Auto insurance has been skyrocketing across the country, and California drivers need to brace for an even bigger jump by the end of the year, according to an online insurance broker.
Insurify, which offers auto, home and other insurance products online, has released a study that finds the average automobile insurance rate nationwide has increased 15% in the first half of the year and predicts rates will continue to climb, reaching 22% by the end of this year.
It only gets worse for California drivers. Insurify's study expects rates in the Golden State to jump by 54%, more than double the national average.
Geee, it couldn't be from all those illegal bastards driving with no insurance.
ReplyDeleteAwesome!
ReplyDeleteAesome!
That's what we Kalifornians voted for: everything so expensive that only the elite we voted for can afford to live here.
it is all another pyramid scam fartblossums
ReplyDeleteyall got family in this business 20+ years ?? ask them..
stay safe knuckledraggers
The price of stuff is forever going up
ReplyDeleteNo, the US$ is being printed away and depreciating by our gubmint
DeleteWorse than inflation is deflation. During deflation there is no point in buying anything other than what you need right now since it will be cheaper if you wait; ripple that through the economy and it turns ugly quickly.
DeleteThose that stare at the navel and think about such things (a group I generally distrust) thinks that 2% inflation is about ideal. Enough to avoid the risk of deflation, but low enough to manage.
Anonymous 5:25 is completely correct. Huge government budget deficits and the subsequent inflating of the money supply is causing the rampant inflation. My standard of living has not recovered from Bidenomics.
My. Pickup insurance covers by law both uninsured and under insured motorists. I'm considering joining that demographic. Insurance on the harley is 107 a year through GEICO.
ReplyDeleteHave you checked with Allstate, I always got my best rate for policy through them
DeleteJD
A couple of years ago the dumbasses even approved a tax increase on gas...fucking idiots !
ReplyDelete"The Dumbasses"... You're too kind.
DeleteBut then there's the 'fact' that the twelve-cent increase allowed our brave first responders to arrive at accident scenes quicker because the roads were so much improved because of the increase in the gas tax. That's what some actor in a turnout coat told them in an ad on TV, and that's what the Dumbasses believed.
You can't fix stupid, which most Californians are stuck on.
Another factor in insurance costs is the high cost of repairs/replacement of electric vehicles. They are significantly both more expensive to repair and easier to total.
ReplyDeleteOne of the biggest factors contributing to increased auto insurance is the fact that the auto manufacturing companies are selling usage data to insurance companies. Usage data includes acceleration, braking, and speed data collected from your car during operation. When I found this out, I immediately submitted requests to my auto finance company to limit the amount of collected data that could be sold to third parties. Insurance underwriters can justify charging higher premiums based on your driving habits. Progressive used to offer a plugin component called Snapshot that theoritically would lower your premiums for drivers demonstrating safe driving habits. What many drivers discovered, however, is that the benchmarks identifying safe driving habits are incredibly unrealistic. Deviations above the baseline resulted in higher premiums. Now, standard chip-enabled cars can collect the data without addons, giving auto manufactures the ability to generate addiitonal revenue streams by selling customer data to insurance companies, who can now make more money by increasing premiums. Always follow the money!
ReplyDeleteThat's a long way around the fact that insurance companies are some the most beneficial companies around....financially speaking....
Delete...or own and drive a vehicle that doesn't have a black box in it. Anything before 2014 vintage doesn't have one. Not that the fact your insurance company doesn't have specific data on you is going to stop them from raising your rates along with the rest of the general population.
DeleteThe advent of electric vehicles is one recent cause of the rate rise, since most of them are totaled even with minor damage thanks to the battery being an integral part of the vehicle.
After I got my last car insurance bill, I went back through my records of insurance payments going back five years. My rate increased 4.5% every six months during that period. If I was driving 15K miles a year I'd maybe understand. My last six month oil change I put 800 miles on. My yearly miles has been decreasing every year since I retired.
Nemo
Please tell me the last time an insurance company went out of business
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Vehicle and homeowners insurance is through the roof here as well
ReplyDeleteJD
Another reason for a price increase? The ONLY reason is the State pimping for Insurance companies requiring their product by law. There WAS a time when insurance was not mandatory.
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