Auto Insurance

[Skywagon]

Just got my auto insurance renewal.  Went up 28% over last year.  No tickets, no wrecks, no claims.  Been with the same company since 1977

[MikeB60]

Just went through this as well. Never used an agent in the past but I did for the renewal.  The agent said that repair costs and parts have increased significantly and that all insurers have raised rates. USAA is completely uncompetitive anymore and he explained that as well.  Their corporate model is focused on the military and they write policies to anyone with an affiliation. Depending on location an I'm near a large Army post lots of high risk drivers and loads of claims. 

[dduelin]

It's good practice to shop around every few years. I don't think I've been with any carrier more than 5 years since 2005 when State Farm screwed over many homeowners in my state. I had been with them since 1973 starting with motorcycles, then cars, homes, boats. Ironically I'm beginning a 3rd year with State Farm a second time around. If you are a desirable customer you'll get a nice decrease in rates every 3 to 5 years as the next one is eager to price you away from the incumbent. Yes, they take a small increase each year to get you back in a more profitable (to them) position but by that time it's time to shop and move on. I've been with SF, Geico, Progressive, Allstate in rotation.

[lkraus]

Bought our 2019 minivan used in late 2019. Even with the miles we've added, the retail and trade in values have gone up 28% since the pandemic started.  It's the first time I've ever had a vehicle appreciate.  No surprise that insurance rates are climbing.

 

[Skywagon]

I don't think it is just inflation on the cars.  The homeowners policy came last week and it actually went down, while on the tax roles (pisser) the house appreciated almost $200,000.  Going insurance shopping tomorrow.

[Darbarian]

All fiat currencies world-wide are moving towards their intrinsic value. This will only accelerate. Adjust your thinking accordingly.