topic Re: Insurance - Home & Car in Community Chat

Insurance - Home & Car

Sunshine Kate — Mon, 11 Dec 2023 13:14:23 GMT

Anyone else feeling the financial pinch for insurance? It just keeps increasing. I understand everything is increasing, but when will it stop?

I raised the deductibles, but it's still high even with a clean record.

Re: Insurance - Home & Car

geezerette — Mon, 11 Dec 2023 13:19:22 GMT

I am for sure. Both my auto and home ballooned this past renewal.

Re: Insurance - Home & Car

Imaoldhippie — Mon, 11 Dec 2023 13:22:01 GMT

It would be a good time to comparison shop.

Re: Insurance - Home & Car

catter70 — Mon, 11 Dec 2023 13:26:07 GMT

My homeowners didn't go up this didn't go up for 2024, but both my home and car insurance (6 mos.on that) runs about 1200.00 due in Jan.,of course. The other half on car due in July. Not sure yet if tht has gone up.

Re: Insurance - Home & Car

Estellee — Mon, 11 Dec 2023 13:31:56 GMT

Both my car insurance and home insurance continue to shoot up every year. I was told because I live close to Miami my car rates climb and also living in a hurricane zone increases home insurance.

Re: Insurance - Home & Car

JeanLouiseFinch — Mon, 11 Dec 2023 13:32:26 GMT

Overall we've been happy. We have had both with the same company for many years. When we renewed a few months ago, one of the policies had a new underwriter, or something, and they changed the way they did things, We used to get an automatic monthly charge on our CC for each and they would charge it in a way that we'd get two "free" months anually, every six months. The policy that changed is now an automatic withdrawal from our checking account. The thing that bothers me is that by them withdrawing from the checking, I'm missing out on the rebate that comes when charging my CC. The prices haven't changed much when we renewed though.

Re: Insurance - Home & Car

gidgetgh — Mon, 11 Dec 2023 13:44:33 GMT

I paid my homeowners a few weeks ago. It actually went down $80. I almost had to be revived. It was still $1,200 though and that is with a $2,500 deductible.

I haven't received the most recent premium for my car yet I'll get that in January.

Re: Insurance - Home & Car

Somertime — Mon, 11 Dec 2023 13:56:12 GMT

I live in Florida, we have the highest home owners insurance in all 50 states and nothing is being done to reduce the premiums but they vote in favor of increasing them. Our car insurance is no better...........outrageous! Florida is NO bargain.

Re: Insurance - Home & Car

ValuSkr — Mon, 11 Dec 2023 13:57:52 GMT

@JeanLouiseFinch wrote:
Overall we've been happy. We have had both with the same company for many years. When we renewed a few months ago, one of the policies had a new underwriter, or something, and they changed the way they did things, We used to get an automatic monthly charge on our CC for each and they would charge it in a way that we'd get two "free" months anually, every six months. The policy that changed is now an automatic withdrawal from our checking account. The thing that bothers me is that by them withdrawing from the checking, I'm missing out on the rebate that comes when charging my CC. The prices haven't changed much when we renewed though.

I get the monthly premium charged to my credit card too. I like to earn points on the credit card. But it would probably be better to pay in one shot as each installment includes a $4 or $5 fee.

Re: Insurance - Home & Car

Ainhisg — Mon, 11 Dec 2023 13:58:21 GMT

Oh, yeah! All our policies have gone up! (House, car, truck, boat, boat trailer, umbrella) How can my car now be $200 more every six months, when it is three years old come April with no tickets or accidents? When I called to ask the agent about it, I was told it was because their price to replace/repair cars/homes had gone up. She then told me I could install an app so that the company would know my/our driving record, and I was like, "No way." Not because we're poor drivers, but I do not trust insurance companies to not use the information against us in some way. That happened to a friend of mine whose rates went up after installing the tracking app, and the reason they gave was something that the app told them! I don't remember what it was, but it was something that she wouldn't be given a ticket for and seemed innocuous, so no way, no how will I let an insurance company track me/us! Supposedly, we would have gotten a discount (less than $50) per vehicle for having the app.

So then I had them run rates with other companies that they represent. Well, the company that we use (Farmer's) is their only "well-known" company. When she ran the rates, she gave rates (which "were" cheaper) of lesser known companies, and when I read the reviews on them, they were awful. We decided to stick with Farmer's for now, but all our policies come due next August, and I am shopping around as soon as we get our cost estimates in June.

Re: Insurance - Home & Car

PickyPicky3 — Mon, 11 Dec 2023 14:02:08 GMT

Big increases to both homeowners and auto. This was the first time the renewal packets started with a warning about the large increase.

