I recently got a notice that our car insurance was increasing by about 10% per month and wasn't due to any claims/accidents/tickets on our account!!! That increased our expense by about $16 per month. Ouch....

I did the usual price comparisons online and they were good and even talked with an insurance agent who quoted some prices that would effectively save me about $50 per month.

My price comparisons stipulations: I didn't change our coverage amounts and would only look at companies rated at A+ or better.

Then I got a brilliant idea to check with the quoted insurance company directly and that quote plus I went ahead and dipped into savings to pay the entire six month premimum at once resulted in a total savings each month of $74!!! Now that was a cause for celebration even from my husband!!!

I have also received notice of a 10% increase in our homeowners policy with no claims or changes in our coverage limits as well, so will see if I can do any better with that coverage through someone else.

Thank goodness our medical insurance premiums are not increasing next year.

It seems that our monthly expenses are getting attacked on every front...

I definately know what you are talking about. We just added our DD to our car ins. last Friday and yes, I knew it would jump because she is a new driver, but even with the good student and driver ed discount ours jumped drastically. We are also looking around and getting quotes 'cause my DH and I have no accidents, tickets, there was no way that adding her needed to take a huge jump were it was almost as much as our own policy.

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Not to scare you, but some insurance companies will use your credit score to raise/lower your insurance rates. If you think your credit is good, you may want to check your report anyway in case there is something on there that is inaccurate. If you have some dings on there from late payments, etc, that may be why they raised your rates for no cause. It's doesn't seem fair, but FICO is everything lately.

Thanks for the replies...

1) There has been no change on our FICO scores, thought about that and checked first thing, plus it is frustrating that the insurance went up even though the value of the cars decreases significantly.

2) It's been a few years, but my husband and I took the stance with our older bunch of kids that they would have to find and carry their own insurance coverage. My husband was a hardliner, didn't want any negative ratings on our auto insurance. It paid off significantly because our then teen son got several tickets and fender/benders. Was surprised to find that the kids seemed to get better rates by having their own policies, but that was about 12 years ago, so things might have changed. I will be having to shop around for our 15 soon to be 16 year old son and difinitely scared about that cost.

Great job!

You may want to check with your new auto insurance carrier and see if they also write homeowner's insurance. Many offer a multi policy discount.

Our credit got dinged and insurance was raised because we canceled our credit card. We had always paid it off, never running a balance. But when they wouldn't issue us a card without a RFID chip in it, we got mad and canceled the account. So our available credit went to $0. And the auto insurance went up, even telling us why.

I was ticked.

Cathleen

what's a rfid chip?

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Mabennett - Proud Mommy to a Yankee, a Tarheel, and a cheerleader