Here's why car insurance is going thru the roof (CNBC Video)

[Orange cream shake]

my car is 9 years old. my shyt should be going down if anything since the car is depreciating and worth less and less each year. If I total it 2 years from now, they aren't gonna cut me the same size check that I'd get if I totaled it today.

Nope mine went up and it’s 9 years old With low mileage. im bundled, garage good credit and in a low crime area. And I have that thing that tracks your driving with 5 stars. mine still went up a couple hundred. We are being punished because of others claims. I also noticed a lot of these companies sucker you in with a low premium and then drastically increase it in the second year. I’m tempted to go liability only but my car is still worth a decent amount.

 

[east]

breh bagged himself a nice lil slam ham

 

[Dipsey Doo]

I'm always shopping around when my term is up

 

[Mike Nasty]

.......and the more people that drop insurance, the more the rates will increase for those that still have it.

I think we are starting to see the end up the overpriced car market. Everyone will be driving Honda Fits in a couple years

 

[Remote]

The real reason is because of California. A lot of the big insurance companies are cutting back on servicing California because of the insurance laws there, and the fact that there are so many hit and runs, unlicensed drivers, and ridiculous amounts of insurance fraud there and the police do nothing about it. So companies are scaling back there and making up the difference with us.

Or...

Maybe car insurance companies are just greedy.
Yeah. I think that's the real reason

 

[stepbackj34spud]

We are in the age where the average car note is lower than the average car insurance.

It should against the law to raise your rates for no wrong doing. Credit scores, bullshyt calculations that determine price, etc.

 

[Mordith]

Thank God my credit is A1....

 

[beenz]

Thank God my credit is A1....

my credit is like 820, and they still jacking up the rates on my old car.

 

[Van Cleef]

just moved to florida the amount you have to pay for car insurance is crazy

 

[Batsute]

It’s good thing there’s no high speed rail in the US, we avoided train insurance

 

[ROFL_GUY]

In RENO almost half the cars got no plates.

Cops don't enforce it

 

[jesc07]

I have a 10 year old car and paying about 75/mo in FL. I want a new car but w/ insurance prices...it's like a double car payment. I might just opt for a new paint job or something smh.

 

[Heretic]

Or...

Maybe car insurance companies are just greedy.
Yeah. I think that's the real reason

They are, but it's a real thing...

California's insurance crisis resulting in canceled policies, increased rates. Here's what to know

Amid an ongoing insurance crisis in California, many customers are being dropped by their insurance companies or find themselves paying higher rates.

abc7.com

 

[Remote]

They are, but it's a real thing...

California's insurance crisis resulting in canceled policies, increased rates. Here's what to know

Amid an ongoing insurance crisis in California, many customers are being dropped by their insurance companies or find themselves paying higher rates.

abc7.com

I still say it's bullshyt and greed. But I did read it.
No matter what you do the rates go up.

Crash. Rates go up.
Drive safely. Rates go up.

These people can all go fukk themselves.

 

[daemonova]

@beaniemac

Lapses as well, I had a twenty year gap and they charged me 400 a month and didn't about.

State Farm was building skyscrapers in Atlanta, but they were told no one wants to work in a office anymore. Now they building hotels, make Dunwoody/Sandy Springs into a tourist destination.