Why car insurance getting so expensive now?

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Current Events » Why car insurance getting so expensive now?
At least in California

Allstate raised my rate by $400 for no reason at all
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Either car thefts or high amount of car collisions in your area or you're a bad driver
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ShineboxPhil posted...
Either car thefts or high amount of car collisions in your area or you're a bad driver

Didn't have an accident in almost 10 years so definitely not me being a bad driver
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Because they know we don't have a choice, aside from which company. Most of us literally just give them free money every month and they never have to actually do anything.

Since I've had my license, Progressive has literally done one thing: they sent a guy out to give a jump so I could drive to Kia. Since 2007. That's it.
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Kia Boyz
after years of waiting
nothing came
Capitalism is seeking to beat us down until we dont have the energy to rebel.
No lollygaggin'.
Because geico cavemen got mad and left
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Is anyone else with you in your insurance, and did something happen to their car? $400 is a lot.

Something happened to my mom. They raised her insurance, but they brought up an accident from years ago. it was weird
Less is more. Everything you want, isn't everything you need.
If you have a GM car with on star, they've been selling your driving record to lexis nexis which is selling it to insurance companiea which are raising rates based on hard braking or hard acceleration.
They watched other industries price gouge and are just now realizing they can do it as well
I don't believe in belts. There should be no ranking system for toughness.
More and more cars have distance sensors in the bumpers, which are a great feature, except it makes even minor bumper repairs much more expensive.
Being in California it probably has a lot to do with climate change and natural disasters.
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Hickey_Blvd46 posted...
At least in California

Allstate raised my rate by $400 for no reason at all
Cars are more complicated than ever
Fewer mechanics than demand
Fewer auto body shops than demand
No one young wants to learn to wrench or collision repair
????
$$$$$$$$

Also,.I really truly mean this, move out of California, you'll make more income with fewer income taxes, significantly cheaper cost of living, lower sales taxes, and enjoy overall less crime and shenanigans that's only in California.
TheSuperSilver posted...
Being in California it probably has a lot to do with climate change and natural disasters.
Home insurance companies are getting ruined by mandatory wildfire Insurance in some areas
Have you ever noticed late model wheels on older generation cars? Wheel theft is getting ridiculous in a lot areas in the US.

Modern headlights and tailights communicate with the CAN bus and are crazy expensive.
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Car insurance seems to also be based on credit. When I had bad credit years ago, my insurance with my State Farm (the lowest I could get from all companies) was higher. When I paid off the debt, it suddenly dropped $40 at renewal time. I hadn't moved so that wasn't it. Discounts never changed, driving record was the same. Best they'll tell you is "it's a variety of factors" but your credit isn't one you'd think would be involved in it.
Why is it that the world can't spell "lose" or "woman" right???
They were jealous of other industries jacking up prices 50-100% and wanted in on that action.
https://imgur.com/a/FU9H8 - https://i.imgur.com/ZkQRDsR.png - https://i.imgur.com/2x2gtgP.jpg
Scam

/topic

In all seriousness most of the insurance companies I'm aware of punish you for actually using your insurance. The amount of money I pay per year is far more than the money they ever have to spend on me. Yet I'm required by law to get insurance if I want to drive my car.
Always shop for better rates at renewal time.
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My car insurance has gone from $900 per 6 month to $5k per 6month in the span of 3 years.

No claims, no accidents, its just the facts of life.

There are 0 reasons to not have all insurance nationalized.
http://i.imgur.com/hI4hAMb.jpg
Price gouging is perfectly legal and fine now
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Krojen posted...
My car insurance has gone from $900 per 6 month to $5k per 6month in the span of 3 years.

No claims, no accidents, its just the facts of life.


That's hard to believe. Did you add on drivers or buy a new car?

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$325 in Florida for 6 months.
I was born when she kissed me. I died when she left me. I lived a few weeks while she loved me-
Hickey_Blvd46 posted...
At least in California

Allstate raised my rate by $400 for no reason at all
Damn son what are you driving?

I live in SoCal and pay $116, but I drive a 91 Nissan 240sx.
Useless "Captain" Mid
Allstate tried upping our rates considerably too. I don't remember exact numbers, but it would have been close to tripling over the course of two years, with the last jump being a doubling.

