@JuergS27840 I totally agree. While I've been with AARPHartford for many years now, both home and auto, I am tired of the increases every year! It used to be that when your car got older your insurance went down. This has never happened with Hartford unless I changed my deductibles. It's time to look for a new insurance company.
. . . . I am tired of the increases every year! It used to be that when your car got older your insurance went down.
Think about what auto insurance covers -
If one's OLD car hits a NEW car - the new car may cost upwards of $ 35,000 if is a loss. Repair cost on newer vehicles are also much higher with all the technology included.
Then what if it happens to be one of the new EV - $ 50,000 OR MORE. These cost are rising rapidly right now - even used cars have inflated values currently.
It isn't just about one's own car - it is also about the driver too - the age of the driver brings higher rates as well as where one might live and surrounding area and the amount of traffic. The insurer also take one's credit rating into account also since they are extending one credit for premium cost or if not premium, the deductible if there is an accident involving another.
There is a lot that is covered in auto insurance - Comprehensive, Collision - a person can control these to a certain extent or even drop them because they involve ones' own vehicle. The owner of the vehicle just takes the $$$$ responsibility for their own car.
But liability is a different story - both people and property - is a given and even mandated in most all state - maybe all of them. That's where the cost soar - and it certainly is a good idea not to skimp on the amount of liability coverage - whether within the auto policy or as added protection - an umbrella liability policy that adds to both auto and home liability amounts. Insuring ones self up to what financial damage could be exerted upon them - if there is an accident.
Then there is UNinsured and UNDERinsured motorist - personal and property - just in case such an un/under insured person damages your property or self.
@GailL1 I don't need to think about the costs as I wasn't born yesterday. I am well aware of everything that goes into insurance but it doesn't mean that things weren't expensive in the past and yet my insurance still my went down. I owned many expensive sports cars, had a great driving record as I do now, had a great credit score as I do now, and my insurance premium went down year to year as my cars aged. That is the example that I'm using. The only thing that I will agree with you on is that we are paying extra for the actions of the uninsured and underinsured motorist, which seems to be an unfair way of penalizing good insured drivers.
The only thing that I will agree with you on is that we are paying extra for the actions of the uninsured and underinsured motorist, which seems to be an unfair way of penalizing good insured drivers.
If you are driving an old / older car - the UN/UNDER insured coverage shouldn't be too bad - at least on the property coverage.
It is the liability cost that is sky-rocketing under regular auto coverage as well as the UN/UNDER insured coverage and on any umbrella liability coverage one might have.
Age is that other factor that we can't do anything about - I think 70 is the magic age when cost start to rise and then it keeps on going up.
Don't know where you live but I know where I live that traffic (because of more and more people) is also something that we can't control within our coverage. And it seems that everybody is driving a car that is much younger than mine.
I have removed the collision coverage from my old car (2001 Honda Accord EX) - that helped some - at least it helped balance out somewhat the increase in liability cost that keeps going up.