Car insurance keeps going up

[Bluto]

I've been with State Farm my entire driving life- 35 years. I get every discount they have and have a spotless record for the past 15 or so years. Rates still keep creeping up $20-30 a year. There's always some B.S. reason according to my useless agent.

 

[DonTom]

I've been with State Farm my entire driving life- 35 years. I get every discount they have and have a spotless record for the past 15 or so years. Rates still keep creeping up $20-30 a year. There's always some B.S. reason according to my useless agent.

I think the BS reason is called "inflation".

Their expenses also increase a bit every year.

-Don- Reno

 

[skip]

I think as important as the rate is what is your deductible and maximums on bodily injury and collision.

I believe bodily injury minimum is going from 15/30 to 25/59 in Nevada, which would their excuse for raising rates.

Personally I still think that’s too low, especially if you have any assets or net worth for someone to go after.

I work for progressive and this is Exactly what is causing it.

Add on top of the state required minimums doubling, the way people drive out here, the fact that there's a lawer on every street corner fishing for auto accidents, and the amount of fraud that is out there, your lucky your premiums are only going up that much.

 

[jfrey123]

I used to sell insurance. Jan 1, 2018, the state raised the liability minimums. Lowest coverage you used to be able to by was "15/30" ($15,000 per person, $30,000 total per accident). New minimums are 25/50, so if you had minimum coverage, this is the reason for your price increase. The property damage minimum also went up from $10,000 but I don't remember what it jumped to (I think $50k, but I'm too lazy to google it). More coverage costs more money.

 

[titanNV]

Does changing the minimum requirements adversely affect those who are no where near the minimum?

Sent from my SM-G930V using Tapatalk

 

[dsmacey]

It shouldn’t, in my opinion. It should lower it, since the chances of you needing to exercise your underinsured coverage goes down with everyone have a higher required minimum. Of course, I highly doubt a rate ever being lowered

I have my medical and collision and property maxed out and my rate has not changed in two years (since I last added/changed a car on the policy) including my recent renewal with Geico.

 

[titanNV]

It shouldn’t, in my opinion. It should lower it, since the chances of you needing to exercise your underinsured coverage goes down with everyone have a higher required minimum. Of course, I highly doubt a rate ever being lowered

Exactly!!!

It's a shell game with excuses, not reasons.

 

[turborich]

I've been with Geico for over 6 years. Good customer service, but rates just went to high. No tickets, accidents or claims. I pay my policy in full for 6 months and have comp/collision on 3 vehicles. Jumped from $930 to $1,330 per 6 months.

I called around and this time Progressive was the lowest for the same exact coverage at $870 per 6 months.

If they try raising rates at the renewal then I'll just shop around again. They are not your friends so no reason to be loyal to them if they're just going to keep jacking up your rates for being a safe driver.

We are pondering a move to Fallon, NV. The auto insurance rates are about half what they are here, however homeowners insurance was about double.

 

[Thelittlegreenguy]

I have been in Arizona now for about 5+ years, and I went from having Allstate in Nevada to Progressive in Az. same car same coverage, course car is 5 years older now than in nevada, and its paid off and old, but I do not put many miles on it, went from 155 a month in Nevada to 40 a month here in AZ. Started at 35 a month and has steadily increased to 40 over 5 years not complaining but I am due for a new car, and will certainly shop around when it comes to getting it insured, especially since it will be 4 wheel drive and a utility vehicle, currently driving a small 4 door import that gets great gas mileage as well, which will go to my youngest son for his first car, he will benefit from it being older and paid for when he goes to get his insurance, ( he is 21 ) they will hit him hard.

 

[skip]

It shouldn’t, in my opinion. It should lower it, since the chances of you needing to exercise your underinsured coverage goes down with everyone have a higher required minimum. Of course, I highly doubt a rate ever being lowered

I have my medical and collision and property maxed out and my rate has not changed in two years (since I last added/changed a car on the policy) including my recent renewal with Geico.

Did your policy renew before the 1st of the year? If not, your lucky. I'd bet it will go up the next time you renew.

Exactly!!!

It's a shell game with excuses, not reasons.

Doubling the state minimum requirements doubles the exposed liability the insurance company has on the road. So now the insurance company has a chance to be paying out twice as much per accident.

Current minimum state requirements for property damage is 10k. When the new requirements go into effect, that requirement doubles to 20k. That's means that for every accident there is a possibility the insurance company will pay out 20k instead of 10k.

Just like higher policys cost more. The more money there is a chance of paying out the higher the cost.

B][/B]

I have been in Arizona now for about 5+ years, and I went from having Allstate in Nevada to Progressive in Az. same car same coverage, course car is 5 years older now than in nevada, and its paid off and old, but I do not put many miles on it, went from 155 a month in Nevada to 40 a month here in AZ. Started at 35 a month and has steadily increased to 40 over 5 years not complaining but I am due for a new car, and will certainly shop around when it comes to getting it insured, especially since it will be 4 wheel drive and a utility vehicle, currently driving a small 4 door import that gets great gas mileage as well, which will go to my youngest son for his first car, he will benefit from it being older and paid for when he goes to get his insurance, ( he is 21 ) they will hit him hard.

Premiums are heavily based on zip codes. If there are alot of accidents/vadanlism/theft/fires in a certain zip code, then premiums will be higher in that zip code. That's why your asked for the garaging zip code.

