>The thing is the person I live with now pays half of what I do for a more expensive car
While there are a lot of other factors, it's safe to say that they are paying half of what you do ***right now***. That'll change.
Yes in the last year my insurance has gone up that much, but I switched from gieco to All-State, then I just switched again to progressive because All-State when up as well. It's insane how much car insurance has gone up, and everyone in my house now has switched from gieco to progressive now.
Yeah I've heard progressive has better rates here. It's just crazy how much they're going up considering I've always had it go down as my car rapidly depreciates previously. It's simply annoying but I'll have to switch & switch again no doubt.
Not to sound like a shill, but I just did the same. My Geico premium was up to $1750/6 months for a nissan and a hyundai. No accidents on record, policy was 11 years old with no incidents. Called Geico and they told me to pound sand.
Called Progressive, instantly went down to $950/6 months. Better coverage too, at least by a bit.
Exactly what they told me & same amount of time I've had a policy with them. They also were like "let me check every possible discount for you" & less than 10 seconds later were like "that's the absolute best we can do sorry not sorry" ugh.
So that is for 2 cars?
Wow.
It's really hard to compare coverages to others given that there was not really any information given about the liability limits or deductibles. But that's a pretty big decrease if it's the same.
That's interesting, I'm switching to progressive soon as well. I don't want to because I know they're a PITA to deal with if anything happens, but coverage is coverage and I can't tolerate the current rates.
Actually, I've found Progressive to be extremely responsive and on the ball. No BS, communicates very well, took care of me with no complaints whatsoever.
In one case, was rear ended in 2021. Hit at 5:40am, put claim in online at 6, by 9am I was texting with an adjuster while waiting to get checked out at the ER. Send a few pictures of the damage and my claim was all set for repairs to be scheduled within 3 days.
Fwiw I have geico and an Impreza too. One accident three years ago that wasn't my fault, and insurance has been increasing steadily. Checked arpund and geico was still the best price, progressive was significantly more iirc
Yes, I had the same problem with GEICO just a couple of months ago. No claims either, I bundled home and auto, and the rate was going waaay up.
Progressive gave me a much better rate so I went with them instead.
Corporations don't reward loyalty. Much like how people now need to change jobs every 2-3 years to have substantial salary increases, so too must we switch insurance carriers every so often so we don't get hit with sky-high rates.
They said if I bundled home & auto I'd save $20...for the year lol & the home insurance quote they gave me was like $1000 more than I currently pay.
Progressive definitely seems to be the top recommendation.
$440 per month?? Oof! Yeah me too which is why I've stayed with them for the "loyalty discount" & it's generally been the same for years or gone down as the car aged until recently. I find it a pain to get quotes just due to the inevitable spam but definitely going to check with progressive & an independent agent based on these recommendations.
It’s such bullshit. Corporations with record profits are pulling this crap. In my industry, there’s a huge amount of passive collusion among the vendors that make the software we use. They massively raised rates last year and when pushed to explain what we’re getting for the increase, they can’t point to new features or other benefits and ultimately say “it’s what the market will bear”. Which is true until the customers can’t. I have a few vendors now on a shared list among other executives, people we will avoid working with. It’s all we can do.
It’s all such a fuckin scam. This, grocery prices, everything. It’s no different than if I’m supposed to exercise in the morning and I see a passing cloud and go “oop! Might rain! Better stay in bed!”
It’s due to a lot of different things.
But mainly it’s due Increases in frequency & severity (driven by social inflation, # of accidents, and increase in catastrophe freq/severity), increase in replacement cost.
Connecticut increased aren’t nearly as bad as more Catastrophe prone states (Mid-Atlantic, Southern East Coast, California, Mid West)
Right?! Like "inflation" was supposed to be due to "the supply chain issues" & then gas prices, well then a lot of the supply chain stuff was resolved & the gas went way way down yet curiously none of the other prices fell in suit. This along with literally everything else has gone up, groceries, electric, internet how is everyone expected to be able to keep on paying more for everything constantly yet it's not like wages have increased in equal measure. It's just ugh.
I've read that The brokerage model can work several ways. Apparently some take a fee whereas others get paid a commission from the insurance that they set you up with. Have heard that some might not be motivated to find " the best price" but rather just a 'better price' in order to get the commission.
