PSA: car insurance rates are going up

I’m hoping by posting this, maybe we’ll see less of the almost daily “Company raised my rates for NO reason” posts. I can’t be the only one who is exhausted by these. To the consumer or policyholder: I’m sorry your rates went up, I understand you might have a clear record, or great credit, ‘never made a claim’ or drive an old car… you are not being screwed by your company. This is not personal. Have you noticed the cost of your eggs/bread/gas/pretty much everything has increased? Well, that applies to car insurance as well. The cost of doing business, paying claims, paying body shops, rental cars, and again, pretty much everything has gone up. Post Covid driving habits have also, statistically, been bad. More accidents,longer times to repair cars, supply chain issue, all increase the costs to the companies, and they have to charge for those higher costs. I understand, maybe not “your fault” but unfortunately, insurance rating includes anticipated cost of a potential loss. There are more uninsured motorists on the road. Again, I know, It’s not fair that you pay for them,… but…. Here we are. The auto Insurance companies have done a huge disservice to the consumer by advertising insurance should be cheap. Now, many of those companies are no longer doing business in the states they can’t get adequate rate in, whoopsie. If you are in Texas, California, Florida, New York, and many, many more, your rates might go up as much as 40%. Part of this is claim driven, and in California and Florida, there are legislative issues as well. You can contact a broker and shop, but there is not a company that will not be raising their rates, if they haven’t already.

Ok, off my soapbox.