I see a lot of posts on this forum about people leaving their insurance company and rate increases. For those who have been with them for a while, how long did it take before they started raising your auto insurance rates? We’ve had them for 2 years, and so far, our rates have actually gone down a little, like $15-$20 each renewal.
I’m not complaining, but I’m wondering if we’re due for a big jump soon. What’s everyone else’s experience?
Insurance is about spreading out the risk. They collect premiums from a lot of people knowing only a few will need payouts. If repair costs, medical expenses, or accident rates go up for some, everyone’s premiums might go up. It’s not just about you being a good driver but the overall claims they’re handling.
If you think your rates are too high, it might be worth reviewing your coverage. Could you handle a higher deductible? Is your older car still worth full coverage? Sometimes cutting unnecessary extras can help too. Comparing rates with other companies every few years is also a good idea, just make sure you’re comparing the same levels of coverage.
A lot of these complaints seem to come from people in high-risk areas or with high-risk vehicles. Everyone’s situation is different. Some folks just won’t be happy no matter what.
Lux said:
A lot of these complaints seem to come from people in high-risk areas or with high-risk vehicles. Everyone’s situation is different. Some folks just won’t be happy no matter what.
I don’t live in a high-risk area. My rates still went up, so it’s not just about location.
@Ari
Even rural areas can be higher risk. Things like poorly lit roads, wildlife, or even emergency response times can impact the risk level.
@Ari
I didn’t mean everyone. Just pointing out that there are many factors that go into it, not just location.
Lux said:
@Ari
I didn’t mean everyone. Just pointing out that there are many factors that go into it, not just location.
How do you know where other people live? Complaints are coming from all kinds of places for a bunch of different reasons.
I tried comparing my auto coverage to another company once, thinking I’d switch. I listed all my current coverages and ran it through Geico’s online tool. Ended up staying where I was. The savings weren’t big enough to bother switching.
We’ve been with them since the early 90s. We’ve had several claims over the years, both our fault and not. Their claims service has always been excellent. For example, in one accident, someone ran a red light and hit me while I was making a left turn. It caused nearly $20k in damage. They decided I wasn’t at fault and started payments to the repair shop right away.
I get that their rates might not be the cheapest, but for us, the service has been worth it.
Our home insurance started at $1,700 annually four years ago and is now $3,100. No claims or damages. It’s crazy how much it’s gone up. I don’t even think inflation explains it.
Bali said:
Our home insurance started at $1,700 annually four years ago and is now $3,100. No claims or damages. It’s crazy how much it’s gone up. I don’t even think inflation explains it.
Materials and labor costs have skyrocketed. It’s not just about the price but also how hard it is to get tradespeople.
@Piper
Before the pandemic, I got a quote for a kitchen remodel. Same contractor, same materials, same plan—post-pandemic, the cost quadrupled. It’s wild.
My rates just went up in the last year. They were pretty low before that.
I feel like I’m paying for my rental car all over again. They could’ve just given me a smaller payout, and I’d have been fine with it.
We’ve been with them forever—third generation in my family. Things got more expensive when they expanded membership to more people. It’s been disappointing. I’ve kept them for car insurance because of discounts, but their home insurance? Ridiculously overpriced.
Same here, my rates have been going down a little at each renewal.
This company has gone downhill. I gave up and switched.
Been with them for 35 years. My rates have stayed low, probably because of where I live and my driving record. What concerns me is the growing number of complaints about their claims service. It’s hard to know if that’s just the upset people speaking up, but it’s something to watch.
Their banking, though? Yikes. That was a disaster.
I only noticed rate hikes last year, and I’ve been with them for 38 years.
Rates are starting to level off now. It might depend on what state you live in, though.