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I have insured the same three cars to the same level for a year.
$2,100 for the first six months.
$3,000 for the next six months.
$3,500 for the six months starting in a month.
No tickets.
No claims.
But a 2/3 increase in premiums.
And I am required, by law, to pay for this shit.
That's not precisely true. I am pay for more coverage than is required, but the minimum requirement is useless to replace anything.
I am starting to think that if I just paid the premium to a savings account I could replace a Ferrari in cash based on how often I make a claim on the insurance.
Coincidentally, the full coverage I'd paid on The Precious did not replace Her.
Paying the premiums into a savings account would have.
Hey, Mr Elected Official, why am I required to pay someone to profit off me and not make me whole?
We own four vehicles (3 cars - 1 pick-up) and were also 'legally held up' with premiums going up $800 per year (paid twice a year). Wife also owns three motorcycles which likewise have had their rates boosted. We haven't made a claim for the 4 wheel vehicles in over a decade and have no tickets as well. My wife did have a motorcycle accident which did require minor surgery on her ankle. But that was 3 years ago and premiums remained at the current level back then.
ReplyDeleteDespite the number of vehicles, we still have four hands between the two of us and can only use one vehicle at a time. Why should insurance cover each vehicle separately and not the individual driving it ? Me confused but as you say, the law requires coverage. All are paid off and the newest is a 2018. Uninsured driver also strongly advised. We live near the national border with Mexico and uninsured drivers are prevalent.
I have to wonder - is insurance hedging their bet that new 'vibrants' moving here will have to be covered and will be given this coverage ? More drivers - more accidents.
jrg
Insurance is a racket. Does Florida have a process to self insure? I forget the details but some businesses with fleets post a bond and act as their own car insurance.
ReplyDeleteI know there are certain areas that get lumped together and if costs increase in "your" area, your premiums go up, regardless of your record.
ReplyDeleteI once moved less than 10 miles and my premiums dropped in half because I was now in a different geographic area.
When I got married and added my wife to my policy, when we were splitting a car the premium dropped and when we added a car it went up to what it had been as a single person...
For me it's even more confusing because our cars are on one policy, our motorhome on a second (with a second company) and the motorcycle and side by side on a third...
JH