Insurance pisses me off!

[Shadowrider]

My vehicles are paid for. When COVID hit and I lost work I dropped collision coverage (kept comprehensive) and my rates dropped like a rock. Yes I know, I'm taking a risk if I get hit by an uninsured driver, but I don't drive a lot anyway.

 

[Steelers Fan]

I don't get it, either. We have excellent credit, very little debt, excellent claim history, no accidents, 1 ticket 2 years ago, 60+ years old, with an 8 year old truck and a 6 year old car. We pay about $2200 year for full coverage. And I shop around (as much as I hate it) at least twice a year.

It's gov't mandated robbery. I'm appalled by the cost of insurance in Oklahoma. One of the very few things about this state I don't care for.

Correct you are. Government requires it but does not have it. A friend of mine's wife was hit by governmgent vehicle at fault. They were told to make claim on their own insurance. Tried legal action but was scoffed off.
Maybe we should drop the uninsured motorist portion - pocket the money and claim all accidents our fault. It won't matter on increases. You and I with exemplary history are the proof. It's a racket, health/home/auto insurance has become government organized crime (Obamacare). it would be interesting to see how the OK Ins. Commissioner's life has improved since taking office. He doesn't seem to want to go to bat for the citizens of OK. In a recent statement about high percentage increases he said I'm not here to regulate cost but to look for illegal activity. Sounds like he need not look outside his office.

 

[Steelers Fan]

My vehicles are paid for. When COVID hit and I lost work I dropped collision coverage (kept comprehensive) and my rates dropped like a rock. Yes I know, I'm taking a risk if I get hit by an uninsured driver, but I don't drive a lot anyway.

It's all a form of gambling.

 

[turkeyrun]

It's all a form of gambling.

Had homeowner insurance for 30 years, same provider, no claims. Filed claim on roof for hail damage. Claim denied because roof was over 10 years old, maintenance issue. 4 months later, water heater blew bottom out. Claim denied, water heater over 10 years old, maintenance issue.
End of the year, renewal invoice doubled cost. House is paid for, other house paid for; I threw renewal away. Agent called "to remind me of renewal", mentioned the 2 denials and increase. He stated the increase was because of 2 claims. Politely told him "KMA".

Put $2000 in an "insurance savings account" every January. 4 years in, wind damage to roof. $4200 for new roof. No deductible to cover, just pay for it. Money ahead. Been 5 years and no problems. I'll take the gamble.

At one time, insurance was good, affordable and took care of business. That changed several years ago.

 

[Buck98]

Long story short! We have 2 Chevy trucks….2002 3/4 ton and a 2009 1/2 ton. We bought them each when they were 2 years old. Had Farmers insurance on them. Separate policies. Five years ago I took the policy’s to Okla farm bureau. They gave me the same coverage as Farmers on both vehicles for a few dollars less than what we were paying for one vehicle at Farmers. The only catch is you have to be a Farm Bureau member and that costs $45 a year.


It pays to shop around!!!!!!!!

 

[JD8]

Yep. But it ain’t your car the insurance company is worried about, it’s the $85k pickup truck or suburban you tangle with that hurts their pocket book.
Doesn’t take much these days to rack up 10’s of thousands in damages. Heck, even some fender benders. Then rental cars, attorneys and on and on.

Well that and the amount of uninsured drivers here in Oklahoma. Also, people seem to have all sorts of random soft tissue injuries after fender benders.

To the OP, you aren't rated as an individual, you're rated on local and state demographics.

 

[JD8]

The only company in America that can raise their rates to cover their losses or move to states where they make money.
I'm certainly not advocating government intervention as I believe in the free market, but places like Florida and Oklahoma are getting shafted by the insurance companies.
Yeah, we get tornados and hail, while Florida gets hurricanes. The insurance companies are bailing out of both, and rates are going up.

Far be it from me to defend insurance companies but I see the claims, mostly on the commercial side, but I see large residential claims too. From Texas to Kansas it has been BAD over the last few years. You can't even get wind coverage in a lot of places in Florida. Their state ran Wind Insurance pool went insolvent. California and Colorado is bad too.

 

[caliberbob]

Had homeowner insurance for 30 years, same provider, no claims. Filed claim on roof for hail damage. Claim denied because roof was over 10 years old, maintenance issue. 4 months later, water heater blew bottom out. Claim denied, water heater over 10 years old, maintenance issue.
End of the year, renewal invoice doubled cost. House is paid for, other house paid for; I threw renewal away. Agent called "to remind me of renewal", mentioned the 2 denials and increase. He stated the increase was because of 2 claims. Politely told him "KMA".

Put $2000 in an "insurance savings account" every January. 4 years in, wind damage to roof. $4200 for new roof. No deductible to cover, just pay for it. Money ahead. Been 5 years and no problems. I'll take the gamble.

At one time, insurance was good, affordable and took care of business. That changed several years ago.

Honestly can’t argue with that.

 

[John6185]

Probably part of the insurance pays for uninsured motorists coverage.

 

[SoonerP226]

My car insurance significantly dropped from Seattle, but my house insurance and property tax significantly increased. Plus I got income tax now. I thought this was a red state...

It has only been a red state for about 25 years. Prior to that, it was a Democratic stronghold. We've made a lot of progress, but it takes time to unwind over a century of Democratic control.