Has your vehicle insurance went up this year?

[JustDave]

Insurers are the last corporations I would want to defend, but the value of cars has gone up during the pandemic. I understand this is true for used cars as well as new. And the new car I bought a year ago was almost twice the price of my last new car from three years before. Granted it was a better car, but never the less the price of cars these days is at a level I never imagined seeing in my life time.

So when they get smashed, they are going to cost more to replace or repair Yes, insurance is probably still overpriced, but it is what it is, and the companies are not regulated. And the body shops want to make more money too.

 

[Teacher Terry]

My car insurance went up 30% in 6 months with GEICO. They said because of the increase in parts and labor. I shopped around and couldn’t do better so I increased the deductible to lower the price. My car is 15 years old with low mileage and its BB value is still 5k so not dropping collision.

 

[seadoug]

Yes. It went down during COVID because people weren't driving as much. It has gone up this year. We did lease a new car a few months ago, but even in the last month it has gone up $20 per month.

 

[seadoug]

I have everything covered under State Farm ... two vehicles and home.
Been with State Farm for 17yrs now and filed zero claims in that time.
The home coverage seems more volatile than the vehicle coverage but total isn't bad ... yet.
I'm satisfied with State Farm for now and IF I ever do need to file a claim, the agent is local.

Same here. I've been with State Farm since the 80's. I have the multi-car and homeowners discount. I've been in two accidents during the past 6 years that were not my fault and they were very responsive in reimbursing the body shop of my choice and providing a rental car.

However, I did a homeowners insurance assessment with my agent a couple of years ago and they updated my policy. Shortly after, we had a hailstorm and I had a roofer come out to assess possible damage. He said there was a little damage but we were okay for the time being. Due to the deductible in our homeowners policy it would have cost $11,000 to replace the roof. I chose not to replace the roof.

Just be sure you are fully insured for whatever may occur these days, especially with the extreme weather throughout the country.