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Info Seeker
Posts: 1
Registered: ‎11-18-2012

Re: 28% increase in The Hartford auto insurance premiums

Message 1 of 8 (1,272 Views)

I had my Hartford through Costco and saw that type of raise..I live in Mich and was told they raised the premium do to natural disasters.

My medcap ins. also went up 30%..

 Drug prices went up.

Nothing goes up 10.00 anymore. .

Info Seeker
Posts: 1
Registered: ‎10-02-2014

Re: 28% increase in The Hartford auto insurance premiums

Message 2 of 8 (1,496 Views)

I was just getting ready to swich from my auto insurance company i have now to Hartford. After reading these comments i changed my mind. I wil stay were i  am and just pay it , and keep my mouth shut.

Info Seeker
Posts: 1
Registered: ‎08-10-2017

Re: 28% increase in The Hartford auto insurance premiums

Message 3 of 8 (1,594 Views)

Try close to 300%. I had full coverage insurance through The Hartford on a motorhome last year for $290 +/- and was just quoted $1100 +/- for a similar motorhome. I have since received a quote elsewhere for better coverage for $430, $392 if I pay in full. These are all yearly premiums. I am beginning to regret paying for a 5 year renewal for AARP since I haven't saved anything on insurance or motels lately. I always reserve motels online and never have to prove AARP membership. <wink, wink

Info Seeker
Posts: 1
Registered: ‎07-21-2017

Re: 28% increase in The Hartford auto insurance premiums

Message 4 of 8 (1,868 Views)

Wow. I just joined AARP because I heard Hartford had good, reasonable priced auto insurance. I've had Nationwide since early 80's, but they just greatly increased my premium; my story is similar to these folks experience with Hartford.  For sure I don't want to switch to Hartford. But perhaps AARP is still worthwhile as this discussion has really helped. Thanks.

Info Seeker
Posts: 1
Registered: ‎07-14-2017

Re: 28% increase in The Hartford auto insurance premiums

Message 5 of 8 (2,083 Views)
our rates nearly doubled, no tickets, no accidents, retired, recreational driving only. 2 cars, we were paying $2000/yr. raised to $3700. We are X out.
Info Seeker
Posts: 2
Registered: ‎02-25-2016

Re: 28% increase in The Hartford auto insurance premiums

Message 6 of 8 (2,899 Views)

Thanks for your response. Agreed, however other insurance companies servicing this area face the same driving population and their rates do not appear to have similarly increased.

 

This strategy is not my supposition but what a trusted insurance professional has explained to us.

Trusted Social Butterfly
Posts: 7,098
Registered: ‎02-14-2008

Re: 28% increase in The Hartford auto insurance premiums

Message 7 of 8 (2,907 Views)

"...our Agent tells us that The Hartford has decided to increase their rates across the tri-county area in south Florida. Our renewal policy increased $690 annually. This, in spite of our clear driving record...".

 

You do realize your rates are largely based on the 'loss experience' for the company in a given geographical area. It matters little how good a driver you are. The rates are determines by how bad everyone else is.  I looked up crash stats for Florida. I couldn't believe the percentage increases.  Broward is up almost 11%. Other southern counties, not so much, but still significant.


Just think. The world was built by the lowest bidder.
Info Seeker
Posts: 2
Registered: ‎02-25-2016

28% increase in The Hartford auto insurance premiums

Message 8 of 8 (2,914 Views)

Over the past year we have had our auto insurance through AARP and the Hartford, paying $2,497 for two vehicles. It is renewal time and our Agent tells us that The Hartford has decided to increase their rates across the tri-county area in south Florida. Our renewal policy increased $690 annually. This, in spite of our clear driving record.

 

My agent also tells us that it is a strategy the company has taken to reduce risk. They know that X% will drop them and switch to another company. They also know that Y% will continue with them and pay the higher rate, offsetting the lost revenue. So the insurance company, in the end, is able to maintain revenue with a smaller customer base and thus reduce their exposure to risk. Great plan for the company unless the value of X turns out greater than expected.

 

Although I think the Hartford is a top notch company I am one of the X's and am switching to another well regarded company with similar coverage, including accident forgiveness, paying slightly less than I did in 2016.

 

I share this in the interest of increasing awareness and motivating AARP to address this with the company and, if that doesn't happen, possibly making "X" greater than anticipated for companies that do this.