Auto, Renters Insurance

Why don't you just do a search for insurance plans? 

Hartford has never had the best price in all my years of having auto insurance.

Premium increases to auto and homeowners (and I guess renters too) are being increased for insurers because the cost of [whatever to whichever] has increased dramatically.  Inflation does not just affect the cost of eggs.  Look at the cost of a new car, look at the cost of repairs if the is laden with technology or many extras.

I don’t have Hartford for anything and for my 2025-2026 new premiums, each of my insurance coverages have gone up more than $ 800 each.  So I am (1) talking to my agent about what I can do with the existing policy to still have adequate coverage for myself.  (2) am getting coverage comparable quotes from other insurance companies that are rated highly by AM BEST.

THE PROBLEMS for auto insurance [with whatever insurer]  

• the cost of repairing or replacing has increased,
• more drivers and autos are now out there without coverage or with just ther bear minimum because they have dropped coverage or gone to the minimum. 
• we still age and that has a bearing on your rate too

What can we do here - remember the more risk that you accept on your coverage, the less is on the insurer and thus a lower premium.

• raise your deductible on Collision coverage 
• raise you deductible on Comprehensive coverage 
• make sure that, if applicable, that you get the low miles driven reduction
• review the rest of your coverage and remove what might be fluff if you don’t need it and make sure the liability / collision/ comprehensive /UN and UnderInsured motorist and Medical are at the limits that you need.

That’s pretty much all you can do and still stay properly insured - you need the liability coverage and as much as you can just in case it has to be paid out in injury or property damage or you will just end up getting sued.

Some people have the philosophy that if they have nothing already, what is there to try to protect so they become an UN or UNDER insured motorist.  Then it just ups other people’s premiums under this category of UNDER and UN-INSURED COVERAGE.

For Homeowners - 

Much of your cost is already determined based on the size and age of house and where it is located.  And again, the more risk one accepts on themselves, the less the insurance company is accepting - so INCREASE those deductibles as much as possible.  Make your homeowners (and I guess renters too) a catastrophic coverage and cover other stuff yourself if possible.  You are the one to determine whether you cover some stuff in premiums or in out of pocket cost if the condition occurs like a water leak, or a tree falls over your driveway.  

What can you do to lower homeowners insurance premiums:

• Raise the deductible- if you can - some mortgage companies, if you have a mortgage require a minimum deductible.
• UPgrade your home and let the insurer know that you did it - I am talking about an older home - upgrading your power box and wiring or your plumbing or water system if needed depending on the age of the home
• roofs that are older than 20 -25 years old need to be evaluated for replacement - let the insurer know when you replace it.
• there is nothing the property owner can do about the cost of demolition, labor, construction cost and at the moment that is a huge part of homeowners insurance and we can’t just move it out of harms way.

If anybody else has any suggestions on ideas to lower premiums but yet still remain adequately insured - I am all ears.

Maybe the best thing AARP could do here is to have one of their seminars on this - a Q&A type.  

Hi RoyS995151. I understand how frustrating insurance premium increases are. We'd like to get some more information from you and help you look into this. Visit https://aarp.info/3epCObA to chat, text, or call us. Thanks for being an AARP member. - Brandon C.