Drivers Slapped with Record High Insurance Rates: 'It Is Devastating'

[Harry Dresden]

Because that isn't how insurance works. You might have a claim tomorrow.

then raise the rate after that......good drivers with no claims should have much lower rates.....

 

[Fort Fun Indiana]

then raise the rate after that......good drivers with no claims should have much lower rates.....

That wouldn't make sense. Everyone's rates went up, because claims are larger. You pay for rhe risk you are today, not yesterday.

 

[JohnDB]

DC residents see an increase in car insurance premiums, some say carjacking incidents are to blame

Higher car insurance premiums are hitting some D.C. residents where it hurts — their wallets.

www.fox5dc.com

" the companies are reportedly saying increasing carjacking incidents are to blame."

"residents who have auto insurance coverage with other companies, including Geico, say their insurance premiums are currently increasing and agents are reportedly blaming carjackings and car thefts across the district."

I was friends with the mathematician who created the bell curves for rates. Today the companies plug in the numbers and then give you the bad news.

Repair costs are part, crime rates are part uninsured motorists are a part and driver age/skill plays into it too. (Other factors play a role as well)

And it's simple statistics of the likelihood of the insurance company paying you or others. Pure and simple.

Property/casualty insurance is not like life insurance...the margin for profits are much much smaller. (Which is why the companies love bundling)

New truck? $100k price tag? $50k insurance? Because it will get stolen and shipped to the UAE within a year or two.

Parts are so backordered it's a 3 month wait for parts. Factories are still massively understaffed or waiting on materials around the world. (China bankruptcy, Russian Ukraine and Middle East conflicts)

There's a lot of problems in the world. And global supply chains means global shortages.

 

[d0gbreath]

Once every 3 or 4 years I contact my agent and ask "Why is my insurance rate raised up so high?"

They knock it back down every time.

 

[Harry Dresden]

That wouldn't make sense. Everyone's rates went up, because claims are larger. You pay for rhe risk you are today, not yesterday.

so the good drivers have to pay for the ones who get tickets and wrecks?.....no good driver discounts?....

 

[Harry Dresden]

Once every 3 or 4 years I contact my agent and ask "Why is my insurance rate raised up so high?"

They knock it back down every time.

the geico lady i was talking too could have cared less...

 

[d0gbreath]

the geico lady i was talking too could have cared less...

Sometimes, I get a hold of Geico and get a quote first. (I forgot that part). Then I tell my agent the amount of the quote. He always asks "Who is that quote from?" To which I reply "That's propitiatory information."

 

[White 6]

How do you know that the OP isn't high risk or makes multiple claims?

I don't. If that were to be the case, I would not suggest considering East TN, as TN has enough lousy drivers already.

 

[leftwinger]

Once every 3 or 4 years I contact my agent and ask "Why is my insurance rate raised up so high?"

They knock it back down every time.

BS. they change your coverage. You don't get anything for free anymore.

 

[White 6]

I'm waiting for retirement, then I'm out of here.
You're right though, I made some bad choices years ago, that I have regretted now for many years.

My uncle live out there 15 years, and came to the same conclusion. He moved back, and then to Florida (before their real estate and insurance went crazy also).

 

[leftwinger]

Sometimes, I get a hold of Geico and get a quote first. (I forgot that part). Then I tell my agent the amount of the quote. He always asks "Who is that quote from?" To which I reply "That's propitiatory information."

Probably more BS. They all own partnerships with each other and can see online what you are up too.

I once went to E-Inurance from Geico thinking I made a secret killing. But then to find out Geico owns them too.

 

[leftwinger]

progressive gave me the same policy for 50 a month cheaper...

With not guarantee Progressive won't fall right in line ASAP and raise the rates to you.

 

[d0gbreath]

BS. they change your coverage. You don't get anything for free anymore.

They've never changed my coverage.

 

[Fort Fun Indiana]

so the good drivers have to pay for the ones who get tickets and wrecks?.

No.

No, their history will cause them to pay higher rates than you do.

But even the best drivers are still a risk. And when the prices of all claims go up, then everyone's rates go up. Because the loss to which you are exposed is higher.

 

[Harry Dresden]

With not guarantee Progressive won't fall right in line ASAP and raise the rates to you.

then i will search for someone else....

 

[Harry Dresden]

No.

No, their history will cause them to pay higher rates than you do.

But even the best drivers are still a risk. And when the prices of all claims go up, then everyone's rates go up.

you sound like you work in the industry FF....

 

[Fort Fun Indiana]

you sound like you work in the industry FF....

I have.

 

[OldFlame]

East TN is nice. My rates have not been sky Rocketing in West TN, either. Probably like you and Eye, I haven't had claims in years. You both coincidentally live in blue states with higher than normal costs of living.

Yet you vote blue for the nation... can't make this shit up...

 

[White 6]

Yet you vote blue for the nation... can't make this shit up...

Look OldBurnout, I have been driving cars, trucks, semi's since I was 16 and never saw a presidential election effect my insurance on my vehicles. Weird old guys like you think everything is related to the President, I guess even good thing, unless it is a president you don't like. Then ignored, of course. Very few businesses chart their course by who is in the big political chair. And, insurance it one of those thing that is regulated state to state, not so much nationally, as risk and cost vary, as do state legislatures.

 

[Fort Fun Indiana]

Yet you vote blue for the nation... can't make this shit up...

You sound kind of dumb. "Blue" places are more expensive, because more successful people trend democrat. They but more expensive houses and flock to cities.