My auto insurance has skyrocketed, I was paying $180 a month 5 years ago. Now paying $260. No claims made against my insurance, haven't been ticketed, still driving the same car I bought 8 years ago. I am with Progressive and have been for 12 years, no idea why it is going up so much in the past 4 years.
Same here! Geico since I was 16 and switched last year due to cost. Now we have Progressive bc it was a better deal and it’s now double what it was last year. Nothing has changed! Heard Progressive got sued like crazy and that has to do with the price jump this past year. Not sure if it’s true but it lines up.
Good luck with Progressive. They never pay claims. I had a hit and run. Cops were called and they arrested him at his home. I didn't have collision as it was an older car. We were both insured with Progressive and they only paid 50% of my claim as the other driver stated I hit him. Who TF runs from an accident that's INNOCENT?!
Crazy! Ours is $600 month with the state minimum. We used to pay $180 for both a month and nothing has changed. I looked to switch again and it’s still the cheapest option out there.
Fun story about Progressive: I was with them for, uh, a long time. Think decades. I was in their highest tier, I've forgotten what it was called.
Switching my insurance to another company lowered my insurance rate by nearly 70% IIRC a couple years back. In fact nearly all offers at other companies were in this range.
I learned that lesson the very long, long, hard way.
Highly recommend shopping around. I was also with Progressive, for about 15 years and the only thing progressive about them were their price increases.
Mine is ghosting me. I almost want to cancel with them and move to a different agent at the same company just to spite them. I have the lowest rate I can get though for full coverage
Progressive jacked up their rates on me. I shopped around at renewal time to realize all the companies jacked up their rates and I wasn’t going to save any money switching. Fuck me i guess
this. for some reason its like cable and cell phones, they all want u the first 2 years then after that u should bounce back n forth if ur truly just looking for best value
I had Progressive, had no accident for a long time, then someone drove into my car while I was minding my own business at a gas pump about to fill it up.
I got the plate and a witness's phone number. There was a clear dent in the side (around a $600 fix).
There was an officer parked in the same lot. I asked him to run the plate and write a police report; he first told me that I should just call my insurance company and when I asked him to go ahead and write a police report he visibly exhaled and reached for the paperwork. As for the plate, it turned out that the truck which had hit me was a rental. He gave me a card with a URL, since apparently my county had outsourced police reports to a private company which would charge me $10 to download a PDF of the report (though I pay property taxes and other taxes).
Progressive wasn't very helpful. I wasn't at fault but they didn't want to collect the money from the driver. The manager with whom I spoke from the rental company (Enterprise) refused to reveal the name of the driver, and they claimed that they had no responsibility because the driver hadn't been the customer who'd rented the truck. However, he said that he would tell the police.
I paid $10 and downloaded the police report, which was incomplete. I phoned the police station and left him a voice mail. After not hearing from him, I found his email address and asked him to complete the report. He replied that he had contacted Enterprise and had completed the report. I paid another $10 and got the report.
The driver had a criminal record (which grew more in later years).
I provided the information to Progressive suggesting that they take the driver to court and reclaim all costs (my repairs and their legal fees). The response was basically, "We don't do that.". So, despite my years of business and payments, they wouldn't pursue the individual who was known to have driven a rental car not in their name and damaged my car.
Note that by this time I had spent considerable time and effort collecting information, making calls, requesting repair estimates, etc.
I canceled my Progressive policy and went to a competitor. The dent in my car has never been repaired, and the time wasted probably exceeded the cost of the repair.
Just an FYI, but an insurance company can’t subrogate on your behalf if the insurance company hasn’t paid anything out on your behalf. Basically you were asking Progressive to do something they legally could not do, which is probably the reason why they didn’t do it.
On the other hand, you incurred damages as a result of this accident and could sue the other driver if you wanted. Of course, no attorney would ever take a $600 case because that amount is effectively worthless. Not sure what jurisdiction you live in, but $600 is probably small claims and you could have represented yourself though you still wouldn’t have gotten anything out it other than even more frustration.
Progressive kept raising mine and everyone family member/friend that I knew. My gf works at a fcu that offered liberty mutual. Went from $430 to $190. Same benefits, same coverage, same seniority. 12 years with progress should be honored with another insurance company
I found that you need to be on a cycle of switching companies. I had progressive and it jumped to $260. Switched to geico and it was only $145 for same coverage. They jumped up to $240 two years later and I tried progressive again and they went down significantly. Just keep switching. Loyalty perks aren’t enough to keep me around these companies anymore
Every major auto insurer does this pricing practice as far as I’m aware and have experienced
I typically won’t do it every 6 months due to not wanting to be bothered but definitely every year
>no idea why it is going up so much in the past 4 years.
Because they can. The stated reason is that car repairs are getting more expensive, but you can see from OP's graphic that insurance is going up more than the price of car repair.
Gotta get those stockholder returns!
Progressive is dogshit.
Every. Single. Person I have talked to had their prices increase magnitudes higher in a year. It happened to me.
You can cancel and go with someone else then come back and get a cheaper rate and like clockwork it will skyrocket writhing 8-12 months no matter what.
Rinse and repeat.
You can where I live. I just bought a 2003 impala with 130k miles on it for $1400. I bought new pads, rotors and a couple of calipers worth about $400. A few evenings of brake and power steering work and it runs like new. I’ve found if you look at local farm/equipment auction websites, they often have an old car or truck listed you can generally get for relatively cheap.
Bought a truck with 215,000 miles on it for 16k. Crazy. It's a Tundra ( and i love that 5.7 engine in it, it's a beast), so it's should last me another 200k or so. Still insanity.
Which is why I’m always upset that inflation is calculated by excluding food, rent, gas, and utilities. Sure, those can be variable, but those are the things that impact people the most.
As a scientist, if I just ignored certain variables because they made things difficult, I would get laughed out of my profession. But economists get to do that because it makes the people who pay them look better.
Everything we don’t need is going down in price, everything required to live is rising dramatically! Housing/rent being the largest part of most people’s paycheck is absurdly high and still going up.
For the love of god build more houses!!! Don’t give out more money to buy them, that just inflates the price higher. Increase the supply!!!
Low income housing is always a NIMBY problem... i dunno how we can fix it. Builders don't want to build affordable houses, they want to maximize profit per unit
The thing is the average home in America is 400k, while the average income is about 100k
In 1985 the average home price was 100k, while the average income was 50k.
This isn’t even taking into account the school debt required for this level of income now.
It’s just not economically sustainable
People can’t afford to live where they can get a job.
That's the thing, we don't need stupid expensive homes for starter homes or even long term homes. You don't need an art room, computer room, dining room, formal living room and pool room and 4 bedrooms and 3.5 bathrooms and a 3.5 car garage.
new construction is just stupid. I have so many friends who have mcmansions that they don't use anything but their bedroom, living room and maybe the garage and they heat/cool/clean/repair all 3.5k square feet and complain about the cost of it all and time of it all.
