[dovstar]

State Farm recently increased the insurance on my 1999 v70 glt by about $100/yr claiming that this model as a whole has a higher rate of claims and higher cost than previously rated. Has anyone else experienced this?

I know State Farm paid a lot of Katrina related claims last year and only had a 600 million $ profit in 2005 as compared to the 3 billion $ profit in 2004, but it would be cynical to think that they're looking for ways to make more money?

 

[dovstar]

Re: 1999 V70 insurance increase (JRL)

I understand that european cars do cost more to repair and will always cost more to insure, but when I asked State Farm why the insurance on my older BMW has steadily gone done year after year all they said was that each car is rated individually, blah, blah, blah...

 

[dovstar]

Re: 1999 V70 insurance increase (dovstar)

The insurance company claims this increase is because this model specifically has higher costs to insure and has nothing to do with me. Time to look around but cheaper isn't necessarily better since it's all about the fine print.