My insurance went up

[ShadowsPapa]

Everybody in Michigan got refunds of $400/vehicle a few years ago. But shortly after we were paying back a fund deficit.

That's why my comment on "generalizations". Some assume because there were refunds, it was industry-wide, all companies and gee you got cheated if you didn't get a refund. Wrong.
The industry is heavily regulated in some states - and if profits meet certain criteria, the state comes in and slaps their hands with a ruler.
Other states and/or other companies - there was no refund because they didn't raise rates to begin with. I can't recall the figure - but one phone call with my agent right after they had some big state meeting here he said they were discussing rates and so on and he named a date I can't recall - it was the last time the company had adjusted rates for anything other than like buying a more expensive car and so on. If you had the same vehicles for 5 years, your rates likely hadn't changed. So they finally had to raise rates this past year because they hadn't raised them for several years. Thus - nothing to refund. Refunds mean nothing if they keep adjusting rates every year. Doesn't happen so much here.

This is why I hate these generalizations and people comparing rates or how much their company raised them vs. some other company somewhere else. You can't compare. It's just not possible.
State regulations, the company's customer base (are they mostly younger, mostly older, higher risk, lower risk........)
These comparisons are totally meaningless unless you live in the same state and have the same company and same circumstances.
Then there's also cost of living in that area - we can compare power costs, fuel costs, housing costs, insurance costs - but it means nothing without the context - here things are cheap - yeah, so are WAGES!!! If I had to take what I made over my life and use it in many other states, I'd be in a tent on the street.
My wife says "I could live there" when she sees certain pictures on TV - and I tell her, no, you could not. You'd be broke sitting in your rocking chair reading a book all day and wondering how you were going to afford rent and groceries.

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[Wheelin98TJ]

That's why my comment on "generalizations". Some assume because there were refunds, it was industry-wide, all companies and gee you got cheated if you didn't get a refund. Wrong.
The industry is heavily regulated in some states - and if profits meet certain criteria, the state comes in and slaps their hands with a ruler.
Other states and/or other companies - there was no refund because they didn't raise rates to begin with. I can't recall the figure - but one phone call with my agent right after they had some big state meeting here he said they were discussing rates and so on and he named a date I can't recall - it was the last time the company had adjusted rates for anything other than like buying a more expensive car and so on. If you had the same vehicles for 5 years, your rates likely hadn't changed. So they finally had to raise rates this past year because they hadn't raised them for several years. Thus - nothing to refund. Refunds mean nothing if they keep adjusting rates every year. Doesn't happen so much here.

This is why I hate these generalizations and people comparing rates or how much their company raised them vs. some other company somewhere else. You can't compare. It's just not possible.
State regulations, the company's customer base (are they mostly younger, mostly older, higher risk, lower risk........)
These comparisons are totally meaningless unless you live in the same state and have the same company and same circumstances.
Then there's also cost of living in that area - we can compare power costs, fuel costs, housing costs, insurance costs - but it means nothing without the context - here things are cheap - yeah, so are WAGES!!! If I had to take what I made over my life and use it in many other states, I'd be in a tent on the street.
My wife says "I could live there" when she sees certain pictures on TV - and I tell her, no, you could not. You'd be broke sitting in your rocking chair reading a book all day and wondering how you were going to afford rent and groceries.

I’m in Michigan like the OP.

Everybody in Michigan got a $400 refund per vehicle. All companies, every single person.

 

[ShadowsPapa]

I’m in Michigan like the OP.

Everybody in Michigan got a $400 refund per vehicle. All companies, every single person.

Must be really tightly regulated there........... you know when there's a refund, it's not because it's out of the kindness of their hearts. (if they even have such a thing)

 

[am1978]

Yup, USAA just kindly added another 20% to my premiums as well.

BUT since they're Rob Gronkowski for commercials they had to stick someone with that bill.........assholes

Shared a link to this post with my sister. She works at USAA (in the corporate side) and I have been criticizing that Gronk thing for a while now. I told her to take it to marketing & management. As veterans, the wife and I don’t understand why they thought Gronk was appealing or worth it.

 

[NC_Overland]

Hmm. Mine just went down considerably. State Farm. Varies by region and I’ve been with them since I was 16

 

[NC_Overland]

I agree with others about USAA lately. I looked into switching to them for homeowners and my vehicle policies and they were crazy high. They used to be competitive.

 

[Minty JL]

Shared a link to this post with my sister. She works at USAA (in the corporate side) and I have been criticizing that Gronk thing for a while now. I told her to take it to marketing & management. As veterans, the wife and I don’t understand why they thought Gronk was appealing or worth it.

Yeah total waste of resources

 

[High Alextude]

Went from USAA to Progressive with both home and auto, saved over $2000/year. I was loyal to USAA for almost 20 years. Even with all their discounts and great customer service, the price wasn’t worth it in this economy and I’ve never been in an accident or had any claims. They don’t care about retention and now they are paying the price.

