Oh, here we go again

[Sam69sat]

A truck cost 100 thousand, how much do you think insurance should cost to cover it, especially as they go up daily along with repair cost. I hate insurance companies, but I also hate the cost of a 100 thousand dollar truck. Imagine hitting two of them in one accident.

It's definitely a problem. It's also a problem when millions of people are priced out of insurance and decide go without. I drive a $2k truck. Should i have to subsidize someone that drives a $100K truck? Yes, no, maybe, i'm not sure. I definitely don't have the answers. Maybe the answer is if you want to drive, then you'll bear all responsibility and if you want your vehicle and body insured, you're gonna pay a LOT more. That's not what i want to see but that's what it might come to with all the price hikes, uninsured, illegals driving, etc, etc. Drive at your own risk i guess.

 

[Hey-O]

It's definitely a problem. It's also a problem when millions of people are priced out of insurance and decide go without. I drive a $2k truck. Should i have to subsidize someone that drives a $100K truck? Yes, no, maybe, i'm not sure. I definitely don't have the answers. Maybe the answer is if you want to drive, then you'll bear all responsibility and if you want your vehicle and body insured, you're gonna pay a LOT more. That's not what i want to see but that's what it might come to with all the price hikes, uninsured, illegals driving, etc, etc. Drive at your own risk i guess.

I don't have the answers either, I get where you're going!!

 

[Budnicks]

Actually, no, at least on the first part of the statement.
Insurance rates are going up due to several factors, but as far as auto insurance goes, the increases may be rightly laid at the feet of one group - lawyers. [of course lawyers are aided and abetted by government - which is made up majoritively of lawyers...] Costs go up linearly with regulations and lawsuits.
Another factor is the preponderance of uninsured running around, not to mention exponential rise in complication of vehicles and attendant repair costs. Both are a governmental failing.
Insurers do NOT make money on auto insurance; any loss ratio of 110% or below on car insurance is considered a 'good' year. Auto insurance is a gateway into property insurance which usually makes a few percentage points in most non-coastal areas and then into Life Insurance which is where the big bux are.
Yes, progressive and the Big Farm should be avoided like the plague due solely to their extreme left bias and funding of anti -anything -thats - right causes as well as their stated anti , "Heritage American' shall we say, corporate policies.
Yes, one should shop rates every 2 or 3 years as many companies will give a slight discount for new policies. However...! It is more important to shop coverage - make sure you are comparing apples to apples and make sure you have everything covered that you want. As far as auto insurance goes, I would highly recommend having PLENTY of UM [ Un or Under insured motorists]; the 'people' driving around with no coverage also cause a majority of accidents and can ruin you in a nanosecond.
And yes, its only going to get worse as the economy implodes, costs go thru the ceiling and the ghetto lottery continues on. An industry publication recently noted that personal lines insurance premiums are expected to increase approximately 23% in the coming year - and that was forecast early THIS year. We're seeing it and next year will most likely be worse assuming things continue on somewhat 'normally' , and I use that term advisedly as there has not been any 'normal' progression in this society for many a moon...
[no, I am not an insurance agent - i just happen to be well acquainted with the industry and facts pertaining to it regrettably]

Bingo !!!

 

[not so famous bob]

They ought to be giving home owners rate cuts since they've been cutting home owners in Florida, California, and probably other places they say are prone to disasters. Imagine paying home owners insurance your entire life and then you get a letter form the insurance company saying "bye bye but thanks for 30 years of premiums you god damned sap!" There's a reason people strongly dislike insurance companies. No offense to insurance agents. It's not personal. Also, when auto insurance is LEGALLY MANDATORY, companies shouldn't be able to raise rates 25% in 6 months. There should be a yearly cap on the percentage they can jack those rates.

Much like state farm , I paid them from the time I was 16 till 31 , the6y offered me $2700 for a brand new xlt pick up , they thot they had me over a barrel since I was making payments and a working stiff/needing a truck. I fought with them for a yr. before they came up to what it was worth . NEVER AGAIN USE STATE F---- !!!

 

[Hey-O]

Like everything, an opinion.

Car insurance premiums around the U.S. are soaring. Here's why.

