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Message
Car insurance went up $23 bucks after initial 6 months
Posted on 1/21/19 at 1:38 pm
Posted on 1/21/19 at 1:38 pm
Decided to try another insurance company that quoted me $50 bucks per month less than what I was paying.
The other day I get an email telling me my renewal monthly rate is going up $23 bucks. I’ve had no claims since I’ve been with them, so I sent an email voicing my concerns about the increase. They respond with some BS about market rates going up in my area.
Can Any OT insurance baws tell me if this is a legit practice?
The other day I get an email telling me my renewal monthly rate is going up $23 bucks. I’ve had no claims since I’ve been with them, so I sent an email voicing my concerns about the increase. They respond with some BS about market rates going up in my area.
Can Any OT insurance baws tell me if this is a legit practice?
13
Posted on 1/21/19 at 1:40 pm to Masterag
quote:What is your area? Could be true.
They respond with some BS about market rates going up in my area.
Posted on 1/21/19 at 1:42 pm to Masterag
Gordon and co. must have had a good year and now you get to pay a little more for all the good people sitting at home learning how every car accident is a lottery ticket.
Posted on 1/21/19 at 1:43 pm to Masterag
quote:
Can Any OT insurance baws tell me if this is a legit practice?
Happens all the time in LA
Posted on 1/21/19 at 1:43 pm to Masterag
Market rates are for sure going up, but I can't promise you that they still aren't adding some "bs" to the increase as well. All insurance carriers lose on auto insurance.
Had a rep tell me one time "If I could pay you not to write auto insurance with us, I would"
Personal insurance is so transactional as it is. You can keep hopping around carriers to find better pricing if you want, but eventually you're hurting self long term because during underwriting all of them see you jump ship for price. They will charge as much as they can knowing you'll leave in 6 months or a year.
Had a rep tell me one time "If I could pay you not to write auto insurance with us, I would"
Personal insurance is so transactional as it is. You can keep hopping around carriers to find better pricing if you want, but eventually you're hurting self long term because during underwriting all of them see you jump ship for price. They will charge as much as they can knowing you'll leave in 6 months or a year.
Posted on 1/21/19 at 1:43 pm to Masterag
Rates in La. Went up about 20% across the board starting this year.
Posted on 1/21/19 at 1:45 pm to FearTheFish
quote:
What is your area?
Suburban Dallas. County
Posted on 1/21/19 at 1:46 pm to Jim Rockford
quote:
Rates in La. Went up about 20% across the board starting this year.
Mine didn't. State Farm
Posted on 1/21/19 at 1:47 pm to Masterag
There are several things it might be. Rates adjust upward, generally, over time. Sometimes there are rate revisions for a region or from an overall statewide rate revision that has to be approved by your state insurance commission based off losses for the region or the state assessed periodically. Also, some discounts phase out over time with most carriers. Most of these are gradual but it still causes an increase at renewal. I get this all the time when rates trend upward and there is no way to keep things static over time due to inflation or larger payouts, etc...
Also another phenomenon is the lower gas prices causes more traffic to hit the road...less safe drivers as youngsters can driver more now and finally larger non-fuel efficient vehicles which cause more damage in accidents. This has been an ongoing issue with carriers due to the rise of the frequency and severity of claims. Finally all the new technology costs more to fix so keep in mind there are numerous factors at play and you are not being targeted as an individual as you would be by having tickets and accidents. Hope this helps.
Also another phenomenon is the lower gas prices causes more traffic to hit the road...less safe drivers as youngsters can driver more now and finally larger non-fuel efficient vehicles which cause more damage in accidents. This has been an ongoing issue with carriers due to the rise of the frequency and severity of claims. Finally all the new technology costs more to fix so keep in mind there are numerous factors at play and you are not being targeted as an individual as you would be by having tickets and accidents. Hope this helps.
This post was edited on 1/21/19 at 1:49 pm
Posted on 1/21/19 at 1:48 pm to tigerbutt
Have your policies renewed yet?
Posted on 1/21/19 at 1:49 pm to Masterag
quote:
They respond with some BS about market rates going up in my area.
The arbitrary response every insurance company uses.
Posted on 1/21/19 at 1:51 pm to Masterag
You're lucky its only $23
Posted on 1/21/19 at 1:53 pm to Masterag
quote:
Masterag
quote:Know how we know you're not a good insurance consumer, gay, & poor?
The other day I get an email telling me my renewal monthly rate is going up $23 bucks.
Posted on 1/21/19 at 2:02 pm to tigerbutt
State Farm baw here. Mine went down $80
Posted on 1/21/19 at 2:06 pm to Masterag
Yes it's legit to increase. you were locked in for 6months (ie geico). Ive had geico for over a decade. Last few yrs I've seen about a $10/month ($60/6months) increase, with nothing to cause it to by me. Not helping so many people moving to TX that think we Texans dont know how to drive. Plus going to get worse with all this tech in vehs.
Posted on 1/21/19 at 2:06 pm to Masterag
Sounds like you’re being scammed just like the Saints who were scammed by the NFL yesterday
Posted on 1/21/19 at 2:06 pm to Masterag
It happens all the time. Its not just about you not having any accidents or claims. Insurance is a pool and they base rates off claims costs for the pool as a whole. When the pool as a whole has higher claims costs, it affects everyone else.
Posted on 1/21/19 at 2:09 pm to Crimson1st
quote:
Hope this helps.
Very grateful for all the good info. Thanks guys!
Posted on 1/21/19 at 3:09 pm to Masterag
many companies have a sign on bonus or discount of some sort that will fall off over time. Could be that, or some other discounts falling off. The whole rates went up is just a generic excuse.
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