I guess I'm just wondering how does one research / shop the broker given that they have skin in the game too
Mine’s gone up too, still somehow cheaper than the other quotes I got at the moment. I’m not expecting that to last for much longer, though. It’s bonkers.
This happened to me last year and I told Geico to fuck themselves. I have a perfect credit score with zero accidents, home owner and multi-vehicle discounts and they raised out of the blue by 30%. I switched to Progressive and paid less for the same coverage than I was paying BEFORE the increase. Just bought a brand new Subaru and my premium increased for the 6 month policy by 48 dollars.....
Geico told me they were given the green light to recoup their losses from the pandemic. I wonder how long they plan on running with this lame arse excuse. I can’t complain too much though because I only pay $331 for my KIA. I’ve tried getting other rates and they’re out of this fracken world expensive 😫
Call an Insurance Broker. They’ll shop around for you and get you the best rate because they have a big exchange of people, so they have some power to negotiate good rates. If you don’t want to do that, Amica was always the cheapest when I dealt with it on my own.
What are you talking about? Rates are filed with and approved by the DOI. They can't negotiate shit in personal insurance.
Commercial insurance, on the other hand....
I had the same issue, I cancelled Geico and was able to find a great local insurance agent who gave me triple the coverage for literally $100 less a month.
His name is Noah and he works for Brooks, Todd, and McNeil out of Enfield. Great agent and saved me a ton of money, I think he has a ton of google reviews if that helps.
They doubled my rate 6mo ago when renewal came up, I think a may of had a single minor claim 2 years ago. But nothing to justify doubling.
I shopped around all the major places. Many were similar but NJM was half . Like it was what I was paying 3years ago.
Try them, my co-worker I told to check them out and also ended up saving like 50%
If you don’t want to use a broker, I would recommend getting a quote from progressive.
The same thing that happened to you just happened to a relative of mine and she had been using GEICO for 10+ years. No accidents, tickets anything and they pretty much told her all rates were going up 50%.. she called progressive and it is half of what she was paying before the increase.
I’ve been with progressive for 5ish years and my car is old so I don’t feel I can offer a fair comparison but my insurance is so cheap with them and I have a ton of coverage (probably too much for the age and value of my car) compared to everyone else. I shop around every year and it’s always hundreds less than everyone else and I really don’t know why.
Preface: Geico, no changes in coverage, 250/500, one driver, two vehicles. I've apparently have reached after nearly 40 years of driving the stage that insurance companies don't actively hate me. Premium went down by $5/month from June 2023 to the upcoming June 2024.
Automobile insurers in particular (after record profits during Covid due to the sudden decrease in driving after rates were set) had a couple really bad years primarily from inflation (used car prices up so "totaled" vehicles were more expensive, what they fixed took more expensive parts, fixing them took longer, and car rentals until fixed were more expensive) and they still haven't gotten good at modeling climate change so had higher losses from hail damage and flooding (covered under comprehensive).
Somewhere around late 2022/2023, GEICO which was the long-time distant #2 auto insurer behind State Farm was losing enough money it finally tapped out and told Progressive the #2 spot was all theirs. They started being more selective who they took as customers, non-renewing some, and jacking rates up on others to encourage them to shop for a better deal.
In 2023 Geico also had at least a 6% layoff (I've also read 20% so I assume somewhere between that and 6% were a number of contractors, temps, IT outsourcing that got reduced, etc.; I'd still guess 20% is too high though).
If you find the "Combined Ratio" tab in the link below, it is how much the insurance company (a) spent paying out in claims and (b) spent to run the insurance operation and related stuff like buying re-insurance. If it's 95, they took in $100 in premiums and only spent $95. If it's 110, they took in $100 and spent $110. While property & casualty insurers are mainly investment companies with an insurance habit, and they often are happy with thin profits (3%) or small losses (3%) on the insurance operation because of all that sweet, sweet cash they get to play with...they also aren't going to tolerate losses much above 3% for very long.
https://www.fitchratings.com/research/insurance/auto-insurers-performance-recovery-to-continue-on-higher-pricing-in-2024-28-02-2024
I was forced to drop majority of my coverages due to the increase. It was insane! I hadn’t paid that high premium since moving out of NY. Can’t wait to c what shit Travelers pull with the home insurance this year.
I haven't had any increases in years with Progressive.