I switched to Liberty Mutual and paid less for a full year than Allstate would have been for just six months.
Krojen posted...
My car insurance has gone from $900 per 6 month to $5k per 6month in the span of 3 years.

No claims, no accidents, its just the facts of life.


I hope you switched instead of paying that. They'll keep raising your rates if they think you won't switch.

Inflation! Car insurance supply is running low so they have to raise prices to cover their struggling profits.
Rage is a hell of an anesthetic.
Krojen posted...
My car insurance has gone from $900 per 6 month to $5k per 6month in the span of 3 years.

No claims, no accidents, its just the facts of life.

There are 0 reasons to not have all insurance nationalized.

When you put this way, we need to see

Insurance company revenue from premiums and from investments

Insurance company payouts to insureds and to their lawsuits

Insurance company payouts for law suits brought against the company

Insurance company donations to Trump and other politicians.
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Krojen posted...
My car insurance has gone from $900 per 6 month to $5k per 6month in the span of 3 years.

No claims, no accidents, its just the facts of life.

There are 0 reasons to not have all insurance nationalized.

The fuck? That's like 830 a month. What the hell do you drive? Jesus
More to do with the humidity than heat
I now pay 300 a month for a 2020 civic.
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Because you live in a bad place
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Remember all those stories about car thefts (especially Kia Boys) and on a related note, retail theft?
How the glib left wing response was, "don't u have insurance, bro?"

Well, guess what happens when a shit load more people start making insurance claims!

And yeah, in the last 2 years my insurance has gone up 70% despite no accidents or claims. And because I have a Hyundai, I might not even be able to change insurance, b/c apparently a lot of them are refusing to cover them for new customers. Hurray!
cause they can
streamofthesky posted...
Remember all those stories about car thefts (especially Kia Boys) and on a related note, retail theft?
How the glib left wing response was, "don't u have insurance, bro?"

Well, guess what happens when a shit load more people start making insurance claims!

And yeah, in the last 2 years my insurance has gone up 70% despite no accidents or claims. And because I have a Hyundai, I might not even be able to change insurance, b/c apparently a lot of them are refusing to cover them for new customers. Hurray!
That's not why insurance costs are up. Retailers were claiming that retail theft was why they were closing stores and jacking up prices, but it turns out thefts amounted to a negligible amount of loss. It was just an excuse to squeeze out more profits and you're eating it up.
https://imgur.com/a/FU9H8 - https://i.imgur.com/ZkQRDsR.png - https://i.imgur.com/2x2gtgP.jpg
they should be lowering his rate. they did the same shit to my uncle (trying to raise rates) despite never getting a ticket or anything that would look poorly for him.

it's greed. plain and simple.
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CobraGT posted...
When you put this way, we need to see

Insurance company revenue from premiums and from investments

Insurance company payouts to insureds and to their lawsuits

Insurance company payouts for law suits brought against the company

Insurance company donations to Trump and other politicians.

Doesn't matter.

It goes up because they say it goes up.

What can you do about it? Nothing. So then they can make it go up.

The only way it can sorta go down is if another company joins in and is like "oh I can make my rates so much lower!!!"

but if no company does that then it doesn't matter

The free market theory is that a company will always want to do that and provide the cheapest rate to get all the customers....
that only works in theory

it turns out that all the companies basically having nearly the same rate and monopoly is actually what makes the most money
and if a new small company tries to provide a lower rate you just buy them out or harass them out of the market
People drive like shit
Quit Crying
Post #38 was unavailable or deleted.
Sunburst posted...
That's hard to believe. Did you add on drivers or buy a new car?
Pricing mentioned is for the same Model Y. 1 driver. Same car used to be $900 6/mo.

Jeremy517 posted...
I hope you switched instead of paying that. They'll keep raising your rates if they think you won't switch.

Im trying that this cycle. More companies keep leaving FL so its hard. The big ones are all within 10% of each other. But 10% is 10%.

