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Old 02-08-2009, 10:15 AM   #1
paul__chen
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insurance renewal bs



so it's time my car renewal insurance, and the company that my family's been with for 8+ years (which also covers our house as well), jacked up our policy by $300 despite no one in my family getting any tickets/traffic violations or accidents. her reason was due to the 'mortgage/credit crisis'. i was like wtf

legit reason or not? or is it time to switch companies
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Old 02-08-2009, 11:07 AM   #2
Trouble65
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Originally Posted by paul__chen View Post
so it's time my car renewal insurance, and the company that my family's been with for 8+ years (which also covers our house as well), jacked up our policy by $300 despite no one in my family getting any tickets/traffic violations or accidents. her reason was due to the 'mortgage/credit crisis'. i was like wtf

legit reason or not? or is it time to switch companies
Switch companies. Mortgage crisis has nothing to do with you. I hate insurance companies.
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Old 02-08-2009, 11:10 AM   #3
StikiGreenZ
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My premiums rose as well this year; my insurance broker simply switched my policy to another company.
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Old 02-08-2009, 02:24 PM   #4
damameke
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Quote:
Originally Posted by paul__chen View Post
so it's time my car renewal insurance, and the company that my family's been with for 8+ years (which also covers our house as well), jacked up our policy by $300 despite no one in my family getting any tickets/traffic violations or accidents. her reason was due to the 'mortgage/credit crisis'. i was like wtf

legit reason or not? or is it time to switch companies
Legit or not ?? yes

All insurance companies lost money or not making as much as they used to in today's economy... their investments in US bank or another insurance companies are not making the yield or returns and they probably wrote millions of their losses away.....

This gave them A reason to jack up premium across the board..
call and check around or use a broker.

Mine is up for renewal this July and based on what I am seeing, it will probably
go up too; but not going to lose any sleep over this for now.
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Old 02-08-2009, 08:49 PM   #5
Deep 3.2TL
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I've been hunting around as my rates increased by $160 this year. Found cheaper rates, but home insurance rates are RAPING me, so even though I can get a significant amount off of my car, the home is almost DOUBLING what I have now, so only saving about $150 a year. Pure CRAP - Their calculations say it would cost $440K to rebuild my home and that's what it's based on - PURE SHIT!! I can't even sell my house for $440K!!! It was bought 2 years ago at $335K!!!
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Old 02-08-2009, 09:53 PM   #6
damameke
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Deep 3.2TL

When was your house assessment done at $440K, you can probably appeal due to the market situation...

$150 still a saving tho...
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Old 02-08-2009, 11:32 PM   #7
Deep 3.2TL
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3 days ago!!

They aren't budging - they want to charge more for the insurance. I currently pay $35 a month, if I switch to any new company, they want $55-$60 a month.

Yea $150 is a savings, but it would be more like $450 if they weren't hosing on the rates...
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Old 02-09-2009, 11:24 AM   #8
e36_freak
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I'm taking insurance classes to become an adjuster. we were told a few weeks ago that insurance is going to rise 6% across the board, that means auto, home, boat, planes etc.

also wanted to point out that insurance companies are very restricted in what they can invest in about 80% of the insurance premiums must be invested back into the community by way of government bond.
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Old 02-09-2009, 11:45 AM   #9
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I hate insurance companies. Just hate them.
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Old 02-09-2009, 06:22 PM   #10
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I hate insurance companies. Just hate them.
Yup! Insurance companies, Government, Police and Oil Companies.
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