I had read that the Auto Insurance Rates were expected to go down in numerous (but not all) states, but I really expected the normal inflationary increase to only offer a “Premium Adjustment” with little difference… How wrong I was this year…
I pay our Auto Insurance twice a year and the last bill was almost $1,075 for our vehicles. I have full coverage with lots of endorsements… But the bill that arrived today was only $942. That’s a reduction of $133 or just over a 12% discount…
I checked all the endorsements and they are all still there with no major changes in verbiage…
We do qualify for the Multi-Line Discount, Multi-Car, Vehicle Safety, Accident Free, and Annual Mileage Discounts.
The included paperwork “Annual Report to the Mutual Policyholders” usually explains why the rates went up; instead explained that they were issuing $5 billion in cash back dividends and auto rate decreases…
I am so surprised that with all the Wildfires, Floods, Storms, etc… that the insurance companies consider this a good year and are willing to share and return some of those profits… Something I imagine the Big Oil Companies will not willing to do…
Lucky you. I pay our auto insurance every month because paying 6 months at a time is a big hit. Our policy renewed in Feb and it didn’t go up or down. That was a bit of good news here anyway.
We get all the multi-bundle-accident free-good driver discounts as well, but the bill is still $743 per month. And that’s without full coverage. 2 teen drivers is a real money drain.
When I turned 16 in 1966, I was assigned to an Assigned Risk Pool to Travelers Insurance… I had to pay a year in advance and it was just over $1,200 for minimum coverage for my 1954 Dodge Meadowbrook, that amount equates to like $12,000 today. Minimum wage then was $1.25… I had a very skewed perception of the value of money then but I scrimped and saved, worked two part-time jobs, took odd jobs (mowed lawns, shoveled snow, chopped wood, worked as a field-hand picking apples , and even collected soda and be-er bottles for 2 and 5-cents each…
The “hyphenated” word is “too” impolite to be allowed and would be blocked outby the Nanny vulgar word algorithm…
Mine and asemaster’s generation had to own our on vehicle(s) in order to do anything, I had both parents that worked full time, NO public transportation of any kind anywhere close, no Ubers etc etc friends all worked also, so if you wanted to go anywhere you HAD to have a vehicle, no city here only suburbs/country living…
I bought a 2nd car while still 18 and have always had at least 2 if not more vehicles, I was the go to for parents/brother when they needed a loaner… Should have seen mom (always in work dresses, an actuary for an insurance company) when I was rebuilding her car, driving my Black with twin Orange strips down the side and loud exhaust… She was NOT a hot rodder…
Overall ours has been going down just a little bit (other than me adding the truck) for the last few years, it should drop even more now that our daughter just turned 25… She reimburses us for it anyway, it just saves money having more vehicles on one plan…
