As a senior insurance agent I never recommend getting roadside assistance on your auto insurance policy. Why? Because they can and will use ANY claims (yes, that is considered a claim) against you. Get it with AAA or your cellphone company or anywhere else.

@LuckyLopez777

7 ай бұрын

Facts

@niciassmith1204

7 ай бұрын

That's like $5 out of $500 for six months. That's not the issue. The issue is the median car is $50k and on tip of that record number of people go uninsured which I have to pay for

@Big.G5137

7 ай бұрын

I didn't no that an I will be making a phone call in the morning

@shaychauntaye7047

6 ай бұрын

Good info. The more you know.

@jvolstad

6 ай бұрын

My insurance company, State Farm, said that is not true.

If EV's are high risk of being totaled than that should be reflected on the premium of the EV owners. The same way drivers of high performance cars pay much higher rates.

@martialman.4563

7 ай бұрын

It is, electric cars are more expensive to insure

Can't believe anyone is surprised insurance rates are increasing. Safe drivers have been subsidizing bad and uninsured drivers for years. Inner city thefts and vandalism hasve increased tremendously. Now, add in the rise in the cost of labor and parts for collision repairs, due to high inflation. You know the insurance companies aren't going to absorb those costs.

@langhamp8912

7 ай бұрын

The underinsured/uninsured portion nearly doubled my insurance rate (you can play with coverages within most insurance websites), hence, from that alone you can estimate that nearly half of wrecks involve an underinsured/uninsured driver.

@lookinforwater4344

7 ай бұрын

…not to mention the insurance scammers.

@user-pg3ti3vc5g

7 ай бұрын

Yeah ok dude. Go ahead and simp for the billionaires as the insurance companies rake in record profits.

@abel4776

7 ай бұрын

Don't insure, hold cash and a contract in your glove box. If you hit someone, tell the victim ill pay you x amount, sign here, and remove the insurance middleman.

@TheFrenchPug

7 ай бұрын

Don't forget about the EV total writeoffs when they burn down or get in a decent wreck.

There's a story in Canada where a guy ran over a rock in an EV and only damaged the battery cover and not the battery, but the dealership says a full battery replacement is needed and it would cost more than the car brand new, so he had to get it totaled for 2 small scratches.

@ambivertical

7 ай бұрын

Smh

@baoanprounited

7 ай бұрын

Yea i watched that video from Motor Mouth too. 61K CAD for battery replacement when the car is worth 55K…. Canada is notorious for automotive scams

@TheFrenchPug

7 ай бұрын

Exactly. EVs are going to kill car insurance rates from all of the write offs!

@raymondreiff8170

7 ай бұрын

Evs are Deleting themselves from the Market, Inconvenience high insurance and Absolutely No resale Value, A self deleting Car.

@larryragland887

7 ай бұрын

And how are they the savior of humanity again? 😂🤨

I am also in Vegas. 2 weeks ago I wrote a letter to Joe Lombardo on this topic after my annual premium jumped from $2700 to $5k and received a response back basically saying. Cost of labor/parts/repairs/parts shortage has increased, 1 in 5 drivers in Nevada are driving uninsured (no shiggin, they can’t afford insurance). In my letter I asked for a solution and was only given reasons. Buckle up and be ready for more and more drivers to be on the roads without insurance. Make sure you have enough uninsured coverage.

@stevenbrooks1243

5 ай бұрын

I live in Reno and had someone run a Red and T bone my F250 they had no insurance totalled their FJ. Cruiser and my Truck I was PISSED 😡

They raise the rates because you legally have to have it. There is nothing that anyone can do. They no longer compete, it's now collective gouging.

@Raggandrist

7 ай бұрын

Except that doesn’t work at all. In reality an insurance company who wants all the business just don’t increase their prices. Once the other companies realise they aren’t getting any business they too will reduce their prices.

@thelastprophet4578

7 ай бұрын

@@Raggandrist I understand. But when consumers have no other option, and are legally required to have it, they can all raise their prices and we just have to pay.

@nightvidcole5338

6 ай бұрын

And people are taking longer and longer to pay their loans off, which means that since they still owe money on their car, they cannot drop to liability only coverage...