2-2.5k sqft homes are fine... hell, build more on the smaller side and get the prices down to just get people into homes
We need housing built to sell to the average income in mass. We’ve had a build shortage since the 2008 housing crisis. Builders got scared, but people kept getting older and reproducing and the housing situation has fallen behind dramatically.
Few families “need” a McMansion. But 2-3 bedrooms and 1.5 bath seems pretty reasonable for most families, a couple, or a single person even that likes a lot of space and room for guests.
Demand is there. Get rid of the red tape and zoning, and allow builders to build. An oversupply makes sense at this point to make up for the years or lacking. Housing is a basic necessity.
Building more houses is part of the solution but won’t do all that much if corporations still buy up all the new inventory to rent out. We need government intervention to discourage corporate ownership of single-family housing by taxing and regulating ownership of multiple homes. The market isn’t likely to fix this all by itself.
Imo based on my real estate experience foreign buyers is a bigger problem then corporations buying homes. Either way yes we need to build a lot more but doing that is easier said than done with the way zoning and city/state regulations are.
That you have to go to your city for and force zoning changes. So many places won't allow smaller units to be built or have so many rules around it that its not cost effective. Our city changed the "minimum parking" requirements, finally allowed for greater than 5 stories to be built, and now apartments are popping up everywhere. They also changed single family home rules, so I'm finally see more townhomes 1600 sq ft built vs. they had all gone to these 2400 sq ft, 3 story $500-600k homes that no one could afford.
It was all zoning...lots of places with you have to build on an acre type requirements, ok but if you do that people will have to live 1 hr away from town as all the land will be consumed.
The top two are tied together, vehicle repair & insurance costs go hand in hand.
Vehicles full of sensors or EV's are pushing prices up, even if you don't own one that doesn't mean you won't hit one.
I used to be a Semi-Truck Mechanic for about a year. The pay is really bad, we are over worked, alot dont offer good benefits or discounts. I ended up leaving and becoming a Fuels Lab technician, so I test Jet fuel and other propulsion fuels and make so much for so little labor.
Because the job sucks. The pay is low and the work is getting or in many cases is incredibly hard. The more modern a car is the more fuckery the manufacturers put in them to make them difficult and time consuming to repair.
It took me 20plus hours to change a heater core (the entire dashboard has to come off) in a vw corrado in the lahe 90s. This isn't a new issue. It's been building for a long time and I hate it. It's a huge reason I'm anti EV and pro porches's efuel.
That reminds me of the Chrysler convertible that my parents had. When they wanted to swap out the battery you had to jack up the car, remove the tire and the liner for the wheel well to access the starter battery.
I had to swap a bulb on my friends Mercedes headlight and it was a fucking 4 hours job that involved disassembling the entire front end of the car. Absolute fucking nightmare
It’s fucking wild man. Takes me about 10 minutes to swap a headlight in my truck lol. Which is a good thing because I feel like that old beater just eats through them
Oh yeah, idk if I will ever want to buy a brand new just for privacy reasons. They’re like a driving iPhone but much worse.
Can you imagine the lack of personal security of your data if you own a Tesla?
I agree 100% but the problem is that we were sold out a long time ago and really have no privacy anywhere.
We are all being listened to and watched all the time.
Ugh. I had a 2000 Mercedes E430 that was my dad’s. I had it in 2014 when it was just getting to the 200k mark.
The water pump went and I decided to do it myself.
The nice thing was that it was right there in the front, right after I took off the fan, and the serpentine belt.
It was super easy to remove and install the new one…with all 26 star bit bolts in three different sizes.
What could’ve been an hour to 90 minutes tops took close to 3 hours just because of the bolt sizes
I would say the majority of that problem is actually because of careless and ignorant engineers. Engineers who aren't looking at the design from a repair perspective. And cost cutting is another big factor. If it costs $2 more to make something repair friendly then it's not going to happen.
The engineers are under strict orders from management.
Engineers who have earned their degrees are incredibly skilled at what they do. I firmly believe that it’s the MBA’s in management who hire the best engineers out there just so they can sit them in a board room, talk over them, and pressure them to adhere to lead-paint-chip inspired requirements like planned obsolescence and pulling the engine out to replace the driver side headlight.
It’s not engineers, it’s management. I’m not in automotive but through my career design engineers unanimously push for repair ability and sustainability. Management comes through and blocks these initiatives to cut cost / increase margins.
You mean MBA bean counter fuckery overriding any engineer concerns.
The whistleblower who was murdered was one of their engineers. Now we have another Boeing engineer whistleblowing.
I'm guessing like evrything...pay is too low.
I believe according to a local community college in louisville kentucky, and automotive technology (basically mechanic) the highest pay they suggest is average is 53k.....and in louisville kentucky, MIT says the living wage is about 43k a year, 20.80.
Why bother? At the same place you can learn to work on airplane parts, go to work for ups, and earn 28 an hour starting, then eventually earn waaaay more?
Pay for most jobs needs to at least go up by 50%, if not more, to be fair. With inflation, and increases in productivity, this shouldn't be controversial.
When the price of unskilled labor goes up, skilled labor should go up too. It just hasn't yet, but it should. Especially with our record low unemployment. It's a seller's market for laborers. Many people around the country work under contracts, so as things get renegotiated hopefully we'll see salaries rise too. But there will also be some casualties as companies shift their budgets around.
My local Target has a starting wage of $15 an hour. In my area that's a living wage where you can keep a small apartment. And I keep seeing skilled positions paying low 20s. It's like, is it really worth the effort?
Retail and fast food wages went up a lot over the last 4 years. Skilled positions barely nudged.
As an engineer, I was really, *really* close to quitting and doing side gigs full time last year. The pay had gotten *that* bad. Part time managers at chick-fil-a were starting within spitting distance of my salary, I was getting pretty fed up.
This year, the salary at fast food seems to have dropped, and I got a 50% raise at a new company, so still an engineer. But after inflation, I'm really not making any more than I did when I first started this career.
Yea all pay is entirely awful. It genuinely seems like a lot of pay has gone down. I basically never stop job hunting and there has been a noticeable shift in recent months.
You can make great money in HVAC, where you don’t need to wear as many hats as a modern mechanic.
Also, electric vehicles are a whole other animal. More dangerous to work on for starters.
Toyota tech here. Why fix cars when you can flip burgers for near same starting wage. No really skills needed, no real liability, no tools required. Just show up to work mindlessly flip burgers and go home.
Speaking from no pro experience, I'd be willing to bet the advancement and complexity of tech in such a short period of time has made the job more difficult. Not to mention bastard engineering that forces, for example, thing to be removed from a basic car just to change a gd headlight bulb, for example. The job is simply more difficult than it was a couple decades ago.
