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    Car Insurance premium rediculous

    Hi, is there anyone on the forum that is in the car insurance business or even has a lot of knowledge about car insurance? For 60 years I have always had State Farm car insurance. Today I drive a 2005 Honda with 42K miles and I am 78 years old. I pay my premium every 6 months, last statement was $744. Yesterday I got my new statement and now it is $844. I got the old magnifier and read the fine print hoping to get a reason why it went up so much. Okay, this must be something new now. They have checked my credit report which is fine, but due to my son who is 53 now and lives in my house he does not have any credit so that made my premium go up $100 more for 6 months? My son does not own a car so he drives my car about once a month. I was told once before when the premium went up it was due to living in south Florida, no fault state, and being an elderly that causes more accidents. Well I resented that remark because due to my quick action I saved my life twice from a young girl texting and another time a girl on her cell phone. On my driver license it says 'safe driver'.
    So please explain these ridiculous premiums. I'm paying almost $1,700 a year. I've gotten quotes from other companies and it wouldn't save me much to change.
    What does a person do when you can't afford car insurance anymore. I'm not ready to give up all my independence but looks like I'm being forced into it. Maybe I should remove my son's name from the policy and just give him permission to drive my car. Is that the way to do it? Is that legal? My agent isn't much help in explaining. Sometimes I feel like State Farm wants to force me out due to my age. Could that be it? I just don't know.

    Oh well, thanks for listening to my frustration tonight. Can't sleep for thinking about this. Has made my blood pressure higher. Since I've had one stroke I have to be careful and not get stressed out too much. If you know anything about car insurance or have had experience yourself please talk to me. When I'm stressed I don't think too clearly either. So I hope you can understand what I'm trying to say here. Once again, thanks for listening.
    sigpicLinda :icon_wave:

    #2
    Re: Car Insurance premium rediculous

    I'm sorry I can't help you with your question, but I am wondering whether you have taken advantage of the sizeable discount you can get from State Farm if you take the senior's driving ed course. Just a thought.

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      #3
      Re: Car Insurance premium rediculous

      Many years ago, we let our daughters boyfriend drive MM's car.....he had a diabetic blackout and totaled it with five people inside, one of which was my newborn grandson. Luckily, nobody was hurt or killed. We were told we could never allow him to drive any of our vehicles again and to always make sure if we lent it to someone to make sure they have insurance.

      Fast forward 22 years to this past November. Keep in mind, if you don't have insurance, you don't drive our vehicles. We lent our truck to our daughter who is fully insured. She hit ice or wet pavement in a curve, spun out, damaged our truck and a jersey barrier/guard rail on the freeway. She calls her company to report it. They tell her since it was our vehicle, we have to report it to our company. We call and question this, and our company tells us, yes that is correct. We report to ours, pay the deductible (she will be paying it) and they pay for our repairs. Even though they go after her company to be reimbursed, our rates will go up for three years!!! It is nothing but a big, fat, racket. They get you coming and again as you're going.
      pat.

      No rain....no rainbows!


      sigpic

      If you can't be nice.....BE QUIET!

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        #4
        Re: Car Insurance premium rediculous

        Bubba, I totally agree with you when you say it is nothing but a big fat racket. I call it GREED. Every time I get my statement it has gone up a little or a lot and they always have a good answer to why. I'm too fragile anymore to challenge them so I just give in to them. But when I calm down I do need to talk to my agent. They never try to help me save any money or cut corners, like they just don't care. I'm beginning to hate this whole state of Florida. I'm being forced to learn how to speak Spanish in order to even communicate with human beings. Seems like they get all the breaks they need. Go figure! I just have a bad attitude right now. My cable went up $10, my phone up $10, my internet up $10, my medical premiums hit the roof. Thank God my social security is still coming in. It goes on and on. I know, I'm not in this alone. What has this world come to. I grew up in the best generation ever was. I will never see that again.
        sigpicLinda :icon_wave:

        Comment


          #5
          Re: Car Insurance premium rediculous

          I routinely check my car insurance rates every year. As a senior I have always received the best quote through AARP. AARP in my state of Texas is using The Hartford insurance company that gets excellent reviews. It only cost $15 per year for a senior to join AARP and it is one of our best purchases.

          While you have no control over accidents, that is why we call them accidents, you certainly have control over whom you lend your car to and whom else you list as a driver on your insurance policy. Just as one example, you could remove your son from the policy and since he only drives once a month, take half of the money you have saved from not having him on the policy and set your son up with a car service like Uber or Lyft, or you can probably rent a car for $35 a day. Peace of mind for you.
          Stash Treasure Acquisitions Beyond Life Expectancy. My stash keeps me STABLE, oh yeah.... and dark chocolate.

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            #6
            Re: Car Insurance premium rediculous

            Also consider whether you still need full coverage on your car. Maybe things are different in Florida, but in Missouri, if you don't have your car financed, all you need in insurance is liability and uninsured driver's insurance.
            It's taking a chance, of course, and I wouldn't advise this if you don't have enough in savings to replace the car or repair it, but if you do, it's an option.
            And if you can tolerate the aggravation, you could do some shopping around. Insurance agents have been known to find "good customer" discounts if they are squeezed.

