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Do you have Allstate insurance in TX? A 350+% rate hike....what a crock....

J

John

Moderator Emeritus<br>Elite Member
I have a perfect driving record and my 6 month auto premium is $373.00 (50/100/50 full cov, pip, uim, 500 coll, 100 comp, towing, rental, etc) for my 2002 Lightning. I get a packet from Allstate today saying that "due to all the claims in the recent years they are losing money in Texas and are raising rates across the board....". Now my 6 month premium will be $1379.71 starting next month when it goes up for renewal. This is over a 350% rate hike!

Did anyone else receive a similar notice? I am going to start making some calls to other reputable insurance providers to see what is available.

:|
 
That sucks, I figure my 6 month premium is going to up to about $2500

2003 Traiblazer
2002 Z28
1996 Escort
1991 Dakota

Wife has 4 points and 1 student driver.

 
I would be switching insurance providers. My old insurance compnay rasied my premium $75 for no reason, so I switched to Progressive...
 
That is the way insurance companies work all over the world. If you don't shop around every year they WILL screw you over just because you're a loyal $ucker.
The insurance rates here in the US are insane. I pay $140/month and it's not even on a new car! It becomes ridiculous when the insurance gets up to %50 of the PAYMENT you do on the car.

I don't understand...
 
I'm just waiting to get my insurance renewal. A friend of mine had his insurance DOUBLE because of this bullsh!t. (no tickets or accidents)

Somebody should file an extortion suit against the insurance companies. I say extortion because in Ontario it is illegal to drive without insurance. What are you supposed to do if you can't afford your insurance anymore? Quit your job because you can't get to work? :|:|:|

The thing that kills me is the fact that they use the fact that some of their revenues were lost because of a bear stock market. These companies need to suck it up and not punish the consumer because of THEIR BAD BUSINESS DECISIONS.

:| x 80934978098743987530987539875379834987359875397859837987339874983
 
Originally posted by: John
I have a perfect driving record and my 6 month auto premium was $650.00 (50/100/50 full cov, pip, uim, 500 coll, 100 comp, towing, rental, etc) for my 2002 Lightning. I get a packet from Allstate today saying that "due to all the claims in the recent years they are losing money in Texas and are raising rates across the board....". Now my 6 month premium will be $1379.71 starting next month when it goes up for renewal.

Did anyone else receive a similar notice? I am going to start making some calls to other reputable insurance providers to see what is available.

:|
Click to expand...
Whoa - I am an 18 year old male, with an accord v6 coupe (my insurance company counts it as a sports car due to the v6) my parents still pay my insurance for me, but it is a little over 600 per 6 months, I don't have any tickets, or accidents, but still, mine should be way higher than yours given my age.
 
Originally posted by: DaiShan
Originally posted by: John
I have a perfect driving record and my 6 month auto premium was $650.00 (50/100/50 full cov, pip, uim, 500 coll, 100 comp, towing, rental, etc) for my 2002 Lightning. I get a packet from Allstate today saying that "due to all the claims in the recent years they are losing money in Texas and are raising rates across the board....". Now my 6 month premium will be $1379.71 starting next month when it goes up for renewal.

Did anyone else receive a similar notice? I am going to start making some calls to other reputable insurance providers to see what is available.

:|
Click to expand...
Whoa - I am an 18 year old male, with an accord v6 coupe (my insurance company counts it as a sports car due to the v6) my parents still pay my insurance for me, but it is a little over 600 per 6 months, I don't have any tickets, or accidents, but still, mine should be way higher than yours given my age.
Click to expand...

they usually count it as a sports car because of the 2 doors...
 
Everytime I go looking for a new insurer they ask me for the dollar figure for every claim I've had for 5 years. I'm like wtf, that's why I have insurance, so I don't have to care about the cost to you of something I owned three cars ago.

 
They were given the go ahead to raise in Alabama also, although the average increase may only be 5% or something like that. My advice is to shop around! I was on progressive for the last year and yesterday switched to Alfa; my 6 month went from $1300 to $800.
 
Originally posted by: DaiShan
Originally posted by: John
I have a perfect driving record and my 6 month auto premium was $650.00 (50/100/50 full cov, pip, uim, 500 coll, 100 comp, towing, rental, etc) for my 2002 Lightning. I get a packet from Allstate today saying that "due to all the claims in the recent years they are losing money in Texas and are raising rates across the board....". Now my 6 month premium will be $1379.71 starting next month when it goes up for renewal.

