Car Insurance Rate Hikes

9outof10mms

9outof10mms

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Anyone else getting hiked? I'm with State Farm and just got a notice a couple weeks ago that my rate is going up by about $20 per month (16% increase). Perfectly clean record. I finally got around to calling today to ask "what the heck" and they say it's the state of NC that's adjusting rates back up after COVID. I remember getting like a $5-$10 reduction during COVID. But...check my math here, 'cause I might be a little rusty...a $10 reduction followed by a $20 increase, that doesn't math out.

They were gracious enough to offer me a 5% reduction if I were willing to install the monitoring device in my vehicles. I graciously declined.

I shopped for insurance about 2 years ago and while State Farm was higher on one end (either house or cars, can't remember), they kill it on the other. So it's not worth switching.

I guess I'm supposed to say "thank you" to the great all-being power of the State Insurance Commissioner.
 
Mine came due last month. I stopped by the agent's office to pay and to ask about the increase. She said that there had been an across the board increase because of this and that. But, she said she would look at my account to see if anything was wrong. She said, "Oh, I see that you had a birthday. That was part of your increase." So, by me turning 70 on September 4 put me into another higher risk bracket with all of the other old geezers out there. Golden years, my butt!
 
Auto, home and umbrella policy went up. My agent said it was across the board in North Carolina due to increased claims. Auto was $200, home was $75.00, umbrella $100.00. No accidents or any claims.
 
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I called yesterday to help my son get a vehicle policy and asked why all my policies went up. We have Allstate. They said everyone’s went up across the country.
 
Does anyone recommend an indepeant insurance broker who can shop policies with different providers? Getting married next month and would be a good time to reevaluate and combine policies with the bride
 
Reagan98 said:
I was informed of this a few months ago by my Farm Bureau agent. Just keeping up with inflation.
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Heard the same thing when I was discussing adding my son and another car over the last two months. He said:

Once the policy renews in March, that monthly premium will drop back down. Although, I did receive an email this morning from home office and it sounds like a rate increase is coming, effective 1/1/23. This would be across the board but how much of an impact will vary account by account. Even though the rate increase isn’t until 1/1/23, it will not impact your premium until the March renewal.

(The “drop back down” is an answer to my question about the monthly bill being higher than the quote…but it was just an issue with pro-rating the increase from adding him.)
 
Car and house both up. Same explanation as everyone else. Car insurance was an across the card increase in NC. House is due to increase rebuilding cost in case of a fire or other calamity.
 
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My car went up with farm bureau whenever the new contract period was. Haven't heard about the house yet but I assume it will as well in the new year.

Took awhile to get a hold of my agent (I probably need to change agents) and he said NC increases. They also changed my auto insurance to pay quarterly (I was monthly) and was not given a discount for it.

Like others have said everything is going up, unfortunately have to shop insurance every few years. Wish I could shop internet the same; signed my wifes name under spectrum and saved $30 a month because she's a "new subscriber" I guess 3 years in my name doesn't mean anything.
 
9outof10mms said:
It's funny to get all these different stories. They have no real clue--they just pull stuff outta their butts to try to appease the masses.
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They all just spin it differently. They had more expenses than planned so they need to adjust rates upward. They present this to the insurance commission and the commission approves it.
 
Definitely shop around. I am with Progressive and got a quote from Geico for about 60% of what I was paying.

I called Progressive and asked them to beat it or I was gone and they did. It was the same coverage as I had before for less than half the price.

It is entirely possible I was paying being screwed for twice as much as was needed before I shopped around, but they worked with me. It never hurts to ask.
 
When I moved here end of January, I had to switch before the end of February or I would have lost my accident free discount. Some change that was made to take effect in March that discounts would no longer follow state to state transfers. Probably because of everyone leaving the communist states
 
No accidents or points NC Farm Bureau says increase in repair parts and paint increased it 16%. Home owners went up due to the $100k it would take to rebuild at current cost. I initiated the revaluation when I looked at what Zillowjad for my comp. I’m still 50k away from an estimate they gave for house value but there is a 20% lead way.
 
np307 said:
Ours with GEICO went up last year as they adjusted to car prices inflating (and thus cost of replacement going up).
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I hear that every year.. so about every 2-3 years I go shopping and find that I can get equal or better coverage for less.
It is called lowball to get you in and creep up until you leave.
There is no advantage to being a good paying customer for years.
 
