How much your insurance has increased in the past year?

[Blochead21]

Check out Costco homeowners and auto insurance. Saved me and my wife almost $1,200 a year with no changes to our coverage.

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[PAndaemonium]

Mine went down about $20

 

[Randall Stephens]

Liability limits are 500,000

Gotcha, I think I run the 2 million. I want to be able to retire if something horrible happens and others get hurt.

 

[invertedspear]

I just hate shopping for insurance

Then delegate. Find an independent insurance agent that will do the shopping for you. I'm lucky that my neighbor is in that business, but he just makes his money from commissions the insurance companies pay him, so even if we weren't friends it's still a "free" service for you. He's saved me tons of money and automatically re-shops for me once a year to see if there are any more savings he can find me.

 

[shutterbug]

Insurance should be a non profit service

Wait, What? Do you really expect an insurance company to not make a profit? How would that work?

 

[mefly2]

Check your Lexis Nexis info that is forwarded to insurance companies.

 

[TaxmanHog]

Mine went up $71 attributed to collision & damage to someone else's property coverages, all other elements were unchanged year to year.

 

[RickLightning]

Newsflash - all insurance costs, home and auto, are going up.

 

[TaxmanHog]

Newsflash - all insurance costs, home and auto, are going up.

Definitely, our house insurance went up by a much higher percentage 7.8% than the four vehicle policies which overall went up 1%, but the Lightning was the largest of those at 7.3%

 

[Pioneer74]

Renewed for the year last August. Between the Lightning and the Mach-E, our insurance went down about $20. House went up around $200. Got a new discount because I turn 50. Just about broke even.

 

[invertedspear]

Wait, What? Do you really expect an insurance company to not make a profit? How would that work?

It's easy:

• get rid of shareholders
• Pay people salaries, no bonuses, even the senior management
• In a rolling 5 year period, money not spent on claims is returned to the policy holders.

Yes, initially you would need to be collecting a lot more to stock up for possible disastrous times, which is why a rolling 5 year period. But if you stopped paying dividends to shareholders and ridiculous C-suite bonuses, you'd already be building that and likely wouldn't even need to raise rates.

Expansion (new building and equipment) is an expense, and would not be affected by going non-profit. Non-profits still make money, in some cases the amount is mind boggling. They usually just maintain non-profit status by paying their board of directors giant bonuses.

Also, I do not expect this, it'll never happen, this is just how it could be done. Insurance is a cash cow that is rigged to always win more money for share holders.

 

[Wattsun]

Increase over 25% for me in Northern Virginia. Seems to be a national trend.

Change Companies, Mine dropped 400.00 every 6 months. Fairfax No.Va.

 

[Maxx]

Wait, What? Do you really expect an insurance company to not make a profit? How would that work?

No, I expected it to be a self funded government service. With an initial charter that prevents abuse.

 

[TaxmanHog]

They usually just maintain non-profit status by paying their board of directors giant bonuses.

There's also a form 990-T.

High all mighty PLEASE do not govermentalize this any more than it is ..... imagine another federal / state bureaucracy broader than the oversight process it has already putting it's fingers deeper into daily functional operations.

 

[9onmy6]

Mine has doubled. Same insurance since 1988. Time to look.

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