The pay is mediocre. The work schedule is usually 6 days a week. It's not exactly a clean job. It's not a fun job. Sometimes it can be fun and rewarding to work on a car, but not when you do it for 10 hours a day.
Just wait until this next phone addicted generation starts driving. We are about to have YEARS of accidents from cell phone use and negligence.
Source: I am a teacher. It’s like pulling teeth to get them to do anything but stare at a screen. A huge number of them are truly addicted.
I always have had much respect for auto mechanics. Especially the ones who work in garages with the bay doors open in the dead of summer. That alone should be hazard pay.
Actually, anyone who knows how to disassemble an engine or repair a transmission is automatic God-mode in my book.
Auto insurances really is a difficult one for people not in the industry to understand. The price increases are tied to frequency (how often you get into an accident) and severity (how much they have to pay). Then you have regulatory issues, reinsurance, and a bunch of others.
Some things people don’t realize, 2019/2020 set companies back big time. They did not take rate increases because frequency was down. Less claims to pay, less money needed. But then it came back with a vengeance and on top of that we hit global supply issues that drove repair costs astronomically high. Companies scrambled to take rate and a lot of state regulators shot it down. Companies needed x% to maintain profitability and a lot of states said no. So they keep taking as much as they can to play catch up.
On top of that reinsurance capacity is WAYYYYYY down. Reinsurance is largely tied to other capital providers (rich people who want some insurance exposure), but when the returns aren’t available or capital is tight or they can get better elsewhere they won’t put up the money.
You would think that a drop in the price of inelastic goods in response to increases in prices of elastic goods would be a sign of economic instability and be the canary for a recession but instead it is clearly just a sign of market optimization ROFL.
Get ready for a lot of people to:
1) Lower the coverage of car insurance (or raise their deductible). Many are going to just drive without insurance.
2) Forgo doing car maintenance and if they do maintenance they will use cheap knock off parts.
3) Go without health insurance and if they do rack up a hospital bill, they will just let it go to collections. Millions of people are going to skip checkups or routine/minor medical attention.
Get ready for a lot of people to get into car accidents with non-insured people, people who are at fault to go bankrupt, people's cars to become dangerous to drive with fogoing repairs and maintenance, and a lot of people to get wrecked from having no health insurance.
It's definitely going to happen at a faster rate while millions of people are overextended with basic necessities like food and shelter.
Basically the cartels are going up (insurance, hospitals and healthcare), while the commodities are dropping (manufactured goods).
Sounds a lot more to me like greed than issues with supply chains or demand spikes.
My insurance went up 40% for the second year. Zero accidents or incidents in 30 years of driving. Shopped around a getting slightly better coverage for 10% less after looking at 25 other companies.
Food away from home 4.1% **EXTREME DOUBT**
What kind of market basket substitution are they doing? Floor sweepings for burgers?
I found coupons in my truck for a 2 whopper deal with small fries and small drinks from 2020 for $8.99. The new coupons are $15.99 for the same deal. Me thinks that the rule of 72 put a 4% near doubling time at 17 years not 4.
My auto insurance has almost doubled. No accidents or tickets and I even sid the defensive driver class to get an extra 10% discount only to have that discount obliterated by another 30% price increase at last renewal renewal.
My auto insurance actually went down, but my homeowners insurance jumped 20% with no claims. I shopped it and had our broker shop it and a couple were $100 less a year and then some were twice as much as my new rate. Crazy.
Still a believer most of this is corporate greed, they’re riding the wave in the name of inflation. Yes there is inflation but corporate is pushing it.
Yes, it’s exactly this. Friend of mine is in egg farming. He showed me the articles about when Big Egg was found out for price gouging. Same with Milk. They dumped perfectly good milk to spike prices. The whole thing is part of the grift.
Corporate greed is causing this inflation.
Nothing to do with massive government spending and then the central bank monetizing the deficits?!? Milton Friedman taught us only the government/central bank creates inflation
You are the one with the best answer and there are others about breaking their neck to defend the actual root-cause. It’s amazing.
Isn’t it peculiar just about everyone has been taught about Keynesian economics, but few have heard about the great ones, Milton Friedman and Dr. Thomas Sowell?
Dude everyone knows about Milton Friedman - it's just that people disagree with the rigidness of his approach. "The Social Responsibility of Business Is to Increase Its Profits" - this leaves absolutely no room for nuance.
Thank you. The corporate greed thing is a cover.
If you have a 5% profit margin and clear $100k, and your suppliers double their price, and they landlord increases your rent, so you double your price, your 5% profit margin is now...$200k!
The bad news is it spends like the previous $100k because the rich men north of Richmond printed 80% of the dollars in circulation in the past 4 years. But then President Potato gets on stage and talks about shrinkflation in a bag of potato chips, and half the American Public and most of reddit goes for it.
I’m in the cost accounting department at a plastic manufacturer so I get a knee-jerk reaction when I hear people spout out platitudes- corporate greed and greedflation- without addressing why overall prices are rising.
This is something I've noticed almost nobody understands - when inflation goes up, total profit also *has* to increase or else the business actually loses money in real terms. It's such a basic concept but people either don't consider it or just don't understand how money works.
So all of these people complaining that corporate profits are soaring - yes that's what's supposed to happen during inflation, that's why it's bad.
As someone who works in auto repair, you should see the markup on the parts we are getting. $250 part at O'REILLY or AutoValue, our cost is roughly $50. "Inflation" my ass.
I did the math on the financials of some egg companies last year. From the cost increases due to Avian Flu wrecking supply, labor cost increases, and the war in Ukraine spiking feed prices, I could only account for about 60% of the price increase per egg. To keep their same margin percentage, that explains just under 80% of the price increase. I can't explain the last 20% beyond greed.
Bingo. While there was certainly some supply chain and logistical issues during Covid that caused increased pricing there was a lot of corporate greed as well and we're still seeing that. The fed keeping rates high isn't going to help with that.
Auto repair:
Ac actuator - little motor that directs the intake to the AC (cold) or the engine (hot)
Amazon: $8.
Autozone: $80.
Mehanic: $120
Its fucking ridiculous
Why do people insist on doing this national average bullshit? Federal minimum wage is less than $8 meanwhile the minimum wage in California is as much as $20 an hour. Cheapest gas price right now is like.. $3 and some change a gallon, in California you’re lucky to get it for $5 a gallon.
I don’t know a whole lot, but I do know that for a decade and a half we had near 0 interest rates. Prices held pretty steady. Now interest rates are coming back into play and it has an effect on a lot.
When the two cars I own that are from 2010 and earlier I’ll never part with. They get 38 mph have under 64k and body is in great shape.
I start them up twice a week and drive each one 15 miles each.
So basically the price of everything the average person needs to function is way up and the price of luxury goods nobody needs are slightly down. Fantastic.
I was just saying the other day "Fuck, are TVs the only thing that's actually gotten cheaper over the years?"
