Massive insurance premium increase
- Thread starter noobzilla
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My renewal this month is going up from $1563/6 months to $1779 with Amica. $250k/$500k/$100k coverage with $1000/$500 deductibles and full glass coverage (plus a few other cheap option coverages)
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That’s not terrible, I’ll have to call Amica and figure out why they quoted me $936/month!
Same as you, I’m with USAA and my car got hit (not my fault), although the damage was relatively minor…
Just a comment on deductibles, I would assert that if you do the math the only way to go is with $1000 deductibles vs lets say $500. Look at it this way, the lower $500 deductible is providing an additional $500 of out of pocket risk protection vs the $1000 deductible. But the deductible applies to damage you caused (or act of mother nature), not damage caused by another in a "not at fault" accident (I do not know no fault state rules). so how many of these "at fault" accidents are you planning on having, I like to think I am an reasonably safe driver and the last time I had a "at fault" accident was when I was in my 30's (knock on wood), that was like well over 25 yrs ago, and in my wifes case, she has never had a real "at fault" accident (tapped the pizza delivery guys car once backing out of the garage and we paid out of pocket). So even if you plan (like we actually plan it 
) on having an "at fault" accident let's say every ten years, that's a risk cost avoidance of $50/year. So if the $1000 deductible policy is at least $25 less expensive per 6 months than the $500 you break even. And if you can go 20 years between "at fault" incidents, then the savings only has to be $12.50 per 6 months to break even. In our case the $1000 deductible saved well more than $50/6 months and thus a no brainer in my opinion. I guess if you have a substantial act of mother nature risk that should be taken into account but in our case we do not, no real flood/severe weather risk, cars are always parked in the garage, safe parking locations at work, etc.
) on having an "at fault" accident let's say every ten years, that's a risk cost avoidance of $50/year. So if the $1000 deductible policy is at least $25 less expensive per 6 months than the $500 you break even. And if you can go 20 years between "at fault" incidents, then the savings only has to be $12.50 per 6 months to break even. In our case the $1000 deductible saved well more than $50/6 months and thus a no brainer in my opinion. I guess if you have a substantial act of mother nature risk that should be taken into account but in our case we do not, no real flood/severe weather risk, cars are always parked in the garage, safe parking locations at work, etc.xponents
Active Member
Wow.. even if it wasn't your fault? Then again, I suppose thats what warranty is for.
Steveinarizona
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Yeah. I have the Geico car insurance with homeowners but mine is bundled with Travelers. And I have a GEICO umbrella policy sitting on top of both.
10k per year! Wow!
? Premium is for 6 months
good
I've got USAA also for my Touring in Delaware. My policy, bundled with home & a decent driving record & similar deductibles, is a hair under $4,800 a year. That's more than 50% more a year than I was paying for a AWD Lexus IS.
I also have USAA. My 6 month premium for 2022 AGT and 2020 Porsche Macan is $1635.13
Where do you live ?
Allstate has applied for a rate increase in NJ citing the rising average price for cars and increased expense of expense of repairing cars. Related to this for BEVs is an article the other day about how often insurance companies are declaring Teslas totaled rather than trying to repair them Because of the way the battery is integrated as a structural element.
Scottsdale, Arizona
My USAA 12-month premium (NH) for my AGT is currently $1360; the estimated renewal looks to be about $1395, but we'll see if that increases when I up my mileage. My 2000 Toyota RAV4 is only $397/year. 
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Shortly before this thread was created, I got a letter from our insurer, State Farm, warning of coming auto premium increases and listing pretty much the same reasons reported by other posters who got similar notices. When two envelopes arrived from State Farm today, I held my breath as I opened them. Now I'm breathing a bit easier.
Our Lucid premium increased by 15% (to $592.47 per semi-annum), and our Honda premium increased by 11% (to $674.53 per semi-annum). I'm still waiting for the renewal notice on our Model S Plaid.
As before, insurance for our Lucid Air Dream Edition continues to run appreciably less than for our 2018 Honda Odyssey minivan that cost only 28% of what the Lucid cost. And this was despite the fact that our first Dream Edition was totaled in an accident just a few months ago.
I won't go into what just happened with our Homeowners premium increase here in Florida, though. That tale is too terrifying to recount.
Our Lucid premium increased by 15% (to $592.47 per semi-annum), and our Honda premium increased by 11% (to $674.53 per semi-annum). I'm still waiting for the renewal notice on our Model S Plaid.
As before, insurance for our Lucid Air Dream Edition continues to run appreciably less than for our 2018 Honda Odyssey minivan that cost only 28% of what the Lucid cost. And this was despite the fact that our first Dream Edition was totaled in an accident just a few months ago.
I won't go into what just happened with our Homeowners premium increase here in Florida, though. That tale is too terrifying to recount.
You must live in a low risk area…I’d love to have your post increase rates! (Although without comparing like for like coverages it’s hard to know if it’s a fair comparison of course…)
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I carry a high comprehensive deductible -- $2,000 -- as I've never had a comprehensive claim in over 50 years of driving. Liability limits are pretty standard at 250K/500K/100K.
Mine is $1k but there was an insignificant price advantage over a $2k deductible. Liability limits same. No tickets, never made a claim. But my city is full of aggressive drivers who ignore traffic laws (which don't seem to be enforced anyway).
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