F car insurance

[Anonymous]

His the hell does my car insurance keep exploding up even though my car keeps getting older with a lot more mileage? I’m paying much more now than when my car was brand new! It’s a 2016 Mazda 3 that cost about $21,500 new. It has 117k miles on it, and now State Farm jacked my biyearly payment to $750!

Yes, I know of all of the articles talking about how insurance rates keep going up due to inflation and cost of parts, but this is getting ridiculous. $1500+ per year to insure a crappy Mazda 3 with almost 120k miles is absurd.

States and localities really need to get a goddamn handle on cracking down on the ridiculous aggressive driving, drivers without insurance, and crime/carjackings too. They’re going to male it completely unaffordable for the middle class to be able to get to work at this rate. And how the hell are so many people driving $50k+ cars these days, often even 2 per household, with ridiculous car insurance rates ballooning these days. God I hate transportation in this country.

[Anonymous]

Where do you live,

[Anonymous]

Shop around, OP. Aggressively.

[Anonymous]

I have a 2009 Ford Escape with 182K miles on it and it's worth about $3000. State Farm just raised my premiums for the second time in six months. In May they went up about $20 a month and now it's time for renewal and they went up another $17 a month. Total for six months is $740.

I've been a customer of SF since 2006 and never had a claim. When I questioned the May hike I was told it was across the board for the state and apparently this one is too. I have good coverage because I'm afraid of being in an accident where I'm at fault and not having enough coverage if I hit an $80,000 car and the medical bills are a million dollars. For that reason I'm unwilling to reduce my coverage to the minimums just to save on the premiums.

I'm very much afraid of what my premiums would be if I had to get a newer car so I'm babying this one but the future looks bleak car insurance wise.

[Anonymous]

Kids carjacking cars.

[Anonymous]

Switch companies.

[Anonymous]

Geico said that I have to fix other people's cars. That's in DC. I'm paying $660 for 6 months for 5-year old Honda that I barely drive.
I have to suck it up because all other companies have been even more expensive.

[Anonymous]

It is not about your old crappy car. Drop collision if you don’t think it is worth anything. You would still need to carry the liability insurance which will pay if you are at fault for damaging other cars

[Anonymous]

Anonymous wrote:Geico said that I have to fix other people's cars. That's in DC. I'm paying $660 for 6 months for 5-year old Honda that I barely drive.
I have to suck it up because all other companies have been even more expensive.

What do you people think insurance is?

[Anonymous]

You know it’s not just about replacement of your car. If you hit a nice brand new $100,000 car and total it and put the other driver in a coma requiring hundreds of thousands in medicals, that falls under your car insurance.

[Anonymous]

When I questioned the May hike I was told it was across the board for the state and apparently this one is too.

This. Our insurance for two older cars has nearly doubled in the past two years despite no claims or tickets. When we asked, we were told that the state authorized two 20% across the board rate increases. Really? Who thought that was a good idea?

[Anonymous]

What’s your deductible and your limits? Ie how much insurance are you buying?

I have a $1k deductible and 300/500/300 limits for all three cars. My brand 2 year old Audi is maybe $800 per half of the year.

I live in a suburb in Nova so if you’re in DC it may be bc of thefts.

[Anonymous]

Anonymous wrote:You know it’s not just about replacement of your car. If you hit a nice brand new $100,000 car and total it and put the other driver in a coma requiring hundreds of thousands in medicals, that falls under your car insurance.

Only if you have insurance in that amount, of course. If you have less than that they can really only get what you have available. After they exhaust the insurance limits they can come after your liquid assets, but they generally can’t take your home. Umbrella insurance is meant to cover the scenario you describe.

[Anonymous]

Anonymous wrote:I have a 2009 Ford Escape with 182K miles on it and it's worth about $3000. State Farm just raised my premiums for the second time in six months. In May they went up about $20 a month and now it's time for renewal and they went up another $17 a month. Total for six months is $740.

I've been a customer of SF since 2006 and never had a claim. When I questioned the May hike I was told it was across the board for the state and apparently this one is too. I have good coverage because I'm afraid of being in an accident where I'm at fault and not having enough coverage if I hit an $80,000 car and the medical bills are a million dollars. For that reason I'm unwilling to reduce my coverage to the minimums just to save on the premiums.

I'm very much afraid of what my premiums would be if I had to get a newer car so I'm babying this one but the future looks bleak car insurance wise.

You should consider dropping your auto limits and getting an umbrella policy to cover that remote chance. I have both through State Farm. Call your agent to discuss options.

[Anonymous]

Anonymous wrote:It is not about your old crappy car. Drop collision if you don’t think it is worth anything. You would still need to carry the liability insurance which will pay if you are at fault for damaging other cars

If I dropped collision and comprehensive I would save $26 a month. Doesn't seem like a good idea.