Did your car insurance go up?

[aarondhgraham]

I bought a brand new Hyundai back on Nov 31, 2021,,,
I was very disappointed with Progressive after my deer collision,,,
So I decided to go with a company that had offices and a real human agent.

Allstate.

I got a pretty fat policy,,,$250 deductible,,,'
Total car replacement, high amount for uninsured driver, etc.

I was happy with the rate of $557.00 for 6 months,,,
Then this past Monday I got the e-mail reminding me of my scheduled 6-month auto payment.

My coverage had gone up to $671.00 for 6 months,,,
That's a hair over a 20% rate increase.

I'm afraid I wasn't very nice to the Allstate rep I spoke with on the phone,,,
Apparently they raised rates for everyone in Oklahoma.

I went in yesterday and lowered some coverage amounts,,,
I went from $250 to $600 deductible which helped,,,
And dropped uninsured motorist protection.

I wasn't aware that it only covered my medical,,,
Since I have very good health insurance and Medicare,,,
I decided that the cost of that coverage was not really necessary.

I got it down to $535.00 now,,,
That's within my budgeted allowance for car insurance.

Until the next time they make an arbitrary increase.

Like most retirees I'm watching inflation whittle away at my very fixed income.

Aarond

.

 

[John6185]

Sort of on the same subject, home owners insurance has gone through the roof since they've gone up in price. Not just home owners insurance but also taxes on the property. Then you add in HOA fees, maintenance, lawn mowing, fertilizer and you are broke or bank ruptured as they say in the hills.

 

[PanhandleGlocker]

Off topic sorta but how do you like your Hyundai? We bought a brand new Sonata in June last year and we just now hit 5000 miles on it. I love it.

 

[dennishoddy]

We have had increases in both home and vehicle insurance because of inflation that is bringing prices up.
FJB!

 

[swampratt]

I pay yearly for my auto's and it saves some coin.
Of course I only have liability all my stuff is paid for 57 chevy 47 dodge and 95 corolla are $576 total for 12 months.
I would crap if 1 car cost me that for 6 months.

 

[cjjtulsa]

Not sure if it’s as much inflation, as storm damage. Have had a good amount of storms this spring, and a surge of damage claims from hail will also raise rates across the board - auto and home. Add that to our poor money policies that have caused inflation, and here we are.

As much as Biden has destroyed the economy, let’s not forget Trump also spent money like a drunken sailor, and is responsible for those stimmy checks. Print, print, print. All the way to collapse.

 

[MilitantBEEMER]

Just had the same thing happen to the wife and I. Lackluster Farmers coverage went from $901 to $1,017 for our vehicles. It has been at the $900 range 3 years. We are claim and violation free. Credit Score is high and debt to income is real low. It is infuriating to get a 12% increase for no logical reason. I am now shopping around.

 

[JD8]

Not sure if it’s as much inflation, as storm damage. Have had a good amount of storms this spring, and a surge of damage claims from hail will also raise rates across the board - auto and home. Add that to our poor money policies that have caused inflation, and here we are.

As much as Biden has destroyed the economy, let’s not forget Trump also spent money like a drunken sailor, and is responsible for those stimmy checks. Print, print, print. All the way to collapse.

ALL insurance is going up, not just property. We won't realize the storm damage from this year from an insurance perspective till maybe next year. Much of it is inflation based. The insurance carriers aren't making the money they were on their investments and they'll make up for it to please stockholders. I will say that with respect to auto claims, those are increasing significantly. Supply chain issues are making it worse. I'm basically on my 5th week of a rental because we cannot get parts for our SUV after a lady rear ended my wife. I'm seeing 65K+ trucks getting totaled because they can't find parts to fix them. Having a tough time to find the replacement too.


Yep, it's Brandon.

 

[OKRuss]

Our home and auto bundled policies went up over 20% and our agent said it was mostly due to the storms. Of course WE didn't have any claims but someone has to pay for it all right?!?! They only have an annual revenue of $50 Billion so gotta be billed back to the consumer.

Allstate annual revenue for 2021 was $50.588B, a 20.71% increase from 2020. Allstate annual revenue for 2020 was $41.909B, a 0.89% increase from 2019. Allstate annual revenue for 2019 was $41.541B, a 4.34% increase from 2018.

 

[sklfco]

Forced to purchase a financial instrument because one can not afford their lifestyle.
I could not imagine willingly handing over my freedom for so little of a payoff.
Can not understand why most do and then complain about their choice.
Baffling............