It’s absolutely regional/local. Auto insurance policies are, among other things, dependent on location. Yours must be a relatively low risk area.
Massive insurance premium increase
- Thread starter noobzilla
- Start date
I was with farmers and paying $1900/month for all my cars and had to have 2 policies since they only allow 6 vehicles per policy Switched to Geico and got down to $1300/month. Recent renewal is now at $1600/month. Hoping I can get it down more with some extra discounts 
Also insurance companies this year have gone bonkers. Some have totally dropped some industries ( I am currently trying to insurance my business vans) and some are just exiting states leaving the rest of the carriers be able to significantly increases prices. I have had 6 non renewal notices this year on RE and none of them had claims.
Also insurance companies this year have gone bonkers. Some have totally dropped some industries ( I am currently trying to insurance my business vans) and some are just exiting states leaving the rest of the carriers be able to significantly increases prices. I have had 6 non renewal notices this year on RE and none of them had claims.
- Joined
- Feb 13, 2022
- Messages
- 828
- Cars
- Lucid Air GT
I have my business vans insured through liberty mutual if that helps! My GT is with safeco, I’ve been pleased, but I haven’t had to go through any claims either!I was with farmers and paying $1900/month for all my cars and had to have 2 policies since they only allow 6 vehicles per policy Switched to Geico and got down to $1300/month. Recent renewal is now at $1600/month. Hoping I can get it down more with some extra discounts
Also insurance companies this year have gone bonkers. Some have totally dropped some industries ( I am currently trying to insurance my business vans) and some are just exiting states leaving the rest of the carriers be able to significantly increases prices. I have had 6 non renewal notices this year on RE and none of them had claims.
- Joined
- Nov 19, 2021
- Messages
- 6,913
- Location
- Cupertino, CA
- Cars
- Air DE-P, ZR, 21"
- DE Number
- 241
- Referral Code
- Q1BTN5Y3
Yeah - I loved GEICO when I had it, but with nearly every insurer bouncing out of CA, and with housing prices I’m Cupertino being what they are, I’m sticking with PURE as long as they’ll have me even though GEICO would be much cheaper.I was with farmers and paying $1900/month for all my cars and had to have 2 policies since they only allow 6 vehicles per policy Switched to Geico and got down to $1300/month. Recent renewal is now at $1600/month. Hoping I can get it down more with some extra discounts
Also insurance companies this year have gone bonkers. Some have totally dropped some industries ( I am currently trying to insurance my business vans) and some are just exiting states leaving the rest of the carriers be able to significantly increases prices. I have had 6 non renewal notices this year on RE and none of them had claims.
At this rate, I’m not even sure if GEICO would insure my home as it would be “too high value.” I used to be insured by Hippo (which I *highly highly* recommend btw) but then I discovered I was severely underinsured because the home was higher value than they’d insure.
It’s all very very annoying.
Hippo was my favorite insurer I’ve ever worked with, I just wish they’d insure me
I tried Hippo and their quote was 2x what I am paying right now, currently my house is insured with American Family and have been happy but they won't do my cars. I need to sit down and work on these insurances and settle with a good one but this turbulence in the market has really made it difficult.
- Joined
- May 11, 2022
- Messages
- 1,535
- Location
- Fremont, CA
- Cars
- Pure AWD Ioniq 5 Sienna
- Referral Code
- 6GGPB14C
I too have travelers including umbrella insurance. My renewal happens in Oct. I guess it will go up. I have 3 cars including lucid and no claims.
Steveinarizona
Active Member
I am not in California but I have GEICO and for homeowners they used Travelers and acted as an agent for Travelers (common ownership).
I am currently with AIG in Chicago and paying around $7600 a year for the Lucid. Just got a quote from Pure which was at much higher. I had my agent contact Cincinnati and their price for the Lucid was around $4300. Do any of you have any experience with Cincinnati regarding claim experience. I know that one generally gets what they pay for but this is certainly worth exploring.
- Joined
- Nov 19, 2021
- Messages
- 6,913
- Location
- Cupertino, CA
- Cars
- Air DE-P, ZR, 21"
- DE Number
- 241
- Referral Code
- Q1BTN5Y3
Cincinnati is great. I like PURE a little better, but when they wouldn’t insure me I had Cincinnati. Ironically, now PURE will ensure me but Cincinnati won’t lol.