I'm 64 years old. I live in NJ. I use AARP. The insurance company they use is Hartford insurance. I pay for full coverage for my 2022 Ram Rebel. I pay $96.14 a month for a total of $384.63 every 6 months, and I thought I paid too much after seeing your video. I now know I shouldn't complain. I'm sorry to hear you pay so much. 🙏🏼

Sweden here: I never paid more than 1% of the cars value annually in insurance with full coverage. $25/month for my new focus, had to pay $29 during my previous lease tho. Insurance prices have definitely not gone up last 10 years over here.

I own and operate and insurance brokerage in California and I chime in every once in a while when this topic comes up on this channel… it is not going to get any better until the end of the first quarter in 2025, according to the sources that inform me on my industry. Even then, it will gradually come down from where it eventually will settle, so that means that the rates will not get back down to pre pandemic levels potentially for a decade, if ever. I have been doing this for 16 years and feel pretty confident in my projected industry forecast... I may be wrong, but I doubt it, but this is one of the times I hope that I am wrong 😢

My rates (Arizona) went up about 25%. I was pissed at first, but then I realized that I got off easy. My wife and I are both putting off upgrading our daily drivers in part now due to insurance costs.

@Txcowboy80

7 ай бұрын

Same

@bradhaines3142

7 ай бұрын

thats crazy. i have a 22 highlander hybrid platinum, ended up spending basically 60k on it. my insurance is 150/month, and thats after i had them INCREASE it (it would have totaled at 25k based on what they covered with loan minimum)

You touched on it briefly but the cost of auto body supplies have gone nuts. We were supplying small body shops until about 8 months ago. The price of these materials they have to have went up several fold. We got out of it because our smaller shops were all slowing way down and many closing altogether. I'm glad you pointed out how expensive it is to fix even minor damage on an EV.

As you point out; car manufacturers have a big responsibility for all this. Making cars that are difficult to repair, and then not making parts to be used when a car needs to be repaired. Just another example of the terrible decisions made by automobile manufacturer management

@langhamp8912

7 ай бұрын

Terrible decision making for whom? It's not the manufacturers that end up paying; it's the consumers. And consumers seem perfectly willing to buy these hugely expensive vehicles that seem extremely fragile instead of biking, walking, using a scooter, public transportation, etc...

@kevinbarry71

7 ай бұрын

@@langhamp8912 really? Go look at your local dealership. Lots of these things sitting on sold. Why? Because they pushed everybody too far.

@abel4776

7 ай бұрын

Vote with your wallet, STOP buying new cars, when the 15 yo car works just fine, STOP keeping with the joneses, and watch the market move for US and for THEM. Financing for a collectible or a rare car is acceptable, but a 2005 functioning truck for a 2023 truck is STUPID. Box car that does NOTHING NEW other than haul garbage with heated seats.

@langhamp8912

7 ай бұрын

@@kevinbarry71 And that's perfectly fine by me. Dealerships and manufacturers are free to build the type of vehicle that nets them the most profit, and consumers are free to walk away. It seems to me that the world could use a lot fewer cars and be a much better place. They pollute a lot, get in a lot of wrecks, and seem to be the cause of a lot of Middle Eastern Wars for oil.

@langhamp8912

7 ай бұрын

@@abel4776 You're so close but you just missed it. Why buy a car in the first place? Even a cheap used car absolutely wrecks your finances via insurance, maintenance, gas, and safety.

My wife got in a bad wreck a year ago and totalled her 2017 Mazda CX3. It had 44k miles on it. It was almost exactly 5 years old. We paid $27,200, as I recall. The insurance company paid out approximately $23,400. Under normal circumstances, the CX3 would have been worth about $15,000 after five years with low milage. Insurance companies have been paying out a lot more.

@jlehm

7 ай бұрын

Thank you for being a part of the problem. Teach your wife how to drive, or take away her keys.

I live in Florida and my insurance is through the roof. 3 vehicles and 3 drivers, one driver being 18 I'm paying $800 a month, it was around $400 last year. I'm also back with USAA which I switched to earlier in the year from Progressive. I have a 2011 Raptor, 2015 Dart, and 2008 Accord.

