Weird Insurance situation - if anyone can exp

[lenFeb]

Received renewal for my six months car insurance policy with Geico for three cars. The new policy increased for two thousand dollars .
I don't have any violations or tickets. I've been hit by commercial track riding my bicycle resulting of dislocated and broken shoulder two months ago. This is no-fault accident and medical bills will be reimbursed by other party insurance company. NJ law is required to go against auto insurance for any accident involve motor vehicle regardless if you driver or not. So, in ER I gave them my Geico auto insurance. For this Geico(or any other insurance company) should not increase my policy premium. When I went over my policy with the agent, he said that I have discount for being a good driver. But no reasonable explanation for premium increase. I asked to speak with supervisor. I've been on the phone with him for over 15 min and never got reasonable explanation either. All he was repeating it is because my driving history. When I asked what is that history about, he failed to explain. My suspicion is that maybe insurance companies can somehow monitor through modem or Ford Connect app that I have on my phone connected to my 2019 GT350? I'm driving this car, modestly said, very spirited on the streets as probably many of us do. Do any of you guys know anything about this insurance activities if so? Interested to read your comments/thoughts.

Sponsored

 

[Frank.Herbst]

Not sure what's going on but are you thinking about shopping around? I have one company for the cars and truck, and a specialty company for the Shelby.

 

[lenFeb]

Not sure what's going on but are you thinking about shopping around? I have one company for the cars and truck, and a specialty company for the Shelby.

Yes, of course I'll be switching the insurance company. It's just weird that they increase my premium without any reason.

 

[matthewr87]

I had a similar unexplained increase at my last renewal, albeit with another company. In Maryland they are required to send you a notice explaining why your insurance goes up, and on mine it just said "reclassification due to vehicle endorsement activity". When I called them they could not explain what that meant. I started shopping around for quotes with other companies, but it was going to be a pain in the ass switching over my home and umbrella as well. On a whim I filled out a new quote with the same company online and my premiums were 30% lower than my previous rate before the crazy increase...go figure. Might be worth a shot for you as well. Insurance is just a giant scam.

 

[Tomster]

USAA didn't honor my quote because it timed out. I had to pay a bit more, but nothing crazy. You need to shop around. However Jersey is one of those states, so you won't know if you have been singled out until you shop around.

 

[williamwally]

When's the last time you shopped insurance? It is a known policy that insurance companies hike premiums on people who don't shop around.

 

[Cobra Jet]

So in NJ here....

Don’t EVER believe ANY Insurance Company when you make a no fault claim that “your insurance won’t go up”... it WILL.

Case in point, in 2014, I had a 2011 Genesis Coupe. Driving home through a heavily wooded area, a deer ran out from the woods on passenger side and plowed into the rear 1/4 of my car demolishing the rear 1/4 and rolled down that entire side of the car, wrinkling the door skin and dented the front fender. The force was so hard at the rear 1/4, that the interior panel plastic on that side also cracked. I made the claim with my Ins. co., they insisted my rates would not be affected since it was not an accident with another vehicle or property. The damages to repair was almost $8k. Ins. paid for the repairs, I inquired multiple times - was assured “no rates won’t be impacted”. Well, come time for the annual renewal, guess what - yea, my premium did go up...

In NJ if you have had ANY moving violations OR accidents, not only do you get DMV points, but also “insurance points”.

DMV points roll of one year with no violations or suspensions and can result in 3 points being reduced. The year begins on date of violation or most recent license restoration.

Insurance points from a moving violation or accident does not roll off until 3 YEARS after the anniversary date of the event.

So even if you don’t have any current DMV points, if you had any moving violations or accidents that created an Insurance point event 3 years ago... well, that is how your premium can be affected.

Automotive Insurance Companies may not always be up to date with their clients DMV history so it’s possible they are playing catch up OR recently ran random DMV driver extracts and you’re one of the lucky ones...

