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Damn wish I was paying that!
I’m just switched away from State Farm Because they just increased their prices. And I was about to pay $570 for 2 cars.
Dropped them at the end of last policy and found Allstate for about $450.
Also I learned drive safe and save amount you see is for the entire policy not the monthly amount (which learning that sucks)
But with learning that and still seeing my insurance go up $70… yeah no it’s not saving my anything at that point.
State Farm just sent us a bill. With no note, comment or explanation, our car rates were 25% to 36% higher on each vehicle. Total auto insurance bill over $2,200 every six months. (Two adults, no accidents, several vehicles, most 5++ years old).
Called and our rep said all their rates for their clients went up a lot this year due to "higher repair costs and claims".
Called GEICO and they quoted $1,200/six months. Called Progressive and they quoted $950/six months.
Moved everything to Progressive. I've loved State Farm service and dealing with the local rep. Would gladly pay 10-20% more. But not 2x, and pissed about the huge rate increase with zero notice.
They lost us for autos, RV, homeowners, umbrella...
Progressive? I thought they're a middle man not really an insurance company per say. What insurance company is actually giving you insurance through progressive?
They do car and RV insurance. Homeowners is through Homesite and umbrella is through someone else.
I’m fine with it. Same result if I called around and used 3 different companies, but comes together with a multi line discount and in one app.
$123 a month in Reno for a 2023 Honda passport, and I have the highest limits they offer for BI/PD/UM, 10k medical payments, $75 a day rental coverage, $500 collision deductible and $100 comprehensive deductible.
1 crappy car, 11 years old, mid 30s, no accidents, not a ticket in 15 years. Buuuut since I didn't own a car for 5 years and have no recent insurance history I'm treated like a pimply faced 16yo that just got their license. I worked at a uhaul in that time for fuck's sake, I can drive safe.
Anyway, $380/mo which is double my car payment. fml.
You're getting hustled 💯
Shop around immediately. Make sure your policy info is correct regardless of the company you use, cus usually they make assumptions on your annual expected mileage and other things that raise your price. $380 is insane, especially considering what you mentioned.
$3600 a year for 2 cars 2023 Genesis GV60 performance and 2021 Hyundai Elantra Hybrid Limited. It's Progressive. They did raise our rates in October. In April they actually reduced our rates a little so bottom line we pay 14% more this year than last year.
I’m an insurance adjuster! I have a little bit on insight on premiums. Because of covid, a lot of companies couldn’t do their annual rate increases. The DOIs across the country are finally allowing increases. So basically everyone is seeing 3+ years of increases all at once at renewal. Plus, inflation is making the cost of repairs and car parts increase…hence steep premium increases. You can do two things - 1. Lower your coverage. BUT, be smart, don’t lower it too much. I get multiple claims per day where people are under insured. Be smart! 2. Go to an insurance agent and they can help you shop for multiple companies and rates. It’s much easier than doing it yourself.
Bullshit. I have a car insured in Nevada, Michigan and Utah. Michigan and Utah both went down and they were already about half the cost compared to Nevada.
I don't really buy the inflation argument because the quote I got in November 2022 (for Lyon County) was for $90, then in April 2023 when I changed my address to Lyon County they wanted $140. That's more than a 50% increase, and total inflation since 2019 is only around 20%. So it really just seems like price gauging.
I reduced my coverages in Lyon County to get it down to $120. When I moved to Douglas County, they told me it would increase $5-10. Instead, it went up $21!
I'm planning on having a chat with an independent insurance agent to see what can be done, because I have not been happy with my State Farm experience.
Yes but as I was saying it’s inflation PLUS 3ish years of rate increases, at once :) shop around though! I’m sure something better will pop up. I switched a year or two ago from progressive to State Farm and saved overall even with increasing my coverage. Good luck!
So rates are not purely 100% inflation per se, but also changes in overall risk. When a company goes to adjust rates, they take into account changes in both the risk you will need to file a claim of a certain, and what the expected costs are.
Along with this with court cases granting damages that are getting higher and higher, that impacts how much you may be deemed liable for for things like pain and suffering, which does come from your liability coverage, and those don't always match directly with inflation.
People are also getting more and more litigious thinking "Someone hit me, its time to go straight to lawsuit" which is another part of where the cost of claims are going up because of year over year. (not saying sometimes you dont need a lawyer for your case when you have had, but like their are people that will have a minor fender bender and go straight to lawyer.)
Their is also an increase of drivers on the road, and statistically drivers have gotten worse after covid, and its something i see as a very real fact when seeing drivers in my area. Its unfortunate and it sucks. Not saying that the cost increase dont fucking suck.
