Need Insurance For 3500. State Farm Premium Has Skyrocketed.

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mtnrider

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Try travellers.

We ended up going with Farm Bureau. My point was the rates are all over the place, you may get a good deal on travelers but the next guy with a similar policy/history may not. I would swear that some of these companies just spin a wheel and where it lands is the rate you get.

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turkeybird56

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We ended up going with Farm Bureau. My point was the rates are all over the place, you may get a good deal on travelers but the next guy with a similar policy/history may not. I would swear that some of these companies just spin a wheel and where it lands is the rate you get.

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I think that game has been on the market for years. Called "Twister".

My rates in TX ridiculous, but I also MAINTAIN Full Coverage and the highest PI I can get for the policy, which doesn't help. My rates are 100%%% higher than like 3 years ago. And lets not even talk about House/Property insurance.
 

chri5k

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This, coupled with insurance companies trying to keep investors happy instead of customers, is the biggest issue with why rates keep going up. They need to turn a profit, or investors will dump them, and with those higher costs involved they raise rates.

I do agree with your comments about un- or under-insured motorists. Those fines need to be more than the 'average' insurance rates of the area/state, to entice people to actually get insurance. And you're right, those of us who are insured are covering those who aren't.

The same happens in health insurance - those of us with it are paying higher premiums to cover those who aren't insured, because if they need a hospital visit or whatever but can't pay for it (they declare bankruptcy or whatever), the provider has to recoup and raises rates, our insurance has to pay more and raises rates on us. Vicious cycle.
Investors and profit are not dirty words. Most people in the US and most of the world for that matter have a job and earn a living directly or indirectly due to investors and profit. Most folks public & private pensions as well as retirement accounts providing a comfortable retirement are due to investors and profit.

If one is looking for insurance that is somewhat closer to a not for profit outfit, some mutual insurance companies may fit the bill. Their rates are pretty much the same as for profit insurance companies.
 

Docwagon1776

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We ended up going with Farm Bureau. My point was the rates are all over the place, you may get a good deal on travelers but the next guy with a similar policy/history may not. I would swear that some of these companies just spin a wheel and where it lands is the rate you get.

.

The opposite. It's not random, it's very precise algorithms using a combination of actuarial science, market research, and a strong profit motive. For example, a rare peak behind the curtain occurred a few years ago: https://themarkup.org/allstates-algorithm/2020/02/25/car-insurance-suckers-list
 

mtofell

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I was with State Farm for years with 5+ vehicles (private and biz), home, umbrella, etc. and it just kept going up. I switched to Progressive and the total was about 60% of State Farm. "Rate Creep" I've heard it called. Kind of a strange business that they punish you for being a good customer.
 

Zoe Saldana

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lube ...
When I bought my '19 new in Jan 2020 my full coverage premium with State Farm was only $850 a year. Now it is $1600. I looked at The Hartford but they do not insure commercial vehicles. Anyone have any suggestions
 

GTyankee

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Then there are insurance companies, like the company that i have my companies Commercial auto insurance with ...

That company is Progressive, they have all those TV commercials with those stupid actors, i know that i am paying for the commercials
and i hate Flo
 
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Docwagon1776

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Then there are insurance companies, like the one like the company that i have my companies Commercial auto insurance with ...

That company is Progressive, they have all those TV commercials with those stupid actors, i know that i am paying for the commercials
and i hate Flo

I think that's part of what drove USAA from being a real benefit to veterans to being just another insurance company at best. Advertising, sponsoring the NFL, etc. When I joined you just heard about it through word of mouth on base.
 

GTyankee

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ZOE ...

Insurance companies don't call your Ram insurance, commercial insurance.
even though your Ram is a Commercial Vehicle.

This is what most Insurance companies call commercial insurance

Commercial auto insurance protects businesses that own or use vehicles for work purposes. It covers liability and physical damage for vehicles used in business, and can also provide compensation for injured occupants.

