Anyone Else's Insurance Rate Increased? (+30%!)

[compprep]

I have 5 cars, home and boat with SF, for many yrs. My truck just went up about 10%. I do have very high deductible on all policies. $2,000 so that helps on my cost.

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[Lunchabull]

I have Geico, my renewal is 3/4/23 and my policy went up $6 a month.

 

[munizfire]

Huh.
Just went to take a look (I have USAA so they auto-deduct from my account). It went down about 10% ish

 

[txpat3]

Just renewed in January and saw similar increases around 20%. Questioned my insurance provider and they said all their clients were experiencing it due to “the rising cost of labor, material and parts.”

 

[Cobra Jet]

I was just notified 2 weeks ago that my Collector Car Ins. on my 94 Cobra will go up 14% because of a rate increase.

The problem with any Ins. Co. is that we don't have any control over them sporadically jacking rates.

I mean, did anyone think that all the "free money" handed out by many of these Auto Ins. Companies during COVID was really "free"? Some of these Companies gave back 15%-20% to their Customers.

So as an education lesson now you know that money wasn't "free", they're all taking it back now via the jacked rates.

 

[mustangman02232]

Pretty sure the new Mach 1 is like $900 a year, everything I have is through progressive except my workmans comp and I get a small discount with commercial/personal through them

 

[15BluStang]

Mine went up $200 for six months. No tickets or accidents and retired. From what I read car insurance went up for everyone in Central Florida. When you have POS people like Dan Newlin and Morgan and Morgan ripping off insurance companies and their policyholders, your insurance will go up.

 

[Skye]

https://doi.colorado.gov/for-consum...-comparison-reports-auto/homeowners-insurance

Reading others' experiences reminded me of this site.

CO's Division Of Insurance allows one to run comparison reports between companies; I felt this could be a good starting point for anyone shopping around, if not for price, to see who provides coverage.

Reviews at other sites can help give a feel for service (how good/bad) and payouts (if they willingly pay claims or drag it out).

Check with your state to see if they provide like information.

 

[Freedom]

my mustang costs more than my 2022 tesla model 3 and 2022 f150 lightning. Had to drop the mustang down to one way. The cost for this vehicle is ridiculous in insurance. I don't drive it much anymore either too. AAA insurance. It's been going up past couple years, not affecting any other vehicle except the mustang.

 

[Polski]

Someone has to pay for the EV burning down

 

[Stangnut]

Thanks for all the replies everybody. Looks like I'll be shopping around for new insurance. I contacted All State yesterday and they couldn't even get close to my new, higher State Farm rate.

 

[KingKona]

Over the past 6 months my 2019 Bullitt insurance has gone up 30%! I'm with State Farm and I'm a 51 yo male. I stopped by the office and they said the classification had changed because of the price of parts. I can understand a slight increase due to inflation, but 30% seems like a lot. Any one else have this much of an increase?

We've had around 15% inflation in the last few years. Add in that cars that should have been fixed have been being totaled, and the insurance companies are having to pay out the wazoo, so your rates are going up.

 

[young at heart]

More instructive to me than whether insurance is going up, down or sideways is the fact that there seems to be a trend toward expressing insurance premiums in monthly terms. I’m not sure what to say about that.

Actually I am, but it’s probably a zero sum game to head down that rabbit hole.

 

[monte87]

Mine went up as well/ No tickets, no accidents, nothing... Good ole NY SHITTY, mine went up from $1700 per year full collision to $2G's......... Travelers. sucks balls

 

[Polski]

Mine went up as well/ No tickets, no accidents, nothing... Good ole NY SHITTY, mine went up from $1700 per year full collision to $2G's......... Travelers. sucks balls

Don't know about auto, but if you have home insurance with travelers - please do yourself a favor and switch to someone else. I had water damage in my house. Basically half of the house was gone (kitchen, finished basement, whole living are and master bathroom, dinning section etc.) Repairs were 120k, travelers paid 57k... And the first check was 54, after complaining - they gave us extra 3k...

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