Conversation Street - Insurance Hikes

"404 - User No Longer Available" (toni-cipriani)
12/17/2016 at 22:08 • Filed to: Insurance, Discussion

!!! UNKNOWN CONTENT TYPE !!!

*cues music* Discuss.

So if they raise my rates on my Solstice and my option-less 328i, I call this reasoning BS.

DISCUSSION (11)

Dr. Zoidberg - RIP Oppo > 404 - User No Longer Available
12/17/2016 at 22:22

If they’re simply saying that new cars are more expensive to repair than a 1993 Corolla’s bumper, I agree. However, are the same safety features that are expensive to repair (cameras, lane departure, etc.) more likely to reduce the chance of an accident involving that vehicle to begin with? I have no idea, but if so, then that just stinks to raise rates when those drivers are buying cars that insurance companies “want” you to buy.

XJDano > 404 - User No Longer Available
12/17/2016 at 22:24

If my cars had that crap, I’d be ok with it. They don’t. I can see if I hit someone with all that 2015+ new sensors per square inch, my rates would go up. But I hope I don’t and hope rates don’t go up.

But since the insurance agency’s are an industry other company’s will follow suit and find an excuse to make more money.

404 - User No Longer Available > Dr. Zoidberg - RIP Oppo
12/17/2016 at 22:24

Further to that, a lot of the said features are actually being mandated, like backup cameras.

JQJ213- Now With An Extra Cylinder! > Dr. Zoidberg - RIP Oppo
12/17/2016 at 22:26

I know the dealer was pissed when I needed a new windshield for my accord. I have lane departure warning and collision warning cameras behind my windshield.

When I got a new windshield, they had to take it to the dealer to recalibrate the camera for the new glass; 2 hours labor.

Dr. Zoidberg - RIP Oppo > 404 - User No Longer Available
12/17/2016 at 22:32

I’m in general a cynical person, but I’m sure the interests that pushed for that mandate are profiting from it one way or another. And now automakers will continue to design vehicles with zero rear visibility, because why not? They all have backup cameras now.

Dr. Zoidberg - RIP Oppo > JQJ213- Now With An Extra Cylinder!
12/17/2016 at 22:34

Sucks - for them.

Didn’t know a used Accord coupe had those features... Is the visibility on that car decent?

Urambo Tauro > 404 - User No Longer Available
12/17/2016 at 22:49

I’d really prefer that they’d limit their price hikes to the customers that cost them the most money, rather than punishing us all equally. It’s been years since I’ve been in a wreck, and both of my vehicles are relatively inexpensive to work on, and easy to find parts for.

pitstop_pitowski > 404 - User No Longer Available
12/17/2016 at 22:49

As a former auto damage adjuster I can say it is a parts price issue (and don’t forget predatory body shops that upcharge). I’ve seen LED and HID lamp assemblies that cost upwards of $1k and beyond to replace and then think of bumper covers and what is in them nowadays (sensors, textured plastic pieces, reflectors, etc.) I don’t think it will affect your current vehicles. I also once worked in auto underwriting and individual rates are based upon on many factors. Part prices, car model safety rating, your driving record, overall state/city rates, your credit score, how many people drive your car, and other things (married? male/female? age?) go into your insurance premium. That being said, loss ratio will affect overall rates for a specific state/city. The easiest way to think about this is insurance is a pool of money. Think of the cost an insurance company is now spending to refill the pool of money needed to repair damage others are causing in your city/state. More accidents and reckless drivers mean you pay more. But, overall rate increases can only be approved on a state legislature level and happen years in advance of the increase you see on your bill. In summation, the increases noted in the article are probably a parts-based and vehicle by vehicle increase, not an overall across the board rate increase. And if and when they do come about, the snowball of that change started years ago.

Steve in Manhattan > 404 - User No Longer Available
12/17/2016 at 23:38

I got nuthin’ here - my last car was sold in 2001 (‘97 SHO) and I think my insurance, having lived in DC and WI when I owned it) was never more than 575 bucks a year. And, I’d been an error-free driver since the late 80s, so there was no reason to smack me around. And I’ve moved to a new company more than once - I think (and I might be wrong) that State Farm shit on me at some point, so I went to Nationwide.

And now my contents insurance is from State Farm ... the enemy. And I don’t live on a farm, but for 180 bucks a year, they will replace the stuff in our apartment (or pay us the value) ... I should shop around, in fact. But we’re in the back of the building, and the chances of a breakin are nearly zero.

G_Body_Man: Sponsored by the number 3 > 404 - User No Longer Available
12/17/2016 at 23:38

State-run insurance here is hiking their rates 4.9% come January 1st. It turns out that the cancellation fee I would pay now would be less than the rate increase in the new year, so I’m doing that next week. Rather infuriating, if you ask me.

JQJ213- Now With An Extra Cylinder! > Dr. Zoidberg - RIP Oppo
12/18/2016 at 00:32

Visibility is pretty decent. I do love the lanewatch camera that automatically turns on when the right signal is applied. It’s honestly a major help because of the seating position you do kinda lose things in that small side window.

Kinda silly thing is being a 2013, the cameras only warn me if I left my lane or am about to hit something. They won’t actually do anything to help prevent an incident. It just starts beeping like crazy.