It may seem funny to most people, but the business that i am in, has its own section in the Department of Motor Vehicle Manual.
It tells you what DMV Maps that i have to follow.
It tells you how many Highway Patrol i have to work with and when.
It even tells me what Hours i can work in some areas.
It also tells me what tools that i have to have with me in my vehicle.

The worst thing about it, is i have to have at least $750,000 USA of insurance coverage locally & some of the other States want 1 Million insurance
 

Tulecreeper

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Insurance rates vary around the country, and depending on what day it is, and which way the wind is blowing etc. One persons bargain can end up another's price gouging.

We just got quotes from all the major insurers and State Farm was way up there, Zero accidents, Zero tickets. But, I used them back in the 80's for many years and they were the best, can't get a decent quote from them now?

.
Understood, but he and I live in the same geographical area of the same state.
 

Tulecreeper

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I think that's part of what drove USAA from being a real benefit to veterans to being just another insurance company at best. Advertising, sponsoring the NFL, etc. When I joined you just heard about it through word of mouth on base.
Same here. Used to be for commissioned officers only. I joined right after they opened it up to E-7 and above. A couple years later they opened it up to pretty much everybody with any affiliation to the military - children, grandchildren, parents, etc.
 

Ronich69

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When I bought my '19 new in Jan 2020 my full coverage premium with State Farm was only $850 a year. Now it is $1600. I looked at The Hartford but they do not insure commercial vehicles. Anyone have any suggestions?
I was surprised at the $130/mo savings going from Geico (+8yrs) to Progressive.
 

Regcabguy

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When I bought my '19 new in Jan 2020 my full coverage premium with State Farm was only $850 a year. Now it is $1600. I looked at The Hartford but they do not insure commercial vehicles. Anyone have any suggestions?
Our AAA went up $300. Open the books and show us where you are hurting to justify such a steep rise in rates insurance companies.
 

utley

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I recently changed from Allstate to Liberty Mutual and saved me $400 just recently. Up for renewal right now and my price hasnt even increased, while Allstate would have been up another $300. Want your price to stay uniform? DONT USE THOSE TRACKING APPS TO LOWER YOUR INSURANCE. Keep that garbage off your phone. I stayed with Allstate/Progressive for like 18 months and every 6 months my premium went up 300-400 dollars averaged every time.
 

Six Turboed

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And they are saying that insurance rates are going to continue to skyrocket in the next year! All this because of parts to fix cars are continuing to rise along with everything else. Hopefully??? Maybe??? Inflation might take a turn next year?
 

marks146

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I agree. Progressive has been the lowest in my area of Pa. I was with Liberty, but their rates jumped so I went on the hunt, and this is where I ended up. I believe the rates are contingent upon the state you reside in.
 

IdahoDen

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When I bought my '19 new in Jan 2020 my full coverage premium with State Farm was only $850 a year. Now it is $1600. I looked at The Hartford but they do not insure commercial vehicles. Anyone have any suggestions?
Don't feel alone, insurance auto rates have skyrocket over the last two years, particularly 2024. Read this article. Makes no sense to me why Vermont is the cheapest at $1000 and Maryland cost $3400. Yes, Maryland is a little more densely populated but most of the state is not. And it's incredible how many "disguised" ads there are for progressive insurance online. In most cases, 80% of the new subscriber premium goes to the agent as commission. I live in Idaho and we are the sixth cheapest state. My wife and I are 76 and 72 years old, you would think our rates would be lower. Question I tell everybody to ask themselves is do we need all the vehicles we have? It's amazing as rates have increased how many senior retirees have realized they do just fine with one car.

 

Juice17

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We have state farm as well. Went up 1200.00 a year. Try AAA for insurance. Just make sure that the company you get a quote from has put their increase in the quote
 

Wally Turner

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I have used GEICO for the past 7 years. Theybeat all the others on price. I have a 2018 Ram 2500 Longhorn. Just had a call last week from Allstate. Gave my info and the agent said she'd run it through underwriting and send me the quote. Still waiting on it.
 
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