Auto insurance going up 28%

[disneysteve]

We got our renewal notice the other day and our premium went up nearly 28%. I have no idea why as we have had no claims and no violations. I expect a modest increase every renewal but that's far from modest. I sent an email to customer service asking why the price is climbing so much and I'm waiting to hear back. It might be time to shop around again.

Has anyone else seen a sharp increase in the rates recently?

[bjl584]

Years ago I had a large increase on my homeowners. The reason I was given was because there was a lot of damage in the south and Midwest from an active hurricane season. Basically, everyone who had coverage had to share in the cost of all the claims that were filed across the country. You might be going through something similar. I'm guessing the hurricanes in Florida damaged and flooded a lot of cars a few months back. Might be time to start shopping for a new provider....

[scfr]

28% is a big increase! No, I've never experienced an increase like that not related to something we did (adding a 2nd car).

In addition to getting an explanation from your current insurer and shopping around, it may be time to revisit discounts. Are you getting all available discounts? For example, the defensive driver discount - have all drivers on the policy completed the course to get the discount, if eligible?

[LivingAlmostLarge]

Try ameriprise with costco discount. Shop around and see who else is cheaper.

[Smallsteps]

Wow that seems like a big increase.
Mine has steadily gone down for the last couple years.
At renewal they have all the factors are listed in a page on my account on website, perhaps they have false info on your account.
I always look at what they have listed. I once found a ticket listed that was not mine. I have no idea how it was on there but just like a credit report I got it corrected immediately.
with so much competition out there I am surprised that they did not tell you up- front on the renewal notice.

[disneysteve]

I got a response to my email, which wasn't entirely helpful except for explaining that there had been a new customer discount last time that was a one-shot deal. The rep also suggested I call for a policy review. I did that today and it turns out I had just misunderstood the email. I thought the price given included the full payment discount (rather than making monthly payments). It did not. If I pay in full, which I intend to, the renewal premium is only $57 more than what we paid last time. I'm totally fine with that. That is about a 4.5% increase but, as I said, last time we got a new customer discount as it was a brand new policy. We made sure there were no other discounts that we are eligible for but we're getting everything we can.

While I was speaking to them, she asked if we had our home owners policy with them. I said no but I'd be open to getting a quote. She transferred me to that department and I went through the whole process but in the end, their quote was $200/year higher than what we currently pay and was less coverage. Obviously, I'll stick with our current policy, and she was completely understanding of that. It was very nice to have a completely zero-pressure conversation with an insurance company.

[Keshet]

It was very nice to have a completely zero-pressure conversation with an insurance company.

Nice? I consider that a miracle! Happy Hanukkah.

[greenskeeper]

We got our renewal notice the other day and our premium went up nearly 28%. I have no idea why as we have had no claims and no violations. I expect a modest increase every renewal but that's far from modest. I sent an email to customer service asking why the price is climbing so much and I'm waiting to hear back. It might be time to shop around again.

Has anyone else seen a sharp increase in the rates recently?

NJ voting to handing out drivers licenses to illegals have anything to do with it ?

[disneysteve]

NJ voting to handing out drivers licenses to illegals have anything to do with it ?

As I said in my later post, it was a misunderstanding. My rate didn't go up that much - just $57 due to not getting the new customer discount. The state also raised the rental car reimbursement from $30/day to $40/day so the rate bumped up slightly due to that.

Letting immigrants get licenses is an entirely unrelated topic.

[greenskeeper]

Letting immigrants get licenses is an entirely unrelated topic.

I stated "ILLEGALS" not immigrants who have legally gone through the proper process to be in the USA.

[disneysteve]

I stated "ILLEGALS" not immigrants who have legally gone through the proper process to be in the USA.

I know what you said. I don't want this thread to turn into a political debate. Thanks.