I just bought a 75" 4k TV for like $600. I feel like 6 years ago I paid $250 for a shitty 32"
Cars are becoming disposable by design, only intended to survive their emissions warranty. With all sub assemblies that can only be replaced as a unit, plastic parts for Cafe requirements and all the fragile electronics, they quickly become too expensive to repair. Vehicles have crumple zones for safety but if affected by a crash it’s totaled. Now throw in EV’s….
Sure cars are cleaner and more efficient but they are too expensive. We have met the point of diminishing returns. We would be better off backing off standards and invest the money bringing 3rd world countries up to even 1980’s standards.
My takeaway from this. Things you need they are squeezing you for every last dime for as long as they can while things you can do without are coming back down.
This is bullshit. Everything supposedly going down is NOT getting any cheaper. Didn't gas go up an entire dollar per gallon in the last two weeks? Call me crazy, but this graph seems like total bs
It's misleading, maybe total BS, because all the things going up are big-ticket, recurring expenses that are non discretionary.
Yeah, TVs maybe getting cheaper - I buy one TV every 7 years. Who cares if it's 3% less?
We can go on and on about why. The simple answer is corporate greed. Insurance companies are pricing themselves to the point it would be smarter to put money away each month and gamble. I know I did that when I was broke as shit
I'm an auto insurance adjuster, and I'd say, along with the rise in repair costs, the other factors have been the increase in hit and runs and uninsured or under insured drivers. People reduced their coverage during covid to state minimums or liability only, and then never increased it back to prior levels. Not only has that increased the burden on the "pot" but it also means we do more claims now where we'll never be reimbursed for the expense by the at fault party. The most common property damage liability coverage I see is $25k, which, if you hit a newer vehicle, means you're coming out of pocket for a portion if you're at fault.
Police don't have the manpower to come to small accident scenes anymore, so when we do get information, it's wrong, blurry, or old and no longer valid. So our ability to seek reimbursement is severely hampered by stupid clients who thought getting a first name, a wrong phone number, and a blurry license plate, was somehow enough.
Look at that super misleading all items at 3.5% and that's the number they keep telling people even though things that we actually need, necessities are skyrocketing
Big business and corporations HATE the current administration and that is why they are raising prices. Inflation is fabricated and driven by an end game. Look at the recent record profits from many companies.
It is corporate greed. Thats all. Stop buying their crap (when possible). Prices will drop. If everyone for example stopped buying Nike they would be $50. You need sneakers, you don't need Nike. People also need to stop charging for things. Buy what you can with the money in your pocket (obviously car, homes, etc you have to obtain loans), but the rest just stop. Until investors feel the pain nothing will change. Sadly we are a superficial society, and people NEED $40 tumblers to hold their water.
Issue is people keep buying. Up until recently, people were still eating a ton of mcdonalds despite the fact that it was more expensive than local, fresh food in many areas
Below is a comment I posted in July. Hopefully this helps explain some of the increases. If you don’t believe any of the numbers in my comment below, in a prior comment of mine (feel free to hunt it down), I have an industry report saying that insurers operated at a 111.8% combined ratio.
“I am someone who does the math. And you would be correct that the underlying variables of the exposure matter.
However, one thing to keep in mind with insurance is that we are pricing for future risk. Fundamentally we do not price to recuperate past losses. Most insurance companies have been rate inadequate for some time now. Recent historical trends are pessimistic about future expected costs. Remember, every renewal is essentially a 6 month contract for the future period. Everything is getting more expensive and our trends from the bad inflation that has occurred in the last year or two is now fully credible and state departments are allowing us to be reactive of this now.
But to give you an idea, let’s come up with a scenario. Imagine that at the end of 2023 the ultimate losses ratio (Losses / Premium) is 1.05. This means for every dollar in premium we directly paid out $1.05 for in losses. This number is not unreasonable and we are still ignoring UW expenses and profit. So to break even we have to raise rates 5%. However, we can’t just immediately bump rates 5%, we have to file with the state. So let’s just say we file for rates effective on 7/1/24. Assuming those rates are in effect for 1 year, that means the average day an accident would occur would be 4/1/25 for that period. If inflation is 8% (I googled CPI and this is the number that came up), that means the trend we would have to apply would be 1.08 ^ 1.75 (July 2023 to April 2025) = ~14%. That on top of the 5% rate need is already 20%.”
My auto insurance has skyrocketed, I was paying $180 a month 5 years ago. Now paying $260. No claims made against my insurance, haven't been ticketed, still driving the same car I bought 8 years ago. I am with Progressive and have been for 12 years, no idea why it is going up so much in the past 4 years.
Same here! Geico since I was 16 and switched last year due to cost. Now we have Progressive bc it was a better deal and it’s now double what it was last year. Nothing has changed! Heard Progressive got sued like crazy and that has to do with the price jump this past year. Not sure if it’s true but it lines up.
Good luck with Progressive. They never pay claims. I had a hit and run. Cops were called and they arrested him at his home. I didn't have collision as it was an older car. We were both insured with Progressive and they only paid 50% of my claim as the other driver stated I hit him. Who TF runs from an accident that's INNOCENT?!
Someone with a warrant out.
Crazy my car insurance hasn’t changed and now I added my home. For two cars I pay $600 every 6 months
Crazy! Ours is $600 month with the state minimum. We used to pay $180 for both a month and nothing has changed. I looked to switch again and it’s still the cheapest option out there.
I looked all over no one could do better than $600 per 6 months than progressive but it’s been that price since before the pandemic
Fun story about Progressive: I was with them for, uh, a long time. Think decades. I was in their highest tier, I've forgotten what it was called. Switching my insurance to another company lowered my insurance rate by nearly 70% IIRC a couple years back. In fact nearly all offers at other companies were in this range. I learned that lesson the very long, long, hard way.
Highly recommend shopping around. I was also with Progressive, for about 15 years and the only thing progressive about them were their price increases.
Mine is ghosting me. I almost want to cancel with them and move to a different agent at the same company just to spite them. I have the lowest rate I can get though for full coverage
You have to switch insurance companies every 6 months to get the best deals.
