Outrageous Insurance Offer 36% mark up

[PowerBugs]

I understand insurance companies are raising their rates this year but raising my insurance to 36% is beyond me.
it is to me a reflection of corporate greed.
I always have continuous insurance.
Had only one claim (2020 no-fault incident with no injuries) in the past 10 years.
Currently for 3 vehicles, one year policy is $28XX.
Now, I got a letter from Farmer’s (my current insurer) that they are not renewing my policy but instead offering me a new one.
This time, it is for six months for $38XX, almost 4K. That’s 36% increase!
Are the numbers pretty average here in California? I know that there are variables but I haven’t moved nor got remarried or divorced nor have new driver’s or new kids or pets, nothing has charged.
My two other vehicles are 10+ years older so I could just get liabilities instead of comprehensive as what I currently have but men, 36% hike is just too much.
Does anybody have better offers out there?

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[moosetags]

That's scary. Ours comes due in January. I wonder what surprise Allstate will have for us, especially since we have recently added the Rivian to our fleet.

Brian

 

[cohall]

If you were paying $2.8K per year, and now you're paying $3.8K every six months, that's way more than a 36% increase.

I strongly suggest shopping around. Nationwide tried to significantly increase my rates for no reason - I switched to CSAA and ended up saving money with better coverage.

 

[VSG]

My last 6-month increase for my R1T was just a little over $1. One dollar. With USAA.

 

[Donald Stanfield]

Yeah it's time to switch companies if they are going to pull that crap.

 

[adv4evr]

I'm with Nationwide in Nevada with the R1T and a Model Y, max coverage and $100 deductible is ~$230/mo. I had Geico in the past which was also good. Cost between both is pretty close. Coverage here seemed to be more expensive in general than in the Bay area but probably due to road conditions and winter driving here in the Sierra Nevada's. Shop around or tell them your leaving. They'll usually come back with better pricing.

 

[Sevn86]

It’s time for you to make that switch.

 

[Oldsmobile_Mike]

Reach out to Rivian and see if you can still get the Rivian insurance (Nationwide)? I live in a crappy part of town where our rates went up after we moved here (because of all the uninsured motorists and hit & runs), but my Riv insurance just renewed and is only $431.30 / 6 months (also have the wife's car and our house through them).

 

[NY_Rob]

Yes, that's outrageous... but so is a $41K repair estimate for a volleyball size dent in a rear quarter panel of an R1T.

Ridiculous sky high repairs being paid for by insurance co's lead to sky high premiums. Until this stops our premiums will continue to skyrocket

 

[jjswan33]

I just renewed my R1T policy (State Farm) for a 3rd time a few days back. No significant increase, ~$750/6mo near Portland OR.

 

[SDH]

This is just the thin end of the wedge. You've seen all the evidence of what would be a small innocuous dent on a ICE car of 5 years ago now resulting in a near write-off for these modern EVs. So when folks say how they're saving on gas money by swapping to an EV, the hand the gives also takes in the form of way higher insurance.

 

[electruck]

Outside of general insurance changes negatively impacting CA and FL, Farmers doesn't want to insure Rivians. I'm in TX and when I got my R1S back in March, I switched from Farmers to Rivian/Nationwide because the Farmers quote was so ridiculous.

 

[kozak79]

Geico in NJ, renewal a couple of months ago went from $405/6months to $446/6months...

 

[SolartoEV]

6 months for 2022 Rivian R1T, $500 deductible, $573.34, married, no accidents in the last 10 years. NY State

 

[Rivdog]

Amica raised mine by about 50% on my first renewal back in May. Very high credit score, no claims, no anything. Am switching back to Liberty Mutual which will cost like 1/3 of what I’m paying now. Insurance companies do crazy stuff sometimes.

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