Buckle Up for Impact: Auto Insurance Rates Going Up - What You Need to Know!

[MrSupernova]

In other words, insurance companies pocketed huge savings over the pandemic while people were stuck at home but now that people are back on the road they stiff the customers with steep rate hikes.

[thebigguy]

I'm in Michigan with State Farm and my auto insurance jumped 20% on the last bill. I spoke with an agent that claimed it's because the auto repair industry has been charging so much more to fix vehicles. That's where those of us driving older vehicles get burned by the insurance company using "averages" to determine rates. My older vehicle doesn't have $1000 headlight/tailight assemblies, but the new vehicles do. I end up paying more because the new vehicles are so expensive to fix. What a scam.

[marcburroughs]

I have Progressive and luckily my insurance went down some but here in South Carolina, insurance is higher than most states

[ericl]

I was paying 226 for FC on one vehicle and liability on the other with elephant. They sent me a auto draft notice saying they were gonna take out 381 and I was like WTF!!! Now I gotta spend a whole day shopping around for hopefully cheaper rate. This is insane

[anthonydavis]

Yea my insurance went up another 200 dollars on two vehicles. I have a clean driving record of, no accidents, not even a glass claim.

[Dee--Jay]

If we returning back to driving from pre pandemic, shouldn't the prices be at the same rate as it was pre pandemic. They just price gouging for no reason, because they can. Yea they lost money but im sure they still profitable. Companies focus on in creasing revenue year over year and when they have a yr where they didn't make as much... They never focus on the fact that they still profited 77 billion

[hopsc]

My rates went up with no warning Geico.

[mistahpahkah]

Mine went up 83%. Excellent Driver GEICO

[dennishaas]

I live in rural Illinois and have Pekin insurance. Just got my yearly bill for my 2023 Ford F150 which was $1, 500.00 a year and this year $1, 931.00 !

[pcitkto]

My rates went up 20% with State Farm in one year; no tickets, accidents, claims. I feel like I'm paying for other people's mistakes.

[frederickmatthews]

Received my renewal today - up 32%. I’m selling one car to reduce the expense.

[yellowdeer]

AAA up also, so much for the raise on my social security. I think it's all an excuse because everyone is increasing prices.

[Mr.Ratchet]

In the last 18 months rate has gone from 175 to 355 currently. No accidents, tickets or DUI's. You shop around for a better rate to only find rates are higher elsewhere. I have my deductible set to the maximum amount and it's still high AF. Something has to be done.

[mattmcrae]

I just wanted to make sure I'm not being singled out. Don't feel so bad now if it's just the new normal. Still sucks though.

[briancarskadon]

Great timing on this video. I actually noticed my rates increased this morning.

[AmericanKendoll]

I’m in Tampa Florida and My insurance went up 600 dollars ! No claims ! No anything ! I drive a 2020 Kia forte 😢! I can’t afford it anymore I don’t know what to do at this point! I’m going to have to give my car up

[nastee]

When you have a product that is a necessity by law, you can charge pretty much whatever you want. These companies raise their rates arbitrarily because they can. They count on two things: 1. That you will have brand loyalty to them and 2. If you do go to another company for a lower rate, that company will then raise its rates after 6 to 12 months, and you'll come crawling back.

[NYslice]

Selling my 2008 car. I pay almost what the car is worth in insurance premiums. Each year. Auto crisis around the corner

[geert]

you'll love cycling America! Well not so much in hilly or cold conditions

[SZc]

i used to pay $300 for 6 month but this year renewal fee $500