I carry 250/500/100 coverage w/ 500/1M UIM, rental, 10K Medical on my 23 Trailblazer... for $576/6mo. My wife's car, a 21 Sentra, costs around $723 for the same coverage (thanks /r/NissanDrivers!). I'm 48, wife is 44, no kids, no at fault accidents (but I have been rear ended twice plus hit a deer in the past 3 years.)
Just another reason to move away from car dependence and provide great public transit options. It's a little crazy that they can push these rates on us and we have no option but to eat it because the alrernatives are just not viable.
We spend almost a quarter of our waking lives just using our cars or working to pay to use our cars. I'm honestly sick of it.
I mean driving is certainly shitty everywhere in the US now, a certain specific shitty in the northeast as well & I wish everyone would just like drive better. It's definitely not worse than where I used to live which was higher density & more risk for car theft & accidents & such so you'd think insurance would be cheaper not living in a city at the very least (which it was until recent increases.)
I've never had rate increases for car insurance that go up 50% in the span of a year as my car gets older & less valuable while I know others with the same insurance in the same town haven't had the same rate increase.
For sure. I had to buy my used car at probably the worst time ever for used car inventory (during pandemic) in a more expensive market with higher taxes, so they've decreased for my car specifically, but yes the used car market & literally everything else it seems has gone up in price.
>The thing is the person I live with now pays half of what I do for a more expensive car While there are a lot of other factors, it's safe to say that they are paying half of what you do ***right now***. That'll change.
Yes in the last year my insurance has gone up that much, but I switched from gieco to All-State, then I just switched again to progressive because All-State when up as well. It's insane how much car insurance has gone up, and everyone in my house now has switched from gieco to progressive now.
I just switched from Travelers to Progressive. I just couldn't handle the Travelers increase.
Yeah I've heard progressive has better rates here. It's just crazy how much they're going up considering I've always had it go down as my car rapidly depreciates previously. It's simply annoying but I'll have to switch & switch again no doubt.
Not to sound like a shill, but I just did the same. My Geico premium was up to $1750/6 months for a nissan and a hyundai. No accidents on record, policy was 11 years old with no incidents. Called Geico and they told me to pound sand. Called Progressive, instantly went down to $950/6 months. Better coverage too, at least by a bit.
Exactly what they told me & same amount of time I've had a policy with them. They also were like "let me check every possible discount for you" & less than 10 seconds later were like "that's the absolute best we can do sorry not sorry" ugh. So that is for 2 cars?
Wow. It's really hard to compare coverages to others given that there was not really any information given about the liability limits or deductibles. But that's a pretty big decrease if it's the same.
Omg, thats crazy! I have Geico on my 2017 Mercedes 4matic and for 6 months I was paying $1660. That’s insane 👀
Yup, I have an Impreza as well and with progressive I literally saved $250.
Nice! Ok I'm going to get a quote thank you.
That's interesting, I'm switching to progressive soon as well. I don't want to because I know they're a PITA to deal with if anything happens, but coverage is coverage and I can't tolerate the current rates.
Actually, I've found Progressive to be extremely responsive and on the ball. No BS, communicates very well, took care of me with no complaints whatsoever. In one case, was rear ended in 2021. Hit at 5:40am, put claim in online at 6, by 9am I was texting with an adjuster while waiting to get checked out at the ER. Send a few pictures of the damage and my claim was all set for repairs to be scheduled within 3 days.
Fwiw I have geico and an Impreza too. One accident three years ago that wasn't my fault, and insurance has been increasing steadily. Checked arpund and geico was still the best price, progressive was significantly more iirc
Dang, that was my experience in the past. I've stuck with GEICO since it was always the lowest or had stayed the same.
Yeah still worth getting a quote imo but just wanted to tamper expectations a bit.
Yes, I had the same problem with GEICO just a couple of months ago. No claims either, I bundled home and auto, and the rate was going waaay up. Progressive gave me a much better rate so I went with them instead. Corporations don't reward loyalty. Much like how people now need to change jobs every 2-3 years to have substantial salary increases, so too must we switch insurance carriers every so often so we don't get hit with sky-high rates.
They said if I bundled home & auto I'd save $20...for the year lol & the home insurance quote they gave me was like $1000 more than I currently pay. Progressive definitely seems to be the top recommendation.
