Did your car insurance go up?

[turkeyrun]

Lumber up 100%
Used vehicles up 33%
Inflation 10%


Insurance IS going up, replacement costs are up.

Taxes ALWAYS go up.

HOA dumber than a Dem evil step mother.

You medical, why pay for medical on your car insurance?
Haven't had a claim? Why have a small deductible? $250 vs $600; you are buying $350 of insurance @ $100 for 6 months, $200 per year. Let that sink in.


Insurance is a racket, required by goobermint that we participate. Get the absolute minimum, put the extra in savings and pay yourself.

 

[GeneW]

Yeah my auto insurance went up 12% back in March, comes due again in September, and I expect to get the shaft again.

Both of my vehicles are older. A 15 year old Camry which is my daily driver, it's not worth much now. I also have a 23 year old S-10 pickup (bought new in 1999) that I keep around for trips to home depot, lowes, the garden center, that's pretty much it, it gets driven maybe 250 miles per YEAR, yet the insurance is high IMO.

I'm looking at getting a much newer used car later this year, and I can't imagine what the insurance will be on it.

It's ridiculious.

I guess we have to pay for all those constant incessant never ending stupid silly irritating tv commercials from all those companies.

 

[OKRuss]

Forced to purchase a financial instrument because one can not afford their lifestyle.
I could not imagine willingly handing over my freedom for so little of a payoff.
Can not understand why most do and then complain about their choice.
Baffling............

So, are you saying we should drop our homeowner's insurance then if we get hail damage or house blown away from a tornado just pony up from our savings/investments to repair or rebuild? I guess same with cars. Just have liability or minimum required by law then if you cause an accident just pay the millions in a lawsuit from our savings/investments?

Sorry, but not following your post.

 

[SlugSlinger]

Our insurance is renewing in July. It's a 6 month policy, it was 12 month but the 12 month is not offered after Covid. The policy premium dropped from $963 to $852 in January 2022. The July policy premium is the same, $852.
We have collision, comprehensive, high liability coverages and a mid-range deductible on 3 vehicles.
2-2017 vehicles, 1-2008 vehicle that is my toy, paid cash for all.

And if you don't carry a good amount of liability coverage and have any a decent amount of assets, you might consider increasing your liability coverage!

 

[SlugSlinger]

Our home and auto bundled policies went up over 20% and our agent said it was mostly due to the storms. Of course WE didn't have any claims but someone has to pay for it all right?!?! They only have an annual revenue of $50 Billion so gotta be billed back to the consumer.

Allstate annual revenue for 2021 was $50.588B, a 20.71% increase from 2020. Allstate annual revenue for 2020 was $41.909B, a 0.89% increase from 2019. Allstate annual revenue for 2019 was $41.541B, a 4.34% increase from 2018.

What was their net income. Revenue is really meaningless without the additional financials.

Found it. Net income dropped from $546M to $148M from 2020 to 2021. The cost of doing business went up faster than the revenue.

 

[Lineman]

ALL insurance is going up, not just property. We won't realize the storm damage from this year from an insurance perspective till maybe next year. Much of it is inflation based. The insurance carriers aren't making the money they were on their investments and they'll make up for it to please stockholders. I will say that with respect to auto claims, those are increasing significantly. Supply chain issues are making it worse. I'm basically on my 5th week of a rental because we cannot get parts for our SUV after a lady rear ended my wife. I'm seeing 65K+ trucks getting totaled because they can't find parts to fix them. Having a tough time to find the replacement too.


Yep, it's Brandon.

GM still hasn’t issued a recall for transmission failure before warranty even runs out. Bascailly was told to keep receipt for if/when they do. You’ll get stuck paying $6k and hoping they issue a recall.

 

[SlugSlinger]

GM still hasn’t issued a recall for transmission failure before warranty even runs out. Bascailly was told to keep receipt for if/when they do. You’ll get stuck paying $6k and hoping they issue a recall.

New car buyers are being asked to sign waivers related to part failures. The manufactures cannot get replacement parts because they don't have enough for the new vehicles.

 

[JD8]

Lumber up 100%
Used vehicles up 33%
Inflation 10%


Insurance IS going up, replacement costs are up.

Taxes ALWAYS go up.

HOA dumber than a Dem evil step mother.

You medical, why pay for medical on your car insurance?
Haven't had a claim? Why have a small deductible? $250 vs $600; you are buying $350 of insurance @ $100 for 6 months, $200 per year. Let that sink in.


Insurance is a racket, required by goobermint that we participate. Get the absolute minimum, put the extra in savings and pay yourself.

Can you explain this a little better? Especially the first bolded sentence.

 

[OK Corgi Rancher]

My coverage went up quite a bit when I moved from Olustee to Ada.

I have full coverage on my 18 Cruze and 17 F250. The Cruze is fairly reasonable...$348 for 6 mos. The F250, on the other hand, is almost twice that at $674 for 6 mos. I have good credit, good driving history and a sparse claim history.

 

[SoonerP226]

What was their net income. Revenue is really meaningless without the additional financials.

Found it. Net income dropped from $546M to $148M from 2020 to 2021. The cost of doing business went up faster than the revenue.

View attachment 275645

Yeah, I remember a few years back when one of the big oil companies (Exxon-Mobil, maybe?) reported over $100B in revenues, and the pundits were wetting themselves talking about the Evil Oil Company(tm) making record profits.

Turns out that they were actually turning around a $1B profit on over $100B in revenue. That ain't "record profits," that's "barely keeping the lights on," but never let the truth get in the way of a good story.