I just got my HO remewal and my premiums for base coverage and all endorsements doubled! Premium went from $2750 to $5290! My home is in great condition and I pay my policies 6 mo at a time and have been with them for 11 years. Auto coverage went up a bit but cannot figure why the HO policy went up so much! Having to look elsewhere for insurance. They priced me right out of their market
Same here I just cancelled my 2 cars and motorcycle policy last night. For 2 cars bare minimum liability accident ticket free it Went from $700 to $941 in first 12 months and now they just tried raising it to $1560 with no warning!!! They hope auto pay would pay it without even giving customers a heads up before doubling the price of my year plan! They wouldn’t lower it by one cent on the phone either they blamed inflation well guess what my salary didn’t double and my bill ain’t doubling so I cancelled it all and cancelling house insurance and all 10 of my biz trucks and extended family. They have to know this is happening must be a long term plan all these illegals wrecking cars illegally driving is part of it
Signed with Liberty Mutual Oct 2021, cars and home. Great savings on car insurance. Smaller savings on home. First renewal wiped out those savings. Now in 2023 a second big rate increase has sent me shopping again.
I quit working there because of the BS it puts customers thru.. Liberty just interested in new business, I was told do everything you can to get customers off the phone. Tell them go online to do stuff. If they don't want you, they'll jack up your rates or force you to sign all kind of forms. Miss one form or even have one payment go past due, they force you into non-renewal or cancellation. Peeps I know working there said now Liberty switching to six month auto policies so it can apply price increase even quicker.
Those basta*ds just raised my house insurance $300. I live in Massachusetts and never ever file a claim. Can anyone suggest a good company for house insurance because I am leaving Liberty Mutual and can't wait to call them to tell them. PS...they told me it was because lumber etc prices went up and it would cost more to rebuild my house.
Today is July 5, 2024. I'm in the unregulated state of Virginia. Liberty Mutual emailed me that my rate will increase from $1182 to $1448 next month (up 22.5%). I'm being victimized to make up for bad management and possibly to balance smaller increases in states with consumer protections. I have not received the paperwork, so I don't know if there is a notice of adverse action coming. I received these from my motorcycle insurer and from the insurer of my second home when I paid off my mortgage and car loan. They stated that since I had no current loan payment history, they had no way of evaluating my reliability. How about the fact that I never made a claim on any homeowner's policy or motorcycle policy?? How about my FICO 9 score of 826? Sorry if I offend you, but I consider all insurance a criminal enterprise. Thirty seconds after I find a cheaper homeowner's insurer I will no longer be a Liberty Mutual john.
I had three cars insured with Liberty Mutual. I sold one, removed it from the insurance, and yet it caused my premium to increase. Granted my rate is one of the lowest I've found. Love their app.
The reason is that the second multi-car discount has been removed. When you add a car, it adds an additional one to the policy, and this affects all the vehicles included.
Dear Think Insurance, I'm 64 years old. I haven't drive for the last 20 years. I've been looking to buy a Honda Element (2007) Never had an accident and my credit score is excellent, live in Queens NY. I called Progressive and they charged me close to five thousand a year, that is a lot of money and they cover you for 6 months and then you have to start with a new policy. Is all of this normal????? Thank You for your response in advance.
It sounds high. I would verify they are able to pull your insurance score otherwise I would try Main Street America or Erie. Either way once you’ve been insured for 6 months you will likely get Better pricing next time you shop
So standard insurers (State Farms, Nationwides, and Allstates) are carriers that are a bit more particular as to the type of drivers they prefer to insure. 75k+/ yr income, No MVR or Clue activity for 3+yrs, multiple lines of coverage per policy...you get the idea. Non standard insurers can take on more risk, pretty much everyone else who doesn't fit what a standard would want.
@@emissary_kyle Last year, Geico closed all of its offices in California and also restricted the issuance of new policies in at least 14 other states. The names of these specific states are unknown to me.
