Anyone else's insurance going up like crazy this year?

[BootyWizard]

Forgive me if this isn't the right place to post it, but I'm wondering if any of y'all are in the same boat.

Insurance renewal time came this month, and was shocked to see my monthly bill increase by over 40%. My insurance sent an email saying it was due to the increased costs of doing business (gee haven't heard that one before). But it definitely is not just my current insurance, I shopped around for a couple of different quotes and for identical coverage they were within $20-30 of each other.

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[kodiakisland]

My insurance renews July 1, so I haven't seen any increase yet. Remember though, while many people just compare rates, the real difference in insurance is what happens after the wreck. Some cheaper premiums aren't worth it if you actually have to use the insurance.

 

[Techun]

Mine went up about 20%. It's still not terrible at ~800/3 cars/6mo but it was better when it was $500 -.-

 

[BroncocnorB]

If it wasn’t for lawyers we wouldn’t need lawyers

 

[BroncoA512021]

Forgive me if this isn't the right place to post it, but I'm wondering if any of y'all are in the same boat.

Insurance renewal time came this month, and was shocked to see my monthly bill increase by over 40%. My insurance sent an email saying it was due to the increased costs of doing business (gee haven't heard that one before). But it definitely is not just my current insurance, I shopped around for a couple of different quotes and for identical coverage they were within $20-30 of each other.

Perfect Storm Creates ‘Hardest Market Cycle in a Generation

Read this article..... I am in the insurance business.

 

[Fivefingerheist]

*Cries in Michigan insurance rates* Seriously though, insurance rates here are I believe some of the highest in the entirety of the USA. ~600-700 each for a Jeep Cherokee & Badlands Bronco. And that's with just now changing insurance carriers.

Edit: Thats 6-month rates

 

[mcinfantry]

Louisiana…. No driving record, both in our late 40’s

2020 jlur
2022 bronco 2600 a year

Usaa
3400 a year…

 

[Shawn of the Dead]

Lemme see 4 vehicles with progressive.

2023 Wildtrak
2017 Fusion
2014 Focus
2016 Edge

3 drivers (one who is pretty young) and one major ding that requires an SR22

2688 every 6 months = 672 per car. Losing the SR22 which will happen in 1 year will save me close to a 1000 bux a year.

I feel like my insurance is pretty reasonable all things considered.

 

[JPNC]

My insurance renews July 1, so I haven't seen any increase yet. Remember though, while many people just compare rates, the real difference in insurance is what happens after the wreck. Some cheaper premiums aren't worth it if you actually have to use the insurance.

Agree! USAA saved my butt one time when they probably should not have and earned my lifetime loyalty.

 

[MannyG20]

If it wasn’t for lawyers we wouldn’t need lawyers

Sometimes wisdom is the simplest thing

 

[DillLightful]

Not car related, but recently found out that at some point in the last 4 years my agent changed my policy to a ridiculously high deductible without properly informing us. Apparently premiums went up so much she didn’t want to lose our business, so she changed our policy so we wouldn’t notice our auto draft change much. I’m furious. I would happily pay more premium to have a lower deductible. I live in Oklahoma. I found out when I tried to make my first claim in 6 years after some roof damage from a storm. My deductible is just under $8k. Which btw, is less than a new roof out of pocket. Apparently insurance agents have incentives/commission like structures and customer retention is a big factor. So I’ll be dipping into various retirement funds for a roof this year because insurance agents are under such pressure they’re acting unethically.

 

[Karl_in_Chicago]

Just a data point - no real change here and I was surprised at how cheap (relative, all things are relative) it was to add the Bronco to my policy. Like all things insurance, though, that really means nothing - my zipcode is different than yours as is (presumably) my age, marital status, vehicle/property/etc mix, levels of coverage/deductibles and so on.

 

[Shawn of the Dead]

Just a data point - no real change here and I was surprised at how cheap (relative, all things are relative) it was to add the Bronco to my policy.

I was worried as well because of the effect that having an SR22 "incident" causes along with the price of the SR22 itself. As it was it cost 96 dollars a month to insure the Bronco. The entire premium should drop drastically in 12 months as both the SR22 and the qualifying incident will both drop off.

 

[mC.242]

Yes mine went up about 20% this year as well. Still paying a reasonable amount for three vehicles and two drivers though. And I've shopped it around many times and for whatever reason Geico keeps beating them all significantly.

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