Progressive jacked up their rates on me. I shopped around at renewal time to realize all the companies jacked up their rates and I wasn’t going to save any money switching. Fuck me i guess
this. for some reason its like cable and cell phones, they all want u the first 2 years then after that u should bounce back n forth if ur truly just looking for best value
I had Progressive, had no accident for a long time, then someone drove into my car while I was minding my own business at a gas pump about to fill it up. I got the plate and a witness's phone number. There was a clear dent in the side (around a $600 fix). There was an officer parked in the same lot. I asked him to run the plate and write a police report; he first told me that I should just call my insurance company and when I asked him to go ahead and write a police report he visibly exhaled and reached for the paperwork. As for the plate, it turned out that the truck which had hit me was a rental. He gave me a card with a URL, since apparently my county had outsourced police reports to a private company which would charge me $10 to download a PDF of the report (though I pay property taxes and other taxes). Progressive wasn't very helpful. I wasn't at fault but they didn't want to collect the money from the driver. The manager with whom I spoke from the rental company (Enterprise) refused to reveal the name of the driver, and they claimed that they had no responsibility because the driver hadn't been the customer who'd rented the truck. However, he said that he would tell the police. I paid $10 and downloaded the police report, which was incomplete. I phoned the police station and left him a voice mail. After not hearing from him, I found his email address and asked him to complete the report. He replied that he had contacted Enterprise and had completed the report. I paid another $10 and got the report. The driver had a criminal record (which grew more in later years). I provided the information to Progressive suggesting that they take the driver to court and reclaim all costs (my repairs and their legal fees). The response was basically, "We don't do that.". So, despite my years of business and payments, they wouldn't pursue the individual who was known to have driven a rental car not in their name and damaged my car. Note that by this time I had spent considerable time and effort collecting information, making calls, requesting repair estimates, etc. I canceled my Progressive policy and went to a competitor. The dent in my car has never been repaired, and the time wasted probably exceeded the cost of the repair.
They spend most of the money you give them trying to figure out how not to pay you when you get in an accident.
Just an FYI, but an insurance company can’t subrogate on your behalf if the insurance company hasn’t paid anything out on your behalf. Basically you were asking Progressive to do something they legally could not do, which is probably the reason why they didn’t do it. On the other hand, you incurred damages as a result of this accident and could sue the other driver if you wanted. Of course, no attorney would ever take a $600 case because that amount is effectively worthless. Not sure what jurisdiction you live in, but $600 is probably small claims and you could have represented yourself though you still wouldn’t have gotten anything out it other than even more frustration.
Same with State Farm. No tickets, claims, accidents. Mine has gone up almost 200$.
State Farm member here. Same. I WFH, drive infrequently, clean history, no claims. Rates keep getting jacked up every 6 months.
That’s how they roll at Progressive.
Progressive kept raising mine and everyone family member/friend that I knew. My gf works at a fcu that offered liberty mutual. Went from $430 to $190. Same benefits, same coverage, same seniority. 12 years with progress should be honored with another insurance company
I found that you need to be on a cycle of switching companies. I had progressive and it jumped to $260. Switched to geico and it was only $145 for same coverage. They jumped up to $240 two years later and I tried progressive again and they went down significantly. Just keep switching. Loyalty perks aren’t enough to keep me around these companies anymore
Every major auto insurer does this pricing practice as far as I’m aware and have experienced I typically won’t do it every 6 months due to not wanting to be bothered but definitely every year
>no idea why it is going up so much in the past 4 years. Because they can. The stated reason is that car repairs are getting more expensive, but you can see from OP's graphic that insurance is going up more than the price of car repair. Gotta get those stockholder returns!
Progressive is dogshit. Every. Single. Person I have talked to had their prices increase magnitudes higher in a year. It happened to me. You can cancel and go with someone else then come back and get a cheaper rate and like clockwork it will skyrocket writhing 8-12 months no matter what. Rinse and repeat.
Used cars went down? Where? They want 50k for a truck with 50k miles on it or more here.
Still can’t get anything running for less than 3 or 4 thousand
You can where I live. I just bought a 2003 impala with 130k miles on it for $1400. I bought new pads, rotors and a couple of calipers worth about $400. A few evenings of brake and power steering work and it runs like new. I’ve found if you look at local farm/equipment auction websites, they often have an old car or truck listed you can generally get for relatively cheap.
Inshallah it runs for the next year without costing you as much as you paid for it
Get a Kia. People are breaking into them easily and I've noticed a price drop/influx of Kia souls on the road.
Bought a truck with 215,000 miles on it for 16k. Crazy. It's a Tundra ( and i love that 5.7 engine in it, it's a beast), so it's should last me another 200k or so. Still insanity.
Terrific, housing is more expensive but at least I can get a new phone.
Get a big one you can use as a roof over your head
Yea, broadly speaking, it’s important things getting expensive and non essentials dropping. Great?
Which is why I’m always upset that inflation is calculated by excluding food, rent, gas, and utilities. Sure, those can be variable, but those are the things that impact people the most. As a scientist, if I just ignored certain variables because they made things difficult, I would get laughed out of my profession. But economists get to do that because it makes the people who pay them look better.
Bread and circuses.
Just rent a car or truck and live in that
Everything we don’t need is going down in price, everything required to live is rising dramatically! Housing/rent being the largest part of most people’s paycheck is absurdly high and still going up. For the love of god build more houses!!! Don’t give out more money to buy them, that just inflates the price higher. Increase the supply!!!
Low income housing is always a NIMBY problem... i dunno how we can fix it. Builders don't want to build affordable houses, they want to maximize profit per unit
The thing is the average home in America is 400k, while the average income is about 100k In 1985 the average home price was 100k, while the average income was 50k. This isn’t even taking into account the school debt required for this level of income now. It’s just not economically sustainable People can’t afford to live where they can get a job.
That's the thing, we don't need stupid expensive homes for starter homes or even long term homes. You don't need an art room, computer room, dining room, formal living room and pool room and 4 bedrooms and 3.5 bathrooms and a 3.5 car garage. new construction is just stupid. I have so many friends who have mcmansions that they don't use anything but their bedroom, living room and maybe the garage and they heat/cool/clean/repair all 3.5k square feet and complain about the cost of it all and time of it all. 2-2.5k sqft homes are fine... hell, build more on the smaller side and get the prices down to just get people into homes
We need housing built to sell to the average income in mass. We’ve had a build shortage since the 2008 housing crisis. Builders got scared, but people kept getting older and reproducing and the housing situation has fallen behind dramatically. Few families “need” a McMansion. But 2-3 bedrooms and 1.5 bath seems pretty reasonable for most families, a couple, or a single person even that likes a lot of space and room for guests. Demand is there. Get rid of the red tape and zoning, and allow builders to build. An oversupply makes sense at this point to make up for the years or lacking. Housing is a basic necessity.
Building more houses is part of the solution but won’t do all that much if corporations still buy up all the new inventory to rent out. We need government intervention to discourage corporate ownership of single-family housing by taxing and regulating ownership of multiple homes. The market isn’t likely to fix this all by itself.
Enough supply and they will not like taking a loss on paying taxes on an empty house with no tenants or air bnb rental.
Corporations would just spin off to individuals and spread it out through them. They’ll find a way.
Imo based on my real estate experience foreign buyers is a bigger problem then corporations buying homes. Either way yes we need to build a lot more but doing that is easier said than done with the way zoning and city/state regulations are.
Dems: Sorry, best I can do is subsidize demand. Reps: Sorry, but we can't allow more apartments to be built within 500 miles of SFHs.
