My insurance went up

[Banned]

Nah, I was scared of saying something offensive. lol

Okay, now that's funny.

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[RubiNewbCB]

Is that across different policies or you renewing your policy every two months?

Every 6 months. But I saw increases prior to renewal. Mostly due to Virginia Uninsured policy. We have 5 vehicles and clean records.

 

[RubiNewbCB]

Hey they (usaa) gotta pay Gronk some money ? ?

 

[Jefe1018]

I hate it, but ultimately there isn't a lot to do until the inflationary pressure drops (and who knows if it ever does...) my .02 worth .01.

Even if it does go down, premiums will never go down. Once you realize people will pay you $8 for a hamburger instead of the $4 you charged last week, you’d be a fool to charge $4 again.

The fundamental problem with insurance in general is that it isn’t a public service, every carrier is a business. They bet you won’t have a claim and you bet you might. They’re not in it to be safe hands, a good neighbor, or a lizard… they have share holders and are there to make money off of a promise of “covering you”. Most insurance companies will make 100x in profits over that one time your vehicle is totaled.

That’s capitalism and that’s okay… but don’t cry about being hit so hard when billions in profits, not revenue, profits are reported while the average person is making at best 70 cents on the dollar vs just a few years ago.

 

[Wheelin98TJ]

We own an insurance agency...

This is a daily conversation with our customers...many many many times a day.

The insurance industry is getting hammered by the cost of materials and labor, i.e. we are the second highest inflation impacted commodity currently (health care is #1). Carriers cannot just pay more and more and more on claims without passing that on to end users unfortunately. None would stay in business. It's every single carrier. Every one. I hate it, but ultimately there isn't a lot to do until the inflationary pressure drops (and who knows if it ever does...) my .02 worth .01.

Do you do business in Michigan?

I’m in Michigan like the OP and I’ve been getting hit with MCCA and other recoupments and assessments that were $145/6 months on my last 6 month renewal. The bold items at the bottom of the pic below.

 

[SCLaunch]

Do you do business in Michigan?

I’m in Michigan like the OP and I’ve been getting hit with MCCA and other recoupments and assessments that were $145/6 months on my last 6 month renewal. The bold items at the bottom of the pic below.

Unfortunately no...I'm just in SC.

 

[starrskream]

We own an insurance agency...

This is a daily conversation with our customers...many many many times a day.

The insurance industry is getting hammered by the cost of materials and labor, i.e. we are the second highest inflation impacted commodity currently (health care is #1). Carriers cannot just pay more and more and more on claims without passing that on to end users unfortunately. None would stay in business. It's every single carrier. Every one. I hate it, but ultimately there isn't a lot to do until the inflationary pressure drops (and who knows if it ever does...) my .02 worth .01.

interesting, given stories like this exist. Insurance companies are seeing record profit
https://www.repairerdrivennews.com/2024/01/30/insurers-start-seeing-profit-continue-rate-hikes/
given that private underwriters dont hold many of "the cards" and the big 5, progressive reigning champ, are reporting record incomes of...in some cases 400%
I know full well the gap between solvency and profit ins quite wide in insurance. Jacking rates is just low when so much of that industry is rolling in liquidity. Then again thats how the game works...jack the rates til customers break then offer discounts to those who complain so they feel sated. Its a big numbers game and insurance companies play it best sad to say.

 

[OHJeeper]

Oh, he's 1.5 years away. Then another she 4.5 years away.

FML

My youngest just switched from a permit driver to a licensed driver at the beginning of the month.

I took my deductibles from $500 to $1000 across all 6 vehicles - 2 JKs, my 2022 JT, 2020 Explorer ST and a 2015 Charger (not RT!) and a 2019 Cherokee KL to try and save money.

Just for switching my son from permit to licensed , AND increasing my deductible, my rate went up $398/mnth to $538/mnth.

 

[ShadowsPapa]

Not quite 2 grand a year for all of our vehicles - 2 Jeeps and 2 cars.

 

[Wheelin98TJ]

Not quite 2 grand a year for all of our vehicles - 2 Jeeps and 2 cars.

I’m at almost $2k/6 months for 2 vehicles. No fault is terrible.

 

[ShadowsPapa]

I’m at almost $2k/6 months for 2 vehicles. No fault is terrible.

all I can say is - "ouch!"

 

[chasebank]

I'm surprised by the USAA comments. I'm not particularly thrilled with their service but just switched to them from Geico and literally cut the bill in half. Gave Geico a chance to match and they sort of choked when we told them what USAA was quoting and couldn't even come close. They let a near 30 year old account go.

Location is a big part of it, so it's hard to compare apples to apples. Then again, I'm in central FL and the tourists here dive like idiots, and us locals drive even worse.

Now, property insurance here is a whole other monster... doubling every year and literally on the verge of collapse.

 

[BuyHold]

That is for a 6 month policy?

 

[Gladurhere]

We’ve been with USAA since 2007 and haven’t had many issues…the few claims we’ve had were always handled quickly and felt they were good to work with. $484 for my JTM and $786 for my wife’s 4xe Rubi on the 6 month premium. Hers is leased and damn they make you pay that much more going that route.

 

[TheSharksDen]

I went to a 2020 accord I was driving after I sold my 2020 Gladiator and insurance went up. I bought a new 2024 gladiator this weekend and my rates went down $150 a year from the 2020 accord I was in temporarily.

I have Auto Owners Insurance. I pay about $60 a month per vehicle ($120 total). Covering a 2022 loaded Honda Pilot and a 2023 Gladiator.

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