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Massive auto insurance increases.

Otisporkchop

Otisporkchop

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I’m insuring 5 vehicles with 4 drivers in the house, yes one of them is 16. I got hit with a 25 percent increase in the last year no accidents tickets or claims. I’ve been shopping around and everyone else is even higher. Curious if anyone else has seen steep increases?
 
I'm with USAA, which is actually lowering rates ever so slightly where I live. But they're an outlier. Most insurance companies, as I understand it, are raising rates dramatically.
Inflation
Increased medical costs
Increased repair costs (both labor and materials)
Increased replacement costs
 
My auto insurance renewed on August 15th and we had a very small increase. The premiums were based on 12k miles per year for my truck and 8k per year for my wife's car. I updated the mileage to 7k and 6k and my rate dropped by $28 per month.
 
Idahoktm said:
My auto insurance renewed on August 15th and we had a very small increase. The premiums were based on 12k miles per year for my truck and 8k per year for my wife's car. I updated the mileage to 7k and 6k and my rate dropped by $28 per month.
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If you do t mind me asking who are you using?
 
Mine have remained consistent, but I have multiple vehicles and home with Geico (for now). I have no young drivers on the policy, and have an accident 1.5 years ago that was $9300 in repairs.
 
Use Liberty Mutual...no significant changes over the last few years. Renewed last month, premium increased by about $48
 
Kumba1010 said:
Use Liberty Mutual...no significant changes over the last few years. Renewed last month, premium increased by about $48
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Liberty Mutual is at least 40% more then what I pay with Arbella, at least in the North East.

Best to check everyone each time you renew imo.
 
Darksteel165 said:
Liberty Mutual is at least 40% more then what I pay with Arbella, at least in the North East.

Best to check everyone each time you renew imo.
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I saw similar differences between Liberty Mutual and Grange Insurance when we renewed earlier this month. Needless to say we stuck with Grange.
 
Otisporkchop said:
I’m insuring 5 vehicles with 4 drivers in the house, yes one of them is 16. I got hit with a 25 percent increase in the last year no accidents tickets or claims. I’ve been shopping around and everyone else is even higher. Curious if anyone else has seen steep increases?
Click to expand...
Did your policy get "re-scored" this year? Some insurance companies use Lexis-Nexis to obtain your "insurance" score, and the adjust your rate based off the score they obtained from Lexis.
Did your policy come with an "adverse" decision letter?
 
Idahoktm said:
My auto insurance renewed on August 15th and we had a very small increase. The premiums were based on 12k miles per year for my truck and 8k per year for my wife's car. I updated the mileage to 7k and 6k and my rate dropped by $28 per month.
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Will you drive under 7K (5000 miles a year LESS) and 6K respectively????
 
GregHBNA said:
Will you drive under 7K (5000 miles a year LESS) and 6K respectively????
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Both of us drive about 5k per year, but I padded them just a little bit. I had 8k per year on both vehicles for years but when I bought my Ram last year, they must have bumped it to 12k...not sure why.
 
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My insurance rates at American Family have remained steady for many years. They even dropped about $20 a month during the pandemic saying they were passing on their savings due to much less claims because people were driving less. Only time they went up was for adding a new vehicle and that was always a very small amount. Going from my 2017 to 2022 was about $16 month. I expected much more considering how much vehicle values and repairs increased. Every claim we have ever had was taken care of fast with zero hassles.

I’ve shopped around and found cheaper insurance but it’s hard to give up what has been nothing but a satisfying experience with AF. I’m guessing these other companies start you out with very low rates to lure you in and then will jack them up in future years to make up for it. I hate to take that chance. Seen it happen far too much with other services.
 
GregHBNA said:
Did your policy get "re-scored" this year? Some insurance companies use Lexis-Nexis to obtain your "insurance" score, and the adjust your rate based off the score they obtained from Lexis.
Did your policy come with an "adverse" decision letter?
Click to expand...
Not sure no letter last 6 months renewal was $50 bucks per month, this 6 month renewal went up $150 per month. Like I said no accidents tickets or claims no change in our credit scores. I started off with geico at $800 per month for all 5 vehicles now it’s $1050 each month. Got a quote from liberty mutual a whopping 24k per year no policy changes.
 
mikeru82 said:
I saw similar differences between Liberty Mutual and Grange Insurance when we renewed earlier this month. Needless to say we stuck with Grange.
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Liberty mutual quoted me 24k per year for the 5 vehicles I laughed before I hung up on them!! Liberty bibaty bla bla bla.
 
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