[sinatras]

Was thinking about buying a new car. Got quotes from all the major carriers (8) and none was under $6000 a year. I have no claims, no accidents, no tickets, great credit. Guess it was about time the auto insurance situation matched the homeowners situation in Florida. Out of control increases. The reps I spoke to blamed "cost of doing business in Florida".

I find it morally reprehensible to pay $6,000 a year to insure a $27,000 car. But I guess everyone in Florida is perfectly OK with this. I don't see anyone protesting.

I'll just keep my 2018 Accord. Until it gets stolen or flooded out by a hurricane I guess.

[Arcenal813]

Originally Posted by sinatras

Was thinking about buying a new car. Got quotes from all the major carriers (8) and none was under $6000 a year. I have no claims, no accidents, no tickets, great credit. Guess it was about time the auto insurance situation matched the homeowners situation in Florida. Out of control increases. The reps I spoke to blamed "cost of doing business in Florida".

I find it morally reprehensible to pay $6,000 a year to insure a $27,000 car. But I guess everyone in Florida is perfectly OK with this. I don't see anyone protesting.

I'll just keep my 2018 Accord. Until it gets stolen or flooded out by a hurricane I guess.

LOL! It's one of the main reasons why I refuse to buy a new car. The insurance is roughly equivalent to the monthly payment. That's ~$1,000+/month to drive a decent, albeit standard car.

[Mathguy]

Seems high, should be sure to shop around.

That being said, to implement lower auto insurance rates you'll need reform laws, I know some were just passed but not sure how much of that will help with auto insurance costs.

Mostly what you are paying for is the army of lawyers that will try to inflate every case to the maximum.

[sinatras]

Originally Posted by Mathguy

Seems high, should be sure to shop around.

That being said, to implement lower auto insurance rates you'll need reform laws, I know some were just passed but not sure how much of that will help with auto insurance costs.

Mostly what you are paying for is the army of lawyers that will try to inflate every case to the maximum.

Every rep I got quotes from basically said "its not you, it's florida"

I am being told to lower coverages to the bare minimum to reduce the rate. But if I do that what's the point?

Also, at these prices, the number of uninsured motorists in Fla must be absolutely skyrocketing.

It should never cost $6000 to insure a $27000 vehicle. That is reprehensible and another nail in the coffin for the American dream.

[Hemlock140]

We are in the expensive Seattle area, Sammamish WA and our car insurance went way up this year. Still, for our 2020, 2017 and 1974 vehicles with full coverage the total for the year is about $3,000.
Might it have to do with flooding and hurricane claims there?

[elchevere]

Best decision I made was to give up my car 1.5 years ago (can only imagine what it would cost now to insure a Maserati).

I figure I'm saving about $1800/month, cash, by using Uber instead. Of course I have the benefit of being retired and not needing a car for work and living in a highly walkable area of Miami. I still have a non-operating auto policy with GEICO that runs me about $550/year--an auto policy is required in order to have an Umbrella policy (and it gets me coverage for a very small fee the few times a year I rent a car).

[Igor Blevin]

Originally Posted by Hemlock140

We are in the expensive Seattle area, Sammamish WA and our car insurance went way up this year. Still, for our 2020, 2017 and 1974 vehicles with full coverage the total for the year is about $3,000.
Might it have to do with flooding and hurricane claims there?

Floods.
Hurricanes.
Wild fires.
Soaring auto theft.
Carjackings.
Car breakins. Used to be they only smashed car windows if they saw something. Now it is 20 cars at a time fishing.
More cars being demolished in police pursuits.
Smash and grabs using stolen cars to ram store fronts.

All the while, cars, the cost of parts, and the cost of labor have all shot up due to massive inflation.

[FL_Expert]

My premium is nowhere near this high. Max out your deductibles and shop around more if you have to.

[LKJ1988]

Same here. Mine is about 1k per 6 months for 10/20.

[Corrie22]

Originally Posted by LKJ1988

Same here. Mine is about 1k per 6 months for 10/20.

same here.....

the OP seems to have a "kick me" sign on his back.....for everything