Insurance Costs Are Increasing

Two years ago, I bought my 2022 F-150 brand new and paid $200 a month for insurance with State Farm. Now it’s $277. I’ve started shopping around in the DFW area, but I’m seeing quotes as high as $350 to $380. Full coverage with $50k/$100k liability and a $500 deductible. Clean record, no claims. Anyone else dealing with these increases?

State Farm reported a $7B loss in auto coverage last year. Other companies are likely in the same situation, and rising vehicle costs will keep pushing premiums up.

Ronald said:
State Farm reported a $7B loss in auto coverage last year. Other companies are likely in the same situation, and rising vehicle costs will keep pushing premiums up.

Vehicles are becoming less durable and more complicated to repair, which doesn’t help.

@LisaMoore
Demand for parts has increased while supply has dropped due to labor shortages and shipping delays. It’s driving up repair costs across the board.

@LisaMoore
They’re also getting safer, though.

Flann said:
@LisaMoore
They’re also getting safer, though.

Safer until parts fail and leave someone stranded.

Flann said:
@LisaMoore
They’re also getting safer, though.

Repairs are more expensive because modern vehicles are designed to be mass-produced, not easily fixed. Many repairs require removing the cab or dash entirely.

Part of the rise is due to EVs. They’re totaled more often because battery damage sends them straight to the scrapyard. Owners of ICE vehicles are subsidizing this trend through higher premiums.

River said:
Part of the rise is due to EVs. They’re totaled more often because battery damage sends them straight to the scrapyard. Owners of ICE vehicles are subsidizing this trend through higher premiums.

I wouldn’t buy a Mustang Mach-E even if it were ICE. It’s just not appealing.

DFW insurance is ridiculous. I listed my parent’s Houston address for cheaper rates. It’s only a matter of time before they catch on, though.

Kasey said:
DFW insurance is ridiculous. I listed my parent’s Houston address for cheaper rates. It’s only a matter of time before they catch on, though.

Isn’t that insurance fraud?

I was with State Farm for almost 10 years, but they tried to triple my rate. I switched to Geico for just a $10 increase. I’ll probably have to shop every renewal to avoid these spikes.

Turn off data sharing in your truck’s infotainment system and delete the FordPass app. They’re sending driving data to third parties. I didn’t realize it until recently.

Insurance rates have gone up 25–40% recently.

I got a 2023 F-150, and my insurance jumped from $200 to $340 a month. Switched to USAA for $230 with the same coverage.

Fatalities and thefts are up, and repairs cost more. I raised my deductible to save money. Sometimes it’s better to pay out of pocket for smaller claims.

In California, rates are crazy. I pay over $600 a month for three cars and two drivers under 22 with clean records. It’s been tough.

Repair costs are the real killer. I switched from a 1999 F-150 to a 2013 model, and my insurance jumped by $75 a month, even with partial coverage.