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

[gameovergt]

USAA just bumped my entire policy 10% today (just renewed). (and it's not a mustang just a regular car with liability/uninsured/underinsured/medpay) I think the insurance increase is across the board.

I priced out some other insurance companies, and they are all within like 15 dollars of my current renewal, so not switching to break up my multi policy discounts.

USAA got me also.

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[The Demon]

My renewal is coming up in July.

I emailed my guy at Allstate and he told me that increases in CA require that the Department of Insurance Commissioner approve each rate increase and they are usually capped at an average of 7%.

Holy shit! One good thing about California. I'm still leaving.

 

[15GTPPinCO]

Mine **doubled** when I moved from Denver, CO to Escanaba, MI, and then of course right after I move, I have an accident, preventing me from changing for a little while.

 

[PIsenhour]

I'm in NC and mine increased about 12% or about $44 for 6 months which is odd considering that vehicles depreciate.

 

[TopJimmyCooks]

While everyone is reviewing their insurance policy, I'd say that it is a good time to make sure you have enough coverage. I was run down in a crosswalk (by, of all things, a Mustang) 7 weeks ago. Broken spine so now I've got screws and rods in my back. Gotta go back in Jan to get them taken out. Everything will be covered by his insurance, so no issue there. Luckily he has good insurance. But when I saw the bills coming in, it made me go review my own policy. I haven't increased my coverage in years (probably picked them in 1986 and haven't changed them since). It still has like $100k per person for personal injury. If the tables were turned and I was the driver, my auto policy would be woefully insufficient to cover him. These bills will be waaayyyyy more than that when it is all said and done.

Saving money on insurance is important...but protect yourself. Y'all are Mustang drivers, after all (I couldn't help it, I'm sorry. You can block me)

 

[Evolvd]

I have progressive and my rates have been relatively flat year to year.

 

[Jaymar]

While everyone is reviewing their insurance policy, I'd say that it is a good time to make sure you have enough coverage. I was run down in a crosswalk (by, of all things, a Mustang) 7 weeks ago. Broken spine so now I've got screws and rods in my back. Gotta go back in Jan to get them taken out. Everything will be covered by his insurance, so no issue there. Luckily he has good insurance. But when I saw the bills coming in, it made me go review my own policy. I haven't increased my coverage in years (probably picked them in 1986 and haven't changed them since). It still has like $100k per person for personal injury. If the tables were turned and I was the driver, my auto policy would be woefully insufficient to cover him. These bills will be waaayyyyy more than that when it is all said and done.

Saving money on insurance is important...but protect yourself. Y'all are Mustang drivers, after all (I couldn't help it, I'm sorry. You can block me)

This is very true. Nobody thinks it'll happen to them but it happens to somebody. My hospital bills weren't completely covered by the combination of my insurance and the driver that hit me. It can get sticky very quickly and anything below $100K coverage can evaporate with just one party being hurt. Check your coverage, we aren't 18 year olds driving $2000 shitboxes anymore.

 

[skinnyb]

Mine went up on my last renewal back in February quite a bit. I looked carefully and they showed the yearly mileage for both my daily driver and my Mustang both at 42K miles a year. I called them up and said, I've had my Mustang 7 months and it has 6,000 miles on it, my daily driver that is accurate, maybe even more I had to send a picture of the odometer and sign a document estimating my yearly mileage (10K) and they dropped it down lower than it was. Hoping it stays that way..

 

[2016S550]

I carry 250/500k for Liability Bodily Injury, but whatever you do make sure you have the Uninsured Coverage as much. There are tons of people out there with the minimum 25k coverage.

On a side note my insurance company tried to increase my rates 65% for absolutely NO REASON. No crashes or tickets. I informed them that I would not be renewing and no longer needed their services after I found the same coverage elsewhere. They lost my homeowners and umbrella policy as well. I’m used to the boilerplate bla bla bla reasons like that cars been stolen more, parts are more now, your zip code is showing more x y z but they had nothing to say that justified a 65% increase. My agent tried to tell me that they would do a “courtesy” assessment since it increased more than 50%, as in if it was less than 50% they would not do anything. What kind of business is that??? No more agent, now I just deal with the Company directly.

 

[Nitrousfedlx]

You all didn't think with inflation at an all time high across the board that insurance companies wouldn't get their piece of the pie did y'all?

 

[2016S550]

You all didn't think with inflation at an all time high across the board that insurance companies wouldn't get their piece of the pie did y'all?

No doubt, I expected 8-12% but when it went up 65% I had to call bullsxxx

 

[Nitrousfedlx]

No doubt, I expected 8-12% but when it went up 65% I had to call bullsxxx

Wanna know the real kick in the balls? My mortgage just went up $300 a month because of my property tax. This is of course along with insurance increase also.

 

[wazslow]

Find an independent insurance broker. They shop your policy each renewal and make sure your getting the best rates. If another company is cheaper, they take care of switching everything for you. They get a cut from the insurance company, you pay nothing. I saved a ton once I went this route.

 

[2016S550]

Find an independent insurance broker. They shop your policy each renewal and make sure your getting the best rates. If another company is cheaper, they take care of switching everything for you. They get a cut from the insurance company, you pay nothing. I saved a ton once I went this route.

Well, my “agent” was an independent broker and unless my rate went up
more than 50% they would not research cheaper rates. I had to ask two times if I understood correctly. I had 10 days before my policy was to renew and had to wait for them to call me back. Before they returned the call I had already called another company and purchased my own policies with no agent or broker. I was very very surprised.

 

[2016S550]

Wanna know the real kick in the balls? My mortgage just went up $300 a month because of my property tax. This is of course along with insurance increase also.

Yea, seems like the more you try and better your life by working hard they are all circling like vultures to get their cut. Between insurances and taxes (auto personal property, income, sales,
mortgage) we are all getting killed. I hope it never happens but if widowed I am going to find a way to minimize my contribution to the government and insurance companies as much as possible.

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