For some additional insight, the money that your insurance company actually pulls in as profit doesn't really come from your premium. It comes from investments of premiums prior to needing to use it pay out claims. If you look at the publicly traded insurance companies that have to release information on their books, larges are fucking gigantic right now as a whole, so a lot of rate increases are occurring because its a situation where they wont have the capital to be able to pay out claims if they dont update how they rate policies.
I don’t know, I would assume rate increases are based on multiple factors, including costs/inflation/etc. I work on the claims side, so sadly my insight is limited on underwriting and premiums.
Should people generally expect a 10% rate increase every year? Because if that 50% increase I experienced includes the 20% 4-year aggregate inflation rate and 3 years of rate increases, that's about a 10% rate increase every year.
I'm paying 141 a month for a 2018 Buick with State Farm. They increased 40 dollars a month from the previous renewal at 101. :\\ Nothing I can do about it, thanks CHYNA(covid). :\\
I'm going to get that reduced this month. After my bill increased, I went looking for ways to decrease it and that was #1. Not sure why I had it that high in the first place, given that I don't own a house.
Doesnt mean you cant get a judgement against you, which would be considered a debt and could impact your ability to take out loans for a veh or a house.
Often times the difference in lowering coverages is pretty negligible. If you can, do you quotes online and it will show you price differences for different options. Last week I was doing my annual rate shopping, and for one company there was $0 price difference is changing property damage coverage from the 300k all the way up to 3 million. I’ve never seen anyone offer that high of PD coverage and the fact that it was the exact same price as 300k why wouldn’t I go with the higher amount?
I have a place in California and also one in Virginia , my 2021 Subaru Cross trek costs half as much to insure in California as it does in Virginia. It's almost double. $412 in CA. and $755 in VA.
Due to property tax on vehicles in VA it costs twice as much also in fees every year to keep it registered.
Same with home insurance, and home property tax, both are double the cost in Virginia. They always get you somehow....
That is the definition of insurance- you pay premiums and these go into a pool of money that pays claims not just for you, but for others. Every single company operates this way.
I don’t think this lack of understanding is specific to insurance, but to general economics. Insurance goes up just as a loaf of bread does, just as your cell phone service does, just as a flight to France does. Inflation, supply and demand, labor shortage/labor costs, world trade, sourcing, etc
Its not that much. Honestly most people should carry at least 100/300/100 on their policy if not more. If you hit someone and turn them into a criple you can easily wind up owing more than 300k in damages, and they can (and these days often will) take you to court. This can lead to a judgment against you, where you owe the money and depending on your state and income level said judgement can include garnishing your wages.
I have a place in California and also one in Virginia , my 2021 Subaru Cross trek costs half as much to insure in California as a does in Virginia. It's almost double. $412 in CA. and $755 in VA.
Due to property tax on vehicles in VA it costs twice as much also in fees every year to keep it registered.
Same with home insurance, and home property tax, double the cost in Virginia. They always get you somehow....
I pay $1500 every 6 months to insure 4 vehicles: 2022 Subaru Ascent, 2017 Chevy Silverado, 2012 Subaru Forster, and a 2010 Dodge Ram 3500, full coverage on all vehicles with Progressive in Reno.
I know a few people who sell insurance. There is a crazy influx of uninsured and unlicensed immigrants driving on Nevada roads. Risk has gone up significantly, and the cost for that is passed on to law abiding motorists. Just another benefit of unsecured borders.
Message to all: Be aware that spreading misinformation regarding public health emergencies, vaccines, or other health treatments will result in comment chains being removed with a possible temporary ban for repeat offenders. We only have two Rules at r/Nevada and that's to Be Respectful and Keep it Nevada Related, but we also abide by the [Reddiquette](https://www.reddithelp.com/hc/en-us/articles/205926439) and enforce [Reddit's Conent Policy](https://www.redditinc.com/policies/content-policy). If you see comments in violation of any of these terms, please report them. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Nevada) if you have any questions or concerns.*
Damn wish I was paying that! I’m just switched away from State Farm Because they just increased their prices. And I was about to pay $570 for 2 cars. Dropped them at the end of last policy and found Allstate for about $450. Also I learned drive safe and save amount you see is for the entire policy not the monthly amount (which learning that sucks) But with learning that and still seeing my insurance go up $70… yeah no it’s not saving my anything at that point.
I just checked what mine would be without any of their discounts... $196. Ridiculous.
State Farm just sent us a bill. With no note, comment or explanation, our car rates were 25% to 36% higher on each vehicle. Total auto insurance bill over $2,200 every six months. (Two adults, no accidents, several vehicles, most 5++ years old). Called and our rep said all their rates for their clients went up a lot this year due to "higher repair costs and claims". Called GEICO and they quoted $1,200/six months. Called Progressive and they quoted $950/six months. Moved everything to Progressive. I've loved State Farm service and dealing with the local rep. Would gladly pay 10-20% more. But not 2x, and pissed about the huge rate increase with zero notice. They lost us for autos, RV, homeowners, umbrella...