 

[skip]

Sorry double post

 

[jfrey123]

Premiums are heavily based on zip codes. If there are alot of accidents/vadanlism/theft/fires in a certain zip code, then premiums will be higher in that zip code. That's why your asked for the garaging zip code.

Zip code, driving history (official DMV and shared insurance info), credit scores, loss ratios based on vehicle type, and age/marital status seemed to be the most dramatic factors when I was in the biz.

 

[Bulleteater]

Blame your lawmakers in Carson City for the increase in car insurance. :thumbdown:

SB308 was a bi-partisan bill from the 2017 session, main sponsors were lawyers (although surprisingly our pro-2A friend, and rancher, Jim Settelmeyer, was listed as a main sponsor, so go figure), and it passed the Assembly 32 to 8 with 2 excused, and the Senate 16 to 5 [link].

No surprise that lawyers like Aaron Ford (D) and Becky Harris (R) were giddy about this bill as their slimy ilk are the ones who stand to benefit most from its passage.

Maybe we should pay just as much attention to these type of bills as we do to the gun bills? Jes sayin.

Some folks dismiss state politics, preferring the circus of Capitol Hill. They laugh when I tell them state politics is even MORE important because it affects all of us directly. Consider this car insurance bill Exhibit A.

When time permits I plan to listen to the hearings to see exactly who testified in support and who testified in opposition of SB308.

 

[skip]

Zip code, driving history (official DMV and shared insurance info), credit scores, loss ratios based on vehicle type, and age/marital status seemed to be the most dramatic factors when I was in the biz.

Iam on the claims side of things so i don't get into the details but yes, zip code, driving history and certaim vehicle loss patterns are what I see effect cost the most.

Blame your lawmakers in Carson City for the increase in car insurance. :thumbdown:

SB308 was a bi-partisan bill from the 2017 session, main sponsors were lawyers (although surprisingly our pro-2A friend, and rancher, Jim Settelmeyer, was listed as a main sponsor, so go figure), and it passed the Assembly 32 to 8 with 2 excused, and the Senate 16 to 5 [link].

No surprise that lawyers like Aaron Ford (D) and Becky Harris (R) were giddy about this bill as their slimy ilk are the ones who stand to benefit most from its passage.

Maybe we should pay just as much attention to these type of bills as we do to the gun bills? Jes sayin.

I have mixed emotions on raising the minimums. With the sky rocketing cost of fixing vehicles that are getting more complex every year it's hard to fix a car for under 10k that was involved in anything other then a fender bender.

What really needs to be done is a crack down on fraud and the insurnace company's need some more power to fight frivolous lawsuits. Insurance company's have no recourse to recoup lost money from BS lawsuits or claims. The companys are just expected to take it. If someone makes up a fake injury against an insured and it was determined to be fake, the insurnce companies do not have any recourse in trying to get back all the money they send fighting that false claim.

 

[dsmacey]

I personally am glad to see the minimums raised, as I believe they were way too low.

I have had two accidents on my policy in the last couple of years, both were the other driver's fault clearly and police report and tickets were issued to prove that.

In both cases, the driver of the other vehicle had the minimum coverage.

In the first case, I had to exercise my underinsured policy to cover the damage to the vehicle. Fortunately, Geico was quite good during it all and it was not too difficult to deal with.

The second included and injury to the other driver on my policy, and once again the minimum was not nearly enough to cover the costs. So again, I had to exercise the underinsured part of my policy.

In the last case, we are going after the driver's assets as well. And the sad thing is you really have no choice but to hire an attorney, even to deal with your own insurance company at times but especially the opposing insurance company. There is just no other way to make progress without one.

I am not sure what the solution is. All I know is because of a very bad situation with my parents and minimum coverage issues, I not only have mine now maxed out I also have a large umbrella policy on top of it.

Like my opinions on drug driving, driving without insurance should carry a much steeper penalty than it does.

Drive drunk, lose the car you were driving regardless of whose it is, in my opinion.

Drive without insurance or the means to cover damages YOU caused, not sure how steep the penalty should be but what we have now is not enough nor is it enough of a deterrent to stop it from happening.

Bulleteater, I can understand your position to a degree, but honestly I cannot accept that the current minimums are enough. The new ones that go in to effect July 1, 2018 are better and should help so I guess in the end I am all for them being raised.

And by the way, both accidents mentioned above? Rear ended while sitting at a stop light. In both cases, I nor the other driver on my policy was even moving. Just sitting at a red light and wham!

And in both cases the hit was hard enough for the at fault driver's airbags to go off.

 

[Wolfn8tr]

Interesting. I do believe our policy is due to renew next month so I shall see if it goes up

Well it went up $40 more a month. [emoji849]

 

[titanNV]

Holy crap that's almost $500 a year!!!

I had to look it up. Mine went from $395/6 months in June to $453/6 months in Dec for our 2011s with full coverage 100/300 coverage. That's nearly a 15% increase!

 

[DonTom]

Holy crap that's almost $500 a year!!!

I had to look it up. Mine went from $395/6 months in June to $453/6 months in Dec for our 2011s with full coverage 100/300 coverage. That's nearly a 15% increase!

Be glad you don't have 16 motor vehicles (nine are motorcycles) to insure as I do.

-Don- Reno, NV

 

[Clockwork]

My new 6 month premium just came in, went up 14$ a month for full coverage on 1 car.

 

[Tony Shelton]

From $876 to to $1219, not including commercial vehicles.

Unbelievable.