Price Hikes

[jimfish98]

If you think that's bad, I live in FL and you should see what has happened to my auto and home policies over the last few years.

 

[vetteguy53081]

We had a chance of controlling hikes but due to paying the premium, it became a norm. Its a shame but its also the new norm- blamed on inflation but amounts to profit and cost of materials for product production

 

[rtparty]

If you think that's bad, I live in FL and you should see what has happened to my auto and home policies over the last few years.

Insurance everywhere has gone up drastically. I think my auto has doubled in the last 2 years and is still the cheapest I can get.

If you look into insurance companies it’s amazing who owns them, sits on their boards, or is heavily invested them

 

[00W]

I don't care about prices, but If starting in 2009 makes you a curmudgeon, what does having started in 1993 make me?

Super, Super, Super really old...
Just like me.
Started in 1988.

 

[bakbay]

Insurance everywhere has gone up drastically. I think my auto has doubled in the last 2 years and is still the cheapest I can get.

If you look into insurance companies it’s amazing who owns them, sits on their boards, or is heavily invested them

lol — not sure in your state but here in California, all the big ins carriers moved out of the state while jacking things up by another 20% in a few months. That’s after they more than doubled our premiums! They blamed things on higher and more claims — really? Sounds more like Corporate Greed to me…

 

[Cichlid Dad]

Price hasn’t gone up. You money isn’t worth as much as it used too be.

All that free money everyone got. Now it has come home to roost

 

[00W]

In 2017, I paid $9 for a case of eggs. That's 15 dozen.
In 2019, I paid $19.
In 2020,I couldn't even get them at times.
Were there no chickens?
Last week, $57 per case.
I think I'll shop around thanks.
This is the awful round de round I play owning a restaurant which transfers to the customer coupled by insanely high wages all around.
Yikes.

 

[VintageReefer]

Insurance everywhere has gone up drastically. I think my auto has doubled in the last 2 years and is still the cheapest I can get.

If you look into insurance companies it’s amazing who owns them, sits on their boards, or is heavily invested them

Soo I used Allstate for over 20 years no accidents or tickets and over last 2 years my rates doubled. Just kept making big increases to those 6 month renewals. I called and asked why and they said it’s going up everywhere and it’s not even worth shopping around.

I called State Farm and got back to my original prices, 50% less than what Allstate was going to increase me to, and I switched over my car insurance and homeowner insurance that day. My policies are actually better with only 100$ deductibles and more coverage. This was in October 2023.

I advise talking to State Farm about insurance if Allstate or other companies are attempting to screw you with rate hikes

 

[rtparty]

Soo I used Allstate for over 20 years no accidents or tickets and over last 2 years my rates doubled. Just kept making big increases to those 6 month renewals. I called and asked why and they said it’s going up everywhere and it’s not even worth shopping around.

I called State Farm and got back to my original prices, 50% less than what Allstate was going to increase me to, and I switched over my car insurance and homeowner insurance that day. My policies are actually better with only 100$ deductibles and more coverage. This was in October 2023.

I advise talking to State Farm about insurance if Allstate or other companies are attempting to screw you with rate hikes

I have GEICO for auto and have quoted all of them many times. They are still the cheapest for me by a long shot.

 

[VintageReefer]

For me I was paying Allstate
1/22 - 130/ month
8/22 - 185/ month
3/23 - 240/ month
9/23 - 285/month

Called State Farm the day allstate told me my policy is going up to 285. State Farm exceeded all my coverages and had lower deductibles. For 105 a month

 

[Opus]

If you think that's bad, I live in FL and you should see what has happened to my auto and home policies over the last few years.

Are they pulling out completely there? In Texas a few have just said it isn't profitable and have refused to write new policies. Others just make them so expensive no one buys them

 

[VintageReefer]

I don’t know anybody can say that this is normal inflation. It’s not. Things dramatically changed in the last 3 years and now that all the huff about Covid is over and the lockdown bs has ended, nothing even went back to the way it should be

They raised prices on everything because of covid, realized people would pay it, and then it never reverted

 

[Itsadeepbluesea]

Unfortunately, this is across the board, somethings have increased more than others. They do it because they can and know we will still pay.

 

[jimfish98]

Are they pulling out completely there? In Texas a few have just said it isn't profitable and have refused to write new policies. Others just make them so expensive no one buys them

I had the same carrier for about 15 years and prices were ok, then they went insolvent and closed shop in the state. A number of them did around 2019 as the claim payouts were through the roof after a few back to back storms. 2017 did a lot of damage, ripped the shingles off my roof and only left the sheathing. 2019 we had massive flooding around here in areas that were on a 500 year flood plan to give you an idea of how unlikely it was to actually flood there. Combo that with the number of companies going door to door saying they can get you a new roof and start suing the insurers to get you a new roof at an inflated price. Legal fees through the roof. Less and less companies left and people were getting dumped into the state program of last resort. Folks policies there are being bought by some small companies coming in and taking on 10,000 to 150,000 policies.

Kicker here is nobody wants to make the moves to lower costs. Post Hurricane Andrew there was a massive overhaul of building code that did wonders for quality of build, limiting damage, and keeping insurance down. State won't touch it now despite significantly better products available since Andrew. Part lazy, part b/c the state drove out a lot of workers jumping the cost of labor and not sure new construction can handle all the changes without the workers.

 

[workhz]

The exact magnetic flipper algae scraper I bought in 2015 has gone up 42%. It’s a magnet and plastic and 10yr (at least) old design.

I don’t know anybody can say that this is normal inflation. It’s not. Things dramatically changed in the last 3 years and now that all the huff about Covid is over and the lockdown bs has ended, nothing even went back to the way it should be

They raised prices on everything because of covid, realized people would pay it, and then it never reverted

You have an issue with the 42% over 9 years? What’s that, 4% compounded annually? Doesn’t seem unreasonable given the 15-20% inflation over the last 3 years.

Back to what? Are you expecting deflation or something?

 

[dadnjesse]

Price hasn’t gone up. You money isn’t worth as much as it used too be.

Both

 

[ryanjohn1]

Both

Plus energy costs have skyrocketed

 

[workhz]

My grandma bought a farm with 8 acres of land and two houses on it in 1980 for 25k and sold it last year for over 800k. What changed

More gray hair and wrinkles?

 

[BeanAnimal]

Plus energy costs have skyrocketed

And environmental, and regulatory, and wage, and tax, and energy, and DEI, and ignored theft, everything else under the sun and it is all tied together and what every advocate dreams of… then wonders why stuff cost so much.

 

[GARRIGA]

Finance and economy my arena. Bottom line. Stop paying it. We the consumer our own worst enemy. So long as the demand accepts the heighten prices they will keep rising. Although to some extent unavoidable because their cost also rise but I'm sure there's gauging going on or at a minimum recovery for losses during 2020. Why best reset is a recession. Empty pocket consumers can no longer hurt themselves yet don't see one coming.

Try API. Not precise. Close enough. Been using it since the 80s, although that also has gone up.