Recently got a quote for my 2022 Highlander…. Geez! It is a highway robbery! I have to pay a one time $530… then afterwards $330 every month for comprehensive coverage. Is this company insane? Do you think is there a stupid person out there that will pay for the same quote they gave me? 🤔
That's crazy , I just spoke to then today. I have a old car and good driving record. I'm on social security, last year I was paying $73 a month than mine went up to $123 a month that's a big increase for a 20 year old car. I'm on a fixed income. Good luck to you.
All carriers in general are experiencing shopping pressure. Many have the lowest retention in years. You have said you get what you pay for- so LM says only pay for what you need? Does the typical consumer really know what they need? Unlikely! Do they focus on cheap and when it doesn’t cover the loss fully cry foul. Carriers are losing tons on losses right now - cost of all aspects increasing exponentially. Of course this results in higher rates.
@@ThinkInsurancehaha! On a serious note, I have a LM policy and they’ve been great. I’ve been contemplating about going into P&C, but would I be able to part time on the side to build up and eventually move full time?
LM maintained more steady rates during covid and people joing like crazy. then as other companies have had to cut prices like crazy to get customers, so LM is losing ton of customer not willing to cut rates...LM as a MutualFund company isnt looking to compete against the basic insurers. amfam. erie. harford. LM. "get what u pay for"...exactly. cheap 6 mo compaies are good if u like playing hot potato with companies. you cant even broker LM policies...
My car bill increased even without any traffic violations
I just got my HO remewal and my premiums for base coverage and all endorsements doubled! Premium went from $2750 to $5290! My home is in great condition and I pay my policies 6 mo at a time and have been with them for 11 years. Auto coverage went up a bit but cannot figure why the HO policy went up so much! Having to look elsewhere for insurance. They priced me right out of their market
I just dumped them after finding out they have ben gouging my Homeowners Insurance fees by over $2100 a year!!!
10 % try 100% in 2 years. That's nuts
Same here I just cancelled my 2 cars and motorcycle policy last night. For 2 cars bare minimum liability accident ticket free it Went from $700 to $941 in first 12 months and now they just tried raising it to $1560 with no warning!!! They hope auto pay would pay it without even giving customers a heads up before doubling the price of my year plan! They wouldn’t lower it by one cent on the phone either they blamed inflation well guess what my salary didn’t double and my bill ain’t doubling so I cancelled it all and cancelling house insurance and all 10 of my biz trucks and extended family. They have to know this is happening must be a long term plan all these illegals wrecking cars illegally driving is part of it
@@celebratecrypto3693exactly! They are hoping we wont notice.... .arseholes
Signed with Liberty Mutual Oct 2021, cars and home. Great savings on car insurance. Smaller savings on home. First renewal wiped out those savings. Now in 2023 a second big rate increase has sent me shopping again.
I quit working there because of the BS it puts customers thru.. Liberty just interested in new business, I was told do everything you can to get customers off the phone. Tell them go online to do stuff. If they don't want you, they'll jack up your rates or force you to sign all kind of forms. Miss one form or even have one payment go past due, they force you into non-renewal or cancellation. Peeps I know working there said now Liberty switching to six month auto policies so it can apply price increase even quicker.
MO, DE, IL, NY, PA, MD, MI and WY are either suing Liberty, imposed fines or told the company to get its act together or else.
Those basta*ds just raised my house insurance $300. I live in Massachusetts and never ever file a claim. Can anyone suggest a good company for house insurance because I am leaving Liberty Mutual and can't wait to call them to tell them. PS...they told me it was because lumber etc prices went up and it would cost more to rebuild my house.
Hartford Insurance is way much better compared to greedy Liberty Mutual.
You have to be an AARP member to get special discounts
I am so happy I no longer work with liberty mutual anymore. Taking calls about rates for 8 hours a day was literal torture.
Today is July 5, 2024. I'm in the unregulated state of Virginia. Liberty Mutual emailed me that my rate will increase from $1182 to $1448 next month (up 22.5%). I'm being victimized to make up for bad management and possibly to balance smaller increases in states with consumer protections. I have not received the paperwork, so I don't know if there is a notice of adverse action coming. I received these from my motorcycle insurer and from the insurer of my second home when I paid off my mortgage and car loan. They stated that since I had no current loan payment history, they had no way of evaluating my reliability. How about the fact that I never made a claim on any homeowner's policy or motorcycle policy?? How about my FICO 9 score of 826? Sorry if I offend you, but I consider all insurance a criminal enterprise. Thirty seconds after I find a cheaper homeowner's insurer I will no longer be a Liberty Mutual john.
