Property/ vehicle insurance increases

[tony]

Erie, been with them 30 plus years
Check them out.

 

[Bluefish]

Same here. Unbelievable increases over the last two years. Was told by one insurance company that rates here in Texas and Florida went up due to disasters and the number of claims paid out. Umm how’s that my problem? I’ve never had a claim on my homeowners. Ever. I F****** hate insurance companies.

Insurance is simply cost sharing with a profit for the company doing the paperwork. We all pay a portion of what they pay out. Unfortunately places are forcing lower premiums by law so the companies have to charge more elsewhere. I read that they were paying $1.09 for every $1 of premiums in SoCal. That can’t last long and I expect these fires will test the whole insurance industry. They may just leave markets that they can’t make money.

I know a guy who was actuary at an insurance company. I am curious to see what his take on the fires will be to rates.

 

[KsRancher]

I drive a 2003 chevy diesel with 394,000 and my wife drives a 2011 yukon XL with 276,000 on it. Our insurance keeps going up. When I called in and asked about why it keeps going up for a vehicle that keeps going down in value. I was told "it's not your vehicle why it's going up, it the $90,000 SUV or pickup that you hit". I don't know if that's true. Or just some BS sales pitch.


Someone already mentioned that homeowner insurance goes up because our houses keep appreciating. That is understandable. It's just hard to swallow when you get a 30% bump in one year.

 

[Bluefish]

I drive a 2003 chevy diesel with 394,000 and my wife drives a 2011 yukon XL with 276,000 on it. Our insurance keeps going up. When I called in and asked about why it keeps going up for a vehicle that keeps going down in value. I was told "it's not your vehicle why it's going up, it the $90,000 SUV or pickup that you hit". I don't know if that's true. Or just some BS sales pitch.


Someone already mentioned that homeowner insurance goes up because our houses keep appreciating. That is understandable. It's just hard to swallow when you get a 30% bump in one year.

The liability is a big cost. When we had a 1 ton van it was double any of our other cars. It’s big and heavy so it would do more damage. It also cost a ton to fix any newer car. I asked my local body guy about fixing a scratch on my truck bed. He said $3k minimum. They would pull the bed, fix the dent, then respray the bed and put on new stickers.

The other big cost is uninsured. I know in Houston my brother has taken to running a video camera due to being hit so many times by illegals that run. All those accidents get passed on to people who pay.

 

[180ls1]

The other big cost is uninsured. I know in Houston my brother has taken to running a video camera due to being hit so many times by illegals that run. All those accidents get passed on to people who pay.

Yup. This future president or doctor hit and ran us with my wife and daughter in the car on Christmas Day. Wife snapped a pic. Notice he is still on his phone?

 

[30338]

American Family has been very good on home and auto. I check them every 2-3 years and they seem competitive for my coverage. Plus have had 2 large hail claims in last 3 years.

For health insurance, we went on the Colorado state exchange and have gotten very good pricing with BCBS. Huge deductible but good pricing.