Has your auto insurance in Phx gone up a lot in last year? (Phoenix: car insurance, credit issues)

[ps2cho]

So I don't get it...I've never seen rate increases like I've experienced in the last 12 months.

I've always paid ~$500 for 6mo for my two vehicles for the past 5 years and in the last 12 months it's risen to now $900 and I've shopped a ton of carriers who range from 900-1200.

Has all of Phoenix gone up or what the heck is going on? I've had no claims or anything at all! Its not my credit score either.

[observer53]

Originally Posted by ps2cho

So I don't get it...I've never seen rate increases like I've experienced in the last 12 months.

I've always paid ~$500 for 6mo for my two vehicles and in the last 12 months it's risen to now $900 and I've shopped a ton of carriers.

Has all of Phoenix gone up or what the heck is going on? I've had no claims or anything at all! In fact my credit score has improved, not that it was ever bad...but it's not my credit score!

Have you actually asked your agent/carrier what's changed that caused the increase?

[ps2cho]

Originally Posted by observer53

Have you actually asked your agent/carrier what's changed that caused the increase?

I've asked a few that I've gotten quotes with and they never give a straight answer...they just say could be the zip code. Well I recently moved to a new house in Gilbert and rates didn't change at all.

I have a 1988 Mercedes and a 2008 Mercedes fwiw...

[stevek64]

Originally Posted by ps2cho

I've asked a few that I've gotten quotes with and they never give a straight answer...they just say could be the zip code. Well I recently moved to a new house in Gilbert and rates didn't change at all.

I have a 1988 Mercedes and a 2008 Mercedes fwiw...

Recent accidents? Violations? Big credit score change? Your current insurer should be able to tell you what the rate increase is about. If they can't/won't, I'd find a new insurer, pronto.

Regardless, I'd just shop around for the lowest rate with a reputable insurer. Lowest rate wins. It is what it is.

[ScottsdaleMark]

My rate went up moderately, maybe 5 or 7 percent or something like that, but I remember seeing that it had gone up. My insurer said it was a state-wide increase being phased in across the board. But obviously that would just be true for that insurer, I couldn't say for sure. I didn't have any incidents/claims/credit issues/etc of any kind.

Maybe all the new cars people have been buying in record numbers is leading to more expensive accidents which is leading to higher rates? That's my off-the-cuff guess.

[ps2cho]

Originally Posted by stevek64

Recent accidents? Violations? Big credit score change? Your current insurer should be able to tell you what the rate increase is about. If they can't/won't, I'd find a new insurer, pronto.

Regardless, I'd just shop around for the lowest rate with a reputable insurer. Lowest rate wins. It is what it is.

Well that's what I am doing but every carrier has the same quotes! I can't find anybody that is closer to $500 I'm used to paying!

No tickets, nothing. I had a no-fault accident 18mo ago, but saw no increase since I was deemed not at fault and nothing was paid by my insurance. I've two renewals since that with no increase. Now 3 later it's suddenly going up.

I can't be dinged for a no fault almost 2 years later when I otherwise have a flawless record? I don't even have a speeding ticket in 10 years of driving...

[ajonesaz]

Cars have been going down, homeowners kept jumping big time with State Farm so I left. They never could tell me why the increase every year with zero claims.

[MrsMac]

In general auto insurers suffered significant losses last year; more people were on the road (low gas prices were a contributing factor), there were more accidents and claims paid out were higher than ever. (As cars get more advanced, technologically speaking, their repair costs go up if there is an accident.) As a result, auto insurance premiums are going up across the board at almost all companies. Yes, it will be worse if you have issues (points, claims, etc.) but most everyone will see an increase.

[Finger Laker]

Auto insurers are getting bludgeoned and Arizona is a relatively rough state. Look at the news, crazy amount of serious accidents out there. A couple insurers were of on their reserves by hundreds of millions, one even lost a merger because of it

If you feel you are getting a bad deal then shop it

[MN-Born-n-Raised]

Originally Posted by ajonesaz

Cars have been going down, homeowners kept jumping big time with State Farm so I left. They never could tell me why the increase every year with zero claims.

Both of our homes are with State Farm. To answer the why, State Farm wanted their customers to have more skin in the game (with higher deductibles). In short, too many people were making petty claims. Once a person opens the spigot and makes a claim, too many people tend on adding in other items to get more $$'s. So State Farm jacked up their rates a lot yet their rates plummeted if you accepted a $2000 deductible. Putting it another way, if you compared the previous years $2000 deductible rates with current $2000 deductible rates, they were comparable. If you really wanted your old $500 deductible, then they were going to charge through the nose until you either left or took the higher deductible. The bottom line is State Farm actuaries correlated a much lower payout with higher deductibles and lower insurance rates versus a low deductible and higher rates so they instituted the hike and it was STEEP.

I am a fan of State Farm because they actually payout when you have a problem. Price, quality, and service. Pick 2 of the 3. If you get a stellar price normally quality of the level of service is inferior. With insurance, I am willing to pay an extra $100 to go name brand versus podunk brand. The last time I shopped a name brand home insurance (and had the $2000 deductible), State Farm was leading the pact. There are lower car insurance companies. But sometimes a company will lead in say homeowners but be too expensive on car insurance. Additionally, some brands may be great for most car insurance rates but their actuaries have calculated a much higher rate for young males. AAA insurance comes to mind (great young driver rates for girls but high rates for boys).