I had three cars insured with Liberty Mutual. I sold one, removed it from the insurance, and yet it caused my premium to increase. Granted my rate is one of the lowest I've found. Love their app.
The reason is that the second multi-car discount has been removed. When you add a car, it adds an additional one to the policy, and this affects all the vehicles included.
I called them they were so kind
Dear Think Insurance, I'm 64 years old. I haven't drive for the last 20 years. I've been looking to buy a Honda Element (2007) Never had an accident and my credit score is excellent, live in Queens NY. I called Progressive and they charged me close to five thousand a year, that is a lot of money and they cover you for 6 months and then you have to start with a new policy. Is all of this normal????? Thank You for your response in advance.
It sounds high. I would verify they are able to pull your insurance score otherwise I would try Main Street America or Erie. Either way once you’ve been insured for 6 months you will likely get Better pricing next time you shop
Here in SC, I don't believe standard insurers make sense here. Progressive and Geico are dominating.
Do you mind elaborating on that? Now I'm interested in what you mean.
So standard insurers (State Farms, Nationwides, and Allstates) are carriers that are a bit more particular as to the type of drivers they prefer to insure. 75k+/ yr income, No MVR or Clue activity for 3+yrs, multiple lines of coverage per policy...you get the idea. Non standard insurers can take on more risk, pretty much everyone else who doesn't fit what a standard would want.
@@emissary_kyle Last year, Geico closed all of its offices in California and also restricted the issuance of new policies in at least 14 other states. The names of these specific states are unknown to me.
ceo salaries 15,000,000 +
Gotta take care of the little guy
8 months later the layoffs have begun, i feel like I’m on a plane with a drunk pilot. The company is pretending to have a plan but I don’t think so.
Recently got a quote for my 2022 Highlander…. Geez! It is a highway robbery!
I have to pay a one time $530… then afterwards $330 every month for comprehensive coverage.
Is this company insane?
Do you think is there a stupid person out there that will pay for the same quote they gave me? 🤔
That's crazy , I just spoke to then today. I have a old car and good driving record. I'm on social security, last year I was paying $73 a month than mine went up to $123 a month that's a big increase for a 20 year old car. I'm on a fixed income. Good luck to you.
30% rate increases is the new normal in this hard market. And book shrinkage is the new path to profitability.
BOOK shrinkage???
@@barbarablackmon7807 It's means to cancel/non renew policies.
All carriers in general are experiencing shopping pressure. Many have the lowest retention in years.
You have said you get what you pay for- so LM says only pay for what you need? Does the typical consumer really know what they need? Unlikely!
Do they focus on cheap and when it doesn’t cover the loss fully cry foul.
Carriers are losing tons on losses right now - cost of all aspects increasing exponentially. Of course this results in higher rates.
I love this RUclips channel!
they are so greedy!!!
How long car insurance laps ( late payment,no accident) take to remove from record ?
6 months of having insurance will be enough for prior insurance. Late payments don’t make that big of an impact if any
@@ThinkInsurance
Thank you so much
Have you considered changing your hairstyle?
I thought about going full fro for a few months and then dread locks 🤔 or man bun and look like a Hawaiian 🌺 🤔
@@ThinkInsurancehaha!
On a serious note, I have a LM policy and they’ve been great. I’ve been contemplating about going into P&C, but would I be able to part time on the side to build up and eventually move full time?
LM maintained more steady rates during covid and people joing like crazy. then as other companies have had to cut prices like crazy to get customers, so LM is losing ton of customer not willing to cut rates...LM as a MutualFund company isnt looking to compete against the basic insurers.
amfam. erie. harford. LM.
"get what u pay for"...exactly.
cheap 6 mo compaies are good if u like playing hot potato with companies. you cant even broker LM policies...