Car Insurance skyrocketing

[MossRoad]

...His employees thanked me for wrecking it.

 

[Hay Dude]

I just got a letter stating my minimum deductible is now $2,500.
Previously it was $1,000.

I bet my premiums didn’t go down a penny.

 

[CliffordK]

This must be why I've driven well over two millon miles without an at fault accident. (It's probably been twice that in my life)This reminds me of a conversation I had at the dinner table in a logging camp; the guy sitting across from me said that statistically speaking, people have an accident every 3 years. Then he said "I've had 3 this year."
I looked at the guy sitting next to me and said "it looks like he's already taken care of yours and mine."

Insurance rates are based on statistics. The question a few posts back was related to EVs and Hybrids having higher accident rates, and my hypothesis was that they spent more time on the road than the average non-hybrid.

Truckers and Hot Shots have unique issues. But they also have a lot of experience from having a lot of time on the roads.

The curve for accident risk is likely very non-linear for people driving 5K miles a year, 1K miles, 20K miles, or 100K+ miles annually. Yet, those with higher miles also have more overall exposure.

Yet, there are likely some drivers that are far safer than others, and they all pay the same rates.

 

[Hay Dude]

Here’s a letter I just received that my homeowners is going up even more.

Im paying $500/month for homeowners now. I paid $180/month when I purchased this home in 2010.

250% increase in 14 years.

My homes value and belongings inside is up about 80-100%.

 

[LittleBittyBigJohn]

Holy Crap! I'm paying $800 per YEAR on the house I just built! That is about what I'll pay for taxes though...

 

[ultrarunner]

Afraid to open the mail because many I know are being non renewed...

The industry is shedding many California policy holders.

Nothing new as one of my best insurance companies was Fireman's Fund and they pulled out decades ago.

 

[jyoutz]

Here’s a letter I just received that my homeowners is going up even more.

View attachment 860049


Im paying $500/month for homeowners now. I paid $180/month when I purchased this home in 2010.

250% increase in 14 years.

My homes value and belongings inside is up about 80-100%.

Wow. That’s crazy expensive. My homeowners policy with Allstate is $1500/year for house and large barn outbuilding. Maybe time to shop other companies?

 

[Hay Dude]

Wow. That’s crazy expensive. My homeowners policy with Allstate is $1500/year for house and large barn outbuilding. Maybe time to shop other companies?

I have shopped it around and they are not the cheapest, but offer excellent coverage & service. There was nothing that offered much savings.
We only have a few remaining companies in PA that insure farmers or farms

 

[jyoutz]

I have shopped it around and they are not the cheapest, but offer excellent coverage & service. There was nothing that offered much savings.
We only have a few remaining companies in PA that insure farmers or farms

I guess your policy must include equipment also? Mine is just structures.

 

[Hay Dude]

I guess your policy must include equipment also? Mine is just structures.

Nope.
Just my farm home and belongings inside.