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Started By
Message
Auto insurance increase without reason
Posted on 10/23/17 at 4:29 pm
Posted on 10/23/17 at 4:29 pm
Hi Everyone,
Geico increased my auto insurance premium on two cars by $100 for 6 month policy. This is for no apparent reason. No tickets, nothing. Anyone else faced this situation? Have premiums increased in last 6 months?
Any suggestions for alternatives? I checked with Progressive and Geico was still cheaper after premium increase.
Geico increased my auto insurance premium on two cars by $100 for 6 month policy. This is for no apparent reason. No tickets, nothing. Anyone else faced this situation? Have premiums increased in last 6 months?
Any suggestions for alternatives? I checked with Progressive and Geico was still cheaper after premium increase.
33
Posted on 10/23/17 at 4:31 pm to jazzybee
quote:
for no apparent reason
this is effing hilarious.
Posted on 10/23/17 at 4:31 pm to jazzybee
Assuming you live in South Louisiana, last year's floods are probably to blame.
This post was edited on 10/23/17 at 4:33 pm
Posted on 10/23/17 at 4:32 pm to jazzybee
quote:
I checked with Progressive and Geico was still cheaper after premium increase.
This happened to me as well. Geico is still wayyy cheaper than the competition so what is there to do?
Posted on 10/23/17 at 4:32 pm to jazzybee
The whole state has seen increases this year. More are coming in 2018 so get used to it. No major insurer is immune to the increases and in many cases, they have nothing to do with your individual driving record. It's all about the cost of litigation, healthcare, parts & labor, and uninsured motorists increasing in Louisiana over the last few years. It's coming to a head that's popping its nasty juice all over Louisiana drivers this year and next.
Yay!
Yay!
Posted on 10/23/17 at 4:34 pm to TDsngumbo
You can thank Gordon McKernan, Morris Bart, Bart Bernhard, Dudley Debosier, etc.
Posted on 10/23/17 at 4:34 pm to jazzybee
Liberty Mutual went up on my auto insurance about $25/month a couple months back with no explanation.
Posted on 10/23/17 at 4:34 pm to jazzybee
quote:
Any suggestions for alternatives?
Become an anarcho capitalist. Where we're going, we don't need roads.
Posted on 10/23/17 at 4:36 pm to TDsngumbo
My Allstate agent told me rates went up statewide.
Posted on 10/23/17 at 4:41 pm to jazzybee
Most car insurance companies have gone up recently. Nothing against your driving individually, but related to their claim losses as a whole. Cars are more expensive to fix nowadays thanks to all the added bells and whistles like parking sensors, backup cameras, lane keep assist, and so on. Plus you can't turn on the TV or take a drive without seeing injury attorney ads encouraging people to call them for any accident. Add in the major floods in LA last year, and you have your reason as to why your car insurance went up despite not getting into any accidents or tickets.
Posted on 10/23/17 at 4:43 pm to jazzybee
My premiums went up similarly with geico. I was wondering why. The flood didn’t occur to me, but it makes sense.
This post was edited on 10/23/17 at 4:44 pm
Posted on 10/23/17 at 4:44 pm to jazzybee
yep, mine went up too.
unfortunately, geico is still cheapest
unfortunately, geico is still cheapest
Posted on 10/23/17 at 4:45 pm to TDsngumbo
I've seriously considered switching to Go Auto or The General last time I had to renew. May actually go through with it next time.
Posted on 10/23/17 at 4:49 pm to Steauxn
quote:
Assuming you live in South Louisiana, last year's floods are probably to blame.
...or the too numerous to count multiple DUI offenders in line at the drive thru daiquiri shack
Posted on 10/23/17 at 4:50 pm to jazzybee
quote:
Without reason
Clark Howard did a public service announcement a few weeks ago about how else we can expect ALL insurance premiums (all types of insurance) to increase to cover the costs of the 2017 hurricane season.
Posted on 10/23/17 at 4:53 pm to jazzybee
quote:
Have premiums increased in the last 6 months?
Never known them to decrease baw. But specific to your question, it’s likely due to the large increase in weather related claims in the past couple of years. Not sure about LA, but it’s been ridiculous here in SC. All insurers in SC were approved for rate increases in 2017 and they weren’t small.
Posted on 10/23/17 at 4:54 pm to jazzybee
There was a great article in the wsj or barrons about car insurance increases. Insurance companies raise rates on customers that don't leave in higher amounts and with more regularity. The data shows if you don't change companies every 2 or 3 years you're not going to change.
Posted on 10/23/17 at 4:54 pm to jazzybee
This is how pooled risk works.
Posted on 10/23/17 at 4:56 pm to jazzybee
call them up and negotiate, if they won't, 86 them and move on, I had to do that with USAA after a couple of rounds of that, I still make my agent shop around every six months to make sure I'm getting the best rate, because I'm a good client(never file claims.)
Posted on 10/23/17 at 5:01 pm to slackster
In Mississippi and Louisiana we are seeing increases statewide from 5-12% due to losses in those states. Distracted driving is causing accidents to go up. The price of the average repair has doubled in the last three years alone. Expect to see increases the next seven years or so but industry leaders expect to see a decrease in premiums after that due to widespread driving automation. Most industry leaders expect auto premiums nationwide to be half what they are today in 2030
As for swapping every six months or a year I can tel you insurance companies rate you much higher if you are not with your prior carrier very long. By all means make sure your not getting ripped off but try not to swap but every 3-5 years if you can.
As for swapping every six months or a year I can tel you insurance companies rate you much higher if you are not with your prior carrier very long. By all means make sure your not getting ripped off but try not to swap but every 3-5 years if you can.
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