May I ask how long you have had your policy? I tried to get Progressive home insurance since I already had their car insurance. I was told they aren't writing them in Florida.

It could be increased if you just moved to Florida. Florida has very liberal litigation laws

Yes and that's who I am with, a Mutual Company. They are like Savings and Loan Associations vs. the big Wall Street Commercial Banks.

Skip.

No, it’s legalized racketeering when you have government in one hand and pigeons in the other.

They raise your rate excessively if they don’t want to be accused of dropping too many customers. It accomplishes the same thing

All seniors can take an online safety course (it takes a long time to complete because the timing for each section is long and cannot be adjusted) but I save about 10% on my Geico premium for 5 years. I have an umbrella thru Geico also. Every time I get other quotes they are higher. Clean driving record, credit score. I'll see what my July renewal is.

please google actuary
/
Primary duties: Actuaries handle financial risk management for individuals, businesses and government organizations. They examine financial costs, assess risk levels and recommend courses of action. They use their background in statistics to collect data, review trends and use business models to forecast future events. These professionals also use their expertise in math to calculate the probability of financial risk and generate charts and reports that show uncertainty. Actuaries often work for health, life or property insurance companies, which rely on their advice to develop policies and calculate premiums. /end

Actuaries create pools of similar characteristics of at risk items, in this case people who own homes, within florida, etc, estimate the risk of payout events happening, and then are used in a profit model within the legal rate structure of the state to determine premiums. Your situation looks like you moved into a different actuarial pool and combined with a different rate structure as determined by the insurance company for the pool. Of course you don't know the characteristics of the pool you are in, so of course you take this change personally.

Its nothing personal about event risk other than the pool you are in, the average premium, the expected proportion of premium price insensitive retainers, and the marketing total pool profit structure of each insurance company. . .

ie, there is nothing personal about the change in rates based upon you, but there is based upon your peers in your actuarial pool, like a very high portion of price insensitive policy holders.

Always shop around and get rid of the assumption in quotes, its irrelevant just as you as an individual are irrelevant to the premium setting.

finance guy

Pricing and Geico Follow ups
 

There is a pricing point called "Price Elasticity". It is the point on a chart where the forecast volumes cross the line of the price. It reflects a point where when the price is increased the sales volumes go down or the reverse. When these two points cross then you have the best price. There are many additional considerations when pricing and this is a basic one. As a follow up to my previous posts I did start looking into leaving Geico in the dust and moving on to a company that is more interested in its clients. I started with Travelers and it's input indicated policies for both an Auto and Umbrella would result saving between $350-400 a year and gaining more coverage's. I am not indicating a commitment to Travelers but rather as a start It is clear there are better ways to go other than the alleged senior abuse provided by Geico. I am more angry with myself for believing the differences were only a few dollars and believing it was not worth my time to look into the alleged subtle price increase. It finally got my attention when the company tried to increase their rates by over 100%+ in one year. Anyone who currently has Geico may want to take a peek to see if you allegedly are also being a part of this outrages price actions?:ohdear:

I almost went with Progressive until the fine print said there is a one time price incentive in their quote which made it look cheaper. The renewal would guaranteed to be higher.

Did you move to Florida recently? It’s important to know that information. When we moved from Minnesota to Florida, the auto insurance nearly doubled. That because many drivers in Florida drive recklessly.

If you’ve been in Florida for more than a year, then it’s time to shop around again for your auto insurance. Your insurance company is betting that’s you’ll stick with them! They can jack up the rates, and many of the long term loyal customers will simply pay the higher prices, no complaints, no questions asked.

Somebody has to pay for all their advertising. You have to factor that into the premium.

Ed, I agree w/the originator as I had a similar situation w/Geico 40+ years ago! If I were you I would never buy a Honda, use the postal service, and only buy Tylenol by the gross as you certainly might need it!!!!

Why your insurance is high. Villages news today. Cheaper to drive without insurance. Everyone else pays. 150 bond is a joke. Shame on the judges

The defendant has been living in Fruitland Park and admitted that he does not have a visa. The defendant does various jobs in the area. The defendant is originally from Mexico,” the officer wrote in the arrest report.

Hernandez was arrested on a charge of driving without a valid license. He was booked at the Sumter County Detention Center and released after posting $150 bond.

What makes it worse in Florida? older population and law suits.

“cause may driver is Florida drive recklessly” and without insurance, on drugs, drunk, and in stolen vehicles.