topic Re: 28% increase in The Hartford auto insurance premiums in Medicare & Insurance

28% increase in The Hartford auto insurance premiums

mt45338869 — Sat, 25 Feb 2017 18:05:44 GMT

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.

Re: 28% increase in The Hartford auto insurance premiums

retiredtraveler — Sat, 25 Feb 2017 18:18:07 GMT

"...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.

Re: 28% increase in The Hartford auto insurance premiums

mt45338869 — Sat, 25 Feb 2017 18:51:07 GMT

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.

Re: 28% increase in The Hartford auto insurance premiums

k77640f — Fri, 14 Jul 2017 15:51:54 GMT

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.

Re: 28% increase in The Hartford auto insurance premiums

m857373n — Wed, 26 Jul 2017 19:13:46 GMT

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.

Re: 28% increase in The Hartford auto insurance premiums

m379968k — Thu, 10 Aug 2017 23:44:00 GMT

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

Re: 28% increase in The Hartford auto insurance premiums

wm7285 — Wed, 16 Aug 2017 21:32:03 GMT

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.

Re: 28% increase in The Hartford auto insurance premiums

kjcarpenter35 — Wed, 30 Aug 2017 15:52:23 GMT

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. .

Re: 28% increase in The Hartford auto insurance premiums

Russell435 — Fri, 25 May 2018 20:05:04 GMT

Hartford auto premiums up 24 - 31% down here in Georgia. Three vehicles for a total average increase of 26% over last year. No tickets, no accidents, retired, only pleasure driving.

Re: 28% increase in The Hartford auto insurance premiums

MarkettaR531040 — Fri, 29 Jun 2018 12:14:03 GMT

You are just complaining here about the increase of auto insurance company charges in the USA that is not a complete truth. I am living in the UK and I have to cancel my annual insurance due to increment in insurance cost. In this bad situation, I decided to rely on one-day van insurance plan because their cost was effective. All in all, financial system of European countries is needed great improvements.

Re: 28% increase in The Hartford auto insurance premiums

gc58292105 — Fri, 24 Aug 2018 23:12:00 GMT

We're in the same boat. For those of you who switched companies, which ones did you go with?

Re: 28% increase in The Hartford auto insurance premiums

kjcarpenter35 — Fri, 24 Aug 2018 23:55:02 GMT

Yes the first increase 125.00 to 170.00 is when I left. I paid 135.00 and it just increased to 146.00.

I use Esurance.

with all the flooding, hail from storms, fires and earthquakes. I’m surprised it didn’t go higher than 28%.

I don’t know how retirees are going to be able to afford to drive.

i just checked a few insurance companies for quotes and decided to stay where I’m at. I was shocked at the prices. My little bump was nothing.

Good Luck

Re: 28% increase in The Hartford auto insurance premiums

kjcarpenter35 — Sat, 25 Aug 2018 00:01:42 GMT

Check out Esurance. Allstate is it’s parent company. I pay 146.00 and that is after the latest increase. I recently got a few quotes when mine went from 135. To 146. It was staggering to say the least. 146. It’s nothing compared to what I saw.

Re: 28% increase in The Hartford auto insurance premiums

kjcarpenter35 — Sat, 25 Aug 2018 00:05:18 GMT

Check out Esurance

Re: 28% increase in The Hartford auto insurance premiums

tklemen — Sat, 08 Sep 2018 15:46:53 GMT

I've had the same auto insurance coverage for last two years, no accidents or tickets, yet my premium increased by 40.4% in those two years. In the last year alone, it increased by 27.5 %.

AARP should stop recommending Hartford, they are a rip-off!!

Re: 28% increase in The Hartford auto insurance premiums

k77640f — Sat, 08 Sep 2018 17:09:21 GMT

mercury insurance, saved us $800/yr

Re: 28% increase in The Hartford auto insurance premiums

kb5671 — Thu, 13 Sep 2018 09:56:30 GMT

2018-19 CAR INSURANCE PREMIUM UP 7% from last year

60yr old man, no accidents, perfect license, Drive 7000 miles or LESS per year

2002 Kia Sedona NO Collision coverage.

LAST YEAR 11-01-2017 thru 11-01-2018 $843.00

THIS YEAR 11-01-2018 thru 11-01-2019 $903.00 So my cost increase is $60.00 this year. or 7 percent and that is mostly $49.00 of it on Bodily injury liability which went up from 344. to 393.

Re: 28% increase in The Hartford auto insurance premiums

JamesB125640 — Fri, 22 Feb 2019 20:44:48 GMT

I am in New Jersey and the past two years Hartford has quoted us 50% higher than any other

carrier... in some case 100%... as with everyone else we are seniors and our driving records are

good... don't tell me i am paying for everyone else when other companies can insure for less.

I believe Hartford is taking advantage of their loyal base and other seniors who are not as

diligent on getting other prices. I am also tired of receiving AARP flyers stating that their partners

will save them big time over other carriers, Allstate, Geico, etc... this is about kickbacks and nothing more with the Hartford. (p.s. I do have AARP prescription plans)

fyi,

Re: 28% increase in The Hartford auto insurance premiums

moush1 — Sat, 02 Mar 2019 22:50:26 GMT

We've been AARP Hartford Customers for over 10 years (Trumball Insurance Company) and have combined our homeowners policy with the automobiles. All insured have had no automotive tickets, or claims in the past 5 years. We've also all completed the AARP safe driving course.

The statement I just received resulted in an increase of 38% and 29% on two separate vehicles.

After a number of phone calls to get a clear understanding of why the increase was so significant, I received two different answers. One CS rep said it was because there was an incident 9 months previous where another driver ran into the back of our truck while we were stopped, the other driver was ticketed and their insurance covered all. Get this, the CS rep said because there was an incident (regardless of who was at fault) it was "likely" that we would have another incident in the future !! The other answer I got was that the rates in the great state of Illinois and cost of new cars was driving the prices up (my newest car is 11 years old).

Unfortunately my guess is that the logic of the increase is more likely related to their inability to manage their overhead costs with with a declining customer base.

Re: 28% increase in The Hartford auto insurance premiums

tklemen — Sat, 02 Mar 2019 23:41:29 GMT

Yeah, we do all the right things, abide by the law, help our family, friends, and neighbors, and then get punished by greedy corporations. Last year’s tax cuts saved corporations billions of dollars, it saved high earning executives millions to hundreds of thousands of dollars. I got a 6-month early pay increase of 3%, which amounts to about $45 a month. And I got less money back from my 2918 taxes, while my state increased. Sure, I made a tiny amount more during the year, that is without knowing I would owe more at the end of the year.