@bryanachee7133

7 ай бұрын

Similar in Louisiana.

@yorsan2240

7 ай бұрын

​@@DontDrinkTheFlavorAidbetter than no car

@yorsan2240

7 ай бұрын

​@@DontDrinkTheFlavorAidbetter than a payment too

@qbanb8582

7 ай бұрын

@@DontDrinkTheFlavorAid I have no issues with it.

@ltcmoose2001

7 ай бұрын

I have been with USAA for over 40 years. My policy went up $65 this August for my 2014 Charger and my 2021 Jeep with 500 deductible for collision and 300/500 liability in MA. The total premium for the year was $1900. Then I minus the subscriber account December check last week for $250 the premium was $1650 for the year. I asked USAA in August what it would cost me to insure those to cars in FLA north of Tampa. USAA told me that I would cost $2200 more a year. So FLA is not great as it once was.

In Ohio, our plan went up 40% on 2 cars to cover to senior owners with no accidents. Had a broker shop the coverage. Stayed neutral with a higher deductible with a different carrier.

I have a 2022 corolla hybrid, I was paying 79.00 a month, I increased some the amount of coverage in the policy and now its 130.00 a month with state farm in California. I have been with them all my life.

We are legally required to buy insurance but the insurance business is not monitored for fraud and waste in service to customers. Politicians pocket bribes and citizens suffer high insurance premiums. At this point insurance is no longer worth it. Insurance companies use fear to keep the status quo. The legal system is on board for fleecing the citizens.

@The_Turd_Ferguson

7 ай бұрын

this

The war against cars continues. Gas prices. Repair costs. New car prices. Welcome to 15 minute cities.

@nobodynever7884

7 ай бұрын

So this.

@austinfrazier7325

7 ай бұрын

So true. Cars will be one of the last holdouts. People are going to drive no matter what. What will happen I predict is mass population will drive with no insurance. Really nothing anyone could do at scale to stop that. If everyone in America cancelled their car insurance tomorrow what would happen?

I just bought my 911 a month and a half ago so I dont have anything to compare it to, but my Hagerty policy is about $200 a month. I have roadside and all the goodies, including agreed value of $65k in Florida

Here in central NJ, I have decent (not minimums) liability only policy. I'm 62 with a clean record. Liberty Mutual charges me $970 per year, yes year. I got a letter from them stating they were asking for a thirty percent increase. It hasn't yet, buy I'm waiting.

@justacinnamonbun8658

7 ай бұрын

I'm in Middlesex County, we have two 2023 vehicles, one is fully paid for, the other is a 2 year lease, both have comp and collision with BI at $100k/$300k. We pay right now $1k every 6 months so $2k a year. Our renewal with GEICO is up in May of 2024 and then they'll hit us with an increase up to 26.3% as per the GEICO email that went out on June 15th of this year, the NJ Department of Banking and Insurance can approve a lower amount though, they may not get the full 26.3%.

@weirdphax5406

2 ай бұрын

ouch

Lucky, I own a small construction company here in Vegas. I own two new RAM 5500 stake-bodies, and a 2003 MACK dump truck. My policy went from $25,000. per year to $130,000. per year. Yes, you read that correctly. Crazy!!

@matt-hew69

7 ай бұрын

You could replace your whole fleet for 130k 😅

My wife's 2020 Durango R/T went up a bunch a in Texas. We were just talking about how it didn't make any sense. She did hit a mailbox a few years ago, but damn.

Thanks to all that ppl that have accidents or dirive ugly, all the other of us need to pay extra in our insurance

The standard of driving has also dropped significantly since the last few years. It's shocking the amount of people I see driving that are heads down in their phones. I've actually heard people say they can safely text and drive at the same time.

@oleradiodudea.m.4735

7 ай бұрын

Immigrants

I was paying $1950/year for a 2015 Volvo V60 with full coverage w/ Progressive (no tickets or claims/accidents for 20 years). I called my broker & they found MUCH better coverage for (full fort vs Lim tort w/ progressive) with $100/250 deductible (comp/collision) where before I was at $500/$1000 (comp/collision w/ progressive). I ended up paying $795/year for the new coverage & they added roadside, higher personal injujury/inablity to work amount (3x higher) among other better coverage. My agent said Progressive is usually one of the most expensive & they are trying to "get away from covering HIGH RISK drivers" even though I'm almost 45yrs old...

