Hi all. So this month my auto insurance bill went up by $40/month, an increase of about 26%. There have been no changes at all as far as coverages, deductibles, driving history, covered vehicles/drives, etc. It just went up out of the blue.
So I called the insurance company and after 30 minutes of hemming and hawing and transfers and holds, the woman starts telling my that the insurance company lost however many tens of millions of dollars last year and however many the year before that, so in order to compensate for their losses there were rate increases in my area.
Is this normal? 26% seems like a HUGE increase, especially for a model customer with no late payments, no claims, no lapse in coverage, etc etc. Whats more irritating is there was no communication regarding the rate change so it was a complete surprise.
Has anyone dealt with something like this before? Is such a drastic and unexpected change normal? Do I have any options besides jumping ship? If I decide to shop around, does anyone have any good recommendations? Thanks all in advance.
Submitted November 08, 2018 at 10:23AM by sirreldar https://ift.tt/2SURCm9
