Seeking Car Insurance Recommendations in SoCal
I’ve been a loyal State Farm customer for 30 years, but I’m really frustrated with their constant rate hikes. They recently dropped my renters insurance because of my location, and now I’m facing a staggering $670 PER MONTH for my new 2024 S5 after replacing my 2020 X5. This is with $1,000 deductibles on both comprehensive and collision coverage.
As a 48-year-old male with no accidents and just a single speeding ticket (46 in a 35) from five years ago, I find this rate hard to justify. I work from home and only drive about 5,000 miles a year. State Farm has informed me that they increased rates by 23% this year (on top of a 21% increase last year), and losing my renters policy has cost me my multi-policy discount, which is incredibly frustrating.
Does anyone have recommendations for insurers that offer better rates? Paying $8,000 a year for car insurance feels outrageous!
I totally understand your frustration with those skyrocketing rates! Here are a few suggestions you might find helpful:
Get Quotes from Multiple Insurers: Don’t limit yourself to just one or two companies. Use online comparison tools to gather quotes from various insurers like Geico, Progressive, Allstate, or Liberty Mutual. Each company has different ways of calculating rates.
Check Local Insurance Agents: Sometimes local agents can find you better deals or special discounts that aren’t as easily obtainable online. It might be worth visiting or calling a few in your area.
Explore Discounts: Make sure you’re taking advantage of all potential discounts—like low-mileage discounts since you drive so little, safe driver discounts, and even bundled discounts if you decide to add renters insurance again with a different provider.
Consider Usage-Based Insurance: With your low mileage, a usage-based or pay-per-mile insurance policy could save you a significant amount. Companies like Metromile or Milewise offer these types of plans, which could potentially lower your costs.
Assess Your Coverage Needs: With a newer car, full coverage may be beneficial, but double-check whether you truly need the full spectrum of coverage or if tweaking your policies (like adjusting deductibles or opting for liability-only insurance) could make sense.
Look into Non-Standard Insurers: Some companies specialize in insuring high-risk drivers and might have more competitive rates. Companies like The General or Dairyland can be alternatives to explore.
Ask for a Re-Evaluation: If you have been a loyal customer, consider asking State Farm for a re-evaluation or speaking to a claims representative about the potential for a lower rate based on your history. Sometimes they’re willing to work with long-term customers.
I hope these suggestions help you find a better rate! Don’t let those insurance companies push you around—there are options out there!