My insurance bill is higher per month than my monthly payment on my car is. This is after shopping around for insurance.
What’s unusual about that? My insurance is infinitely higher (I own my cars outright).
Because I live in a shit no fault state. 0 accidents, 1 ticket in 20 years. (Fuck Ohio.) My insurance should be cheap. It’s not though because they scale what I pay off everyone else.
Yeah I’m in Ohio also - 0 accidents, 1 ticket in 20 years. And I’ll be adding a 2nd teenager to our coverage this year. Ugh.
My partner broke down into tears when I told them how much adding one was going to be.
And everyone clapped
lt’s not a flex; it’s because my cars are old and cheap.
Hmm, it’s almost like we should focus considerably more on simple vehicles instead of complex subscription shit boxes that we have, to cut down cost of manufacturing/materials/parts/labour and now insurance…no big money in that though.
Or you know …public transport is also pretty damn good option over any of this. Something drastic would have to change for trains/buses/etc to become commonplace in NA though, at least in some EU countries and a few other countries in the world there’s a bit of hope.
In the US, electric vehicles are only affordable for wealthy drivers. In China, they are building cheap electric cars, like $16,000 cheap. But tarrifs to protect our stagnant auto industry will keep these cars out.
It’s maddening isn’t it, and probably not that different between US and Canada.
I don’t think you even need to go as far as China to see autoindustryasshattery in effect, just look at our Southern neighbors in Mexico who aren’t getting fair share on the produced vehicles while parent companies/dealerships reap profits, but that’s probably a different conversation altogether…I mean something is seriously fucking wrong when a car dealer is also one of the biggest grocery chains and god knows what else (that one is Canada, not US)
In the US, electric vehicles are only affordable for wealthy drivers.
Here’s 14 used EVs for under 5k. Yeah, they’re not the greatest whizbang self driving blah blah blah, but I put almost 100k miles on a 2011 Leaf and had little issue with it, and my kid is still driving it to this day. It’s all you need if you’re just running around town doing errands. Rent something for long trips.
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TL;DR: A bunch of dumbasses forgot how to drive during the pandemic, so now accidents are up and so is insurance.
Also we have to drive massive and super expensive cars so accidents are worse and more expensive.
Bought a house in 2021, registering my insurance at the new address DOUBLED my rate. $220 a month for 2 cars. No accidents, nothing, just bought a house and changed address.
Most people don’t realize that your address actually has a huge impact on insurance. Moving less than an hour’s drive for me caused a change of nearly $100/month.
I just moved ~30 minutes away and saved $100/mo as well. Insane difference.
Geico ain’t got shit on that
Yeah, I moved 12 miles away once and it would have doubled my insurance. I just made a deal with the apartment owners that they would grab my insurance bills and I would keep my address there on insurance forms. I moved from that new place a couple years later into a new apartment, and the insurance was still much higher than my original zip code (though not doubled). I just kept my insurance at the first place for the next 6 years, because there was no impact on a daily basis.
It wasn’t until I bought a house and was forced to change my address for house insurance that I finally “moved” away from that first apartment.
I would keep my address there on insurance forms
I’m not sure I’m understanding. You were living at place B, but your insurance was registered to place A? Wouldn’t the insurer then deny any claims if something were to happen at place B?
I did the same and it more than halved it moving from a southern to a northern state.
My rates jumped quite a bit too and I’m 36 years old. Two vehicles and a house. Zero tickets and accidents on top of that.
The Insurance industry has realized how hard it is to prove collusion.
For corporations tho. It’s much easier to prove for these schmucks legally required to buy our services.
Car manufacturers can’t secure their shit and insurance companies have to punish everyone because of their incompetence.
One manufacturer in particular that wanted to save a buck on immobilizers, namely Hyundai Motor.
But it’s the same with homeowners. People live in areas prone to hurricanes, tornadoes, and fires, only for the rest of our insurance to skyrocket right after another mass claim somewhere in the south or west.
Don’t forget KIA (Kia Boyz challenge) And people also like to build massive houses right next to the ocean and with them raising and engulfing the houses. These asshats always get paid out
Hyundai Motors owns a massive amount of Kia and was largely responsible for the decision.
Ah wasn’t aware of that
And yet, car insurance is too cheap in the U.S: https://thewaroncars.org/2024/03/19/122-car-insurance-is-too-cheap/
Cars are quite simply way too expensive, both on an individual and societal level.
My work had to change auto insurance providers after they increased their premium by 350% at renewal time. No specific explanation given of course - “rising costs through the industry”. Apparently the new provider is about double the original rate. Got us all worried it would happen to our cars too. No ones mentioned anything since though. Only a matter of time I suppose.
Also why people are driving less and not buying cars.
I don’t drive, and because traveling is always a direct cost to me ($20 Uber each way to the mall just to watch a movie hurts), I’m not convinced when my friends tell me how much money I’m saving. But with stuff like this, maybe I am actually saving money…
Get a ebike
A lot of work you could do on a car yourself prior to 2018 is now impossible because everything in the car has sensors that talk to the on board computer. Replacing a side mirror should not involved sensor hookups.
I just switched insurance companies and my vehicle insurance went from 360€/y to 320€/y and property insurance went from 570€/y to 430€/y
maybe giant death machines are hard to insure?
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Did we read the same article? The point is about more severe crashes.
If you have data to back your point up, I’d love to see it. I’m not aware of any major changes in vehicle purchases. I’m not sure how that matches with more overall crashes, as the article reports.
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Huh? It says 17.4%, where did 90 come from?
The inflation graphic used is misleading, likely to shock and disturb. I saw that 20% as 80-90% as well the first time.
AI hallucination?
No, that’s not what is driving this at all. The replacement cost of a vehicle has increased significantly. That’s the root cause.