I would do as others have said and shop around.


Oh yea, Auto Insurance Premium increases can also be dicked with if:
1) There is a driver in the same household that is a risk, even if they are not on your policy or will never be the primary driver of your vehicle. That risk is: new 16-17yr old driver or another driver in household that has had prior accidents or moving violations.

2) If your spouse is on the policy and he/she has a moving violation or accident.

3) Insurance Company does a reassessment of the geographic region and determines where you are located is now a greater risk for crime or potential loss due to natural weather events.

4) Changes in credit (many Ins Co. run credit reports), married or not, multi-vehicle policy OR you’re on a multi-tier umbrella policy with home, life Ins. etc.


My guess is - your rates are being jacked due to your noted claim and some sort of reassessment that the Ins. Co. does not want to fully reveal to you.

Also remember too:
Everyone was happy with their 15%+ Auto Ins. refunds due to COVID19, but everyone better be damn well aware, those Companies are going to get that money back somehow...

 

[526 HRSE]

Geico did me a solid when i got my car. My premium for my family actually went DOWN when i added my 350. Initially it was going to add about $1200 (6months) because the policy gears towards the highest risk driver in the house. In my case, a 20 year old male. Geico agent recommended that i drop my son from my policy and open a separate one for his car. He's still allowed to drive my cars, i'm just not allowed to drive his. Instead of going up $2400 a year EXTRA, the entire thing, with the second policy, actually dropped a couple hundred for the year. Buying my 350 actually saved me money on my insurance. lol

 

[lonegunman]

They are basically crooks. I'd shop around for some crooks who steal less. If you got one of those spyware gadgets that reports on your driving or otherwise linked anything associated with your phone or car to anything from the insurance company,they are probably monitoring you.

I have State Farm, no accidents for 20 years and no issues. They always offer spyware or bots to spy on my driving so I can "save" money. I always decline. No good can ever come from unwanted people, companies or Chinese government officials monitoring your driving habits or travel.

 

[ice445]

They are basically crooks. I'd shop around for some crooks who steal less. If you got one of those spyware gadgets that reports on your driving or otherwise linked anything associated with your phone or car to anything from the insurance company,they are probably monitoring you.

I have State Farm, no accidents for 20 years and no issues. They always offer spyware or bots to spy on my driving so I can "save" money. I always decline. No good can ever come from unwanted people, companies or Chinese government officials monitoring your driving habits or travel.

The problem is that Ford is doing that now, automatically. Ford knows how many times I've hit 120MPH and exactly where at I'm sure, lol. They don't share it with insurance companies yet, but I wonder for how long.

 

[460Fred]

The problem is that Ford is doing that now, automatically. Ford knows how many times I've hit 120MPH and exactly where at I'm sure, lol. They don't share it with insurance companies yet, but I wonder for how long.

Please explain. Is this a Ford Pass thing? Can we opt out after we signed up? You know, deactivate.
I never connected to the WiFi thing because I don’t want to ever use it.

 

[460Fred]

Please don’t take this wrong OP...Why would you give your auto insurance information to the hospital when you were hit riding your bicycle?

 

[Tank]

Hey @lenFeb , there’s an insurance expert/insider who gives solid info on another forum. If you want, I could post your OP there and see what he might say.

 

[lenFeb]

Please don’t take this wrong OP...Why would you give your auto insurance information to the hospital when you were hit riding your bicycle?

I explain in my initial post. NJ law is required to go against auto insurance for any accident involve motor vehicle regardless if you driver or not. I have personal medical insurance but in ER hospital employee asked me for my auto car insurance. This was no-fault accident on my side. So, my insurance will be reimbursed from the other party insurance. This how it works here in NJ.

 

[lenFeb]

Hey @lenFeb , there’s an insurance expert/insider who gives solid info on another forum. If you want, I could post your OP there and see what he might say.

Yes, sure. Please do this. Thanks!

Sponsored