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Did anyone else just get a huge insurance increase?

My auto insurance just raised the price 50% overnight. It goes into effect in August. I'm used to companies performing regular reviews and doing slight increases, but this is insane, especially at a time when everything is closed and nobody is driving. I can't fathom how they're justifying a hike like this. Accident risk has to be way down and nothing has changed on my end. 

I'm wondering if my company is just being greedy and/or they're out a ton of money because people aren't paying their bills and need to make up for it by raising rates for everyone else. 

Have you guys noticed this?!?

Posted - July 7, 2020
Tags : None

Responses


  • 13277
    Thankfully, I don't own a car. When I want to drive, I use Zipcar, which includes gas and insurance, or Avis.
      July 7, 2020 6:03 PM MDT
    6

  • 10052
    I got a significant credit/refund. 

    Anyone in your family a member of the Armed Forces? If so, you could qualify for USAA membership. Lowest rates with exceptional coverage and service. 
      July 7, 2020 6:28 PM MDT
    4

  • 7939
    I don't qualify but thank you. 
      July 8, 2020 3:10 PM MDT
    3

  • 10052
    Bummer.

    I think I deserve and extra bonus for all the free advertising I give them. 
      July 8, 2020 6:10 PM MDT
    2

  • 13395
    Sometimes crooked insurance people will tell a customer their record shows they've been driving for a long time without an accident, so then that means you must be due for a serious road mishap to occur at any minute now. So therefore it is imperative that we must raise your premiums substantially at this time.
      July 7, 2020 6:45 PM MDT
    4