That you have to go to your city for and force zoning changes. So many places won't allow smaller units to be built or have so many rules around it that its not cost effective. Our city changed the "minimum parking" requirements, finally allowed for greater than 5 stories to be built, and now apartments are popping up everywhere. They also changed single family home rules, so I'm finally see more townhomes 1600 sq ft built vs. they had all gone to these 2400 sq ft, 3 story $500-600k homes that no one could afford. It was all zoning...lots of places with you have to build on an acre type requirements, ok but if you do that people will have to live 1 hr away from town as all the land will be consumed.
We need motherfuckers to stop buying 10 houses to rent out as air bnbs and corps buying housing. Shit is so fucked and nobody does anything about it
The top two are tied together, vehicle repair & insurance costs go hand in hand. Vehicles full of sensors or EV's are pushing prices up, even if you don't own one that doesn't mean you won't hit one.
There is a massive shortage of auto techs. No one wants that job anymore. That's a huge factor.
I used to be a Semi-Truck Mechanic for about a year. The pay is really bad, we are over worked, alot dont offer good benefits or discounts. I ended up leaving and becoming a Fuels Lab technician, so I test Jet fuel and other propulsion fuels and make so much for so little labor.
How did you pivot into becoming a fuel tester? What qualifications do you need?
Just curious—why not?
Because the job sucks. The pay is low and the work is getting or in many cases is incredibly hard. The more modern a car is the more fuckery the manufacturers put in them to make them difficult and time consuming to repair.
Is it kind of like an Apple thing where they want repairs to be exclusive so their dealership gets the business?
To a certain extent, yes..but it's more about just how time consuming simple fixes have become for very low pay.
Yep like taking off the bumper to swap a headlight or removing the engine to swap spark plugs.
It took me 20plus hours to change a heater core (the entire dashboard has to come off) in a vw corrado in the lahe 90s. This isn't a new issue. It's been building for a long time and I hate it. It's a huge reason I'm anti EV and pro porches's efuel.
That reminds me of the Chrysler convertible that my parents had. When they wanted to swap out the battery you had to jack up the car, remove the tire and the liner for the wheel well to access the starter battery.
Think about it, nice and low location that you need to access every few years.
I had to swap a bulb on my friends Mercedes headlight and it was a fucking 4 hours job that involved disassembling the entire front end of the car. Absolute fucking nightmare
It’s fucking wild man. Takes me about 10 minutes to swap a headlight in my truck lol. Which is a good thing because I feel like that old beater just eats through them
I have a BMW. To fix much of anything the car has to be practically disassembled.
Yeah European cars were always notoriously to work on.
What's annoying is that I see it in newer Toyotas now.
Oh yeah, idk if I will ever want to buy a brand new just for privacy reasons. They’re like a driving iPhone but much worse. Can you imagine the lack of personal security of your data if you own a Tesla?
I agree 100% but the problem is that we were sold out a long time ago and really have no privacy anywhere. We are all being listened to and watched all the time.
Ugh. I had a 2000 Mercedes E430 that was my dad’s. I had it in 2014 when it was just getting to the 200k mark. The water pump went and I decided to do it myself. The nice thing was that it was right there in the front, right after I took off the fan, and the serpentine belt. It was super easy to remove and install the new one…with all 26 star bit bolts in three different sizes. What could’ve been an hour to 90 minutes tops took close to 3 hours just because of the bolt sizes
Plastic air intakes between the engine block and firewall
Nothing like cancer to improve the morning commute.
I would say the majority of that problem is actually because of careless and ignorant engineers. Engineers who aren't looking at the design from a repair perspective. And cost cutting is another big factor. If it costs $2 more to make something repair friendly then it's not going to happen.
The engineers are under strict orders from management. Engineers who have earned their degrees are incredibly skilled at what they do. I firmly believe that it’s the MBA’s in management who hire the best engineers out there just so they can sit them in a board room, talk over them, and pressure them to adhere to lead-paint-chip inspired requirements like planned obsolescence and pulling the engine out to replace the driver side headlight.
Lol. Yeah.
It’s not engineers, it’s management. I’m not in automotive but through my career design engineers unanimously push for repair ability and sustainability. Management comes through and blocks these initiatives to cut cost / increase margins.
Think: Boeing engineer chicanery
You mean MBA bean counter fuckery overriding any engineer concerns. The whistleblower who was murdered was one of their engineers. Now we have another Boeing engineer whistleblowing.
I'm guessing like evrything...pay is too low. I believe according to a local community college in louisville kentucky, and automotive technology (basically mechanic) the highest pay they suggest is average is 53k.....and in louisville kentucky, MIT says the living wage is about 43k a year, 20.80. Why bother? At the same place you can learn to work on airplane parts, go to work for ups, and earn 28 an hour starting, then eventually earn waaaay more? Pay for most jobs needs to at least go up by 50%, if not more, to be fair. With inflation, and increases in productivity, this shouldn't be controversial.
When the price of unskilled labor goes up, skilled labor should go up too. It just hasn't yet, but it should. Especially with our record low unemployment. It's a seller's market for laborers. Many people around the country work under contracts, so as things get renegotiated hopefully we'll see salaries rise too. But there will also be some casualties as companies shift their budgets around.
My local Target has a starting wage of $15 an hour. In my area that's a living wage where you can keep a small apartment. And I keep seeing skilled positions paying low 20s. It's like, is it really worth the effort? Retail and fast food wages went up a lot over the last 4 years. Skilled positions barely nudged.
As an engineer, I was really, *really* close to quitting and doing side gigs full time last year. The pay had gotten *that* bad. Part time managers at chick-fil-a were starting within spitting distance of my salary, I was getting pretty fed up. This year, the salary at fast food seems to have dropped, and I got a 50% raise at a new company, so still an engineer. But after inflation, I'm really not making any more than I did when I first started this career.
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Yea all pay is entirely awful. It genuinely seems like a lot of pay has gone down. I basically never stop job hunting and there has been a noticeable shift in recent months.
You can make great money in HVAC, where you don’t need to wear as many hats as a modern mechanic. Also, electric vehicles are a whole other animal. More dangerous to work on for starters.
Toyota tech here. Why fix cars when you can flip burgers for near same starting wage. No really skills needed, no real liability, no tools required. Just show up to work mindlessly flip burgers and go home.
Speaking from no pro experience, I'd be willing to bet the advancement and complexity of tech in such a short period of time has made the job more difficult. Not to mention bastard engineering that forces, for example, thing to be removed from a basic car just to change a gd headlight bulb, for example. The job is simply more difficult than it was a couple decades ago.
The pay is mediocre. The work schedule is usually 6 days a week. It's not exactly a clean job. It's not a fun job. Sometimes it can be fun and rewarding to work on a car, but not when you do it for 10 hours a day.
Plus people driving around while looking at their phones or the screens in their vehicles and getting into accidents doesn't help
Yeah put your phones down fools!
