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Started By
Message
Car Insurance
Posted on 11/9/13 at 10:44 am
Posted on 11/9/13 at 10:44 am
Why do my rates go up 12% a year as the value of my vehicles depreciate 15% per year.
What the frick kind of scam is this???
It's like they're telling me I need to cause $5,000 worth of damage every two years just to break even and make it "worth it".
What the frick kind of scam is this???
It's like they're telling me I need to cause $5,000 worth of damage every two years just to break even and make it "worth it".
2
Posted on 11/9/13 at 10:56 am to ell_13
How old are you and what's your driving record like?
Posted on 11/9/13 at 11:00 am to VABuckeye
Wife and I are 26. One wreck 2 years ago. No tickets for either of us. Wife in a wreck 7/8 years ago. I was at fault; she wasn't.
ETA: I've been with the same company for 6 years. My wife was added 2 years ago.
ETA: I've been with the same company for 6 years. My wife was added 2 years ago.
This post was edited on 11/9/13 at 11:06 am
Posted on 11/9/13 at 11:22 am to ell_13
Every insurance company looks at the last 3-5 years of your driving record and every insurance company will raise rates to keep up with inflation and their costs on certain vehicles.
Bottom line. Any rate increase is inconvenient, but stay with somebody who you trust and level with regarding rate increases... Just my thoughts as an owner of an insurqnce company. Hope that helps.
Also certain insurance companies are not so good in their core philosophy of paying out claims. You have insurance for 3 reasons:
1- it is the law
2- to protect others and their vehicles
3- most importantly to protect your assets from lawsuit- because if your limits of insurance are exhausted then that party can sue you and come after most everything you have. Having good insurance protects your investments and all of your portfolio- that is what I tell my clients, just bc i see these stories frequently...
Bottom line. Any rate increase is inconvenient, but stay with somebody who you trust and level with regarding rate increases... Just my thoughts as an owner of an insurqnce company. Hope that helps.
Also certain insurance companies are not so good in their core philosophy of paying out claims. You have insurance for 3 reasons:
1- it is the law
2- to protect others and their vehicles
3- most importantly to protect your assets from lawsuit- because if your limits of insurance are exhausted then that party can sue you and come after most everything you have. Having good insurance protects your investments and all of your portfolio- that is what I tell my clients, just bc i see these stories frequently...
Posted on 11/9/13 at 11:28 am to Sdento1
The percent increase it what gets to me really.
And I probably wouldn't feel the need to vent this bad if I didn't have a newborn coming this week.
This means higher health insurance, no income from the wife for at least a year, other costs.
Don't get me wrong, we're well prepared for all of that, but spending less money > spending more money for the same coverage on less valuable assets.
And I probably wouldn't feel the need to vent this bad if I didn't have a newborn coming this week.
This means higher health insurance, no income from the wife for at least a year, other costs.
Don't get me wrong, we're well prepared for all of that, but spending less money > spending more money for the same coverage on less valuable assets.
Posted on 11/9/13 at 12:56 pm to ell_13
Shop around, I just cut my rate in half for identical coverage. Your current insurance will always raise your rate, never decrease it. I had a ticket that should have dropped off over a year ago and they never lowered my rate. Switched companies and it plummeted.
Posted on 11/9/13 at 1:05 pm to jcole4lsu
Mind saying who you were with and who you switched to?
Posted on 11/9/13 at 1:13 pm to ell_13
Old: unitrin
New: USAA
Geico had a competitive quote as well.
New: USAA
Geico had a competitive quote as well.
Posted on 11/9/13 at 2:33 pm to jcole4lsu
Kemper or Unitrin?
Posted on 11/9/13 at 2:39 pm to Paul Allen
unitrin
Posted on 11/9/13 at 3:54 pm to Paul Allen
quote:
Kemper or Unitrin?
Didn't all of Kemper rebrand under the Unitrin name?
Unitarian Specialty is still the almost non-standard independent one in LA . Kemper/Unit is big in Texas.
Posted on 11/9/13 at 5:13 pm to Slickback
quote:
Didn't all of Kemper rebrand under the Unitrin name?
I thought they're 2 separate entities.
Posted on 11/9/13 at 11:21 pm to ell_13
44/month USAA... Full coverage 
Posted on 11/10/13 at 7:24 am to DaBeerz
I'm not USAA eligible, but we're in Houston and use Liberty Mutual. They crushed Geico when I combined car/homeowners/umbrella.
Posted on 11/11/13 at 8:54 am to jglass3lsu
I switch companies every 2-3 years as you can bank on your rates going up and like some previously said they will never go down.
Posted on 11/11/13 at 3:31 pm to DaBeerz
quote:
44/month USAA.
Did you miss a digit in there???? $44/month
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