Car Insurance Rates

[scarlett09]

Has anyone else noticed that their rates are going up for no particular reason?

I got my policy renewal in the mail yesterday and I saw that my monthly payments had increased by $8/month and the cost of my overall policy had gone up by $50. I haven't changed any of the parameters of the policy, I've been married for over a year, and I have the same vehicle. I thought that perhaps I was seeing the after effects of a speeding ticket I got last December (my first ticket ever!). Then I thought that maybe it is the after effects of DH getting a speeding ticket last January (he is listed as a driver on my policy). I'm not really sure the rate increase is related to the speeding tickets. We don't live in a state with high car insurance rates either. I haven't done a comparison of the policy break down yet (I plan on doing so later today). DH said that other people he works with have said their rates have increased as well, apparently for no rhyme or reason.

Is anyone else experiencing this? Or could it be the after effects of both of our speeding tickets? (I have Geico, BTW.)

[diggitydot]

Our insurance actually dropped last time we renewed. Maybe there's something going on in your state with the insurance regulation board causing costs to increase? Each state has different insurance boards and regulations.

[Mrs. MD, Esq.]

I had this happen and called to ask why -- the person was able to adjust it to a couple bucks lower than I had paid the previous time. Can't hurt to try!

[MissCrabette]

Go line by line to see which item went up. I'd call and ask, too. If they do lower it, make sure you're still getting the same coverage and someone isn't just fiddling with the amount of coverage to get you a lower payment.

Mine went up by choice, by the way.

[scrub-jay]

Mine went up and they explained it was a "company wide increase"... so I switched to a different company. Ridiculous.

[scarlett09]

So I had a chance to compare this policy to the previous policy and the two biggest increases were in the Bodily Injury Liability and the Uninsured Motorists Bodily Injury. I will take a poke around the state government's website to see if anything has changed. If I can't find anything, then I will be calling the company to see why the increases happened. Thanks guys!