Insurance Premium Hike
 

So last year the State Farm 6-month premium for our '94 FD was $312. Just received a premium notice for 6 months due March 17th tor $480. No accidents, no tickets, same driver, same coverage. What happened? (Yes, we are going to call our agent.) Any comments?

Mine for my regular cars (3 of them) went up $100 a month for no reason. Collectors for the RX7 and other car did not go up.

I had something like this happen recently. The explanation given by the insurance agent was that the rates are calculated based on the amount of claims being paid out in that zip code. This statement upset me because it implies EVERYONE pays more for those that are making claims regardless of YOUR record. When I made this statement the agent simply answered..... yes. Other factors considered are the estimated number of non insured drivers in your zip code.

It's a really crap situation because your rate doesn't go down if the amount of claims paid out is less than amount that caused it to rise in the first place. Here in Tampa there seems to be more out of state plates than Florida ones. There has been a mass migration to Florida in general and the residents who have been here are paying the price for it. Insurance is a real scam but we are all a slave to it unless its cheaper for you to pay the ticket or post bail lol

I've had my RX7's (FD & FC) insured with American Collectors Insurance (ACI), for many years now, and my rates have been pretty stable. Typically I'll see a small increase year to year that is about what you would expect for general inflation, like < $20 increase on the entire policy for both '7s. But for my daily driver, the regular car insurance policy I have with Geico (2014 Mazda 3), I've been seeing substantial rate hikes similar to what the OP & FDAUTO are reporting - based on my MD zip code essentially, that have nothing to do with my driving record (i.e., zero claims, zero traffic tickets/violations).

It looks like the rate freeze California regulators instituted over the past 3 years… since 2020, ended.
And historically they’re about 15% higher than the national average to begin with.

I've got American Collectors as well and they haven't raised anything. My USAA went way up for my dailys.

mine went up on my DD's....and no change in anything other than more NYer's moving down.

Ah yes, the crux of socialism. Whereby the percent of people whom milk the system are bank-rolled by those that fund the scheme. You see that directly in your property taxes, in your income taxes, in your health/home/auto insurance premiums, and in anything else the corrupt government or some scumbag corporation can get their grubby hands on.

:facepalm:
Only Archie Bunker wouldn’t struggle to be to the political right of me, but I doubt it has much to do with socialism or government’s grubby hands.
Maybe the OP can post up what his agent said, but my suspicions lie with….

* A freeze on premiums made by the OP’s home state 3 years ago which apparently ended January 1 of this year.
* A significant increase in costs during the last 3 years nationwide (and perhaps sharper In California). Including the costs to purchase vehicles and cost to repair vehicles, which understandable puts upward pressure on insurance premiums.
* The need of insurance carriers to show a return to investors, which probably includes many of us capitalists.

Nevermind.

Yes, my USAA for my daily is insane; I talked to my agent for 45 min. about getting my rate lower, it came down to the fact that most of Florida (25%) isn't insured.

The California Tax. My rate increased significantly as well and I have zero claims or tickets.