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Old March 19th, 2012, 07:51 PM   #1
Fatty Matty
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Default Drastic insurance rate increases? Why?

I've had my house insured through Farm Bureau for the past ten years. I've always been around $600.

My renewal comes in the mail last week and they raise me to $1049...No claims, no changes of any sort and no decrease in my credit score. Not even a day later my Farm Bureau guy calls me and tells me he isn't with them anymore. I asked him about the increase and he said that's what they've been doing, money issues, firing agents, etc. Anyway, he's an independent now and got me back down to where I was and also got my car insurance down some more.

What's the reasoning behind this? Is it a cash grab with the thinking that people aren't going to notice, or a play on loyalty thinking that I'll be fine with it since I've stuck around that long?

Rational thinking would be that the guy that always pays and never makes a claim would be a regular paycheck, so why fukc that up by asking for more without justification?
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Old March 19th, 2012, 07:58 PM   #2
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Ask sweet Leah I think it is, she seems to know insurance really well.
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Old March 19th, 2012, 08:36 PM   #3
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They do it because they can.




I don't see why car insurance isn't driver insurance. You get a policy that covers PL/PD on whatever you drive- even if it's not your car- and then collision, theft, etc. on the vehicle if you want. You can only drive ONE car, so having PL'PD coverage to sit in the garage is a waste.
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Old March 19th, 2012, 08:41 PM   #4
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They do it because they can.




I don't see why car insurance isn't driver insurance. You get a policy that covers PL/PD on whatever you drive- even if it's not your car- and then collision, theft, etc. on the vehicle if you want. You can only drive ONE car, so having PL'PD coverage to sit in the garage is a waste.
never thought about that...that is not a bad idea
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Old March 19th, 2012, 08:45 PM   #5
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Ask sweet Leah I think it is, she seems to know insurance really well.
i asked her something about car insurance and she never got back with me....so she might not be helpful...

but never hurts to ask.
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Old March 19th, 2012, 08:46 PM   #6
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Last week saw news and thought it bs.
http://www.clickondetroit.com/news/C...z/-/index.html


Email to my insurance manager. Got this.

Yes, the predictors are expecting the rates for car insurance in MI to go up several percentage points in the near future. Unfortunately.
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Old March 19th, 2012, 09:01 PM   #7
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Same thing happened to me with my auto/bike insurance.

The whole MCCA thing really pisses me off - write your legislator about it and see what kind of response you get. If you're like me, you get nothing. Auto insurance as a whole in this state is a scam.

But...I don't think my home owner's insurance has increased in rates. Anything bad happen around you in surrounding homes? Thefts in the area?
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Old March 19th, 2012, 09:09 PM   #8
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Ask sweet Leah I think it is, she seems to know insurance really well.
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i asked her something about car insurance and she never got back with me....so she might not be helpful...

but never hurts to ask.
She's been super busy the last few weeks at work. So if you've asked her during that time period that's probably why.
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Old March 19th, 2012, 10:50 PM   #9
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Same thing happened to me with my auto/bike insurance.

But...I don't think my home owner's insurance has increased in rates. Anything bad happen around you in surrounding homes? Thefts in the area?
Nothing going on around here at all...absolutely nothing. Nothing to warrant any sort of major increase. I could see if I got caught cooking meth or they found out my basement was a rape parlor. Even my credit score is higher than it was last year.

I can see them doing it "because they can", and they generally do...but its usually a little here or there. Not almost double at once. Regular business sense says that it's cheaper to retain an existing customer than to find new ones. My only cost to them has been the statement they mail once a year. No loss on my end since my renewal doesn't take effect yet, and I'll be with somebody else.

Now....if it were a smaller increase I would have called up to see why....but for $450 they can forget it.

My car insurance rates have stayed pretty static for awhile, but I reshop that at least once a year.
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Old March 20th, 2012, 06:06 AM   #10
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Old March 20th, 2012, 06:44 AM   #11
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my homeowners through homeowners insurance Co. jumped $400 this year. I've been with them for almost 13 years now. i called to ask wtf and the answer was everybody's rates are increasing this year, they have no control over it. i will be looking for a new policy this week.
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Old March 20th, 2012, 06:54 AM   #12
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Ours just took a jump up last week also.
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Old March 20th, 2012, 06:55 AM   #13
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Ours jumped also. Went looking for a new policy with better rates, only to find no one could beat what we currently have.
"Every ones went up" seems to be the new saying everytime I call.
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Old March 20th, 2012, 07:51 AM   #14
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shit I'm screwed.

1 mile from Detroit border = stupid high rates.
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Old March 20th, 2012, 08:07 AM   #15
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crap I need to have a look at ours now.
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Old March 20th, 2012, 08:56 AM   #16
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I have a lot of info on this subject that would probably be really helpful if you are interested in understand how insurance rating systems work, but, as Ryan said....I am really really really busy at work. I'll be back soon with some details. If you've PM'd me recently with insurance questions--you have not been forgotten, I'll be getting back to you very soon.
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Old March 20th, 2012, 09:09 AM   #17
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Quote:
Originally Posted by chris1044 View Post
Same thing happened to me with my auto/bike insurance.

The whole MCCA thing really pisses me off - write your legislator about it and see what kind of response you get. If you're like me, you get nothing. Auto insurance as a whole in this state is a scam.

But...I don't think my home owner's insurance has increased in rates. Anything bad happen around you in surrounding homes? Thefts in the area?
It's going up again too, another $30/year.

http://www.mlive.com/business/index....e_increas.html
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