American drivers are spending less to fill up than a year ago, but paying a whole lot more to insure their vehicles.

www.cbsnews.com

 

[demonram]

Like everything, an opinion.

http://[URL]https://www.cbsnews.com/news/car-insurance-rates-inflation-costs/

[/URL]

When I moved here 8 years ago, my insurance was more for 3 vehicles than the 4, I had in Illinois. After being here a bit, I understood why. The drivers here are the worst drivers I’ve ever seen. Between that and the windshield replacements, I clearly see why. What’s funny is, the natives blame it on the snowbirds. That’s BS, I’m here, all four seasons (we really only have 2) and believe me, they drive like nuts. My insurance really hasn’t gone up that much. Of course, we haven’t had a claim or a ticket in at least 25 years, have excellent credit scores and I do check around to keep everyone honest. It’s amazing the price difference between the companies. I currently have, State Farm for the home, Jeep and Promaster. Hagerty, for the Plymouth and the D150.

 

[Hey-O]

When I moved here 8 years ago, my insurance was more for 3 vehicles than the 4, I had in Illinois. After being here a bit, I understood why. The drivers here are the worst drivers I’ve ever seen. Between that and the windshield replacements, I clearly see why. What’s funny is, the natives blame it on the snowbirds. That’s BS, I’m here, all four seasons (we really only have 2) and believe me, they drive like nuts. My insurance really hasn’t gone up that much. Of course, we haven’t had a claim or a ticket in at least 25 years, have excellent credit scores and I do check around to keep everyone honest. It’s amazing the price difference between the companies. I currently have, State Farm for the home, Jeep and Promaster. Hagerty, for the Plymouth and the D150.

I was talking to my wife about all this BS today. I was paying around $5,700 a year for, two houses, 5 cars, three new, two boats, a boat dock and two wave runners, about 25 years ago. In 45 years I had 5 windshields, $4,500 repair on a boat dock, $1,700 hail damage on a car, $9,000 on a roof, same hail storm. My agent is a friend and he said, one more claim and he might have to drop me. I said not a problem, f**k you. I've never had a claim for an accident, or ticket in 45 years. I'm still with him after 45 years and we have an understanding, I send him the payments, I say nothing and the raping continues. I been able to fix, get around, manipulate or out right buy my way out of a list of BS in my life, this one is totally out of my control.

I'm down to one house $2,110.36, a 2019 Durango $1,183.10 and Cora $361.48. The house is 1736 square foot, 3 years old and the Durango only has just south of 20,000 miles. I have never owned so little and paid so much. I do get one dinner, birthday cards, Theresa and I and a Christmas card. The cards are Hallmark................... Shelter Insurance.

 

[demonram]

I was talking to my wife about all this BS today. I was paying around $5,700 a year for, two houses, 5 cars, three new, two boats, a boat dock and two wave runners, about 25 years ago. In 45 years I had 5 windshields, $4,500 repair on a boat dock, $1,700 hail damage on a car, $9,000 on a roof, same hail storm. My agent is a friend and he said, one more claim and he might have to drop me. I said not a problem, f**k you. I've never had a claim for an accident, or ticket in 45 years. I'm still with him after 45 years and we have an understanding, I send him the payments, I say nothing and the raping continues. I been able to fix, get around, manipulate or out right buy my way out of a list of BS in my life, this one is totally out of my control.

I'm down to one house $2,110.36, a 2019 Durango $1,183.10 and Cora $361.48. The house is 1736 square foot, 3 years old and the Durango only has just south of 20,000 miles. I have never owned so little and paid so much. I do get one dinner, birthday cards, Theresa and I and a Christmas card. The cards are Hallmark................... Shelter Insurance.

Heck sir, I have no complaints at all. My house is 2450 sq ft. A pool, 3 car attached garage, it’s about $1,350.00, the Jeep and Promaster are $1,290 and the car and pickup are $950.00. Of course full coverage on all with maximum limits and I have underground utility coverage to the house, water, gas and electric. I’ve never had a home claim, on any, (never had a reason) last accident was 40 years ago and it wasn’t my fault. I’ve been lucky, as my dad used to say, don’t crow too loud.

 

[Hey-O]

Heck sir, I have no complaints at all. My house is 2450 sq ft. A pool, 3 car attached garage, it’s about $1,350.00, the Jeep and Promaster are $1,290 and the car and pickup are $950.00. Of course full coverage on all with maximum limits and I have underground utility coverage to the house, water, gas and electric. I’ve never had a home claim, on any, (never had a reason) last accident was 40 years ago and it wasn’t my fault. I’ve been lucky, as my dad used to say, don’t crow too loud.

I really don't care what it cost, we have no choice in the matter. When I got the house in 02-26-2021 the cost was $996.59. It's went up that much. It's max on everything and over the years, with all my homes, the only thing I've changed is the deductible. My deductible was always $500.00, it's now $1,000.00. When I was still a two home guy, one home was 3,700 square feet, 4 car attached and the other, my lake house, was 1,200 square feet, the pool was 56,000 acres. Even with the over and above added protection for the lake house, this is a raping in comparison.

