U.S. CitiesCity-Data Forum Index
Celebrating Memorial Day!
Go Back   City-Data Forum > U.S. Forums > Colorado
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
 
Old 02-27-2018, 02:52 PM
 
Location: Colorado Springs
4,320 posts, read 4,348,520 times
Reputation: 15239

Advertisements

Colorado is No. 3 in the country for rising car insurance premiums. Here’s why.

https://www.denverpost.com/2018/02/2...premiums-rise/

"Colorado’s 54.2 percent increase in the average premium between 2011 and 2017 lagged only Montana at 64 percent and Mississippi at 60.3 percent and outstripped the 20 percent gain measured nationally. Those hikes don’t account for costs from the May 2017 hailstorm that hit the metro area, which caused a record-setting $1.4 billion in damages, but that event can only drive costs higher in the future."

Oh hail!
Quick reply to this message

 
Old 02-27-2018, 03:11 PM
 
20,304 posts, read 37,784,136 times
Reputation: 18081
In COLO SPGS our homeowner's insurance ran $3700/year.
Here in Peoria, AZ our homeowner's insurance is $370/year....that's not a misprint.

In COLO SPGS we replaced the roof twice on our 2005 house, once in 2007 and again in 2011.
No hail storms or forest fires here in the Phoenix metro area like in COLO SPGS.
__________________
- Please follow our TOS.
- Any Questions about City-Data? See the FAQ list.
- Want some detailed instructions on using the site? See The Guide for plain english explanation.
- Realtors are welcome here but do see our Realtor Advice to avoid infractions.
- Thank you and enjoy City-Data.
Quick reply to this message
 
Old 02-27-2018, 03:22 PM
 
5,046 posts, read 597,010 times
Reputation: 13103
Yes, I believe this absolutely. Three years ago, our car insurance was $135 a month for a fairly new Mazda sedan. Now we are paying $205 a month for the same thing, although nothing has changed except that it is a newer model. (I live in SW metro Denver, btw.)
Quick reply to this message
 
Old 02-27-2018, 05:34 PM
 
20,304 posts, read 37,784,136 times
Reputation: 18081
I saw the hail damage to cars in my neighborhood and it was fearsome, every piece of glass was shattered, even on the doors, and any sheet metal that faced the sky was pock-marked. Some wooden decks got pounded so badly they had to be replaced. In the Aug 2007 storm EVERY house in our community of 94 homes got replaced, as did THOUSANDS of homes in Briargate and Pine Creek. When I took the check to the bank the teller laughed and said "I've seen a lot of these lately." Underwriting losses like that, plus almost a thousand homes burned to the ground, will make insurance rates dance like a man possessed.
__________________
- Please follow our TOS.
- Any Questions about City-Data? See the FAQ list.
- Want some detailed instructions on using the site? See The Guide for plain english explanation.
- Realtors are welcome here but do see our Realtor Advice to avoid infractions.
- Thank you and enjoy City-Data.
Quick reply to this message
 
Old 02-28-2018, 06:36 AM
 
161 posts, read 73,264 times
Reputation: 627
Quote:
Originally Posted by Mike from back east View Post
I saw the hail damage to cars in my neighborhood and it was fearsome, every piece of glass was shattered, even on the doors, and any sheet metal that faced the sky was pock-marked. Some wooden decks got pounded so badly they had to be replaced. In the Aug 2007 storm EVERY house in our community of 94 homes got replaced, as did THOUSANDS of homes in Briargate and Pine Creek. When I took the check to the bank the teller laughed and said "I've seen a lot of these lately." Underwriting losses like that, plus almost a thousand homes burned to the ground, will make insurance rates dance like a man possessed.
What is frustrating is even if you have a garage, and park your car in a garage, and therefore it does not suffer hail damage from a particular storm, your insurance will still go up, because of the "insurance pool" effect. Ugghh!!
Quick reply to this message
 
Old 02-28-2018, 07:40 AM
 
Location: Washington Park, Denver
6,526 posts, read 5,834,111 times
Reputation: 6824
Quote:
Originally Posted by townshend View Post
What is frustrating is even if you have a garage, and park your car in a garage, and therefore it does not suffer hail damage from a particular storm, your insurance will still go up, because of the "insurance pool" effect. Ugghh!!
But I think they give you lower rates for having a garage.
Quick reply to this message
 
Old 02-28-2018, 07:42 PM
 
647 posts, read 340,114 times
Reputation: 752
Quote:
Originally Posted by Mike from back east View Post
In COLO SPGS our homeowner's insurance ran $3700/year.
Here in Peoria, AZ our homeowner's insurance is $370/year....that's not a misprint.

In COLO SPGS we replaced the roof twice on our 2005 house, once in 2007 and again in 2011.
No hail storms or forest fires here in the Phoenix metro area like in COLO SPGS.
The Phoenix area is somewhat unique in its almost complete lack of natural hazards. However, I find it funny that Peoria, AZ is the only place I have ever lived where I needed flood insurance.
Quick reply to this message
 
Old 02-28-2018, 07:46 PM
 
647 posts, read 340,114 times
Reputation: 752
Seems odd to blame this on hail. Hail is certainly not a new phenomena.
Quick reply to this message
 
Old 03-01-2018, 08:12 AM
 
4,066 posts, read 2,052,415 times
Reputation: 7193
The rate rise probably stems from higher rates of vehicular theft and damage from attempted breakins. The parasites follow the normal residents during boom times.
Quick reply to this message
 
Old 03-01-2018, 02:41 PM
 
5,445 posts, read 4,393,490 times
Reputation: 14992
Quote:
Originally Posted by whocares811 View Post
Yes, I believe this absolutely. Three years ago, our car insurance was $135 a month for a fairly new Mazda sedan. Now we are paying $205 a month for the same thing, although nothing has changed except that it is a newer model. (I live in SW metro Denver, btw.)
You might want to shop around. I'm with USAA and for a 2016 Honda HRV EX-L and a 2009 VW Jetta SEL, we pay 135 a month. This is for 2 adults, no kids, clean driving records, in Castle Rock.
Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


 
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Colorado
View detailed profiles of:
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top