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

[MAGS1]

Inflation and increased losses are are always key factors in causing everyone's premiums to increase.

[/QUOTE]
What is this list based on exactly? And who did the ranking? Is it fact or opinion based? Not saying I disagree with some of the names on the list as a general opinion of the companies, just curious where it came from

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[DougS550]

What is this list based on exactly? And who did the ranking? Is it fact or opinion based? Not saying I disagree with some of the names on the list as a general opinion of the companies, just curious where it came from
[/QUOTE]

What is this list based on exactly? And who did the ranking? Is it fact or opinion based? Not saying I disagree with some of the names on the list as a general opinion of the companies, just curious where it came from
[/QUOTE]
Before I switch and buy new Auto Insurance (to get a lower premium) I try to research the company's (online).
- Their are company's I always stay away from and those are company's when I do online research consistently show to have the worst claim denial which means if you ever have to file a claim their is a greater possibility they will deny or fight with you on those claims at every given chance.
- I try to omit those company's through online research, show to have a high rate of "Bate and Switch". Company's who give "Low Ball" premium quotes to get people to switch from their insurance company to theirs, But then after a short while will start raising their rates to where just after a short time the customers are now paying higher rates then you were paying previously with their old Insurance Company .
A high percentage of Insurance company's (I have used) are leaches, blood suckers who are profit oriented company's only, Zero Customer oriented. They are scavengers to say the least. They have the same reputation as Car salesman or Attorneys. So before I switch I check many factors like how is their claims approval or denial ratings. Do they conduct their business with a high Bate and Switch practice. Are they accessible local for me to call and discuss issues with.

https://www.coloradolaw.net/insurance-industry-10-worst-deny-claims/

 

[Joshinator99]

Stop using large insurance companies. Find a local regional one that doesn’t blow millions on marketing or stupid things like DEI. Your rates will be lower and the service better.

 

[CrazyHippie]

Insurance is an illogical bet - truly mandated gambling.
- The insurance company's bet is that you won't wreck your car.
- You're betting that you do, and then do your best to protect the insurance company's wager.

Insurance creates a bottomless pool of cash that supports otherwise unsustainable over-pricing of goods and services. Health insurance is the best example.

Insurance should at the very least be legislatively required to be non-profit. That's at least a start.

 

[thunderstrike]

Mine went up $8 for three vehicles.

 

[The Demon]

Mine went up $8 for three vehicles.

Exactly. Mine went up $36 for three vehicles. One BMW and two Mustangs. Know your adjuster and work with them.. Things can work out for the better.

 

[eNsaneDRK]

I Dropped them over a year ago for steady increases over the years, I was with them since high school... 2 sport cars, Truck, SUV, Boat, Personal Watercraft and Home was costing me over 5200k/yr, never had an accident or ticket in over 18 years, went to a local company exact same coverage/deductible's and now I'm at 2100. When they asked me how much I saved on the switch they said it was the most they had saved a person all year and it was December. I feel stupid for not switching years ago, F*ck State Farm a bunch of crooks IMO.

Sadly if a buddy of mine wouldn't of bought a Corvette I would probably still be with them, but once I he told me what we was paying I switched within an afternoon.

 

[308 Cal. Bullitt]

I explained exactly why in a post a few days ago, that a Moderator
( who follows me around & deletes my stuff)
took down, except for cherry picking a few sentences to make it look like it was my entire post. :Cowards:

They didn't remove my 400 word explanation because our explanation of why rates are climbing was false, but because it was true. People who cannot allow the truth are Cowards.

& if what I said was so bad (which it wasn't), than why am I not banned... ohh yeah, because I told the truth about why all our insurance is practically doubling in last 3yrs now.

I have 1 Moderator who follows me around, & either removes my posts, or does his best to rebutt them & try to make it look like only he understands reality.

When everyone is ready for the truth, I can post it again, but it will be taken diwn in minutes. By the cowards tgat think its there job to suppress the truth about why we are seeing insurance go thru the roof in the last few yrs.

& its probably what you think..

 

[MAGS1]

I explained exactly why in a post a few days ago, that a Moderator
( who follows me around & deletes my stuff)
took down, except for cherry picking a few sentences to make it look like it was my entire post. :Cowards:

They didn't remove my 400 word explanation because our explanation of why rates are climbing was false, but because it was true. People who cannot allow the truth are Cowards.

& if what I said was so bad (which it wasn't), than why am I not banned... ohh yeah, because I told the truth about why all our insurance is practically doubling in last 3yrs now.

I have 1 Moderator who follows me around, & either removes my posts, or does his best to rebutt them & try to make it look like only he understands reality.

When everyone is ready for the truth, I can post it again, but it will be taken diwn in minutes. By the cowards tgat think its there job to suppress the truth about why we are seeing insurance go thru the roof in the last few yrs.

& its probably what you think..

I have no idea what you posted and what got taken down, but it’s their site they can regulate it how they please. If you’re bringing politics into it, that will get taken down. They’re pretty clear about no politics. If it were me, I’d just move on to a different topic.