            Comment


              #7
              Re: Car Insurance premium rediculous

              We had State Farm for YEARS......and the price kept going up and up. I then started calling other insurance companies and found that Progressive was cheaper. Still, I think that $155.00 per month ( and yes the auto is new ....a year old ) is a little steep due to the fact that I don't drive the car much, DH is the driver. I honestly think that due to the fact that he is 68 yrs old is an issue.....Neither of us have had an accident EVER that has been our fault....Someone ran into me 28 yrs ago, and someone ran a red light ( during a police chase ) 35 yrs ago, ( way before I ever met DH ) ....and of course these accidents aren't on our record.
              I think this credit rating business is garbage too, I mean you have to have insurance and to me ( our credit rating is great) a credit rating shouldn't play into auto insurance.......we live in Michigan have no-fault insurance and if you DON'T have insurance you are penalized for it if you get insurance again.
              For a couple who has never been without insurance.....well, I think this is ridiculous in my opinion.

              My suggestion is to call around to some insurance companies to see what they might offer you. None of these insurance companies give you anything nowadays for being loyal.......BTW......in 10 yrs the insurance has gone up $250. How does the insurance company explain that ? They say it's due to costs they can't control.......right.....
              Jacqueline ( Sugar ) Dorer-Russell
              http:\\www.sugarssmilinpapercrafts.BlogSpot.com

              "I miss the me I was when you were here"

              Comment


                #8
                Re: Car Insurance premium rediculous

                Lindakay75, I know what you mean. We have had State Farm for years and my daughter has her own policy with State Farm as well. My husband bought a truck a couple of years ago and went to get insurance on it and it was going to be a little more than what we were paying on the three vehicles that we had insured in our name. My daughter rear ended someone a year or so before we got the truck and even though the policy was in her name and she claimed the accident on her insurance it affected our insurance rates because she lives with us. Needless to say my husband had a few words for the insurance agent and for our daughter. He keeps saying he is going to look other places but hasn't done it yet. I have thought about maybe raising our deductible on our vehicles but not sure if I want to. Good luck on your endeavors with Insurance.

                Comment


                  #9
                  Re: Car Insurance premium rediculous

                  When the kids were teenagers and on our insurance we had a larger deductible and that made some difference. I don't know if you have things that you could do without or change that like car rental. I would ask my agent if there were places you could cut cost. We have been with USAA for 37 years and have our house, cars, personal property all with them. They give a discount for having more than one of their policies.
                  Last edited by TMP; March 19, 2017, 09:13 AM.

                  Comment


                    #10
                    Re: Car Insurance premium rediculous

                    Maybe if the insurance companies didn't advertise so much on TV they could pass the savings on to the customers. Some of the ads are downright insulting. Also, all those cars that you see in the news that drive in flood areas....well someone has to pay for that foolishness. Just saying. I am with you on the frustration. We get a senior discount and also one for being retired. Check around some more. Your car is over 10 years old so you should be able to save more. Also, do not let your son drive your car without telling the insurance company. I think that could work against you in case there were an accident...no matter who hit who.
                    No act of kindness, however small, is ever wasted.
                    Aesop

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                      #11
                      Re: Car Insurance premium rediculous

                      I have a large deductible.....and the rates are still ridiculous. I thought about checking out some of these online insurance companies. I don't need a brick & mortar office due to the fact we haven't had to see an agent in years to claim anything. I do save a little money on having the home insurance and the auto insurance together .....but it isn't that much. We went down to one car years ago......as well.
                      Jacqueline ( Sugar ) Dorer-Russell
                      http:\\www.sugarssmilinpapercrafts.BlogSpot.com

                      "I miss the me I was when you were here"

                      Comment


                        #12
                        Re: Car Insurance premium rediculous

                        I live in Colorado, and my six month premium hit the roof in March. I have every Farmers' discount possible and my agent told me that the increase is nation wide because of "in-attentive drivers"---ie: cell phone users while driving.

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                          #13
                          Re: Car Insurance premium rediculous

                          Several years ago we had some ins issues also. The agent called us and suggested we come in and review our coverage. Bottom line is we only saved $50 or so, but we have what we NEED TO PROTECT US . Request a sit down with your agent for a full explanation of your coverage, and the laws involving issues such as "no fault", big surprise there. If your agent is reluctant to do so,maybe you need to check out other insures, but not on line. You don't have to buy ins from anyone just to sit down and talk to them about your circumstances. I live in S.E. Fla so I know the challenges, and your zip may play into it too. Good Luck Kathy
                          All quilts cat tested and approved.
                          sigpic

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                            #14
                            Re: Car Insurance premium rediculous

                            I found this article about credit scores and insurance rates. Wow! A poor credit rating can cost you more than an accident!

                            If your son has a poor credit rating, you might want to get him off your policy, but I'd be VERY CAREFUL about letting him drive. Be completely honest with the insurance companies, b/c if you aren't, they will use the tiniest little bit of deceit to deny any claim you have.

                            The other option would be to have your son pay the additional cost.

                            Anyhow, here is the link to the consumer reports article. Eye opening for sure!

                            http://www.consumerreports.org/cro/c...ates/index.htm

                            Comment


                              #15
                              Re: Car Insurance premium rediculous

                              Thank you Kaydee for that consumer report. My son doesn't have ANY credit, bad or good. No charge cards, nothing. He let his job go due to back injury plus he sold his truck. He drives my car occasionally, not enough to be paying higher premium. Yes, since they found out he has no credit it went up $200 more a year. Now, when he did work he was making truck payments, etc. but had his own insurance. He never had any credit cards. He was in ER for back problem one time and he never paid that bill so that went to a collection agency, but gosh, that was 20 years ago. Would that still count against him? First of all, I had no idea they could check your credit without your permission but they can. What about your medical records, can they have access to that too without your permission. This should be against the law.
                              sigpicLinda :icon_wave:

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