Insurance Costs - Increase

[snowdoggie]

Ugh, Im in norcal and just got my renewal notice, even though no accidents they raised my insurance 23% YOY with progressive.
This is INSANE
2022 - $483.88
2023 - $657.47
2024 - $877.88
2025 - $1078.88

Any community recommendations on next actions or a good alternative? (sorry no USAA, due to other than honorable)
I know I may be paying for bad drivers, theft, and maybe the fires but damn.

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[snowdoggie]

Update:
Geico: $772.18 for increased coverage 30/60 instead of 25/50

 

[hbirring01]

Update:
Geico: $772.18 for increased coverage 30/60 instead of 25/50

Geico is just going to raise it on you every year. Get a broker and go through them. Cheapest insurance I could find with good coverage

 

[snowdoggie]

Geico is just going to raise it on you every year. Get a broker and go through them. Cheapest insurance I could find with good coverage

Any recommendations on broker? or how to find one? What to look for/watch out for.
Thanks for your time.

 

[hbirring01]

Any recommendations on broker? or how to find one? What to look for/watch out for.
Thanks for your time.

I dont think my broker operates in California. Theyre very regional. I just googled Insurance Broker near me and picked the one that was closest. They were able to get me and my family really cheap insurance with good coverage from a well known Insurance provider in the area. Good luck!

 

[LALAX23]

Update:
Geico: $772.18 for increased coverage 30/60 instead of 25/50

Geico was almost half of the competitors when shopping rates before buying mine in SoCal.

Still nothing compared to the sticker shock of originally moving out here and seeing the rates on my old Miata triple

 

[Maui]

To me it just feels like every corporation is raising their rates because they can. I don't think they are using data good or bad to raise your rates. I would love to see some regulation in the insurance market for cars and homes.

 

[Mprunty]

Have you thought about getting coverage through Tesla? I got a quote for my 2024 Mach-E Select alongside a 2022 Toyota RAV4 Hybrid and it was cheaper than my current provider (AAA) but I like the perk of anyone driving my vehicle with my permission is fully covered and it's a 12-month policy. I currently pay $350/month for both vehicles but I live in Southern California (Los Angeles county) and carry higher liability coverage than the state minimum because I don't trust other drivers.

Having worked in insurance before, there are several factors that lead to increases: increase rates of claims in your area, cost to repair the vehicle (using genuine parts vs third party), potentially increased driving year over year (the more you drive the more you are at risk for the possibility of an accident), and of course the rate increases due to inflation and the rising cost of new cars.

 

[dalola]

ALL insurance has gone up at least 20% for the past two years...home owners, auto, you name it. I don't know which industry I hate more, airlines or insurance.... ?

 

[Snakebitten]

Ugh, Im in norcal and just got my renewal notice, even though no accidents they raised my insurance 23% YOY with progressive.
This is INSANE
2022 - $483.88
2023 - $657.47
2024 - $877.88
2025 - $1078.88

Any community recommendations on next actions or a good alternative? (sorry no USAA, due to other than honorable)
I know I may be paying for bad drivers, theft, and maybe the fires but damn.

Forgive the ignorance, but are those 6 month premiums?
I'm not in California, but those aren't the worst rates I've seen recently for 6 months of comprehensive coverage.

 

[DeusEx]

Forgive the ignorance, but are those 6 month premiums?
I'm not in California, but those aren't the worst rates I've seen recently for 6 months of comprehensive coverage.

Sadly, those rates seem comparable to NY state for a 6 month premium of comprehensive coverage. I've been shopping around for my Mach-E and nothing under 1k from all the quotes I've received so far.

 

[dimaj]

I think a lot of insurance companies are leaving CA and that is the reason for price hikes.
My home insurance and umbrella insurance have also went up in price.

Sadly, I think that the only way to lower your rates are to move out of state

 

[merchjo]

Here in NJ using state farm, our insurance increased as well but the Mach-E doubled that rate. We have 4 cars on our policy and the Mach-e with full coverage is equal to the other 3 cars combine. The other cars are a 2022 Ram 2500 (full coverage), 2011 Eclipse Spyder GT (full coverage) and 2009 Kia Reo (liability). I asked my agent why and I was told the parts for electric cars are way more money than a standard car but the biggest risk is when electric cars are in accidents they are more likely to get totaled then a standard car. The higher risk of pay out is causing them to increase the rates. That's the excuse they gave me.

 

[Maui]

I think a lot of insurance companies are leaving CA and that is the reason for price hikes.
My home insurance and umbrella insurance have also went up in price.

Sadly, I think that the only way to lower your rates are to move out of state

I think you are going to be surprise if you move and expect lower insurance rates.

Texas rates went up 20-30 % for cars. House up 37%

 

[dimaj]

Texas rates went up 20-30 % for cars. House up 37%

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