 

[compprep]

Sold my 2020 Ridgeline earlier this year. Got quote for a new 2024 Audi S5, even sent the VIN. Got car about 6 week later due to back/forth on price, delay getting from the out of state dealer that had it etc.

See these emails for my agent in italics.

on 1/9/24. Six month premium for this Audi is $458.19.

   Bill just came. Two months later $510.36. 11.4% HIGHER!! WOW! I know things are going up, but......

His reply a minutes ago.

The policy for the Audi renews in August and February. So the $458.19 was the premium for the August 2023-February 2024 term.

There was a rate increase effective 11/27/23. (GUESSING the 11.4%) They can’t change your rate during the term, they have to wait until the renewal. So now the February renewal is seeing that rate increase.

All insurance companies in NY are taking rate. The next rate increase is effective 4/29/24 and is 25%. Based on your renewal dates that rate increase will show in your premiums:

24 Audi – August
19 Mustang – September
13 Subaru – October
The 86 Mustang is comp only and is only around $20 so $ increase is very small.

Companies are losing hundreds of millions of dollars in NY on auto insurance. In 2022 State Farm lost $887 million here. We don’t like it either but rate increases are necessary because no business can sustain that kind of loss long term. I can’t do anything about the large increase that’s coming next month, but I am trying to at least warn people to let them know it’s coming.

Guess I'll need to start shopping. Have 5 cars (74 MGB GT NOT even insured!), house and a boat, all with them for 30+ yrs.
I have high deductibles too.

 

[CrazyHippie]

I've had auto coverage through State Farm for many years (20-ish) and usually been satisfied with their auto rates. But they just increased the premium on my '18 Mustang GT by 27% out of the blue. I haven't had any auto claims, tickets, or accidents recently. The only explanation is a cryptic note that about a "change in vehicle rating/group."

Insurance is so specific by state and even city, this may not be affecting owners in other locations--but if any of you have State Farm (especially in Texas) have you seen a big increase?

I also used State Farm for decades. About 5 years ago they changed for the worse so I dropped them. Sadly, today's State Farm is just another predatory insurance company. Shop around and switch companies every few years to keep your rates lower.

 

[2morrow]

Yup! It's ridiculous.

 

[ArgentumS550]

My AmFam has gone up ~$230 in a year. I lowered it the last payment time by raising the deductible on one section from $500 to $1k. Should have done that from the beginning, but oh well. Now it's back above what I'd have paid 6 months ago! I've been with this agent for 33 years...one of his first clients, in fact. I have a bundle with home insurance and he has "tweaked" my policy, but this is not sustainable. No recent accidents (1994 - small), claims (2008 - roof claim due to hail), and credit is excellent. Not his fault, but I am going to look at other options.

 

[DougS550]

Sold my 2020 Ridgeline earlier this year. Got quote for a new 2024 Audi S5, even sent the VIN. Got car about 6 week later due to back/forth on price, delay getting from the out of state dealer that had it etc.

See these emails for my agent in italics.

on 1/9/24. Six month premium for this Audi is $458.19.

   Bill just came. Two months later $510.36. 11.4% HIGHER!! WOW! I know things are going up, but......

His reply a minutes ago.

The policy for the Audi renews in August and February. So the $458.19 was the premium for the August 2023-February 2024 term.

There was a rate increase effective 11/27/23. (GUESSING the 11.4%) They can’t change your rate during the term, they have to wait until the renewal. So now the February renewal is seeing that rate increase.

All insurance companies in NY are taking rate. The next rate increase is effective 4/29/24 and is 25%. Based on your renewal dates that rate increase will show in your premiums:

24 Audi – August
19 Mustang – September
13 Subaru – October
The 86 Mustang is comp only and is only around $20 so $ increase is very small.

Companies are losing hundreds of millions of dollars in NY on auto insurance. In 2022 State Farm lost $887 million here. We don’t like it either but rate increases are necessary because no business can sustain that kind of loss long term. I can’t do anything about the large increase that’s coming next month, but I am trying to at least warn people to let them know it’s coming.

Guess I'll need to start shopping. Have 5 cars (74 MGB GT NOT even insured!), house and a boat, all with them for 30+ yrs.
I have high deductibles too.

Sadly, Mega Corporations were allowed to buy up all of the insurance company's and thus no competition and they can charge what ever price they want. The common trait is to get people to switch from one of the other few Company's and then start raising their premiums in 6 months. They are a fraud/leach on our society. They have great excuses why they raised your rates but when you check their quarterly and annual earnings reports, they are making billions. It has become cheaper for a high percentage of car owners just not buy insurance and roll the dice. This to have money for food for their family's and keep a roof over their head. Sad this was allow to happen.

 

[MrBD1348]

Just dropped Allstate last month due to an increase. Bought my car in January 22 and was paying ~$94. Renewal came in Feb 24 and it was almost ~$160 for the same car. No accidents and my commute has since dropped to 6 miles one way from 33 one way. So I got rid of them.

Called Progressive - got a much better coverage (higher limits) and on top of that I have $5000 worth of aftermarket mod coverage. Now paying $104 as a 34 yr old male. I’m fine with that.

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