What many people don't factor is the cost of replacement now. If a guy wants $20.00 a hour to flip a burger, what's a guy going to get that has a real skill set. Material has went up and there are still some Covid affects factored in, there shouldn't be, but there is. My real concern is going forward, these storms are going to push demands for materials through the roof, that will only make the cost go up, in my opinion.

I was helping my old neighbor the other week and we were talking about my old house across the street from him. He told my that the last big storm, they called it a 1,000 year event, caused the water between my old house and my old next door neighbors, to run half way up the side basement windows. It went down in a few minutes, as the rain let up and the overflowed storm sewers caught up. The development sits on a bluff overlooking the bottoms, hundreds of feet up. This was strictly runoff from the hit and run storm that had never happened before. I get these once in a lifetime disasters, but if I lived in Florida, I'd move. My nephew and his wife moved to Jacksonville Florida, two or three years ago, to be closer to her family, 5 family members, in different homes. He told my brother he's not happy. He's house is stupid big and so are his costs........... Anyway, you get the picture......... Ulli

 

[demonram]

I really don't care what it cost, we have no choice in the matter. When I got the house in 02-26-2021 the cost was $996.59. It's went up that much. It's max on everything and over the years, with all my homes, the only thing I've changed is the deductible. My deductible was always $500.00, it's now $1,000.00. When I was still a two home guy, one home was 3,700 square feet, 4 car attached and the other, my lake house, was 1,200 square feet, the pool was 56,000 acres. Even with the over and above added protection for the lake house, this is a raping in comparison.

What many people don't factor is the cost of replacement now. If a guy wants $20.00 a hour to flip a burger, what's a guy going to get that has a real skill set. Material has went up and there are still some Covid affects factored in, there shouldn't be, but there is. My real concern is going forward, these storms are going to push demands for materials through the roof, that will only make the cost go up, in my opinion.

I was helping my old neighbor the other week and we were talking about my old house across the street from him. He told my that the last big storm, they called it a 1,000 year event, caused the water between my old house and my old next door neighbors, to run half way up the side basement windows. It went down in a few minutes, as the rain let up and the overflowed storm sewers caught up. The development sits on a bluff overlooking the bottoms, hundreds of feet up. This was strictly runoff from the hit and run storm that had never happened before. I get these once in a lifetime disasters, but if I lived in Florida, I'd move. My nephew and his wife moved to Jacksonville Florida, two or three years ago, to be closer to her family, 5 family members, in different homes. He told my brother he's not happy. He's house is stupid big and so are his costs........... Anyway, you get the picture......... Ulli

You are absolutely correct on all counts. I of course know what you mean on material. One example, OSB and plywood. 1/2” OSB was up to $45.00 per sheet, 2 -3 years ago, I’ve seen it as low as 17 and up to 25, since, and have seen it go up 5 bucks in a week, and back down the same, within two. It’s about 22, on average now. That’s from around 10-12, before the pandemic and disasters that have been happening. Of course labor is a big factor and that is unfortunately why, manufacturing is not coming back in groves, as all of us would like. I’ve done my share of flood and fire jobs, not the type of flooding that’s currently occurring but sewers, sump pump failures and water coming in basement windows. I also agree, I wouldn’t live in Florida or Louisiana? I don’t care what is supposedly built to withstand Mother Nature, she’s going to do, what she’s going to do, nothing will stop it. If you live there, you should have to pay much more for insurance and we’ll still have to supplement, with our premiums. Never felt the need for a big house, heck this one is too big for 2 of us. I’d rather have a 1200 sq ft and my garage from 2 houses ago.

 

[Ron H]

About 15-years ago got hit by a hail storm. Toasted my ’97 Ram and wife’s Eagle Vision. (I had pulled it out of the garage an hour before the storm so my daughter coming home for a visit from college could park in the garage – yeah, she got home after the storm). The adjuster while here asked about other damage, since I hadn’t considered it, he said given the damage to your vehicles, I should check your roof. He said our roof and gutters are damaged. So went the claim, totaling my truck, new roof and gutters. Our in-laws lived 300-yards from us asking him if he could look, they had a trashed roof too. Our claim came out around $25-grand, then.

Hail storm hit nearby last year, where three of my friends live in subdivisions. Same deal, they had no idea; their vehicles were inside. They were visited by a contractor knocking on their doors saying you may have roof damage from the hail-storm; can we make an inspection for you? Dang hey, one got a new roof, all new siding, and gutters. Other two, a new roof. Driving in their neighborhoods – oly chit dozens of homes getting new roofs, etc.