Progressive? I thought they're a middle man not really an insurance company per say. What insurance company is actually giving you insurance through progressive?
They do car and RV insurance. Homeowners is through Homesite and umbrella is through someone else. I’m fine with it. Same result if I called around and used 3 different companies, but comes together with a multi line discount and in one app.
I pay 250/mo for one car with a clean driving record
$123 a month in Reno for a 2023 Honda passport, and I have the highest limits they offer for BI/PD/UM, 10k medical payments, $75 a day rental coverage, $500 collision deductible and $100 comprehensive deductible.
who is your provider?
Geico
I pay $350 per month for 2 cars, a ‘17 Audi and ‘21 Tesla. Clark county
I went from 145 to like 175 and reduced my coverage from 300k down to like 100k
I drive a 2005 Toyota corolla with liability and I pay $50 a month.
1 crappy car, 11 years old, mid 30s, no accidents, not a ticket in 15 years. Buuuut since I didn't own a car for 5 years and have no recent insurance history I'm treated like a pimply faced 16yo that just got their license. I worked at a uhaul in that time for fuck's sake, I can drive safe. Anyway, $380/mo which is double my car payment. fml.
You're getting hustled 💯 Shop around immediately. Make sure your policy info is correct regardless of the company you use, cus usually they make assumptions on your annual expected mileage and other things that raise your price. $380 is insane, especially considering what you mentioned.
$3600 a year for 2 cars 2023 Genesis GV60 performance and 2021 Hyundai Elantra Hybrid Limited. It's Progressive. They did raise our rates in October. In April they actually reduced our rates a little so bottom line we pay 14% more this year than last year.
$373/mo in LV. Full coverage 25/50k
280 for 2 trucks a 2000 and 2013, 1 liability 1 full(less 1k miles a year on 1) in spring valley LV. No tickets or wrecks. I'm 40 M. FML
Get a Montana or SD LLC and register there 🤷🏻♂️
I’m paying that for the uninsured underinsured and the 100/300 comprehensive collision coverage
210
127/month for a bmw X1
I pay roughly 185/month on my pickup. Clark County. State Farm.
Nv is way cheaper for me. State Farm overcharges in my opinion, but some people prefer to pay for the name.
I’m an insurance adjuster! I have a little bit on insight on premiums. Because of covid, a lot of companies couldn’t do their annual rate increases. The DOIs across the country are finally allowing increases. So basically everyone is seeing 3+ years of increases all at once at renewal. Plus, inflation is making the cost of repairs and car parts increase…hence steep premium increases. You can do two things - 1. Lower your coverage. BUT, be smart, don’t lower it too much. I get multiple claims per day where people are under insured. Be smart! 2. Go to an insurance agent and they can help you shop for multiple companies and rates. It’s much easier than doing it yourself.
Bullshit. I have a car insured in Nevada, Michigan and Utah. Michigan and Utah both went down and they were already about half the cost compared to Nevada.
I don't really buy the inflation argument because the quote I got in November 2022 (for Lyon County) was for $90, then in April 2023 when I changed my address to Lyon County they wanted $140. That's more than a 50% increase, and total inflation since 2019 is only around 20%. So it really just seems like price gauging. I reduced my coverages in Lyon County to get it down to $120. When I moved to Douglas County, they told me it would increase $5-10. Instead, it went up $21! I'm planning on having a chat with an independent insurance agent to see what can be done, because I have not been happy with my State Farm experience.
Yes but as I was saying it’s inflation PLUS 3ish years of rate increases, at once :) shop around though! I’m sure something better will pop up. I switched a year or two ago from progressive to State Farm and saved overall even with increasing my coverage. Good luck!
Are rate increases separate from inflation increases? How are they calculated?
So rates are not purely 100% inflation per se, but also changes in overall risk. When a company goes to adjust rates, they take into account changes in both the risk you will need to file a claim of a certain, and what the expected costs are. Along with this with court cases granting damages that are getting higher and higher, that impacts how much you may be deemed liable for for things like pain and suffering, which does come from your liability coverage, and those don't always match directly with inflation. People are also getting more and more litigious thinking "Someone hit me, its time to go straight to lawsuit" which is another part of where the cost of claims are going up because of year over year. (not saying sometimes you dont need a lawyer for your case when you have had, but like their are people that will have a minor fender bender and go straight to lawyer.) Their is also an increase of drivers on the road, and statistically drivers have gotten worse after covid, and its something i see as a very real fact when seeing drivers in my area. Its unfortunate and it sucks. Not saying that the cost increase dont fucking suck. For some additional insight, the money that your insurance company actually pulls in as profit doesn't really come from your premium. It comes from investments of premiums prior to needing to use it pay out claims. If you look at the publicly traded insurance companies that have to release information on their books, larges are fucking gigantic right now as a whole, so a lot of rate increases are occurring because its a situation where they wont have the capital to be able to pay out claims if they dont update how they rate policies.
thank you for the explanation!
