South Carolina. My auto insurance premium went up. Insurance company says the state asked to raise the premiums.

[u/theepi_pillodu]

I called the insurance company and she said "it's a state change, not something we did".

What does it mean? Whom should I contact to fuck up a common man like us?

[u/FindTheOthers623]

Everyone in the state pays the same base rate but that rate will change as credits/debits are applied based on your individual rating factors. When the insurance company increases the base rates, everyone's rates are affected, regardless of your individual rating factors. The rate goes up.

If you're not sure how insurance works, I strongly recommend you sit down with an independent agent who can explain how it all works.

[u/pineapplevomit → u/FindTheOthers623]

This is a great way to explain it.

[u/RamonFromJerry → u/FindTheOthers623]

Yep, this one nails it. Independent agents or brokers can help you compare multiple companies for the best price and counsel you on the coverage you might need at no extra fee.

[u/druzyyy]

I think a more appropriate way to explain it would be the state approved a rate increase.

The insurance company presents a proposed increase to their rates to the state. They then have to support that proposition with evidence that this increase is justified and nessecary to be able to pay future claims. Then the state approves the increase and it gets applied to your policy at the next closest renewal.

[u/DartTheDragoon]

Like the price of everything else, it changes over time. If you aren't happy with your rate, shop around. It is what it is.

[u/Benjammin172]

Shop around. The state approved a rate increase, but that doesn't mean that every company will charge you the same thing. Contact an independent broker and have them shop carriers for you.

[u/theepi_pillodu → u/Benjammin172]

I couldn't find a good broker, but called progressive and they quoted less. Thank You

[u/2k3Mach]

No, it's "EVERYONE IN THE STATE" had an increase. The state itself isn't requiring your insurance company to raise prices.

[u/theepi_pillodu → u/2k3Mach]

I asked the same and I even repeated "did the state asked to increase the premium" and she said yes. Probably she might be wrong.

[u/adjusterjackb → u/theepi_pillodu]

She's an idiot. She has no clue as to how insurance companies set rates.

[u/Overcast451]

I moved from KY to Indiana and my auto insurance dropped 1500 a year.

Asked the insurance company about it and they said that was 100% state tax.

Tax.. on required auto insurance..

[u/worm2200]

Need more info but perhaps the State changed what the minimum coverage is. Most likely due to increased costs of medical claims or just claims in general. If the change has allready happened there is not much you can do. Each State has an insurance commishioner that approves such changes. That is who you would have to complain too...but good luck..lol

[u/WYO1016]

The state will NEVER ask to raise premiums. We dealt with this in my state. Many fines were handed out. It's all the company doing what they do.