Car Insurance up 200%

Car Insurance up 200%
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[qbanb]

Home and Auto insurance has been what has increased the most for me the past two years.

[griffinl]

There needs to be EV only insurance companies and gas car insurance only to fix this

[jujubeans]

EVs make everything more expensive ... the only green is coming out of our pockets !!!

[gloofisearch]

Well, we are just being ripped off in USA. My brother in Germany pays $600 a year for full coverage on a new BMW X3. Needless to say that a full coverage in Germany is 10 times better than a full coverage in the US. No limits like $20k or so. No, his insurance pays up to $20, 000, 000. And yes, there are electric cars there too. When you look how much profit GEICO made last year, you know why they do it and we just keep playing along.

[drgbg]

Central Florida:
- Clean driving record (no tickets/claims/accidents)
- 50k/100k full coverage on 2 cars
- 2015 Hyundai Genesis
- 2023 Hyundai Elantra
- $1896/6 months

- Same policy, same cars, same conditions in 2023: $996 / 6 months.
- Homeowners was at $1800/year - but received a non-renewal - won't know how much it will cost until September.

[larrybenton]

Glad to hear someone speaking the truth that EVs are driving up the insurance costs on everyone, no matter what you drive.

[PassportBrosBusinessClass]

Car Insurance is the ultimate deal killer. There are so many cars I'd have bought but the insurance is so high it's like another car note.

[stepheno.]

The insurance industry is out of control.

[terrystewart]

Very timely topic Lucky. I'm in California, so strike one. I need homeowner's insurance, strike two. I need auto insurance, strike three. My carrier for auto and home has been Mercury for the last 2 or three years. (I use a broker so they shop all their companies.) Mercury has denied renewal of my homeowners. It was $1800 last policy year. So far the only quote on that is $5400, and unsure if the carrier will actually write the policy. My auto policy (2005 Ram diesel, 2013 Chrysler 300) is coming up for renewal next month and Mercury now wants $3600 a year for the policy. Not that long ago, it was $1500 a year. For old, relatively cheap to fix stuff. It's nuts. If I can't find a better deal, I may just go to liability only on the auto policy. I am selling one of my rental properties (where I was forced to into the state run plan, raising my cost of the fire policy from $1200 a year to $4000 for worse coverage), to use the $$$ and pay off my home loan, and then self insure. I will fire harden my home, and hope for the best. Just can't do their prices anymore.

[MTbone]

Another reason why EV’s not saving the world

[frankvanfossan]

Live in Southern IL and have a 2019 Raptor bought new...insurance 3 years ago 349.00 every six months...now same truck 600.00 every six months...no tickets accidents...good credit score...bundled with second car and homeowners. I have had "Like a Good Neighbor" for 40 years.

[elcheapo]

Even more people will just not have insurance, since if you're judgment proof there's essentially no penalty anyway.

[johnmoore]

So, they screw all of us instead of a select few. We are essentially subsidizing EV owners' car insurance instead of them having even higher premiums.

[jodrhh]

“You will own nothing and you will be happy”

[hotdoggin]

I'm fairly certain I saw something about there being a lot of mechanics/body shops being afraid to work on EV's either because they're not certified (IE: Tesla...which also happens to be most high sold EV brand in the country) or because of how dangerous those batteries are.

[Guido_Sarducci]

Another good vid, thanks Lucky! We are in SE, PA. Cars are 2015 Jeep Hemi, 2015 Chev Sonic RS, and 2013 Mercedes E350 Coupe; low milage, garaged, and in VG condition. Plymouth Rock doubled our rate to $29xx in June due to the "inflation", and absolutely no other reason. Allstate took our account for $19xx. We have good coverage, especially the Liability portion. State congress's need to put control limits on these insane increases.

[bestprice]

Jaguar F-type R convertible $4200+ for 6 months through progressive. No points and with multiple year customer discount. Rip-off

[sitiwrattz]

I pay $72 a month for full coverage on my 2023 Subaru Forester, and I live in Irvine, Ca. It's one data point but having a modest car, with a good driving record can go a long way. I also get my insurance through Costco.

[stephenshuman]

I drive a 2020 Honda fit. When I bought it brand new in Colorado I was paying $100 a month for insurance. I moved to California now my insurance has more than doubled. Paying around $250 per month.

[jbcope]

I thought i was ok in California. Insurance company says they are not renewing, but if i want to stay with them I can get a new policy for 400% more, fml