CobraGT posted...
When you put this way, we need to see

Insurance company revenue from premiums and from investments

Insurance company payouts to insureds and to their lawsuits

Insurance company payouts for law suits brought against the company

Insurance company donations to Trump and other politicians.
Im with ya!

boomgetchopped3 posted...
The fuck? That's like 830 a month. What the hell do you drive? Jesus

metallica846 posted...
Do you drive an Aston Martin?
Price is for the same ole Model Y. Neighbor pays a similar price for his top of the line Toyota RAV4.

I drive Model S now, but all pricing mentioned is strictly for the Model Y alone.
http://i.imgur.com/hI4hAMb.jpg
ViewtifulGrave posted...
Damn son what are you driving?

I live in SoCal and pay $116, but I drive a 91 Nissan 240sx.

I don't even drive anything crazy. Just a Nissan Sentra
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TheSuperSilver posted...
Being in California it probably has a lot to do with climate change and natural disasters.
And being in California
There's a difference between canon and not-stupid.
I have heard many people commenting over the last few months about insurance rates going up. I pay mine for the year in April so I just paid both my vehicle and my housing insurance for the year at the beginning of this month.

I have a great insurance company I have been very very happy with for the last 20 years and never once had a rate hike with them. Even 11 years ago when I got in my first and only accident of my life that was my fault I figured it would go up but after buying my new truck it stayed the same because they said my newer truck had more safety features that offset any small rise I would have had.

Previously an EF-5 Tornado back in 2008 caused hail damage to the roof of my house and it needed a complete replacement and they paid for that and never raised my rate at all. It was considered an "act of god" and they never held it against me.

So the point is I have had a great company. This year my truck insurance went from $750 for the year to just under $1,000. Jumped almost $250 for no reason. First time ever. My housing insurance went up a decent amount too.

I have friend in places like Florida that are having a hard time getting insured at all. Insurance companies are pulling out of areas and a lot of stuff is going on that is causing disturbances in the market. It has happened to a number of people I know.

My rates are still reasonable, but they definitely went up.
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What I've heard is that it's because of number of car thefts in a given area, on top of car manufacturer. Kias and Hyundais are getting stolen and joyridden into accidents, used for robberies in my city like crazy. Ad a result, all our insurance has gone up, on top of Kias and Hyundais being insanely expensive to insure now.
Capitalism
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Mines been going up 10 bucks a year for no reason. Gonna start shopping around.
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Just did a quick Google, and the insurance companies claim it's because replacement parts are getting more expensive and payouts are getting higher. Also inflation (independent of the other two)
That is their claim, anyway.
SauI_Goodman posted...
Mines been going up 10 bucks a year for no reason. Gonna start shopping around.


basic insurance is all that is needed unless the car is really new... really costly to replace due to another driver.
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pretzelcoatl posted...
What I've heard is that it's because of number of car thefts in a given area, on top of car manufacturer. Kias and Hyundais are getting stolen and joyridden into accidents, used for robberies in my city like crazy. Ad a result, all our insurance has gone up, on top of Kias and Hyundais being insanely expensive to insure now.

https://www.marketwatch.com/guides/insurance-services/insuring-your-kia-or-hyundai/

"What? Throw the car thieves in jail and solve the problem? Nah, they're precious little angels who don't know any better! Let's just make life miserable for every Hyundai and Kia owner in America, and anyone else whose car gets crashed into by one of them when they're stolen. I'm allegedly a logical functioning adult!"

"Just get insurance, bro"

Yeah, this topic is just gonna be me griping about how bs this all is b/c I know nothing (lock the fuckers up!) is gonna ever be done. If stealing Kias, joy racing them, and murdering innocent pedestrians didn't get the DAs to do shit about it, nothing is going to.
They're saying new car prices got so high during the pandemic so they're playing catch up. Thing is that some of the prices are beyond absurd.
SEXY SEXY!
LightningThief posted...
Scam

/topic

In all seriousness most of the insurance companies I'm aware of punish you for actually using your insurance. The amount of money I pay per year is far more than the money they ever have to spend on me. Yet I'm required by law to get insurance if I want to drive my car.
Wrong, I filed a claim, got $4500 worth of damage caused BY ME completely covered, and some Lexus SUV with $200 of damage fixed, my rates stayed the same
Current Events » Why car insurance getting so expensive now?
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