Big insurance increase (State Farm)--anyone else?

[Cory S]

I've started over-budgeting for homeowners and auto insurance, the next several years. It might slow down, but I'm afraid the trend will continue, up.

FL seems to be suffering the greatest increases, homeowners insurance especially. It doesn't feel like we're too far behind in CO.

Inflation, companies recovering losses, people driving under the influence or more distracted than ever before.

I've clawed back a little. In my homeowners, updating the roof material took some off the premium. On auto, I made an adjustment to actual mileage driven. Previously, I'd also found the safe driver discount unchecked on the company's website (unchecked by default). It's not much, but a small victory none-the-less.

People need to compare deductibles and how much they effect yearly premiums. It’s the biggest marketing scam of insurance.

In many cases, just raising a collision deductible to $1000 from $500 can lower the yearly premium by $150-$500. Unless you’re crashing the car every couple years, you’ll pay less out of pocket in the long term with the lower yearly premium.

Take my policy on the GT for instance.
$580/year with a $1000 collision deductible. Lowering that deductible to $500.00, raises my yearly premium to $792…….. Over let’s say 5 years, it would have costed me an extra $1060.00 out of pocket in policy premium.

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[mcky2011]

I saved 41% over USAA with Erie through a local broker, replacing my (sold) 2018 Fusion with the 23 Mach 1 on that policy cost me $127 through next June. I also leveled up my coverage significantly over the USAA policies.

As others have stated, get away from big insurance and move to a local broker. My local guy also cut my motorcycle insurance about $250 a year with the same insurer (Dairyland).

Erie is only available in a limited number of states, but there are more companies out there that offer similar pricing and coverage.

 

[RagmopInKona]

Mine went from 1196.00 to 1402.00
I have a 1000 deductable.

 

[Qcman17]

Mine hasn't gone up but I'm expecting it to for everyone here as the recent severe weather incidents are really on the rise. My car got hit with golf ball sized hail 2 weeks ago and is in getting PDR today. The estimate was $6300 to fix it. Two of our other vehicles were hit badly as well. Probably 15k or more for all 3.

 

[stannypack]

damn my insurance through costco connect went up too, 800 to 1100 every 6 months. And that's including safe driver discount and costco executive membership discount

24 yo male + v8 = crowdkiller

 

[FreePenguin]

you know, its crazy the hail thing and damage. My little 2012 scion tc, has been through like 20 hail storms, not a single dent. (all metal/steel) my mustang got hit by 1 hail storm, and had 6-8k worth of damage. It was fixed under insurance, and actually didnt impact my premiums at all. that was 3 years ago.

but that was something I hated about the mustang aluminum. it literally, failed in that regard durability wise. D: I wasn't home, I was driving in my scion, in the same hail storm. hitting the same hail @ speed, and didnt get a single mark. just crazy how different the strength/properties are. but the scion is a heavy little tank.

 

[Dapsters]

Well the time finally came and USAA renewed my policy..

I have 3 cars, 2022 honda civic sport sedan, 2022 mustang gt premium performance package and a 1995 f150 with a 5.0

They did raise the rates like I expected buuuuut they lowered my mustang and truck and raised the civic lol

Civic $205 =》 $211/mo
Mustang $198 =》 $202/mo
F150 $19 =》$20/mo


Kinda weird my mustang is cheaper on insurance, same coverage and usage

 

[Cory S]

Well the time finally came and USAA renewed my policy..

I have 3 cars, 2022 honda civic sport sedan, 2022 mustang gt premium performance package and a 1995 f150 with a 5.0

They did raise the rates like I expected buuuuut they lowered my mustang and truck and raised the civic lol

Civic $205 =》 $211/mo
Mustang $198 =》 $202/mo
F150 $19 =》$20/mo


Kinda weird my mustang is cheaper on insurance, same coverage and usage

Man. Your monthly insurance cost is almost as much as both my car payments combined.

 

[Dapsters]

Man. Your monthly insurance cost is almost as much as both my car payments combined.

Yeah it sucks, over the last year usaa has been running with our money on renewal

We went from paying $189 a month for 3 cars to $275 up to $485 all with 0 claims or incidents.. 18+ years of safe driving perks of living in Florida I guess, every other insurance company is just as expensive or more

My truck only went down because I put it in storage as I don't drive it anymore but with it out of storage it costs $85/mo

 

[FreePenguin]

It’s possible your mustangs value decreased more than the other vehicles. A bunch of aspects behind total losses and calculations I’m sure

my6 month policy on myScion tC with 200k miles is 290 every 6 months now. Few years back I was paying like 20-25 a month. ):

damn hoonigans wrecking Scion Tc’s having a super high premium despite being a slow ass car brb tons wrecks with 180hp

 

[Cory S]

Yeah it sucks, over the last year usaa has been running with our money on renewal

We went from paying $189 a month for 3 cars to $275 up to $485 all with 0 claims or incidents.. 18+ years of safe driving perks of living in Florida I guess, every other insurance company is just as expensive or more

My truck only went down because I put it in storage as I don't drive it anymore but with it out of storage it costs $85/mo

Do you actually shop around every 3 years like you should?

Our 3 vehicles is $1760 per YEAR.
A 2016, 2017, and 2019.

 

[Dapsters]

Do you actually shop around every 3 years like you should?

Our 3 vehicles is $1760 per YEAR.
A 2016, 2017, and 2019.

Yeah I shop around all the time and every company is asking a lot more than I currently pay or close enough that changing it isn't worth it

Me and my fiance are 33 & 34, don't know how much age plays a part in my policy vs yours but insurance in Florida is a different game than most other states

 

[Dapsters]

It’s possible your mustangs value decreased more than the other vehicles. A bunch of aspects behind total losses and calculations I’m sure

my6 month policy on myScion tC with 200k miles is 290 every 6 months now. Few years back I was paying like 20-25 a month. ):

damn hoonigans wrecking Scion Tc’s having a super high premium despite being a slow ass car brb tons wrecks with 180hp

Yikes

 

[Tucker80]

Well the time finally came and USAA renewed my policy..

I have 3 cars, 2022 honda civic sport sedan, 2022 mustang gt premium performance package and a 1995 f150 with a 5.0

They did raise the rates like I expected buuuuut they lowered my mustang and truck and raised the civic lol

Civic $205 =》 $211/mo
Mustang $198 =》 $202/mo
F150 $19 =》$20/mo


Kinda weird my mustang is cheaper on insurance, same coverage and usage

Is that really monthly premiums?! I've got 2020 civic sport, 2022 mustang GT and your monthly rates are damn near what I'm paying for 6 months at progressive w/$1000 deductibles

 

[Dapsters]

Is that really monthly premiums?! I've got 2020 civic sport, 2022 mustang GT and your monthly rates are damn near what I'm paying for 6 months at progressive w/$1000 deductibles

Yep, that's for bare minimum required by the state of Florida (practically 0 coverage if I ever need the insurance) and $1k deductible

Only thing I splurged on is roadside assistance

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