Colorado Insurance Rates (Denver: 2014, house insurance, credit)

[Vision67]

I just got my car and house insurance rate statements for the next year.

Car insurance went up 12.9% and house insurance went up 11.3%
I've made no claims.

We really do pay a hail tax in Colorado on both cars and houses.

Furthermore, on the house, rising construction costs have an impact.

I guess I'll have to shop around again.

Are your rates climbing that much?

[COcheesehead]

You are not rewarded for being loyal with insurance. Companies will use gimmicks to make you think it pays to stay, but it usually does not. We shop it every two years through an independent broker and we almost always drop our costs.

[townshend]

Insurance is based on the "pool" concept. If you insurance company has to pay out lots of money in claims, then they raise everyone's rates to reclaim the payouts. It doesn't matter if you filed a claim or not.

And then again, if you do file claims, it feels like your own rates go up. Go figure.

[jim9251]

My agent told me my insurance went up because I'm paying "for those drivers in Denver".

[pikabike]

A long time ago, the insurance rates I had had with the same company for years suddenly shot up. I had not done anything to merit the increase. When I called the agent, he said that the company preferred to do infrequent big rises rather than more frequent small ones.

I thought the amount involved was exorbitant given my driving record, the fact that the primary vehicle was garaged and not used for work or school, etc. So I switched providers.

Shop around.

[davebarnes]

AMICA
2014 -$1050
2018 - $2333
We did have a $30K hail damage claim in 2017.

[COcheesehead]

We insure a 2016 Jeep Grand Cherokee, a $740,000 house and a $3 million umbrella for just under $2000. We had a $9500 auto hail claim. We also have some jewelry riders on the policy.

[mbalmedpoet]

I was told earlier in the year that they are going up everywhere. I shopped and found a better rate with a different company. Even those rates were raised some. They have to pay for all the hail damage, uninsured drivers, increased accidents from traffic and road rage. Plus a lot of homes are being damaged by hail and wild fires. The only state where insurance rates are going up faster is Mississippi.

[illinoisphotographer]

Originally Posted by COcheesehead

You are not rewarded for being loyal with insurance. Companies will use gimmicks to make you think it pays to stay, but it usually does not. We shop it every two years through an independent broker and we almost always drop our costs.

Strangely, I had a bad experience with two independent brokers I used. I got their quote (both of which the best rates were through Traveler's for us) and then I went to Traveler's website directly and got the same coverage for almost $200 less. So for me, it made more sense to just DIY.

[GreenScoutII]

I've noticed the increase, particularly where auto insurance is concerned. I've shopped around quite a bit and they all seem to want to charge me as if I were an 18 year old with multiple DUI's!


My current insurer is charging $207 monthly for an '08 Mazda Tribute and an '06 Mazda 3.....


I don't get it. I'm over 40, I haven't filed an auto insurance claim since 1992, and I haven't received a ticket or citation for anything since 1996. My credit is good as well. Just seems high to me.