I live on Long Island have have a small "jalopy" fleet. 3 cars on "regular" insurance, and 3 on Hagerty. 300K liability each "regular" car is $1,000/year (total $3,000 Travelers ins.). All three Hagerty vehicles total $1,000 year (BMW M-Roadster, old diesel Benz, Jeep CJ). Very little change recently. Clean driving record, 800+ credit.

Alaska here. My USAA rate increased from 180/mo to 285/mo on a 2018 WRX, and they would randomly ask me for double payments due to me being “high risk” as my credit score lowered. I told them them to kick sand this month and started bundling insurance with a family member. USAA can go to hell for treating me like a criminal and kicking me when I was already down. Not going to forget it.

@TioMogi

7 ай бұрын

Used to get the best auto insurance rates via USAA back in the early '10s. Now they aren't nearly as competitive..

@krzzzy19

7 ай бұрын

That's how it works. Low credit score is higher risk.

@langhamp8912

7 ай бұрын

@@krzzzy19 Forbes did an article on credit scores and insurance risk; a poor credit score increases premiums more than a speeding ticket (21%), wreck (41%), or DUI (74%). A lower credit score increases insurance by about 76%. And crash data does support about a 76% increase in damages compared to a high credit driver. However, the biggest predictor of crashing is...your covid vaccination status! The unvaccinated are 80% more likely to wreck than the vaccinated. It's not actually factored into your insurance, of course, but apparently the stupidity required to believe in conspiracy theories translates very well into making poor driving decisions.

@stegoeggo

7 ай бұрын

@@krzzzy19 this was outside of a policy renewal or quote, and I hadn't missed a payment or done anything wrong. It was predatory, disgusting, and possibly illegal.

My rate went up by $26 a month so not as bad. My insurance is also pretty cheap compared to other people like at $130ish now with the rate increase. Thought about contacting other insurance companies but ultimately might just go ahead and renew the current one since I've been hearing from others that other companies have similar rates.

Love your videos, Lucky. Keep up the good work. I live in Florida and my auto insurance has increased $600 in the past year. No claims, no accidents, no tickets. It's BS.

@criminal268

5 ай бұрын

I own 2017 wrx, sti I was paying 185 monthly full coverage. I just got letter from century this week saying they going rise insurance to 450 month I'm shock and confused

Maybe the increase is because there's now a higher chance you could get in a fender bender with an EV that costs $50K to repair.

@tqlla

7 ай бұрын

Cars with excessive repair cost should pay extra to cover themselves. Why should everyone be stuk with higher rates because someones Rivian is designed poorly?

@shoobidyboop8634

7 ай бұрын

@@tqlla If you're at fault, you pay for the other guy's repairs.

@tqlla

7 ай бұрын

@@shoobidyboop8634 you are paying, I am paying, we are all paying because of there are too many of these poorly designed cars on the streets. How is that fair? Cars with excessive repairs should have to pay for extra coverage to cover that excess.

@shoobidyboop8634

7 ай бұрын

@@tqlla I'm sure they do, for the fact that they're sometimes at fault. But they not always at fault, which means everyone else, via the risk pool, must pay more.

@tqlla

7 ай бұрын

@@shoobidyboop8634 My point is, why should everyone have to pay more, because some people are driving poorly designed cars? Those cars insurance should be responsible for any excessive repair costs, because they are choosing to drive poorly designed cars. Example, if the average car costs $1500 in a rear quarter panel collision, and a Rivian costs $40000 to repair similar damage, the Rivian owner should have to pay higher insurance for a car thats excessively expensive to repair. And that insurance should kick in, even when they are not at fault.

Yeah it’s crazy!! I’m out here getting quotes higher than car notes for a sports car in Atlanta

@alexapexgod4643

7 ай бұрын

Shit I’m getting that for a 9k car 10k a year and the car is not even worth that much

You touched on it but I think that fraud is becoming very common for people upside down on their car loans or who can’t afford their lease payments. I buy and repair salvage title cars to drive and resell and in more cases than I’m comfortable admitting, there isn’t really anything wrong with the (nearly new) car. Or the problems are minor, easily remedied, and obviously intentionally caused.

