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Amazed at the cost of insurance #5232845 10/07/19 10:27 AM
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ram_man Offline OP
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I have had root insurance for about a year. My premium for 3 vehicles was 114 then at 6 months it went to $128. Now at a year they want $208.
I priced a few other companies and they want in some instances 300-500 a month. That's insane. Has everyone experienced a dramatic price increase. I have two accidents on my record which I'm sure doesn't help but they are 2 and 3 years old . I had them when I signed up with root so that shouldn't be the sudden change.


2014 dodge dart GT
1995 Dodge ram 1500


Re: Amazed at the cost of insurance [Re: ram_man] #5232851 10/07/19 10:34 AM
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69GTX Offline
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My insurance company has been bumping me up $50/yr each of the past 2 yrs. But, I too was involved in an accident. So that $50 is really a pittance.


----------------

2001 Lincoln Cont 4.6L DOHC/ 50K mi / QS HM 5w30 / FUG XG2
1999 Camaro SS M6 /19K /Mobil 1 0w40 /Fram UG /GM MTL-ATF
1969 Ply GTX/RRs
Re: Amazed at the cost of insurance [Re: ram_man] #5232863 10/07/19 10:43 AM
Joined: Oct 2009
Posts: 5,500
JohnnyJohnson Online Content
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My insurance State Farm has slowly bumped me up. One accident over three years ago only a scrap no real body damage. When I got the DuraMax new 13 years ago
the truck was worth a whole lot more money and my insurance was $336 and change for six months now its deflated in value and now
my insurance is $440 and change I drive the truck less than 3000 mile a year now.

Last edited by JohnnyJohnson; 10/07/19 10:48 AM.

2004 Corolla 137003
Out: Havoline Pro DS 10w-30 Purolator PureOne 10-29-19 136457
In: Pennzoil Platinum HM 5W-20 ST 4386
2006 Duramax 76703
Out: T6 5W-40 XG9100 73705
In: Rotella Dino PH9100 11-3-19
Re: Amazed at the cost of insurance [Re: ram_man] #5232874 10/07/19 10:53 AM
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Pew Offline
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Mine went up because the rest of Illinois's insurance went up. AFAIK the insurance companies get their data from a risk database, which includes but is not limited to from location, number of accidents, age, and most likely time until the next accident. I forgot what the database is called but you can order a free report on yourself. Maybe somebody else here knows what the database is called.

Re: Amazed at the cost of insurance [Re: ram_man] #5232875 10/07/19 10:53 AM
Joined: Aug 2012
Posts: 2,349
MrQuackers Online Content
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Gotta pay for all those hilarious advertisements.


Master the 1000 yard stare

coffeeMobil 1 USA
Re: Amazed at the cost of insurance [Re: ram_man] #5232889 10/07/19 11:10 AM
Joined: May 2012
Posts: 3,347
SubieRubyRoo Offline
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I just switched from Farm Bureau to USAA. Farm Bureau had me at $108/mo for two Subarus with full coverage and $900/yr on home (it was less than $700 on home 7 years ago with the same policy). I switched to USAA since I'm moving, got better "perks" on the auto insurance including a 20% over replacement value clause and accident forgiveness, and insured my new home for 3x the value of my current one all for a $30/mo decrease on autos and home insurance went up from $900 to $1600/yr. Farm Bureau wanted nearly $2300 on the house and it likely wouldn't have covered 100% if there was a total loss on the property.

I'm pretty much convinced that it pays to shop new insurance companies every 3-5 years, because they realize you likely won't balk at a $50 increase every year because familiarity breeds contempt; but once you look back 3-5 years ago and realize you're paying 30% more for the same policy with no claims or valid reasons why your rate went up you've got a perfect reason to shop. If I had matched policy for policy when moving to USAA I would have been able to save about $500/year overall, no small chump change there! Since all you are is a number to them anyways, does it pay to be loyal to an insurance company just because you've had them for XX number of years? I say no!

Re: Amazed at the cost of insurance [Re: ram_man] #5232900 10/07/19 11:16 AM
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Silverado12 Offline
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FWIW I've with State Farm for over 40 years (since '78) and they have always given me good coverage for a decent price.


12 Chevy Silverado ext. cab LS, 2WD 4.3 auto
18 Mustang GT 5.0 auto
07 Harley Dyna Street Bob 96 c.i. 6 sp.
00 Mustang GT auto
Re: Amazed at the cost of insurance [Re: ram_man] #5232908 10/07/19 11:22 AM
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Audios Offline
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Youve always gotta shop it, insurnace companies show no loyalty. I had Liberty Mutual for 10 years, every year 20-50$ increase even though Ive never had an accident. I said I was switching because of savings, and they didnt even try to retain me.


