Insurance companies?

[snow2]

Renewed my homeowners and vehicle policies, slight increase like every year but suspect we all will be on the elevator bigtime now afterthis cali tragedy, will this bankrupt the insurance industry? Gotta be a breaking point where we no longer can afford insurance

 

[MSA]

Front end parts on cars have trippled since covid and the union strikes. A lot of insurance companies got hit hard and ran in the red for at least a few years. Auto insurance will be going up again, and keep going up until they figure out how to price auto coverage differently.

The problem I see, is I pay the same on full coverage for my older F-150 as a guy with a fancy BMW of a similar year. My F-150's headlights are 250$, bumper 300$, fenders 300$ etc....but, for just 1 headlamp in that BMW it's 7,500$.

Insurance companies need to base policy prices on the cost of commonly replaced parts of the vehicles instead of just a generic amount based on the driver's risk factor.

 

[Wall-eyes]

The world is mess cant blame those fixing or selling damn last president did not help.

 

[snow2]

I ended up increasing my deductible on my vehicles and liability only as i drive only 3500miles annually on my economy 2004 honda and basically store my newer truck all winter after hunting season,ice fishing trips I tagged along with the young guyz,we seniors know things like fish hot spots from years past still holding fish.

 

[Obi-Wan]

Renewed my homeowners and vehicle policies, slight increase like every year but suspect we all will be on the elevator bigtime now afterthis cali tragedy, will this bankrupt the insurance industry? Gotta be a breaking point where we no longer can afford insurance

we are near that now and it is not just homeowners insurance. a

 

[riverview]

honestly i have paid into insurance for 42 years and never really used it, hindsight i would of been better off self-insuring. my only big claim was a hail storm and american family canceled my house ins. i can see people without loans start carrying liability ins only.

 

[Skeeter]

My home owners is going up almost 40 percent.

 

[snow2]

My home owners is going up almost 40 percent.

Yikes! That would be a deal breaker for meas my house in mn is pd for,ive seriously thought about canceling my home owners recently and roll the dice.

 

[johnr]

Yikes! That would be a deal breaker for me as my house in MN is pd for, I've seriously thought about canceling my home owners recently and roll the dice.

Put a high deductible on it, but I sure wouldn't be completely out of the cover your ass situation. Unless you have been holding out, and are quite rich.

 

[snow2]

Put a high deductible on it, but I sure wouldn't be completely out of the cover your ass situation. Unless you have been holding out, and are quite rich.

Not rich,no family not much over head like taxes nothing to show for my investment of $1000's with major insurance increases looming.

Hopeful Trump willnix our senior ss tax and real estate tax he talked about.time will tell

 

[Obi-Wan]

My home owners is going up almost 40 percent.

That’s because the county assed your home and says it is worth that much more