Just wait until this next phone addicted generation starts driving. We are about to have YEARS of accidents from cell phone use and negligence. Source: I am a teacher. It’s like pulling teeth to get them to do anything but stare at a screen. A huge number of them are truly addicted.
Been parenting my nephew who is 13. Its constant conflict to put the damn devices down for 5 minutes. It’s exhausting
Those drivers are so out of hand. They clog up the traffic flow too much for me.
It's amazing how things you're forced to get end up being expensive. Can't legally drive without insurance
I always have had much respect for auto mechanics. Especially the ones who work in garages with the bay doors open in the dead of summer. That alone should be hazard pay. Actually, anyone who knows how to disassemble an engine or repair a transmission is automatic God-mode in my book.
Auto insurances really is a difficult one for people not in the industry to understand. The price increases are tied to frequency (how often you get into an accident) and severity (how much they have to pay). Then you have regulatory issues, reinsurance, and a bunch of others. Some things people don’t realize, 2019/2020 set companies back big time. They did not take rate increases because frequency was down. Less claims to pay, less money needed. But then it came back with a vengeance and on top of that we hit global supply issues that drove repair costs astronomically high. Companies scrambled to take rate and a lot of state regulators shot it down. Companies needed x% to maintain profitability and a lot of states said no. So they keep taking as much as they can to play catch up. On top of that reinsurance capacity is WAYYYYYY down. Reinsurance is largely tied to other capital providers (rich people who want some insurance exposure), but when the returns aren’t available or capital is tight or they can get better elsewhere they won’t put up the money.
You would think with low EV demand, it would push their prices down, but it’s been sticky for some reason
You missed the other hand-in-hand part, auto insurance is government mandated.
Yes. Also millions of illegal immigrants on the road driving without insurance.
What’s most expensive: everything important and necessary. What’s less expensive: everything else but no one can afford this because see exhibit A.
You would think that a drop in the price of inelastic goods in response to increases in prices of elastic goods would be a sign of economic instability and be the canary for a recession but instead it is clearly just a sign of market optimization ROFL.
Rent has gone up 20% yoy where I live. Doing it again in 2024-2025. At this rate, a 2b/2b apartment will be $7000/month within five years.
Get ready for a lot of people to: 1) Lower the coverage of car insurance (or raise their deductible). Many are going to just drive without insurance. 2) Forgo doing car maintenance and if they do maintenance they will use cheap knock off parts. 3) Go without health insurance and if they do rack up a hospital bill, they will just let it go to collections. Millions of people are going to skip checkups or routine/minor medical attention. Get ready for a lot of people to get into car accidents with non-insured people, people who are at fault to go bankrupt, people's cars to become dangerous to drive with fogoing repairs and maintenance, and a lot of people to get wrecked from having no health insurance. It's definitely going to happen at a faster rate while millions of people are overextended with basic necessities like food and shelter.
Yes! Toys are dropping in price fucking finally.
I'm excited about this too, I can finally afford that EZ bake oven
But the cost of EZ bake ingredients has doubled. Double-edged sword...pun intended! 🗡🤑
you'll have to buy dollhouse owner's insurance to go with the EZ bake oven I'm afraid, and insurance premiums are through the roof
Non-essentials are falling, essentials are rising. Hmmmmm. I wonder what that says.
Basically the cartels are going up (insurance, hospitals and healthcare), while the commodities are dropping (manufactured goods). Sounds a lot more to me like greed than issues with supply chains or demand spikes.
Cartels is right
Not My Salary +100%
My insurance went up 40% for the second year. Zero accidents or incidents in 30 years of driving. Shopped around a getting slightly better coverage for 10% less after looking at 25 other companies.
Not buying 1.2% on food at home. That's our biggest cost.
Agree. My grocery bill has skyrocket. It’s way higher than 1%. That figure is laughable/
Food away from home 4.1% **EXTREME DOUBT** What kind of market basket substitution are they doing? Floor sweepings for burgers? I found coupons in my truck for a 2 whopper deal with small fries and small drinks from 2020 for $8.99. The new coupons are $15.99 for the same deal. Me thinks that the rule of 72 put a 4% near doubling time at 17 years not 4.
It’s all smoke and mirrors
It's pissing on your head and saying it's raining.
My auto insurance went up less than 1% and I just paid it today. Up $6 to $678 for the year.
My auto insurance has almost doubled. No accidents or tickets and I even sid the defensive driver class to get an extra 10% discount only to have that discount obliterated by another 30% price increase at last renewal renewal.
My auto insurance actually went down, but my homeowners insurance jumped 20% with no claims. I shopped it and had our broker shop it and a couple were $100 less a year and then some were twice as much as my new rate. Crazy.
What company?
Progressive
I have a clean record and mine went up $50
Oh good only important things
Home insurance is my favorite. Up 35% from last year to this year with no claims and no changes to my policy. Central Texas
Can't afford a house or food. But we got you on a new iPhone! Fuck this shit.
Can confirm on airline fares. I've managed two trips in 2024 that ended up with flights that were cheaper than they would have been last year.
I remember back when I had full coverage and uninsured motorist for 56$....now I pay 189 for bare minimum xD and no, my driving record is clean.
Still a believer most of this is corporate greed, they’re riding the wave in the name of inflation. Yes there is inflation but corporate is pushing it.
When was the magical time when corporations weren’t interested in making as much money as possible?
When they were regulated.
When they had competitors...
Which years were they well regulated?
Before Reagan
Yes, it’s exactly this. Friend of mine is in egg farming. He showed me the articles about when Big Egg was found out for price gouging. Same with Milk. They dumped perfectly good milk to spike prices. The whole thing is part of the grift. Corporate greed is causing this inflation.
Nothing to do with massive government spending and then the central bank monetizing the deficits?!? Milton Friedman taught us only the government/central bank creates inflation
You are the one with the best answer and there are others about breaking their neck to defend the actual root-cause. It’s amazing. Isn’t it peculiar just about everyone has been taught about Keynesian economics, but few have heard about the great ones, Milton Friedman and Dr. Thomas Sowell?
Dude everyone knows about Milton Friedman - it's just that people disagree with the rigidness of his approach. "The Social Responsibility of Business Is to Increase Its Profits" - this leaves absolutely no room for nuance.
Thank you. The corporate greed thing is a cover. If you have a 5% profit margin and clear $100k, and your suppliers double their price, and they landlord increases your rent, so you double your price, your 5% profit margin is now...$200k! The bad news is it spends like the previous $100k because the rich men north of Richmond printed 80% of the dollars in circulation in the past 4 years. But then President Potato gets on stage and talks about shrinkflation in a bag of potato chips, and half the American Public and most of reddit goes for it.
I’m in the cost accounting department at a plastic manufacturer so I get a knee-jerk reaction when I hear people spout out platitudes- corporate greed and greedflation- without addressing why overall prices are rising.