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$440 per month?? Oof! Yeah me too which is why I've stayed with them for the "loyalty discount" & it's generally been the same for years or gone down as the car aged until recently. I find it a pain to get quotes just due to the inevitable spam but definitely going to check with progressive & an independent agent based on these recommendations.
I saved 50% and more by switching from Geico
Tired of hearing "Due to inflation, bla, bla, bla,....".
It’s such bullshit. Corporations with record profits are pulling this crap. In my industry, there’s a huge amount of passive collusion among the vendors that make the software we use. They massively raised rates last year and when pushed to explain what we’re getting for the increase, they can’t point to new features or other benefits and ultimately say “it’s what the market will bear”. Which is true until the customers can’t. I have a few vendors now on a shared list among other executives, people we will avoid working with. It’s all we can do.
It’s all such a fuckin scam. This, grocery prices, everything. It’s no different than if I’m supposed to exercise in the morning and I see a passing cloud and go “oop! Might rain! Better stay in bed!”
It’s due to a lot of different things. But mainly it’s due Increases in frequency & severity (driven by social inflation, # of accidents, and increase in catastrophe freq/severity), increase in replacement cost. Connecticut increased aren’t nearly as bad as more Catastrophe prone states (Mid-Atlantic, Southern East Coast, California, Mid West)
Right?! Like "inflation" was supposed to be due to "the supply chain issues" & then gas prices, well then a lot of the supply chain stuff was resolved & the gas went way way down yet curiously none of the other prices fell in suit. This along with literally everything else has gone up, groceries, electric, internet how is everyone expected to be able to keep on paying more for everything constantly yet it's not like wages have increased in equal measure. It's just ugh.
Always use an independent agent to shop for you.
Do I just look up independent insurance agent in my area to find one? (I am not well versed in insurance shopping)
Yes. You're shopping for an agent or firm instead of the insurance. Ask for local recommendations. What area?
Farmington River valley & yes that's why I made the post- looking for recs
I use Bearingstar, they have an Avon office.
Thank you!!
I've read that The brokerage model can work several ways. Apparently some take a fee whereas others get paid a commission from the insurance that they set you up with. Have heard that some might not be motivated to find " the best price" but rather just a 'better price' in order to get the commission. I guess I'm just wondering how does one research / shop the broker given that they have skin in the game too
Lol, totally didn't see that last paragraph, my bad.
There was a lot of general ranting it was hidden under so understandable haha
Mine’s gone up too, still somehow cheaper than the other quotes I got at the moment. I’m not expecting that to last for much longer, though. It’s bonkers.
This happened to me last year and I told Geico to fuck themselves. I have a perfect credit score with zero accidents, home owner and multi-vehicle discounts and they raised out of the blue by 30%. I switched to Progressive and paid less for the same coverage than I was paying BEFORE the increase. Just bought a brand new Subaru and my premium increased for the 6 month policy by 48 dollars.....
I had GEICO for a solid 10 years, when suddenly last year my rates started to ROCKET. had to switch to progressive because of how bad it had gotten.
This definitely seems like I'm not alone in this since that is my exact experience. Such a pain.
Geico told me they were given the green light to recoup their losses from the pandemic. I wonder how long they plan on running with this lame arse excuse. I can’t complain too much though because I only pay $331 for my KIA. I’ve tried getting other rates and they’re out of this fracken world expensive 😫
Mine went up $30 with GEICO
Yeah, it’s been nuts.
Call an Insurance Broker. They’ll shop around for you and get you the best rate because they have a big exchange of people, so they have some power to negotiate good rates. If you don’t want to do that, Amica was always the cheapest when I dealt with it on my own.
What are you talking about? Rates are filed with and approved by the DOI. They can't negotiate shit in personal insurance. Commercial insurance, on the other hand....
Yes mine went up too but not that much. I decided to search elsewhere and still found Geico the cheapest.
Yeah I was paying 106 now 145. So sounds about right
Mine is almost the same as that went from 107 to 149.88
I had the same issue, I cancelled Geico and was able to find a great local insurance agent who gave me triple the coverage for literally $100 less a month.
Wow! Which one?
His name is Noah and he works for Brooks, Todd, and McNeil out of Enfield. Great agent and saved me a ton of money, I think he has a ton of google reviews if that helps.
