Insurance premiums on the rise

[dschaible]

Insurance premiums in 2024 will increase by about $715 from 2023 for us. Small house, paid off vehicles. A 40% increase in auto premiums no claims, no accidents and additional drivers no additional or changed vehicles. Boat insurance actually went down $1 a month and umbrella coverage is the same i beleive. We insure through American Family. Is it worth looking around? and where is the best option?

Car insurance - 3 older payed off vehicles never been in an accident or had a claim, 1 with full coverage.

period 3/1/2023 - 9/1/2023
- $458

period 3/1/2024 - 9/1/2024
- $642

40% increase in 1 year.

Homeowners

period 3/1/2023 - 3/1/2024
- $1500

period 3/1/2024 - 3/1/2025
- $1850

23% increase in 1 year.

 

[Bfishn]

Everyone should get their insurance requoted by other companies every few years. These companies bank on you just staying put. Everyone also fits into insurance programs differently so what works for your friend or family member may be the opposite for you.

 

[risingsun]

Maybe the greasy biker will weigh in on this. Unless he lost all his weight last month.

 

[Kurtr]

Its because of so many uninsured and all the natural disasters. Thats what all the articles have said. That and they can fuck you dry with no lube at any giving moment if you use the insurance you have paid for your whole life..........

 

[Wall-eyes]

Insurance premiums in 2024 will increase by about $715 from 2023 for us. Small house, paid off vehicles. A 40% increase in auto premiums no claims, no accidents and additional drivers no additional or changed vehicles. Boat insurance actually went down $1 a month and umbrella coverage is the same i beleive. We insure through American Family. Is it worth looking around? and where is the best option?

Car insurance - 3 older payed off vehicles never been in an accident or had a claim, 1 with full coverage.

period 3/1/2023 - 9/1/2023
- $458

period 3/1/2024 - 9/1/2024
- $642

40% increase in 1 year.

Homeowners

period 3/1/2023 - 3/1/2024
- $1500

period 3/1/2024 - 3/1/2025
- $1850

23% increase in 1 year.

Ouch for sure, I have State Farm maybe see normal 3 to 5% increase at times.

 

[Tikka280ai]

I just had all my insurance redone last week. Went from paying 300ish a month for 4 vechiles, 2 with full coverage, atv and rv/fish house. To now paying 280 for the same vechiles atv and rv/fishhouse as well as renters and farm insurance covering cattle and equipment. Seems like a good idea to shop around every couple years to me

 

[jer79]

we had our homeowners insurance cancelled recently. my ins agency called me and said it wasn't just us it was every homeowner with that particular company ( grinnell ). So they got us on with a different company for our 2 vehicles , atv, and house. Our old cost was about $3300 a year, never a claim. Now with the new company it went to about $2000 a year. It worked out good for us to get switched. As stated previously, it is a good idea to get a new quote every once in a while. They crept it up a lil here lil there and I just paid it thinking I was probably getting a decent deal.

 

[Bauer]

D, we have had really good luck with Bobbi Jo at Nodak here in Garrison. Have her quote your current cover pages to see apples to apples!

 

[Rowdie]

If you pay your premium they shouldn't be able to cancel you. There's something our law makers should think about.

 

[jdfisherman]

Got our auto renewal this week. Not sure how much it went up but it seemed expensive so I called our agent to see if there was any coverage to be adjusted or discounts we were missing out on. She said to switch to paperless - that should make a difference. I'm think $5 or maybe $10, but it was a $90 savings per 6 month renewal to go paperless. I'm guessing they have a "program" that says if they're calling they must be thinking about switching so offer them something significant enough to make them stay, and the savings is variable depending on what your current policy costs.

 

[zoops]

Definitely shop around, but I have also heard that premiums will be increasing significantly nationally. Suppose it makes sense with the cost of everything else. I switched from State Farm to American Family last year, saved over $800/year on homeowners and ~150 per vehicle.

 

[Pheasant 54]

You want to get quotes from and independent agent, they have access to many companies. When you go with most of the companies talked about above , they are captive agents and only quote one company . Have an independent agent get you a quote and ask them to make sure and include Auto Owners Insurance in their search . I have them and they are competitive

 

[riverview]

i had american family years ago and had a big hail storm roof and siding. as i was picking up stuff after completing another hailstorm American family canceled my policy. agent could do nothing as it was corporate. i insure 3 houses and 6 vehicle's.

 

[SLE]

The insurance industry is joke. They get you in with a low or competitive rate and then bank on you staying put and not shopping it for several years. And the more stuff you have to insure, the worse it is because making a switch is more painful. Seems I have to shop and switch every 2-3 years to keep premiums in check. Heck, I've been with some of the same companies multiple times (not consecutively). I've had them raise rates even though everything I own got older, is valued less, and we have no claims. I hate it......... Fortunately, my last round I was able to keep things in check by going to high deductibles. At this point in life, I'm only looking for protection if something catastrophic happens. Reality is, if it's grand or two or three, I just absorb it because if you make a claim they ding the shit out you and get it back the next year or so anyway. So you end up eating it no matter, pay now or pay later, but you'll pay none the less.

 

[1lessdog]

I look at it this way. Insurance company's that have lots of commercial's on TV the rates will be higher. Someone has to pay for them ads. I have Auto-owners its cheap I think. I have a 2013 and 2018 F150's with full coverage and 500.00 deductible and pay just over 1300.00 a yr for 2 trucks.

I keep telling myself I should go get a quote from State Farm just to see the rate.

 

[Zogman]

Not wanting to high jack. I good friend retired abiut four years ago and had time so read his complete home owners policy. We have the same company and agent. He called me up and his comment was "I don't think I am covered for anything".

 

[Obi-Wan]

Last time I shopped around for car & homeowners insurance the 1st question they asked is " what are you paying now " ? I told them it doesn't matter what I am paying now just tell me what they have to offer and their rates and I will decide if it is worth changing.

They also ones credit score as one of the factors to determine premiums

 

[Fester]

Why cant we self insure with vehicles? I get this would take a chunk of spare change but shouldn't this be an option if you so choose?

 

[espringers]

it is. companies do it all the time.

 

[Pheasant 54]

Why cant we self insure with vehicles? I get this would take a chunk of spare change but shouldn't this be an option if you so choose?

You can for Comp and collision if you have it paid for . It wouldn't work in a million years for liability , not a lot of people would have enough assets to lose if they caused an accident with injuries or death and that's about the cheapest portion of it anyway .