Re: Insurance - Home & Car

smb3 — Mon, 11 Dec 2023 14:06:39 GMT

I read recently to expect auto insurance prices to increase.

Each year before renewal time I ask my agent to shop around for the best company/price. The cost is ridiculous for having a clean record, etc.

Re: Insurance - Home & Car

SilleeMee — Mon, 11 Dec 2023 14:07:59 GMT

Whenever natural disasters happen anywhere, rates for homeowners ins goes up from coast to coast. It doesn't matter where you live. Hurricane in Florida will cause rates to go up in Kansas, for example.

Car ins is going up largely b/c of the cost of repairs to technology used in newer cars.

Re: Insurance - Home & Car

millieshops — Mon, 11 Dec 2023 14:21:24 GMT

@JeanLouiseFinch Some companies offer an immediate reward for automatic payments. That tends to be at least as much as credit card points.

Just this week as I went to charge a pair of shoes, I noticed a sign there would be a 3% surcharge. My credit card doesn't pay 3% so I was happy to dig out the emergency $$$ I try to carry. (Only orthopedic stores carry the shoe I need so shopping elsewhere isn't an option.)

Re: Insurance - Home & Car

ScrapHappy — Mon, 11 Dec 2023 14:28:56 GMT

Saw this on the news yesterday. Saying that insurances have gone up in 2023 and will continue to do so in 2024. I moved to where I live now 7 years ago. It has gone up every year since moving.

Re: Insurance - Home & Car

Effie54 — Mon, 11 Dec 2023 14:32:31 GMT

Yes, absolutely. We just received our homeowners, umbrella and car insurance bills. They went up $100.00 each policy! Granted I chose a top-tier insurance company, but the increase is quite high. We never put in claims either. My agent did say there were other companies to consider, but they're not well rated. So, I'm keeping our company for now. They sure did go up.

Re: Insurance - Home & Car

kate2357 — Mon, 11 Dec 2023 14:40:39 GMT

Our home owners policy only went up about $50 for the year....which I don't consider too bad. Had a bigger increase last year because the value of our home went way up and our policy is written to cover the value of our home.

Our car insurance actually went down because my husband can't drive anymore due to an injury.

Re: Insurance - Home & Car

Carmie — Mon, 11 Dec 2023 14:57:05 GMT

Insurance has been climbing upwards for years. I think we support our agent with State Farm.

We have two bundles to get a lower rate....not that much lower, IMO.

We insure our home, 4 cars, two RV's and two boats. Thankfully, whenever we have had a claim, it was paid with no issues.

Re: Insurance - Home & Car

Puzzle Piece — Mon, 11 Dec 2023 16:03:32 GMT

It's a dismal outlook. Try being here in CA where many insurance companies have just left or given up insuring for most things.

Guess someone has to pay for the country's tornado, flood, fire, and hurricane losses. FEMA doesn't do it all.

Re: Insurance - Home & Car

Scooby Doo — Mon, 11 Dec 2023 17:04:01 GMT

@Ainhisg wrote:
Oh, yeah! All our policies have gone up! (House, car, truck, boat, boat trailer, umbrella) How can my car now be $200 more every six months, when it is three years old come April with no tickets or accidents? When I called to ask the agent about it, I was told it was because their price to replace/repair cars/homes had gone up. She then told me I could install an app so that the company would know my/our driving record, and I was like, "No way." Not because we're poor drivers, but I do not trust insurance companies to not use the information against us in some way. That happened to a friend of mine whose rates went up after installing the tracking app, and the reason they gave was something that the app told them! I don't remember what it was, but it was something that she wouldn't be given a ticket for and seemed innocuous, so no way, no how will I let an insurance company track me/us! Supposedly, we would have gotten a discount (less than $50) per vehicle for having the app.

So then I had them run rates with other companies that they represent. Well, the company that we use (Farmer's) is their only "well-known" company. When she ran the rates, she gave rates (which "were" cheaper) of lesser known companies, and when I read the reviews on them, they were awful. We decided to stick with Farmer's for now, but all our policies come due next August, and I am shopping around as soon as we get our cost estimates in June.

Yeah, that app is not good. This past summer I changed insurance companies because GEICO went through the roof. That's without claims and a clean record.

I switched to AARP for half the price. But they gave me a discount for installing the app. I tried it out for a couple of weeks before I realized it could be more harm than good. First of all it drains your phone battery. Then it tracks everything about your trip, what route you take, speed, braking, time. It's essentially spyware. It tells where you go and how long you're there. I deleted the app. And I thought about it this weekend when I made a stop at the liquor store to get some supplies for Christmas. I'm sure they would hold that against me.