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Time to start shopping. There's absolutely no reason to put up with that nonsense.
It’s going to be all eventually. I have Plymouth Rock and they requested a similar increase. My honey switched TO State Farm last year because they were cheaper.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Insurance companies have to make enough to cover the cost of claims and still make a profit. With the big nationwide increase in car thefts, catalytic converter thefts, road-rage caused accidents, and damage for car prowls, rate increases are to be expected. Add to that a higher cost and shortage of parts and this is the result. Some places get hit harder than others and apparently your state is one of those. Here in Washington east of Seattle our State Farm on 3 cars and a trailer only went up about 6.5%. According to the State Commissioner's office, overall auto insurance rates in Washington are expected to average increases of 12.6% in 2024.
Seems excessive. They will definitely lose customers. Unless of course their competitors start doing the same.
Many already have.
The reality is that parts have gone up, a lot, as well as labor costs, both direct and indirect. Add to that the greater number of EVs, which cost more to repair, being bought and wrecked costs are going to go up.
I don't like it either but it is what's happening.
Insurance companies have to make enough to cover the cost of claims and still make a profit. With the big nationwide increase in car thefts, catalytic converter thefts, road-rage caused accidents, and damage for car prowls, rate increases are to be expected. Add to that a higher cost and shortage of parts and this is the result. Some places get hit harder than others and apparently your state is one of those. Here in Washington east of Seattle our State Farm on 3 cars and a trailer only went up about 6.5%. According to the State Commissioner's office, overall auto insurance rates in Washington are expected to average increases of 12.6% in 2024.
The letter says that they are requesting a 23-something percent increase from the state. It hasn’t been approved yet. It is happening here too, and I live in a rural area of South Jersey.
Geico just raised my rates something like 20% for inflation.
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