wingnutzz]

Just received my State Farm renewal. It went up just over $100 for six months full coverage here in Colorado. $1000 deductible collision and comprehensive. The charge that really gets me is for Uninsured Motorists! The charge is more than my liability coverage! Ridiculous. The law requires everyone carry insurance, but us law-abiding citizens have to pay extra for these a-holes who drive without insurance! Ridiculous!!!

 

[DougS550]

Just received my State Farm renewal. It went up just over $100 for six months full coverage here in Colorado. $1000 deductible collision and comprehensive. The charge that really gets me is for Uninsured Motorists! The charge is more than my liability coverage! Ridiculous. The law requires everyone carry insurance, but us law-abiding citizens have to pay extra for these a-holes who drive without insurance! Ridiculous!!!

Just a few Corporations now own insurance company's and can price fix without getting in trouble. The US economy has cratered in the last 3 years and getting worse. Go Figure.

 

[Cheatham]

Mine went waaay up too, I went to Hagerty since it’s not a daily use vehicle, cost is 95sh per month and when I add my supercharger kit I’ll let them know and the price will go up about 5 dollars per month.

 

[RazzaRossa]

I do the same as Cheatham, cost me $79/mnth thru Hagerty. Valued @ 45K. Not a daily driver though.

 

[Silver Bullitt]

You guys switching to Hagerty might want to read up on them. I always considered them to be legit, but I recently got a quote on my Mustang from them and started doing a little research and they are notorious for denying claims. It changed my mind completely. Sometimes, “you get what you pay for” are definitely words of wisdom.

 

[ice445]

Just received my State Farm renewal. It went up just over $100 for six months full coverage here in Colorado. $1000 deductible collision and comprehensive. The charge that really gets me is for Uninsured Motorists! The charge is more than my liability coverage! Ridiculous. The law requires everyone carry insurance, but us law-abiding citizens have to pay extra for these a-holes who drive without insurance! Ridiculous!!!

Sadly it's only going to get worse until the border situation gets figured out. Seemingly infinite people driving without insurance now, and the law couldn't care less about punishing anyone.

 

[DougS550]

Sadly it's only going to get worse until the border situation gets figured out. Seemingly infinite people driving without insurance now, and the law couldn't care less about punishing anyone.

So Very True

 

[robvas]

Switched from progresssive (went up almost 50% the last year and a half) liberty mutual priced me at what I was paying two years ago. Saved me 30% on the house too

 

[ice445]

Switched from progresssive (went up almost 50% the last year and a half) liberty mutual priced me at what I was paying two years ago. Saved me 30% on the house too

I did the same with State Farm this year, I saved literally hundreds over the year compared to Allstate which I was with for 3 or 4 years.

Of course, I have no illusions that this isn't just temporary. State Farm will slowly raise their rates too with time...

 

[pctek]

I have AAA. They took an almost a 50% price increase for my 2016 coverage. How do they get these huge increases by the California Department of Insurance? AAA told me I could cut back on my coverage if I wanted to lower my premium.

 

[BlkMach10510]

I have progressive and just looked at AAA, it would go from about $3000 a year to $7400 a year.

 

[Silver Bullitt]

Yeah, but inflation is only 3.1%.

 

[Cordero1]

Yeah, but inflation is only 3.1%.

It's hilarious that you actually believe this.

 

[skinnyb]

Mine jumped quite a bit last year but I looked and they showed me driving my Mustang 34K miles, same as my daily driver. I called them up and said it barely has 5k on it. I had to prove it to them that my daily was indeed that much but my Mustang was way less. I confirmed I only drive maybe 10k a year and they lowered it back down to almost what it was. Mine renews in February, I am waiting for the sticker shock this coming year. I got a couple quotes already just for giggles at a few other insurance companies and they all quoted me double what I pay now.

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