Did anyone else receive a similar notice? I am going to start making some calls to other reputable insurance providers to see what is available.

:|
Click to expand...
Whoa - I am an 18 year old male, with an accord v6 coupe (my insurance company counts it as a sports car due to the v6) my parents still pay my insurance for me, but it is a little over 600 per 6 months, I don't have any tickets, or accidents, but still, mine should be way higher than yours given my age.
Click to expand...

If your insurance is included within your parent's, its not surprising you have a better deal. If your insurance is just on your name alone, may I ask who's your insurance company is? 🙂
 
dude, car insurance is a load of crock in EVERY state! safe drivers should get some refund annually - it's ridiously insane to be paying so much in my state! :|
 
hey, i live in houston, we've had allstate for a number of years. thank god ours hasn't gone up *knock on wood*

in general tho, insurance companies do blow!

everyones premiums went up, esp.hotel industry and others after 9/11, the consumer always ends up getting screwed. that tragedy affected all of us, yet insurance companies will find a way to not lose a dime on it.
 
Guys I made a mistake. I just looked at my current Allstate policy and I am paying 373.00 for 6 months and not the 650.00 as I had stated originally. This is a 350%+ rate hike which is utter BS.

 
Originally posted by: m2kewl
dude, car insurance is a load of crock in EVERY state! safe drivers should get some refund annually - it's ridiously insane to be paying so much in my state! :|
Click to expand...

Well I used to get bonus on my car insurance but that was back in Sweden. Safe driver ---> bonus ---> lower rates. But they started to screw people over there too.
They make billions of $$$ on the fee, WTH is costing them so much? Is it because people like to sue eachothers pants off?

 
Insurance is legalized fraud imposed upon us by our own government.
They are making sure their profits stay up.
 
The insurance and pharmecutical industries remain the most profitable year after year and this is partly why in the case of the former.

American Family decided to try to screw me once on auto insurance though the increase wasn't nearly 350%. I dumped their ass and found another carrier. Unfortunately no matter where you move to they'll like pull this same tactic on you at some point forcing you to play the game anew.
safe drivers should get some refund annually
Click to expand...
Interesting idea!
 
Originally posted by: JellyBaby
The insurance and pharmecutical industries remain the most profitable year after year and this is partly why in the case of the former.

American Family decided to try to screw me once on auto insurance though the increase wasn't nearly 350%. I dumped their ass and found another carrier. Unfortunately no matter where you move to they'll like pull this same tactic on you at some point forcing you to play the game anew.
safe drivers should get some refund annually
Click to expand...
Interesting idea!
Click to expand...

I didn't doubt the Pharmaecutical part, but there's a lot of Insurance company in the red and in danger of bankruptcy right now.
 
The government should not have made a law making it required to have car insurance.

I got a letter from state farm saying since i was such a good customer and safe driver they dropped my insuance on my truck $10.00 a month. but 2 weeks later i get another letter saying that because of all the claims my insurance on my truck has increased $12.00 :|

That has happened every single time i got a letter dropping my rates. :|

we all should write our state represenatives and bitch. They make us have auto insurance but the rates are going so high nobody will be able to afford them. I know i wont be able to pay for my kids insurance when they start to drive. My nephew just added $190.00 bucks to my sisters monthly insurance bill and that is to drive their car not his own.
 
Originally posted by: Citrix
The government should not have made a law making it required to have car insurance.

I got a letter from state farm saying since i was such a good customer and safe driver they dropped my insuance on my truck $10.00 a month. but 2 weeks later i get another letter saying that because of all the claims my insurance on my truck has increased $12.00 :|

That has happened every single time i got a letter dropping my rates. :|
Click to expand...

Yep, that's the game. Since auto insurance is mandatory in FL (and I believe most other states) I think the govn. should have to offer a basic insurance policy at a basic rate that meets their rqmts. Not a perfect solution but I think it could help lower rates across the board if setup properly.
 
Allstate has nothing to lose raising the rights like that in states where they're losing money.

Their rates were probably under the market to begin with, but anyhow, even if you cancel then they will be losing less money.

The crock is where states are managed near-independently, so for example if they are making a ton of money in CA of something, then they still look at a state like Texas as a loss and work to manage it to be profitable, in order to make all states profitable or atleast not in the red.
 
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