I've been with Nationwide for 30 years. They just went up on my home and auto. I switched to Spivey in Monroe. They got me more coverage for about half of what I was paying Nationwide through Erie.
 
I renewed 6 months ago and the renewal had a footnote about the very apparent increase being due to the NC insurance commission's meddling. Glad we have this bureaucratic agency looking out for our interests.
 
Maybe not their paying customers , but I've a suit filed from 2 years ago against usaa for the value of my vehicle one of their insured schmuckS totaled.















So screw them.
 
Hmmm...thats not a happy sound. I could say same about state farm schmuck but I use full coverage and get paid. After that I don't care how long it takes to subrogate. I'm in a new car.
 
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They’re all the devil. Only reason I’m with State Farm is an old friend who was a fire/water restoration guy. He said most agencies’ adjusters will argue and haggle over big losses (like a fire). State Farm, he says, shows up and just says “how much.” Much easier to deal with and far more fair when it comes to just tear it down and replace versus trying to make damaged structure work.
 
nhusa said:
I hear that every year.. so about every 2-3 years I go shopping and find that I can get equal or better coverage for less.
It is called lowball to get you in and creep up until you leave.
There is no advantage to being a good paying customer for years.
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I called around and nobody could beat what I was paying with the rate increase for the amount of coverage I had, so I stayed.
 
Sharps40 said:
Hmmm...thats not a happy sound. I could say same about state farm schmuck but I use full coverage and get paid. After that I don't care how long it takes to subrogate. I'm in a new car.







Yup when it requires 3 back surgeries and and a 60k vehicle, and usaa not wanting to pay a damn dime, it's not that easy

BUT you and everything you have and deal with is perfection
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Nothings perfect and your self pitying poke in the eye is forgiven.
 
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SPST said:
I've been with Nationwide for 30 years. They just went up on my home and auto. I switched to Spivey in Monroe. They got me more coverage for about half of what I was paying Nationwide through Erie.
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Did they work with you in person or over the internet?
 
Frack N Cylons said:
Definitely shop around. I am with Progressive and got a quote from Geico for about 60% of what I was paying.

I called Progressive and asked them to beat it or I was gone and they did. It was the same coverage as I had before for less than half the price.

It is entirely possible I was paying being screwed for twice as much as was needed before I shopped around, but they worked with me. It never hurts to ask.
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I hear these types of stories about insurance, internet bills, etc all the time. Yet, every time I offer to take my money elsewhere, these companies are full on "Pft. bye Felicia".
 
Sure ain't self pity. Its stating a fact that usaa sucks and will do anything to not pay what they are paid to do.



















I have med bills that THEY owe and aren't paying. SO YOU DO YOU AND I DAMN SURE DONT WANT NOR NEED YOUR FORGIVENESS FOR ANYTHING.
 
PisgahPlinker said:
Does anyone recommend an indepeant insurance broker who can shop policies with different providers? Getting married next month and would be a good time to reevaluate and combine policies with the bride
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I think this is a good idea. Here's what convinced me.

In 2005 I bought a new motorcycle. Based on all the ads I'd seen for Progressive I did an online quote. The same day, while I was out for lunch, I stopped by to see a local agent I had seen at a few motorcycle shows. For the same driver, same motorcycle, same coverage, all with the same company, he quoted me about 20% less than my online quote 2 hours earlier.

A year later a co-worker bought a motorcycle. Got an online quote with Progressive. Then he asked me what I did for insurance. He then went to the local agent and had the same experience I did.

I'm sure some of you guys are smarter than me and have more insight to the insurance industry. But I'm not searching through all the different companies looking for the proper coverage at a fair price. I've got a guy................

.
 
SPST said:
I've been with Nationwide for 30 years. They just went up on my home and auto. I switched to Spivey in Monroe. They got me more coverage for about half of what I was paying Nationwide through Erie.
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I swapped to Liberty Mutual from Nationwide last year after almost 30 years because of 3 teenage drivers. Homeowners was about the same but auto dropped by 25%. I had one claim with Nationwide for homeowners 4 years ago and they were fantastic to deal with. Unfortunately, both daughters had wrecks in the last couple months and I haven't seen what rates will increase to with Liberty. They we terrible to deal with on a water leak at our house and I am paying for all the damage out of pocket.
 
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