I live in Michigan and pay $180 a month, full coverage for two vehicles and a 17 year old on my policy. I go through AAA. You can build the policy they way you want to save money!

I went through Costco in California. We have a BMW and Mercedes and pay $130 a month for full coverage. We are also 57 years old with good driving records.

Mine didn't double, but it was a significant increase. We were paying $4180 per year in November for a 2024 Kia Forte GT, 2023 Ram 1500 classic, and a 2022 Kia Soul LX. In December it went up to $4,860 per year. I asked my insurance lady why? She just said everyone went up. I live in Ohio.

My 1997 Jeep Wrangler TJ before the “pandemic years” use to be $17 a month to insure (liability only).. now its $33 a month (liability only) smh!

Mine went up about 25%. 3 cars, 1 motorcycle, and home insurance. Reno is still a lot cheaper than Vegas, but people do drive a lot slower here.

I'm a contractor in south florida. I had my work truck and personal vehicle on the same policy with allstate with top tier coverage. No claims in the past few years. It was a little over 600 a month and when I went ro go renew this year allstate actually declined. And referred me to a partner that wanted over 1200 for a half the coverage.

About the same in New Hampshire. Of course, insurance is not mandatory here. Until you have your first accident you can't pay for. I've also heard that if your at fault, your driving privileges are suspended until you pay up.

both my car and homeowners went up about 20% this year

@weirdphax5406

2 ай бұрын

screwing over the middle class

Definitely feeling this in Vegas. I drive a 2020 Miata, no accidents or speeding tickets. Full coverage used to cost me about 480$ every 6 months, and now it's just under 1000$ every 6 months. Yeesh.

@LuckyLopez777

7 ай бұрын

$$$)

@JamesCook76131

7 ай бұрын

@@TheRealCatofexactly, I pay 500 a month for my 7 series. These people are delusional if they think that’s expensive. When I had commercial insurance, I paid 1k a month

I’m leaving Las Vegas tonight after a couple weeks of business in Indian Springs. Drivers here are agressive and speed quite a bit but not too bad compared to any large city.

4 Vehicles. 2011 F-250 full coverage, 2008 sts cad liability only, 2001 Ford Ranger liability only, custom cargo/toy hauler trailer full coverage. $285 every quarter or $95 a month for all 4 vehicles. Live in the great state of Tennessee. I'm 70, wife 72.

I currently pay $155 per month for an `06 Outback & a `13 500 Abarth. I'm closer to 40 than 30 with no accidents, in FL! Now it didn't double but it was $115 in 2020, for me insurance should be going down or at the very least staying the same.

Hi Lucky! Love your channel, and great content. I live in San Antonio, TX, have a 2022 Lexus RX450, and a 2022 Honda CRV Touring. We both have perfect driving records and perfect credit scores. I was paying $2400 per year for full coverage, then last month my renewal came through at $4400 per year. I dropped that carrier. My Agent shopped me hard and I had to increase my deductibles to $2000 and had to settle for $2900 per year. Not happy for course.

@JamesCook76131

7 ай бұрын

That’s pretty normal, we have half a million in coverage on our 7 series, 5600 a year. Most carriers try charging us 7800-8500 a year with a 250 deductible

@handleyobusiness

7 ай бұрын

I can’t imagine those ridiculous insurance rates on top of those car payments.

Those prices are insane 😮, I’m glad State Farm only charges me $220/4 vehicles+hospital income insurance in WA state

My Nationwide car insurance just went up 50%. No accidents or claims. SW Ohio.

@DJLOKOLOKO-do3pg

5 ай бұрын

Same ,now i pay 60 dollars extra monthly

@weirdphax5406

2 ай бұрын

sorry bro, that sux

So I don’t get this when the insurance companies we’re making record amounts of money and they did not lower rates whatever happened to all that money why are they now all of a sudden trying to raise rates

My car insurance policy renews in February and my policy is increasing by nearly $1,000. No accidents, no tickets, no nothing but it’s going up by a whole lot. They explained it’s an industry wide increase and when I called the competitors their prices were even higher. Its craziness.

