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Started By
Message
Why hasn't auto insurance come down yet
Posted on 4/16/24 at 8:15 am
Posted on 4/16/24 at 8:15 am
When cost to repair and maintenance has been falling? Mine keeps going up despite no claims, tickets, etc.
33
Posted on 4/16/24 at 8:17 am to The Scofflaw
Because insurance pays more than just repair expenses. It also pays for injuries. And medical costs are still rising.
Posted on 4/16/24 at 8:18 am to The Scofflaw
Has claims activity in your area decreased?
Posted on 4/16/24 at 8:18 am to The Scofflaw
Is this total spending, average cost of a repair, or something else?
This post was edited on 4/16/24 at 8:19 am
Posted on 4/16/24 at 8:19 am to The Scofflaw
quote:
Mine keeps going up despite no claims, tickets, etc.
They look at the entire enchilada. I'm stunned people don't understand this.
They aren't just looking at you. They are looking at the entire supply of who they are covering/costs/loss.
The cost of cars has skyrocketed is as well....more money to cover in the event of loss.
Posted on 4/16/24 at 8:19 am to The Scofflaw
Planet Money literally just dropped an episode on this, this am. I haven't listened to it yet.q
Posted on 4/16/24 at 8:20 am to The Scofflaw
Get a different agent.
Not all agents are created equal.
Not all agents are created equal.
Posted on 4/16/24 at 8:21 am to The Scofflaw
Because they can.
Posted on 4/16/24 at 8:23 am to The Scofflaw
quote:
When cost to repair and maintenance has been falling?
I don’t believe this at all, especially with body and paint repairs
Posted on 4/16/24 at 8:24 am to thecoconuttiger
quote:Agents don't set the rates
Not all agents are created equal.
Posted on 4/16/24 at 8:24 am to The Scofflaw
Are EVs cheap to repair?
Posted on 4/16/24 at 8:27 am to The Scofflaw
quote:
Why hasn't auto insurance come down yet
Posted on 4/16/24 at 8:28 am to Teddy1388
If an agent's clients have to many claims the company will raise the premiums.
This post was edited on 4/16/24 at 8:29 am
Posted on 4/16/24 at 8:29 am to thecoconuttiger
quote:
Get a different agent.
Not all agents are created equal.
Louisiana has the highest “true cost”/percentage of income spent on car insurance in the country. There isn’t much an agent can do about that.
Posted on 4/16/24 at 8:30 am to The Scofflaw
Governor Gordon should sue the insurance companies to make rates cheaper
Posted on 4/16/24 at 8:31 am to The Scofflaw
Car theft: up
Litigation costs: up
Car parts: sky rocketing
Car replacement: way up
Body shop costs: way up
I’m not an expert in this field, but when all the costs are going up it only follows that the premiums will follow.
Litigation costs: up
Car parts: sky rocketing
Car replacement: way up
Body shop costs: way up
I’m not an expert in this field, but when all the costs are going up it only follows that the premiums will follow.
Posted on 4/16/24 at 8:32 am to thecoconuttiger
quote:??? If an insured has a chargeable claim, yes. But an agent with high loss ratios will not see specific rate increases for his agency only. Rate increases are state wide.
If an agent's clients have to many claims the company will raise the premiums.
Posted on 4/16/24 at 8:32 am to Evil Little Thing
quote:
Louisiana has the highest “true cost”/percentage of income spent on car insurance in the country. There isn’t much an agent can do about that.
That can’t be right
Half the drivers in the state don’t have insurance
Posted on 4/16/24 at 8:33 am to Evil Little Thing
Are you addressing the company or the agents?
Agents in bad standing have higher premiums. Always call several agents within the company to get the best rate.
Agents in bad standing have higher premiums. Always call several agents within the company to get the best rate.
Posted on 4/16/24 at 8:48 am to thecoconuttiger
quote:This just isn't true. Not for personal auto insurance in Louisiana.
Agents in bad standing have higher premiums
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