State Farm wants to raise auto ins. by 24% (Washington: renters, car insurance)
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Obviously same for you in NJ as for me in NC. I was able to keep my policies pricing the same in 2024 as 2023 bundling with Erie. I have clean records forever on home and auto yet my current HOI carrier wanted close to a 25% increase. Auto went up home went down so I managed to save a little.
Travelers wanted 25% more All State who I had auto with wanted 60% more for homeowners insurance.
I had Geico for close to 15 years their pricing is nuts now too. GL.
Insurance companies make tons of cash on the volume of nuance in their settlements.
Been there done that, straightened out by the NJ dept of insurance, div of investigation. Subscribers roll over and figure you can't fight an insurance company. A grand here, a grand there and it adds up to real money.
Insurance rates high, partly because of the destruction of the cornerstone of the economy on day 1 of the new administration. Shortage of supplies, energy cost to manufacture and transport auto parts. Totaling repairable cars because of the shortage of parts and lengthy delays in delivery and storage at body shops with limited space. A gallon of metallic maroon paint was about 45 dollars way back when, now the red spectrum and metallic paints run around a grand or more. Toss in radical EPA regs and costs can only explode
Then we have a horde of unlicensed drivers from all over the world. Some get driver licenses handed to them fake insurance cards and are unable to read signs. Not that the horde of legal citizens obey traffic signs. Just more scofflaws who make it miserable for the rest of the drivers. Cops writing fewer tickets, afraid to stop cars because of no backing by elected officials and threat of lawsuits turn the roads into dodge city.
Insurance companies make tons of cash on the volume of nuance in their settlements.
Been there done that, straightened out by the NJ dept of insurance, div of investigation. Subscribers roll over and figure you can't fight an insurance company. A grand here, a grand there and it adds up to real money.
Insurance rates high, partly because of the destruction of the cornerstone of the economy on day 1 of the new administration. Shortage of supplies, energy cost to manufacture and transport auto parts. Totaling repairable cars because of the shortage of parts and lengthy delays in delivery and storage at body shops with limited space. A gallon of metallic maroon paint was about 45 dollars way back when, now the red spectrum and metallic paints run around a grand or more. Toss in radical EPA regs and costs can only explode
Then we have a horde of unlicensed drivers from all over the world. Some get driver licenses handed to them fake insurance cards and are unable to read signs. Not that the horde of legal citizens obey traffic signs. Just more scofflaws who make it miserable for the rest of the drivers. Cops writing fewer tickets, afraid to stop cars because of no backing by elected officials and threat of lawsuits turn the roads into dodge city.
Nailed it. You do enough stupid and after a while it catches up to you. Who did you think was gonna end up paying for all the destruction?
I too SMH when I hear these sort of comments. Insurance companies are in the business of risk -- if I have to keep paying higher premiums, then what I do need them for ? I'll just invest the $$ elsewhere, and pay for damage myself if/when needed.
It's just a money grab, under the smokescreen of inflation/etc. Compulsory insurance needs to go away.
Insurance companies are in the business of risk -- if I have to keep paying higher premiums, then what I do need them for ? I'll just invest the $$ elsewhere, and pay for damage myself if/when needed.
It's just a money grab, under the smokescreen of inflation/etc. Compulsory insurance needs to go away.
I assume that, like me, you could easily afford to pay for repairs to your car--or to replace your vehicle--in the event of an accident. However, I don't know too many people who could afford the possible financial consequences of being sued by the other party when you're involved in a collision.
I would like the option of being insured only for lawsuit protection, but I don't think that exists, so I continue to maintain full coverage--with very large deductibles--with NJM.
I assume that, like me, you could easily afford to pay for repairs to your car--or to replace your vehicle--in the event of an accident. However, I don't know too many people who could afford the possible financial consequences of being sued by the other party when you're involved in a collision.
I would like the option of being insured only for lawsuit protection, but I don't think that exists, so I continue to maintain full coverage--with very large deductibles--with NJM.
If you own the car outright you don’t have to carry comprehensive. It’s only required if a bank holds the title.
You have to shop your insurance every 6 months. I had Geico, it went up 20% I switched to NJ Skylands. NJ Skylands went up I switched to Progressive. Progressive went up, I switched to Amica. I pay the same today as I paid 3 years ago and we have two new cars compared to 3 years ago.
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