Car insurance increases

[msRB311]

My husbands driving record is as clean as they come too

[BostonMike7]

Originally Posted by BruinsGirl

We pay $1100 for two brand new cars. We do have clean records and live outside of Boston. It really depends on city/town.
I wouldn’t call Massachusetts rates very high… some other states are way higher

That's very good. My wife's brand new car is $1400/year.


Add in my cars and we are at $3600/year for 3 cars plus $600/year for collector car insurance on one other.

[Mathguy]

Inflation on auto related items has been higher than average inflation, which is a lot.

Throw in car theft, catalytic converter theft, uninsured drivers and social inflation on litigation awards etc. and it all adds up.

Other factors not widely discussed can be things like driving habits where people got used to higher speeds and more open roads during covid and still carry those habits despite increased congestion.

If you want to see what uninsured or underinsured motorists are costing you, get an itemized bill and look for UM\UIM premium.

[msRB311]

Seems like there are people with very bad driving records are...can only imagine how much their insurance must be.

[Louisville Slugger]

Originally Posted by newenglandgal123

Wow, $1100 for 2 new cars. You have a very good deal. I pay more than double that for a 1 year old car w/clean record!

Yeah, that is a very good deal. I pay $807 per year for a 2008 Honda Civic EX.

I get a 3% discount for paying in full and a 11% early issuance discount.

This is through Safety Insurance.

Took a screen shot of my coverages and attached below. At some point I should consider dropping collision and comprehensive coverage.

[robr2]

I'm with Mapfre and my policy went up about 10%. My agent and I worked out a way to keep it flat then my employer asked me to raise my coverage - I use my car in my job - and the rate is back up to where it was.

I also have Mapfre and my homeowners went up 45%. I asked my agent why and she replied "because they can."

[redplum33]

I was just reading a thread that showed up in the "Fresh and popular discussions" sidebar and someone was saying they were quoted 6k a year to insure a 2024 Honda Accord in Florida.


Edited to add: https://www.city-data.com/forum/flor...accord-lx.html

[Mathguy]

Originally Posted by redplum33

I was just reading a thread that showed up in the "Fresh and popular discussions" sidebar and someone was saying they were quoted 6k a year to insure a 2024 Honda Accord in Florida.


Edited to add: https://www.city-data.com/forum/flor...accord-lx.html

I was posting in that thread and I'd take that claim with a grain of salt.

Most of the posters there responded with much lower prices.

Although FL does have some of the highest premiums of any state which is driven by a number of factors but mainly their no-fault insurance environment that has created an entire cottage industry of medical and legal services swarming every accident.

[lrfox]

Originally Posted by Mathguy

Inflation on auto related items has been higher than average inflation, which is a lot.

Throw in car theft, catalytic converter theft, uninsured drivers and social inflation on litigation awards etc. and it all adds up.

Other factors not widely discussed can be things like driving habits where people got used to higher speeds and more open roads during covid and still carry those habits despite increased congestion.

If you want to see what uninsured or underinsured motorists are costing you, get an itemized bill and look for UM\UIM premium.

Insurance companies are squeezing people on both ends. My friend owns a body shop and says that most companies have changed their policies on parts (i.e. no longer requiring OEM parts on newer cars) and they set their own labor rates which are generally lot less than the shop's (the shop eats the difference). He also said they're pushing back harder on estimates than they ever had have in the past. Same adjusters in many cases, but now with instructions to dispute more of the initial estimate.

[Mathguy]

Originally Posted by robr2

I'm with Mapfre and my policy went up about 10%. My agent and I worked out a way to keep it flat then my employer asked me to raise my coverage - I use my car in my job - and the rate is back up to where it was.

I also have Mapfre and my homeowners went up 45%. I asked my agent why and she replied "because they can."

Home and auto are highly regulated so if it went up 45%, it needed to go up at least that much.

Your agent is actually giving an incorrect response.

A better response would be that they were able to show the need for a 45% increase and upon review the state approved that they do that.