Your identify does not must be Luigi so that you can really feel vitriol towards the insurance coverage business, together with auto insurers. Automobile house owners can’t catch a break at all. The common price of full protection elevated by 26 p.c final 12 months, and that is on high of a 24-percent increase in 2023. Understandably, drivers paying by the nostril do not feel like they’re getting their cash’s value and wrestle to have their claims lined after they file them.
What’s your worst automotive insurance coverage story? There are numerous ways in which insurers can benefit from automotive house owners, 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 house owners 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 corporations 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 corporations. Final 12 months, two U.S. Senators despatched a letter to the FTC calling out GM, Hyundai and Honda for gathering automobile information from drivers. These producers would then sell this information for shockingly low sums of money to analytics corporations. Insurers would then use the info 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 corporations within the feedback beneath. You’ll want to point out the 12 months, make and mannequin of the automobile concerned so we are able to make our personal evaluation of the scenario. We won’t wait to learn the horror tales you need to provide.