I do still bank with them, but we will see how much longer that lasts as well. Other banks have better savings rates.

 

[Jeeper44mag]

I have Farmers and I am now paying more for the JTR than I was for a Hellcat Challenger which blows my mind. The cost went up $40 per month when it renewed a couple of months back. My home insurance has almost doubled in the past 8 years

Time to shop around!

 

[Blade1668]

A few years back I had to change from USAA after having insurance from them for over 20 years my rates more than doubled. No claims, tickets or anything just so many s###y drivers who have USAA insurance. I seen it going up every year. Now back with State Farm, I checked with a few others companies double what I'm currently paying, reason many s###y drivers and being it's a requirement, the insurance companies have you no option. So they can and will.

 

[Blade1668]

I’ve had USAA since 1998. My payment is 98$/month for a gladiator. I have full coverage, and towing.
no issues in 7+ years.

I can say if you are a disabled vet, and are at the percent(40%+ I think, I’m at 100 so I don’t remember where the coverage starts) where your entire medical is covered they can wave your personal medical coverage. Not your liability towards others, just you. I know mine is and it got me a good discount.

I had USAA since 95 before I had State Farm and before was Geico that was about the worst ripping off I have seen. My monthly insurance was more than the vehicle monthly payment. A crap situation since my first vehicle was totaled by a hit and run drunk driver with no insurance or license.

Interesting on the medical one, I need to check on that myself.

 

[Vtur]

This whole situation, call it inflation, will not go away unless 1) there is a major economic crash, or 2) people nation wide collectively are willing to 'accept less', or rather will stop wanting more and more.

We are all part of the problem. Including myself. I want to make more money to be able to afford and buy more things. So does the CEO (assuming I work at a private company). Well for that to happen, ether jobs or costs need to be cut, or prices need to rise. Well, that directly impacts you who shop at the place I work. And it directly affects me who shops at the place you work. Of course add in competing companies who sell similar items. Add to that government/state regulation that forces people to buy things like home/vehicle insurance based on passed laws. And a system that penalizes responsible people while not penalizing irresponsible people. It is simple economics and social economics. Of course a person can get into the political talk of what makes additional worsening or better situations but, at the very root of it all, it is the collective minds/opinions/desires of a society as a whole.

If everyone in this country was willing to accept less, collectively, then prices and things would reduce. But nobody, or few, would be willing to do that. Everyone is basically selfish. I want to fix up my TJ and LJ. This requires more money to be spent. The companies selling the products I want to buy also want to make more money for themselves so they can buy what they want. And so it continues endlessly. Unless everyone collectively 'curbs their appetite' it will never end. Inflation has been a thing from the beginning. Even in the Roman Empire days. The two (inflation and collective greed) is mutually inclusive and cannot be separated.

It sucks to think about. But every single one of us here is part of the problem. We're all in it together. Just the cold hard truth.

We needs or wants to makes more because the things that we needs has a higher cost. It's easier to raise prices than getting a raise or finding a higher paying job.

 

[RubiNewbCB]

Shared a link to this post with my sister. She works at USAA (in the corporate side) and I have been criticizing that Gronk thing for a while now. I told her to take it to marketing & management. As veterans, the wife and I don’t understand why they thought Gronk was appealing or worth it.

Thanks for sharing! Maybe it'll gain some traction!

 

[RubiNewbCB]

Went from USAA to Progressive with both home and auto, saved over $2000/year. I was loyal to USAA for almost 20 years. Even with all their discounts and great customer service, the price wasn’t worth it in this economy and I’ve never been in an accident or had any claims. They don’t care about retention and now they are paying the price.

I do still bank with them, but we will see how much longer that lasts as well. Other banks have better savings rates.

and finance rates, NAVY FEDERAL has always beaten USAA rates for me.

 

[JKenTex]

saw this and it caught my attention, then saw how many pages it was.....I guess it got a lot of attention, and I'm late to the party. :D

I don't have one yet, but all of our insurance is up for renewal so I asked our agent to run insurance on a '24 Mojave X with an est MSRP of $70k.

Compared to my 20 year old Ford Excursion, it was about $150 more for the JT annually. Just over $900.

I thought that was more than reasonable. I'd look at coverage and probably make some tweaks but I'm ok with that. Now I need to get the deal I want on the Mojave X, and hopefully the interior looks a lot better than a mobile phone, web marketing pic.

I'm not in insurance, but look around everywhere and see why rates are going up. How many more vehicles are on the road that aren't insured, not legal etc.? How many people are on the roads, causing "claim events" with absolutely no way to be held accountable and more...... In a way, and each state is a little different based on all risks, we're paying for coverage to compensate for a fast growing number of people that are getting a free ride where risk is always someone else's, not theirs.

To say much more becomes way to political....

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