Car insurance increases

[Mathguy]

Originally Posted by lrfox

Insurance companies are squeezing people on both ends. My friend owns a body shop and says that most companies have changed their policies on parts (i.e. no longer requiring OEM parts on newer cars) and they set their own labor rates which are generally lot less than the shop's (the shop eats the difference). He also said they're pushing back harder on estimates than they ever had have in the past. Same adjusters in many cases, but now with instructions to dispute more of the initial estimate.

So, you want them to pay more in claim costs and raise your premiums more?

It's an extremely competitive marketplace with strict regulatory approval and profit margins of a few percent.

As always, shop around.

[massnative71]

Thought I've read that good drivers subsidize bad drivers in Massachusetts.

[lrfox]

Originally Posted by Mathguy

So, you want them to pay more in claim costs and raise your premiums more?

It's an extremely competitive marketplace with strict regulatory approval and profit margins of a few percent.

As always, shop around.

That's not what I'm saying at all. Just pointing out that customers are not the only ones being squeezed by the tightening purse strings.

That said, the switch from requiring OEM parts to allowing aftermarket in newer cars would probably be a major deterrent for some car owners. If I have a new BMW M4 with $3,700 ceramic vented brake rotors and the insurance company says, "nah, we're going to swap that for an $80 Autopart International rotor," I'd be pretty upset. So like you said, shop around and read the fine print.

Personally, USAA has been good to me. Even if they're a little more expensive than some of the competitors, I have no interest in switching.

[msRB311]

with how everything else is going up from groceries to gas to housing...this just isn't cool.

[Iced_Coffee]

Originally Posted by massnative71

Thought I've read that good drivers subsidize bad drivers in Massachusetts.

That's all insurance, everywhere. The healthy subsidize the sick, the living subsidize the dead, the safe subsidize the reckless, etc. Need good risk to balance the bad risk, essentially.

[BruinsGirl]

Originally Posted by BostonMike7

That's very good. My wife's brand new car is $1400/year.


Add in my cars and we are at $3600/year for 3 cars plus $600/year for collector car insurance on one other.

My husband negotiates, switches insurance companies house/cars.

We live in pretty safe town near 495 and do not drive much (now), but it was under $900 on similar cars (lets say 2 Camry's) when we were driving before Covid.

Now it is Rav4 Hybrid + camper van

We increased deductibles to $1000 if this matters. We also do not have rental car included. This is it I guess.
During our history of driving we noticed that insurance makes sense during serious accidents. There is no reason to overpay every year for small things.

[BruinsGirl]

Originally Posted by newenglandgal123

Wow, $1100 for 2 new cars. You have a very good deal. I pay more than double that for a 1 year old car w/clean record!

Expensive car somewhere in Boston?

Location matters. My parents live in Brighton and insurances there are way higher.

[newenglandgal123]

Originally Posted by BruinsGirl

Expensive car somewhere in Boston?

Location matters. My parents live in Brighton and insurances there are way higher.

It is a pricier car but I think what the insurance might not like about mine is the higher horsepower so maybe that is why my rate is so high? I mean it's not like I have a 500hp vehicle but it is still significantly higher than your average Rav 4 or Toyota Camry.

[redplum33]

Originally Posted by BruinsGirl

Location matters.

Age also.

[BruinsGirl]

Originally Posted by redplum33

Age also.

We had such rates since were in 30ies which is close to newenglandgal123.

Now ... in early 20ies my husband had tons of accidents and other violations and maximum step. We had to learn hard way.