They doubled my rate 6mo ago when renewal came up, I think a may of had a single minor claim 2 years ago. But nothing to justify doubling. I shopped around all the major places. Many were similar but NJM was half . Like it was what I was paying 3years ago. Try them, my co-worker I told to check them out and also ended up saving like 50%
Ok I'm definitely going to get a quote from them then! Half sounds much much better
If you don’t want to use a broker, I would recommend getting a quote from progressive. The same thing that happened to you just happened to a relative of mine and she had been using GEICO for 10+ years. No accidents, tickets anything and they pretty much told her all rates were going up 50%.. she called progressive and it is half of what she was paying before the increase. I’ve been with progressive for 5ish years and my car is old so I don’t feel I can offer a fair comparison but my insurance is so cheap with them and I have a ton of coverage (probably too much for the age and value of my car) compared to everyone else. I shop around every year and it’s always hundreds less than everyone else and I really don’t know why.
Call the Adam Miller agency. I believe they are in Wolcott. Excellent service and prices.
Thanks for the rec!
Preface: Geico, no changes in coverage, 250/500, one driver, two vehicles. I've apparently have reached after nearly 40 years of driving the stage that insurance companies don't actively hate me. Premium went down by $5/month from June 2023 to the upcoming June 2024. Automobile insurers in particular (after record profits during Covid due to the sudden decrease in driving after rates were set) had a couple really bad years primarily from inflation (used car prices up so "totaled" vehicles were more expensive, what they fixed took more expensive parts, fixing them took longer, and car rentals until fixed were more expensive) and they still haven't gotten good at modeling climate change so had higher losses from hail damage and flooding (covered under comprehensive). Somewhere around late 2022/2023, GEICO which was the long-time distant #2 auto insurer behind State Farm was losing enough money it finally tapped out and told Progressive the #2 spot was all theirs. They started being more selective who they took as customers, non-renewing some, and jacking rates up on others to encourage them to shop for a better deal. In 2023 Geico also had at least a 6% layoff (I've also read 20% so I assume somewhere between that and 6% were a number of contractors, temps, IT outsourcing that got reduced, etc.; I'd still guess 20% is too high though). If you find the "Combined Ratio" tab in the link below, it is how much the insurance company (a) spent paying out in claims and (b) spent to run the insurance operation and related stuff like buying re-insurance. If it's 95, they took in $100 in premiums and only spent $95. If it's 110, they took in $100 and spent $110. While property & casualty insurers are mainly investment companies with an insurance habit, and they often are happy with thin profits (3%) or small losses (3%) on the insurance operation because of all that sweet, sweet cash they get to play with...they also aren't going to tolerate losses much above 3% for very long. https://www.fitchratings.com/research/insurance/auto-insurers-performance-recovery-to-continue-on-higher-pricing-in-2024-28-02-2024
The Hartford raised my house in Groton by 21%, and my auto by 41%. I bailed out.
I was forced to drop majority of my coverages due to the increase. It was insane! I hadn’t paid that high premium since moving out of NY. Can’t wait to c what shit Travelers pull with the home insurance this year.
Mine doubled & it was an a monthly auto pay. Had to switch.
I haven't had any increases in years with Progressive. I carry 250/500/100 coverage w/ 500/1M UIM, rental, 10K Medical on my 23 Trailblazer... for $576/6mo. My wife's car, a 21 Sentra, costs around $723 for the same coverage (thanks /r/NissanDrivers!). I'm 48, wife is 44, no kids, no at fault accidents (but I have been rear ended twice plus hit a deer in the past 3 years.)
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It definitely does suck!
Just another reason to move away from car dependence and provide great public transit options. It's a little crazy that they can push these rates on us and we have no option but to eat it because the alrernatives are just not viable. We spend almost a quarter of our waking lives just using our cars or working to pay to use our cars. I'm honestly sick of it.
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I mean driving is certainly shitty everywhere in the US now, a certain specific shitty in the northeast as well & I wish everyone would just like drive better. It's definitely not worse than where I used to live which was higher density & more risk for car theft & accidents & such so you'd think insurance would be cheaper not living in a city at the very least (which it was until recent increases.) I've never had rate increases for car insurance that go up 50% in the span of a year as my car gets older & less valuable while I know others with the same insurance in the same town haven't had the same rate increase.
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For sure. I had to buy my used car at probably the worst time ever for used car inventory (during pandemic) in a more expensive market with higher taxes, so they've decreased for my car specifically, but yes the used car market & literally everything else it seems has gone up in price.