Your identify would not need to be Luigi so that you can really feel vitriol towards the insurance coverage business, together with auto insurers. Automotive homeowners can’t catch a break at all. The typical price of full protection elevated by 26 p.c final 12 months, and that is on prime of a 24-percent increase in 2023. Understandably, drivers paying by way of the nostril do not feel like they’re getting their cash’s value and wrestle to have their claims coated once they file them.
What’s your worst automotive insurance coverage story? There are numerous ways in which insurers can make the most of automotive homeowners, from ridiculous premium will increase to claims rejected for seemingly no purpose. Did an insurance coverage firm refuse to insure your automotive due to the make? That is one thing that occurred to Hyundai and Kia homeowners two years in the past when thefts spiked by 1,450 percent in St. Louis after which unfold nationwide because the Kia Boyz social media pattern made tens of millions conscious of an automaker safety exploit.
Insurance coverage firms purchased your driving information for subsequent to nothing
Your hard-earned {dollars} aren’t the one factor insurers are taking? Automakers are additionally promoting our information to insurance coverage firms. Final 12 months, two U.S. Senators despatched a letter to the FTC calling out GM, Hyundai and Honda for gathering car information from drivers. These producers would then sell this information for shockingly low sums of money to analytics companies. Insurers would then use the information to set the charges for particular fashions. Hyundai made 61 cents per automotive from promoting driving information, and Honda took in 26 cents per automotive. Quickly afterward, GM stopped gathering driving information.
Do not maintain again, however please do not make actionable threats in opposition to executives. Inform us about your worst interactions with automotive insurance coverage firms within the feedback under. Remember to point out the 12 months, make and mannequin of the car concerned so we will make our personal evaluation of the state of affairs. We won’t wait to learn the horror tales it’s a must to supply.