I’m in New Orleans and a relatively new driver but for full coverage for a 2020 Chevrolet Malibu was 550$ with USAA and 650$ for progressive, shits insane…

Good explanation, thanks. At the end of the day, insurance is paying a third party to take a risk that you don't want to be responsible for. When insurance costs increase, premiums will eventually rise.

I have 500k liability wirh full coverage on a 2014 lexus gx. About 100 bucks a month in NH. That smart car insurance is spicy 🔥

I’m covered under our commercial policy. But my friends personal coverage doubled… he cancelled his insurance that day he found out his insurance literally doubled. Luckily we live in a state that doesn’t require insurance.

Im up 20% this year on a. new car state farm, over my last more expensive car. New York. I think besides the normal corporate greed, theres a hell of a lot of uninsured people and insurance fraud going on.

In Wisconsin, we just got hit with a 63% across the board increase. I drive a 2005 diesel Jetta, my wife has a 2021 Rav4. Also a '97 GMC plow truck and a 2000 jeep XJ. All went up the same percentage.

I live inn deep east Texas. I have a 2000 GMC Sierra 1500 with liability insurance and a 2005 Mercedes SL65 with full coverage. $1500 for 6 months, up 50% in the last 2 years. Homeowners insurance has doubled in the last 2 years.

62 driving a 2021 Subaru Outback XT in the Memphis metro area (the burbs). My rates for full coverage with USAA are barely over a $100 a month. I do use the app that monitors for cell phone handling and calling while driving and harsh braking to get a discount. That has likely offset the increases.

In NJ. Have 3 cars and 4 people under one policy. Used to pay 1800 per 6 mo with GEICO. Unfortunately we got into 2 different accidents this year. They tried to raise to over 5000 per 6 mo. Shopped around and found many companies wouldn't even take my zipcode and some wouldn't take me because of the accidents. Eventually found NJM which quoted for 4000 per year. Maybe they'll raise rates later too but for now that's the best I can do. Pre-covid we also had an accident hitting a pole and the whole front bumper + washer fluid tank had to be replaced. Paid $900 out of pocket and didn't make a claim to insurance. The same car same repair (hit and run by someone else swerving into me, causing a similar dent into the bumper - and the other party didn't have insurance) now cost over 3000. Part of it has to do with "insurance quality repair" for sure. For example the headlight only got some minor scuff on it, but the price included a full headlight replacement. Got knows if they actually replaced the headlight or just buffed the scratch out...

I have progressive for 20 years. Yes every car has gone up year after year since the last 2 years in Phoenix. I have higher liability protection. I pay about $233 a month on each vehicle. I own a 2024 Toyota Tundra 4x4 crewmax and a 2024 mustang gt. I guess it is what it is lol.

I do see the insurance industry CYA kicking in. I live near Pottstown, PA. 19464. Car policy is $1910/ year and has Full Tort included. Rates have increased $200 per year. 2013 Mercedes E350 Coupe, 2015 Chev Sonic RS, and 2015 Jeep GC Hemi.

Terrible here in NY, own two minivans (12 & 17)...policy spiked from $804.00 for 6 months to $1150.00!

2019 Toyota rav 4 hybrid. It's actually gone down a bit where I live in Maryland

I moved from NC to SC last year, I moved only 1.5hr from my old house. At the time in NC I have 4 older vehicles (05 f250, 05 e150, 03 Lexus, 05 Acura) as only driver with good record and I paid less than $195 for all 4 cars with full coverage with State Farm and $0 to $500 deductibles. After moving to SC my rate went to over $880 for the same coverage! I spoke with State Farm and looked at every other company. I now have liability only on all my cars and I now pay $220month. My quote to move to Georgia is even higher for no coverage at all. I am a Body tech by trade, so a few thing I see are the fact that almost seemingly minor accidents can cost $10k plus easily. We have 6 body techs and most repairs are in the couple thousand to $40k + in repairs. Some tail lights on ford trucks cost $1000+ alone. Most higher end cars with LED lights to replace 1 headlamp assembly can cost $2000+ just for the part on a common F150. It’s also very easy for insurance companies to DENY claim responsibility. If you ever get in any accident, get a police report

I live in Arizona I had progressive for over 10 years clean driving record and great credit and my rates kept going up. I canceled a few months ago and went with Geico.

