Rates Going Up, Again

[five]

Last year, my previous insurance company wanted to raise my rate $1,000....so I changed companies.  Now my new company wants to raise my rate 20%.  The RV has decreased in value, no accidents, no tickets, no claims....anybody else noticing the same thing?

[hermanmullins]

Lots of insurance companies low ball you the first year and think they can go up the next. If they stayed the same you wouldn't have gone looking for a better deal. Some don't seem to understand, if they go up too much they lose all and end up with out a customer where if they stayed the same or with just a minor raise they would still have a customer.

Herman

[richard5933]

Must be different state to state. Got our renewal from Progressive this year, and our premium went down about $100. Had to call my independent agent who wrote the policy to make sure the company didn't lower my coverage - they didn't. Seems that after three years give some kind of a discount, but I can't remember what they called it.

[wildebill308]

I am ready for them to give me a lowball price right now.

Bill

[rayin]

We owe no allegiance to any insurance company. a couple years ago I switched to Safeco for a lower rate  and better coverage. Tomorrow I am switching to Progressive - $100 lower premium for higher coverage. 

Musing; it seems a shame to insure our MH that hasen't seen a road since December, and will not see one again until fall(unless this virus disappears NLT next month).

NOTE: Safeco does not write MH policies, they write an auto policy and enhance coverage, so said my agent.

[manholt]

ray, there are several companies that will cover you on the road, then minimal or no coverage when your home in garage.  They only charge for usage, because most house insurance cover what's in garage also!  You can also get an umbrella coverage, used to be $250 a year per million...don't know what it is now.

Our insurance on new to us coach, went up $1,000 per year, we have replacement coverage for $350k, last coach was for $190k...Still have State Farm!

[richard5933]

6 hours ago, RayIN said:

...Musing; it seems a shame to insure our MH that hasen't seen a road since December, and will not see one again until fall(unless this virus disappears NLT next month)...

Lots can go wrong and cause a loss while the MH is parked at home, so I would consider it still worthwhile to have insurance.

Our carrier for our auto policies is sending a partial refund due to the covid-19 shut down. From their announcement letter is seems that they recognize with everyone staying home there is lower risk for everyone. Maybe the company covering your MH has something similar, or maybe you can 'pause' the policy to some degree while the MH sits during the current situation.

[jleamont]

58 minutes ago, richard5933 said:

Our carrier for our auto policies is sending a partial refund due to the covid-19 shut down.

That's a great deal! I haven't asked for anything yet but you just sparked my interest.

[docj]

6 hours ago, manholt said:

there are several companies that will cover you on the road, then minimal or no coverage when your home in garage.

Progressive lets me do that every year. I raise deductibles and/or eliminate most on-road coverages; I drop my liability coverage to State minimums so as not to upset my registration.  I keep my comprehensive at full value to protect against storm damage, vandalism, etc.  Normally, I restore the coverages by ~April 1, this year I won't unless I am forced to do so.   Given the current circumstances I doubt they will ask me to do that.

[richard5933]

5 hours ago, jleamont said:

That's a great deal! I haven't asked for anything yet but you just sparked my interest.

I didn't have to do anything. Got an email from West Bend Mutual today announcing the refund. Apparently they have to work with insurance regulators for a method to do this, since there is no precedent for something like this.

Here's an article about a few other companies doing it:

https://www.aarp.org/auto/car-maintenance-safety/info-2020/coronavirus-car-insurance-premium-refund.html

[rayin]

13 hours ago, richard5933 said:

Lots can go wrong and cause a loss while the MH is parked at home, so I would consider it still worthwhile to have insurance.

Our carrier for our auto policies is sending a partial refund due to the covid-19 shut down. From their announcement letter is seems that they recognize with everyone staying home there is lower risk for everyone. Maybe the company covering your MH has something similar, or maybe you can 'pause' the policy to some degree while the MH sits during the current situation.

Yep, got an email from Safeco today. My premium refund should be around $19($780 annual). That should buy a couple of pizzas, but it's the thought that counts. Will sign with Progressive next week(better coverage) and save $100/yr. Makes my old MH cheaper to O/O. I shop around every year.

[pmwiseman]

Progressive notified me if rate increase of 15% AGAIN here in FL. Reason given "hurricanes". Gave same reason 3yrs ago when I dumped them for  a different company. Went back to them last year when other company raised rate for no reason. Dumping Progressive for another company this year and saving over $700. Bottom line : "Shop around".