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Esteemed Contributor
Posts: 5,581
Registered: ‎03-09-2010

Just got my vehicle insurance bill for renewal in January.

 

Went up 50%. Yep, no tickets, no accidents, vehicle is 1 yr older and I'm still working from home!.  Clicked around, much better price if I switch. No loyalty here. 

Trusted Contributor
Posts: 1,783
Registered: ‎03-06-2020

I'm in Florida; don't get me started on this. Smiley Mad

"Coming to ya from Florida"
Honored Contributor
Posts: 15,140
Registered: ‎03-11-2010

Re: Insurance - Home & Car

[ Edited ]

My sister is in Florida. She said hers went up thousands?

We pay a monthly payment for our homeowners insurance with our car insurance combined. It only went up around $18 between the two? I figured a lot more.

Have insurance with State Farm at least 40 years. Never used the car insurance. Roof has been replaced twice due to hail. If ours starts going up a lot coverage & deductibles will change. Sick of being insured & taxed to death?

Super Contributor
Posts: 252
Registered: ‎02-06-2017

Oh, boy.  Speaking as a retired insurance agent (40 year career) the increased costs that you see will continue.  All the covered natural disasters in the country ultimately come back to all of us even if your state did not experience those disasters.  And the insurance industry has taken a beating in the last few years.  In order to remain solvent they have to increase premiums, but those increases have to be approved by your state insurance department and usually the insurance carrier does not get all they ask for.  

Trusted Contributor
Posts: 1,570
Registered: ‎03-09-2010

In some locations, more cars and parts are being stolen, the number of uninsured drivers causing accidents is up, and more homes are being broken into.

Respected Contributor
Posts: 4,838
Registered: ‎07-24-2013

My ins rate has gone up EVERY YEAR since i moved to this state 15 yrs ago and i do have my agent shop around.   he said there are more personal injury lawyers here per capita than any other state.  lots of accidents which drives up the rates. just last week i dodged 2 drivers drifting over to my oncoming lane.

 

 

Honored Contributor
Posts: 14,211
Registered: ‎01-02-2011

Re: Insurance - Home & Car

[ Edited ]

My car and home insurance has gone down but that's due to no longer owning a home and we got rid of the second car.  I miss the car more than I miss the house and its upkeep including a whopping property tax.  

Esteemed Contributor
Posts: 6,671
Registered: ‎03-10-2010

Re: Insurance - Home & Car

[ Edited ]

@Nightowlz wrote:

My sister is in Florida. She said hers went up thousands?

We pay a monthly payment for our homeowners insurance with our car insurance combined. It only went up around $18 between the two? I figured a lot more.

Have insurance with State Farm at least 40 years. Never used the car insurance. Roof has been replaced twice due to hail. If ours starts going up a lot coverage & deductibles will change. Sick of being insured & taxed to death?


@Nightowlz 

That would be correct.  Gulf Coast states have seen many insurers pulling out and the remaining companies have been raising rates by thousands of dollars.  It makes me ill just to think about it.Smiley Sad

"Breathe in, breathe out, move on." Jimmy Buffett
Respected Contributor
Posts: 2,469
Registered: ‎05-02-2017

 

 

Here in Philly all houses were reassessed, and almost everyone had a substantial tax increase!  The city says our houses are worth more now, so that is why the taxes have to go up.

 

The same with house insurance and car insurance--the agents say the cost of materials and skilled workers is making those prices rise nationwide.    

 

It seems to be the way of the world these days!

Respected Contributor
Posts: 3,265
Registered: ‎10-09-2023

Ha! Just got an email last week giving us a warning I guess that rates are going up so don't be surprised. Yeah, can't wait for the next policy year in March.