Why does Insurance keep going up?

[law242]

When I originally purchased my Mustang I was paying $114 a month. Now every 6 months it keeps gradually going up, and now next month I will be paying $153! Now I get that cost to fix these cars makes the average price of Insurance go up, but it just doesn't make sense why every 6 months it has to go up. Its frustrating, rant over.

Sponsored

 

[Rc18]

When I originally purchased my Mustang I was paying $114 a month. Now every 6 months it keeps gradually going up, and now next month I will be paying $153! Now I get that cost to fix these cars makes the average price of Insurance go up, but it just doesn't make sense why every 6 months it has to go up. Its frustrating, rant over.

Shop your coverage around bro. After trumps cut and crap. I looked and after only a few hrs shopping around. I got it switched and overall my policies saved about 35% for in some areas better levels of coverage. From state farm to amfam

 

[poncho@home]

How is your driving record?
Maybe you live in a high car theft area?
Do you have any claims?

 

[law242]

I will have to look thanks

 

[Austinj427]

It's going up nationally.

Distracted drivers, more lawsuits, large weather events and more expensive to repair vehicles are not helping the premiums we are paying.

I've heard a few different numbers, one company said rates are going to increase until 2019 on a national level, another said 2025.

 

[law242]

Perfect driving record, no accidents, no tickets

 

[thehunterooo]

I'm in the same boat at around the same prices now. All the other companies are under $100 (85-90ish) though so I am going to change just a pain to change in FL....

 

[xDUMPWEEDx]

Idiots keep crashing their Mustangs, thereby making yours higher risk.

 

[BailoutBowtie]

I agree with OP, It appears that Car Insurance should be cheaper with all the nannies we have on our vehicles these days, My progressive Insurance quote appears to be going up about 20-40 per 6 months for the past 18 mos. My Vehicles are paid off, I have no tickets, accidents etc... I understand to some reasoning of price adjustments but if this continues, How is it an effective business model when paychecks are stagnant or little growth. I feel like the cost of insurance is going to cost more then the car payment.

 

[law242]

The worst part about it is that it is all grey area. All the insurance company has to say is that the cost to repair your vehicle has gone up, or that your vehicle is at risk. They essentially can say anything to justify the price increase, when there is not factual proof they would be willing to provide. Its sad its not regulated more.

 

[johnson.ba]

this is anecdotal but my 6 month geico policy went down $6.

Also, my 1 yr. homeowners insurance went down $70 even though I made a $5500 claim against it...

I live in southern AZ.

 

[Allegro]

You're not just paying based on your driving and accident record. You're also paying for the idiots who drive like the guy in the video above. Lawyers are also getting huge accident injury settlements for their clients. You don't have to have much of an injury to get $50K where I live.

 

[Lonmon]

I was in the same boat as the OP. My insurance was around $700 for 6 mths (State farm) when I first got my mustang in 15 and went up each 6 mths. When I switched to the 18 they said it was going to go up to about a grand for 6 mths. That's when I had enough and started calling around. Ended up with Geico at about $750 for 6 mths with better coverage.

 

[BailoutBowtie]

You're not just paying based on your driving and accident record. You're also paying for the idiots who drive like the guy in the video above. Lawyers are also getting huge accident injury settlements for their clients. You don't have to have much of any injury to get $50K where I live.

Yeah, I get it, but why not put those drivers in an at risk pool that doesn't affect everyone, I mean if i have to pay for that idiot in the video above and prices continue to rise then eventually we are all stuck with 1000 dollar monthly payments.

 

[xDUMPWEEDx]

I mean if i have to pay for that idiot in the video above and prices continue to rise then eventually we are all stuck with 1000 dollar monthly payments.

Sponsored