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I also wanted to mention - Travelers offer a 5 year "new car replacement" coverage which is unique. Other companies that offer that are mostly 1-2 years, one company offers it for 3 years. This is something that I need on my truck, so it will be hard to beat with a different insurance company.
My insurance has increased over the past few years but nothing like the OP’s. My house has gone up $12 in five years and my car has gone up $17 in two years. I have State Farm for both.
It is so important to have an independent insurance agent that will be proactive in looking out for you. In my opinion, buying insurance online is not the way to go. Find a good agent and stick with him or her. In my case, my agent shops my insurance annually. Two weeks ago, my agent called to recommend the change, which saved me $600.00. His agency did all of the work. They researched the companies, called me to make the recommendation, completed the paperwork, and e-mailed me everything. All I did was listen. It is good to know that personal service still exists. By the way, I have been with the same agent for 25+ years.
Yes, I can see how wildlife involvement can jackup insurance rates, but I have been in States with far worse drivers/driving habits.
As for the OP's query: I would bet that insurance companies had to pay out a lot during COVID.
Incorrect - anecdotal evidence. Not hard to research. According to the Insurance Institute of Highway Safety, South Carolina is #2 for fatalities. So if you been in "other states with worse drivers/habits" then that state must have been Rhode Island.
With a 12% at-fault accident rate, South Carolina drivers cause the most accidents in the country in 2022. SC ranks #7 among the worst states for drunk driving.
The more insurance companies have to pay for accident repair and healthcare for injuries the prices are going to increase to cover those costs.
It is so important to have an independent insurance agent that will be proactive in looking out for you. In my opinion, buying insurance online is not the way to go. Find a good agent and stick with him or her. In my case, my agent shops my insurance annually. Two weeks ago, my agent called to recommend the change, which saved me $600.00. His agency did all of the work. They researched the companies, called me to make the recommendation, completed the paperwork, and e-mailed me everything. All I did was listen. It is good to know that personal service still exists. By the way, I have been with the same agent for 25+ years.
How does your agent make money? Do you pay him a flat fee to find you the best deal? Or does he get a commission percentage?
I was wrong about this, at least for auto insurance. According to this article we are something close to 13th most expensive. They don't list all states in order of average price but on the top ten most expensive Colorado is the 10th most expensive at $2489, then California and Delaware, then South Carolina is at $2387
Most curious to me is that North Carolina is 6th cheapest in the nation at $1307. What could it be that makes South Carolina 80% more expensive than North Carolina?
SC is not 80% more accident prone or 80% more likely to DUI. I wouldn't guess vehicle inspection makes such a huge difference. I suspect NC has some kind of law limiting liability in accidents.
My rates in NC were noticeably lower, in a State that's more populated. SC has higher mandatory liability requirements (if I am not mistaken), and I would also attribute road conditions as well: NC DOT puts a lot of effort into engineering turning lanes with collision avoidance built into their designs.
Quote:
Originally Posted by sbi
I honestly can't see how Covid has anything to do with this. What did they have to pay during Covid that they didn't before?
Quote:
Originally Posted by furmanpals
Why would house and car insurance companies have to pay out a lot during COVID?
I am not in insurance, so my reply is based with limited knowledge. But I would imagine that the portfolios of insurance companies span several areas, and medical and death benefit payouts must've gone through the roof with COVID.
Incorrect - anecdotal evidence. Not hard to research. According to the Insurance Institute of Highway Safety, South Carolina is #2 for fatalities. So if you been in "other states with worse drivers/habits" then that state must have been Rhode Island.
With a 12% at-fault accident rate, South Carolina drivers cause the most accidents in the country in 2022. SC ranks #7 among the worst states for drunk driving.
The more insurance companies have to pay for accident repair and healthcare for injuries the prices are going to increase to cover those costs.
Thank you for your correction.
I still can't shake the notion that a fair number of fatalities were caused by wildlife; the behavior of drivers in NY was far worse than anything I have experienced in SC. Far worse. Far greater incidence of road rage, careless behavior, the disregard of stop signs, etc.
Your anecdote about drink driving is easy to believe, as SC roads aren't heavily patrolled.
One thing you can try to reduce rates is check your yearly mileage. Especially if you work from home now, changed jobs or retired.
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