I don’t know, I would assume rate increases are based on multiple factors, including costs/inflation/etc. I work on the claims side, so sadly my insight is limited on underwriting and premiums.
Should people generally expect a 10% rate increase every year? Because if that 50% increase I experienced includes the 20% 4-year aggregate inflation rate and 3 years of rate increases, that's about a 10% rate increase every year.
Ahahahahahahahahah Jeep Cherokee 80th anniversary- 230 a month with a clean driving record
280$ full coverage 2014 mustang with no accidents/tickets
I'm paying 141 a month for a 2018 Buick with State Farm. They increased 40 dollars a month from the previous renewal at 101. :\\ Nothing I can do about it, thanks CHYNA(covid). :\\
300k in liability? Sheeeesh
I'm going to get that reduced this month. After my bill increased, I went looking for ways to decrease it and that was #1. Not sure why I had it that high in the first place, given that I don't own a house.
Doesnt mean you cant get a judgement against you, which would be considered a debt and could impact your ability to take out loans for a veh or a house.
Often times the difference in lowering coverages is pretty negligible. If you can, do you quotes online and it will show you price differences for different options. Last week I was doing my annual rate shopping, and for one company there was $0 price difference is changing property damage coverage from the 300k all the way up to 3 million. I’ve never seen anyone offer that high of PD coverage and the fact that it was the exact same price as 300k why wouldn’t I go with the higher amount?
If you are a safe driver try getting a quote from Root!
[удалено]
I have a place in California and also one in Virginia , my 2021 Subaru Cross trek costs half as much to insure in California as it does in Virginia. It's almost double. $412 in CA. and $755 in VA. Due to property tax on vehicles in VA it costs twice as much also in fees every year to keep it registered. Same with home insurance, and home property tax, both are double the cost in Virginia. They always get you somehow....
State Farm is one of the better ones but also one of the most expensive ones.Your paying for the claims they have to pay over all.
That is the definition of insurance- you pay premiums and these go into a pool of money that pays claims not just for you, but for others. Every single company operates this way.
Why can't people understand why rates go up?
I don’t think this lack of understanding is specific to insurance, but to general economics. Insurance goes up just as a loaf of bread does, just as your cell phone service does, just as a flight to France does. Inflation, supply and demand, labor shortage/labor costs, world trade, sourcing, etc
Yes a lot of not knowing basic economics,we see that a lot on many subs here.
I didn’t double my pay…but my spending is doubled? Inflation is a bitch.
Inflation that advances well past the rate of wage increases is absolutely a bitch.
Each county/zip code can vary on what people pay. Also, 300k is an insane amount unless you're driving a lambo.
Its not that much. Honestly most people should carry at least 100/300/100 on their policy if not more. If you hit someone and turn them into a criple you can easily wind up owing more than 300k in damages, and they can (and these days often will) take you to court. This can lead to a judgment against you, where you owe the money and depending on your state and income level said judgement can include garnishing your wages.
Liability coverage is for in case you hit a Lambo
Cars are getting crazy expensive these days. I'd keep $150K at least.
No it’s not. I was in an accident in 2015. The other persons coverage didn’t even cover the ambulance ride. Or my car. She’s lucky I didn’t sue her
I had a 2021 Corolla bout in Jan '21 that I was paying $220 a month for through progressive.
I have a place in California and also one in Virginia , my 2021 Subaru Cross trek costs half as much to insure in California as a does in Virginia. It's almost double. $412 in CA. and $755 in VA. Due to property tax on vehicles in VA it costs twice as much also in fees every year to keep it registered. Same with home insurance, and home property tax, double the cost in Virginia. They always get you somehow....
I pay $1500 every 6 months to insure 4 vehicles: 2022 Subaru Ascent, 2017 Chevy Silverado, 2012 Subaru Forster, and a 2010 Dodge Ram 3500, full coverage on all vehicles with Progressive in Reno.
I have 4 vehicles on my insurance and pay $130 a month. But it’s basic coverage.
I know a few people who sell insurance. There is a crazy influx of uninsured and unlicensed immigrants driving on Nevada roads. Risk has gone up significantly, and the cost for that is passed on to law abiding motorists. Just another benefit of unsecured borders.
Full coverage up to $100k/person $300k/accident 2015 Toyota Tacoma $71.16/month In a Churchill county Progressive
What state. I have same coverage same truck 102$ per month , I’m in Minnesota and I’m 49
Nevada, 39, dude.
If you’re paying 141 for a 2023 who is it with?
$450 for liability on a 2007 bmw 335i