Based in Toronto, Canada, with a MB S, a GLE, and an E coupe, no claims and tickets before, I pay around C$480/month with full coverage with help from a local broker. Before my renewal last year, TD insurance charged me C$650/month and wanted to raised to C$880/month with basic liability for C$2M if I agreed. I'm happy I now have full coverage with even a lower price.

My insurance hasn't changed in a long time. I only have the Toyota, that I bought before car prices went crazy, which is easy to get parts for. I keep hearing about collision repairs that take weeks, maybe months. That can't be inexpensive.

the people that cause accidents should pay the higher insurance premiums... and like those with a D.U.I. they should have to pay to attend a class to get their license back ...

Great very accurate and informative video, the best i have viewed on You Tube. Keep up the great reports. I live in Wa St., and my recent 6 mo auto policy increased by approximately 40%.

Raise your deductibles as high as possible and treat your car insurance as if it were a major medical policy. Never use it unless you have a loss that would destroy you financially. Pay for your own towing, windshield chip repairs and windshield replacement. Listen carefully ……….EVERY TIME YOU USE YOUR POLICY, AT FAULT OR NOT, YOUR PREMIUMS ARE AFFECTED. Towing, uninsured motorists claim, windshield repair / replacement, emergency roadside assistance………ALL will affect your premiums.

Here in WI I’ve got State Farm and am paying around $20 a month for liability on a 05 CTS-V. Yes, $20/month for a 6 speed mt with the 5.7L corvette engine. Can’t complain

I live in Las Vegas as well and my rates are unchanged for a large SUV. You literally made me panic and go check my autopay as my policy just renewed itself last month. It maybe went up ~$20/month if that.

The wife and I are over 70 and our insurance goes up every year. We are paying about $225 a month for 2 older vehicles with Progressive. I am going to shop it in a few months.

In sitting at 600ish a mo for two diesel trucks two model Xs and a Bimmer suv. My homeowners insurance is what skyrocketed. Tripled in 4 years, no claims in sight.

My 2015 JEEP SRT was $290 with GEICO. It’s up to $300 with discounts included. My 2016 HELLCAT CHARGER was $315 a month with GEICO. My 2024 Cadillac Lyriq will be $415 a month with GEICO.

In Maryland. I’m insured with USAA and was about to give them a call since my insurance premium has gone through the roof. I now understand why, but, don’t think it reasonable.

I was being good and paid off my car a few years early in Florida and was hit with a 40% increase in insurance a couple months later

Great video! At the end of the day insurance companies are for profit corporations. Because of the reasons you listed they aren’t making a profit and everyone is seeing a rate increase across the country. The major carriers I work with are estimating we’ll see changes to this in Q1 or Q2 of 2025. Fingers crossed it’s sooner!

Bought an RSX in 2015 for $6,000 … After someone totaled my car I got paid out $10,700 . I was VERY surprised

Thank you for your video. Did you get a feel for or a hint if insurance companies actually lose money or if they just make less profit? There is a diffence there.

Vehicles that are exclusively expensive to repair should cost the owners more in insurance not the other vehicle owners. We are already subsidizing electric vehicles when they are built we shouldn’t have to subsidize them when they are repaired. Also, I have never understood why car insurance should pay for medical costs from an accident. What’s the point of regular health insurance?

My insurance went from $250 to almost $460 a month in few years. I didn’t had a single claim. I tried to shop around and other insurance were actually more expensive for less coverage

cant wait for my next renewal due in april. BRACE!!! im already crying. mine doubled in the past 15 months. in november (last month) i sold another vehicle. cancelled the tags and dropped the insurance. no way i was paying 150$ a month liability only on a vehicle worth 6k ( i sold it for 5500 fyi) at this point. if this trend continues i'll just keep selling my collection or ground it and have 1 road legal vehicle... i dont like being robbed and this is exactly what this is becoming.

