Insurance bill significantly higher this year. Time to change carriers?

I’m in metro Atlanta. Just checked my insurance for car and it’s nearly $2500 for two vehicles now. Neither is fancy, one’s a honda civic from 2017 and the other is an HR-V from 2019. There was an accident last year where someone hit the civic but we got it all on dash camera and it was not our fault and the other driver literally said, on the phone to his insurance company “this was all my fault” so I don’t think that should alter our rates. Is this the going rate now? It seems like it was significantly less the last time.

My insurance went up 35% despite no accidents or claims. I think it’s just gotten very expensive to repair cars these days. All you can do is ask your company to review your coverage and see if there are any discounts available. And then shop around - easy to do on the Internet as there are many national companies that don’t require agents or brick-and-mortar locations.

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My bundled home/auto insurance just went up significantly most, of it on the auto side. I have not had any claims on either policy in close to if not more than 20 years. I also have not had any tickets on my driver’s license for at least that same time period.

This probably won’t help you but it’s an interesting take on insurance by economist Amy Finkelstein on Freakonomics radio: “Insurance Is Sexy.” Discuss. - Freakonomics

Sometimes the best rates are with an independent agent as not all companies participate in online.

I pay a lot less with Hanover aka Commerce insurance from the city I was born than with a Geico policy. I believe Progressive was cheaper but only if I had one of those devices. Since I’m a jackrabbit, Hanover for me was a better deal for now

When do I need an umbrella policy? Is it when I begin to take RMDs since almost all my money is exempt - make $74K with $125k in retirement and have about $7,000 in savings. I think there was another post in how it can be less expensive to have a $1M umbrella than having $1M on the home and $1M on the auto

You should discuss the need for such a policy with your agent. A $1 million policy doesn’t make sense unless you have $1 million in assets that could be subject to a lawsuit. If you have retirement funds, they may be protected from lawsuits:

Your homeowners insurance should have liability protection in case someone slips and falls. Your auto insurance should cover most accidents. Umbrella policies are mainly for wealthier individuals who feel that they’re at risk of being sued for any reason, whether related to an accident, accused of fraud or negligence, or any situation where a plaintiff wants your money.