2002 VW Golf TDI-T5 10/30
2007 Mercedes GL320 CDI- M1 0/30 ESP
2005 BMW M3 BMW-Twin Power 10/60
2003 BMW M5-M1 15/50
1998 BMW M3/4/5-M1 10/40
Re: Amazed at the cost of insurance [Re: ram_man] #5232909 10/07/19 11:23 AM
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Donald Offline
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I think (at least in NY) the time is 48 months for the insurance companies to no longer consider an accident. This would be collision, not comp.

Insurance companies can be all over the place. View risk differently. While GEICO has a 5 year good driving discount, there is not a lot about customer loyalty.

Look on Consumer Reports. Look around every couple of years.

Accidents, tickets, DWI and kids that drive are the things that drive up the price.

Some companies have accident forgiveness for the first accident (per person I think)


2015 Subaru Forester 2.5 engine/CVT
2015 Ford F250 w/Powerstroke
2016 Subaru Crosstrek CVT (wife's)
Re: Amazed at the cost of insurance [Re: ram_man] #5232913 10/07/19 11:25 AM
Joined: Aug 2004
Posts: 21,287
The Critic Online Crying
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https://www.insurancejournal.com/news/national/2019/01/16/514822.htm

Rates have barely kept pace in personal auto, commercial is still doing terrible from a profitability standpoint.

I just spent 4K for 12 months to insure a house, two autos and a 2M umbrella.

Keep in mind that insurers have to target a loss ratio of under 50% in order to return expected profitability to shareholders, so you can do the math on what that translates to (at an account level).


2011 Toyota Prius 1.8L - 199K - Pennzoil Platinum 0W-20
2007 Honda Accord 2.4L - 141K - Valvoline Premium Blue Restore 10W-30
Re: Amazed at the cost of insurance [Re: ram_man] #5232927 10/07/19 11:43 AM
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CKN Offline
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I could tell you about a dozen horror stories of Internet based insurance companies . Everybody complains about insurance-until you need to collect on it. That's the big difference in the "name brand" insurance companies vs. the Internet "cheap" insurance companies.

Talk to any law enforcement officer or insurance agent and they will all tell you the cause of most accidents these days is distracted (i.e. cell phones, etc.)

driving. We are all paying for this.


Anybody who goes through an "Internet based" company with ANY ASSETS AT ALL ARE VERY FOOLISH!

Last edited by CKN; 10/07/19 11:46 AM.
Re: Amazed at the cost of insurance [Re: ram_man] #5232938 10/07/19 11:53 AM
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And also, your zip code is used to set auto insurance rates as well as homeowners. Crime in the area, etc all play a part in setting your rates.


2019 VW Passat 2.0 liter gasoline DI engine, DI, 2,700 miles, Castrol Professional VW 508 0W-20
2017 VW Golf All Track 1.8 liter gas engine DI, 25,500 miles Castrol Professional VW 505 5W-40
Re: Amazed at the cost of insurance [Re: ram_man] #5232947 10/07/19 11:59 AM
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camryrolla Offline
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When they start to jack up the rate, it always pays to shop around. Got to be vigilant and keep your credit score in tip top shape in preparation. Many car owners are burdened by too much debts that drag their credit score down, making it difficult to shop around for lower rate. Same goes for home insurance.


'11 Camry 2.5L 170K mi
'07 Corolla 1.8L 220K mi
Always Fram XG filter.
Re: Amazed at the cost of insurance [Re: ram_man] #5232950 10/07/19 12:03 PM
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czbrian Offline
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What's not helping is all the uninsured drivers, insurance fraud and flooded cars. In August, an uninsured driver hit my wife in her 2006 Pilot causing $4,500 of damages. Also my mother in law was in a possible accident a year or so ago. I say possible because she didn't think she bumped into the lady and there was no damage to either car. The lady sued saying it reaggravated a previous injury and insurance settled for $40,000. My MIL's / insurer's lawyer said the lady actually has a whole history of lawsuits relating to automobile accidents. Then you have all the idiots driving through flooded streets here in Houston every time any storm rolls through.


2019 Honda Pilot
1998 Chevrolet C1500
1995 Chevrolet C1500
2018 Mitsubishi Outlander PHEV
Re: Amazed at the cost of insurance [Re: ram_man] #5232980 10/07/19 12:39 PM
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Bud Offline
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I use an independent agent and he shops my insurance each year through multiple companies.


2016 Honda Pilot EX-L with NAVI.....Mobil 1 0w20 AFE and Honda OEM Filter
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