I’m driving a 2013 Honda Fit, I bought it brand new and was paying $163 monthly for insurance. It’s been 10 years and now I’m paying $190 for a 10 year old car. I live in Las Vegas. 😂

I've posted before, my insurance for my corolla is 100 a month, and my crv was hit twice last month, and both drivers fled and filed a claim against my insurance. I hope it doesn't go up much, but I'm paying 175 a month on the crv. I dash with the corolla.

My insurance didn't raise the prices on my current cars, a 2022 Ram and 2023 QX60...yet... But I added a 20k 2022 Nissan Kicks a few days ago and it cost as much as those two combined....😢

So I'm in Los Angeles. I'm driving a 2015 Dodge Challenger. My insurance is 179.00 a month. I decided to shop around and all the other insurance companies said I would have to pay $600 a month if I want a new policy with a new company. I'm staying with my old company.

Cost of repair is no joke. I replaced my alternator about 6 or 7 years ago on my charger, its a base model nothing special. It was $280 for the part. just this last week I was having alternator issues again. That same alternator cost $800 now, (none of that cost was labor, just parts)

DFW TX, I traded a 20 fit ex in Aug. I was paying 185 a month for full coverage. I wanted a 23 Accird ex. My insurance would go up 445 for that 6 months. A civic was 440 more. The lowest increase was the HRV EXL at 235. I got the HRV. I just got my renewal. It went up to 243 a month.

@cn0503

7 ай бұрын

That was smart. Not many people do homework for insurance before they buy a car. Big surprise slaps on the face

GEICO increased my insurance in Florida on my 2015 Audi A5 to 400/month. Clean driver record.

I use AAA in Vegas, my rate is locked in for life based on my high credit score. I live in the SW part of town with $500 deductible. $123 a month for a corvette, 100k-300k policy.

@LuckyLopez777

7 ай бұрын

Nice

Glad we have USAA. nothing near the increases stated below.

I am an insurance agent and he’s correct about almost everything in this video. He’s incorrect about premiums going down in the future. My company lost over 5 billion in 2022 in our auto company and we’re still not profitable in most states. Our local body shops went up slightly over 40% last year and the factor negatively affecting rates the most………Lawyers. The second poorest state on the US, Louisiana has the country’s highest premiums. Louisiana has stupid insurance laws. The only group of people benefiting from the higher premiums…….insurance agents. Not the actual insurance companies. I’m telling you, I may be making more money, but the grief my team and I get daily is crazy.

I’m in the LA area .The insurance company was redline for rates now they are charging by the mileage you drive . Don’t matter where you live either or good driving record. My premium increases 20% every renewal! Yikes!

Hey man, thanks for putting all that into perspective.

2 years ago my insurance premium was $490 for 6 months. 6 months ago it was $520. I got my latest statement yesterday $667. I haven't had an accident, ticket or interaction with a police officer sense 2002.

Yes, insurance is designed to cover your vehicle but most importantly, cover your liability to others. Cost of insurance is moreso based on your “insurance score”. Much like a credit score. Insurance companies are attempting to calculate your level of risk. In other words, what are the chances you’ll cause physical damage and/or bodily injury to others? This is why sometimes you’ll pay a disproportionate amount for insurance compared to the value of your vehicle.

I live in Calif. (Barstow) My full coverage with USAA on my 3-year-old Lincoln is $440 for 6 months, USAA is the only insurance I trust, and Farmers is the worst.

I’ve been an insurance adjuster for almost 15 years. Besides inflation and such, rates are going up because values of claims (like a bodily injury claim) are skyrocketing b/c of so many nuclear verdicts (verdicts that shock the conscience).

What they don't tell you is how much money the insurance industry has lost on the bonds market. Buying low interest bonds which were paying 1 or 2% meant the bonds became worth about half what they previously were before the interest rates rises. Of course if you hold the bond to term you do get all your money back, but some of these are 30 year terms and won't mature for a long time. Basically they are making customers pay for their own poor investment strategy and because we don't get a choice they can get away with it.

In Florida Home, Car, Boat, RV, Health, Dental, or any insurance doubled if not quadrupled in the last 3 years.