- Joined
- Nov 19, 2021
- Messages
- 6,913
- Location
- Cupertino, CA
- Cars
- Air DE-P, ZR, 21"
- DE Number
- 241
- Referral Code
- Q1BTN5Y3
Touring is less than $100k base.
Insurance cost and availability is a huge problem in California, especially for Lucids, and other electric powered vehicles at this moment. I have reached out to all major companies and there are only a handful writing new policies in California at this moment.. AmFam (Costco is not writing any California policies currently). I confirmed this difficult insurance market situation with a major independent agent too.. The companies are pulling back here because of state regulation of rates and high claim values...The cost of repairs on EVs is also a huge issue Even if you have current coverage be ready for huge increases upon renewal. Annual rates of 5-6k for a Lucid are the norm right now here.. I do have a pending quote from Geico for about $4200, but they have a 15 day waiting period. This ugly insurance situation defeats the savings on fuel costs to a great extent. I expect this issue will impact sales here...
- Joined
- May 11, 2022
- Messages
- 1,535
- Location
- Fremont, CA
- Cars
- Pure AWD Ioniq 5 Sienna
- Referral Code
- 6GGPB14C
Not too long ago you could get non OEM parts for much less than OEM parts and there was competition. These days even a Toyota corolla probably has many OEM only parts with fancy and uniue head light and tail light assemblies and lot of electronics. Even what you think is a minor fender bender would cause more damage than we can see. Do you know that each head light assembly in Lucid costs $2k+ in parts? Also post covid as people drive more to work and we have fast EVs which weigh a lot more than similar sized ICE cars, the damage to the non EV is also higher at the same speed when it collides with EV.
I'm worried Geico would catch up and do a similar price increase.
I doubt it really cost that much. The OEM is selling for significant profit
My latest renewal with Geico was $2900/year.
- Joined
- Nov 19, 2021
- Messages
- 6,913
- Location
- Cupertino, CA
- Cars
- Air DE-P, ZR, 21"
- DE Number
- 241
- Referral Code
- Q1BTN5Y3
Oh, okay, well since you’re certain we’re getting ripped off, now I’ll get angry.
AirPlur
Active Member
I thought I had somehow had an amazing stroke of luck when State Farm (with whom I insure two other cars, my wife's matrimonial bling, and our rental property) quoted me $1450/yr to add my Lucid. Come to find out through no notification or contact from the company or my agent that the actual came in at about 3x as much ($4k/yr). Feeling incensed at how an insurance agency catfished me, I immediately...hit the Lucid forum. Things I can confirm: seems many insurers (Costco, Geico, maybe others) are ditching California, and the rest are massively jacking rates. That and finding once that provides gap insurance is also annoying.
@borski sounds like I should give PURE a look based on your experience and the fact that I'm your neighbor further down the peninsula. Lemme know if you have anyone you've been working with you'd like to refer my way
@borski sounds like I should give PURE a look based on your experience and the fact that I'm your neighbor further down the peninsula. Lemme know if you have anyone you've been working with you'd like to refer my way
I posted on this in early September before getting my Air.. I feel your pain... I had huge issues with this.. The entire insurance industry is imploding in California.. However, the $1450 a year quote sounds like a major mistake--I know that you can't insure a used Corolla for that price. Several carriers stopped writiing new auto insurance in California, and the Lucid quotes are very high. After much wrangling I was able to get price down for my Air Pure with my current insurer because I added before the policy renewed, but it is still crazy high.. More than 3k a year. FYI, Geico seemed best at first, but they have a slow 15 day review period and if you have any accidents or claims it will hurt. I think this insurance situation will kill potential buyers off.. Lucid needs to work out some sort of an insurance referral or alliance with a carrier if they want to get cars on California roads.
I know that you can't insure a used Corolla for that price. Several carriers stopped writiing new auto insurance in California, and the Lucid quotes are very high. After much wrangling I was able to get price down for my Air Pure with my current insurer because I added before the policy renewed, but it is still crazy high.. More than 3k a year. FYI, Geico seemed best at first, but they have a slow 15 day review period and if you have any accidents or claims it will hurt. I think this insurance situation will kill potential buyers off.. Lucid needs to work out some sort of an insurance referral or alliance with a carrier if they want to get cars on California roads.Similar threads