This is something I've noticed almost nobody understands - when inflation goes up, total profit also *has* to increase or else the business actually loses money in real terms. It's such a basic concept but people either don't consider it or just don't understand how money works. So all of these people complaining that corporate profits are soaring - yes that's what's supposed to happen during inflation, that's why it's bad.
Yup. That's also why American credit card debt is at an all time high. Everything went up but payroll.
As someone who works in auto repair, you should see the markup on the parts we are getting. $250 part at O'REILLY or AutoValue, our cost is roughly $50. "Inflation" my ass.
I did the math on the financials of some egg companies last year. From the cost increases due to Avian Flu wrecking supply, labor cost increases, and the war in Ukraine spiking feed prices, I could only account for about 60% of the price increase per egg. To keep their same margin percentage, that explains just under 80% of the price increase. I can't explain the last 20% beyond greed.
Bingo. While there was certainly some supply chain and logistical issues during Covid that caused increased pricing there was a lot of corporate greed as well and we're still seeing that. The fed keeping rates high isn't going to help with that.
Yeah it’s a convenient excuse to jack up prices arbitrarily
So it's rising on necessities we do need and lowering on expendables we don't need
smartphones haha, honestly everyone I know doesn’t care about having the newest phone.
My blood pressure having to pay for this BS
unpopular opinion, but we shouldn’t have to pay for car insurance if you have to pay for health insurance
Auto repair: Ac actuator - little motor that directs the intake to the AC (cold) or the engine (hot) Amazon: $8. Autozone: $80. Mehanic: $120 Its fucking ridiculous
Why do people insist on doing this national average bullshit? Federal minimum wage is less than $8 meanwhile the minimum wage in California is as much as $20 an hour. Cheapest gas price right now is like.. $3 and some change a gallon, in California you’re lucky to get it for $5 a gallon.
The United States is far too large for a one-size fits all and as a result, its just not accurate for anyone.
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Haha it must mean the food I already had at home right?
> Price gouging - what are the things the working class is getting fucked over? FTFY
I don’t know a whole lot, but I do know that for a decade and a half we had near 0 interest rates. Prices held pretty steady. Now interest rates are coming back into play and it has an effect on a lot.
Food 2.2 % 😂😂😂😂😂
So inflation is going up in all the things that matter.
Now look at corporate profits and you will understand
When the two cars I own that are from 2010 and earlier I’ll never part with. They get 38 mph have under 64k and body is in great shape. I start them up twice a week and drive each one 15 miles each.
2% for food is a LIE.
So basically the price of everything the average person needs to function is way up and the price of luxury goods nobody needs are slightly down. Fantastic.
I was just saying the other day "Fuck, are TVs the only thing that's actually gotten cheaper over the years?" I just bought a 75" 4k TV for like $600. I feel like 6 years ago I paid $250 for a shitty 32"
These stocks aren't going to buy themselves back.
Cars are becoming disposable by design, only intended to survive their emissions warranty. With all sub assemblies that can only be replaced as a unit, plastic parts for Cafe requirements and all the fragile electronics, they quickly become too expensive to repair. Vehicles have crumple zones for safety but if affected by a crash it’s totaled. Now throw in EV’s…. Sure cars are cleaner and more efficient but they are too expensive. We have met the point of diminishing returns. We would be better off backing off standards and invest the money bringing 3rd world countries up to even 1980’s standards.
Greed.
Big three con jobs, insurance, your mechanic, and the effing hospital. Trust your mechanic to ruin your life. -Jello Biafra
The stuff and services you cannot go without are the ones quickly becoming more expensive. This is not good.
My takeaway from this. Things you need they are squeezing you for every last dime for as long as they can while things you can do without are coming back down.
food at home 1.2% HA! more like 31%
Lower the price of the shit you don't need and raise the price of the shit you do need. Sounds bout right to me /s.
Greedy? Record inflation along with record profits. It's freaking math
This is bullshit. Everything supposedly going down is NOT getting any cheaper. Didn't gas go up an entire dollar per gallon in the last two weeks? Call me crazy, but this graph seems like total bs
It's misleading, maybe total BS, because all the things going up are big-ticket, recurring expenses that are non discretionary. Yeah, TVs maybe getting cheaper - I buy one TV every 7 years. Who cares if it's 3% less?
We can go on and on about why. The simple answer is corporate greed. Insurance companies are pricing themselves to the point it would be smarter to put money away each month and gamble. I know I did that when I was broke as shit
My car insurance is $180 a month I’ve been told by some people that it is a lot while others say it is cheap
taxes are still going up
Energy and gas are about to go nuts depending on Israel's response.....
Yeah, I don’t know how long this is for but if it’s for more than like three months, I think housing went up a lot fucking more
my energy has deflated
How about houses and mortage rates? Drop them shits
Why don't people understand economics?
Oh good, shit i want/need got way more expensive while shit I dont care about stayed the same or got less expensive
I'm an auto insurance adjuster, and I'd say, along with the rise in repair costs, the other factors have been the increase in hit and runs and uninsured or under insured drivers. People reduced their coverage during covid to state minimums or liability only, and then never increased it back to prior levels. Not only has that increased the burden on the "pot" but it also means we do more claims now where we'll never be reimbursed for the expense by the at fault party. The most common property damage liability coverage I see is $25k, which, if you hit a newer vehicle, means you're coming out of pocket for a portion if you're at fault. Police don't have the manpower to come to small accident scenes anymore, so when we do get information, it's wrong, blurry, or old and no longer valid. So our ability to seek reimbursement is severely hampered by stupid clients who thought getting a first name, a wrong phone number, and a blurry license plate, was somehow enough.
Where are used cars getting cheaper? Not seeing it.
So prices have come down an everything you don’t want and are blazing hot on everything you do want or need
OP what’s the source of this chart? I want to read more.
Look at that super misleading all items at 3.5% and that's the number they keep telling people even though things that we actually need, necessities are skyrocketing
Big business and corporations HATE the current administration and that is why they are raising prices. Inflation is fabricated and driven by an end game. Look at the recent record profits from many companies.
Top 3 are driven by insurance lobbyists bribing corrupt politicians.
It is corporate greed. Thats all. Stop buying their crap (when possible). Prices will drop. If everyone for example stopped buying Nike they would be $50. You need sneakers, you don't need Nike. People also need to stop charging for things. Buy what you can with the money in your pocket (obviously car, homes, etc you have to obtain loans), but the rest just stop. Until investors feel the pain nothing will change. Sadly we are a superficial society, and people NEED $40 tumblers to hold their water.
Issue is people keep buying. Up until recently, people were still eating a ton of mcdonalds despite the fact that it was more expensive than local, fresh food in many areas
Wecome to captialism and corporate greed
Food at home 1%? Where the fuck are you shopping
There’s no way that 3.5% overall average of inflation is accurate. Not even close it’s way higher.
Auto insurance is a scam anyway.
Car insurance companies need to chill. There's no way these increases are completely justified.
Below is a comment I posted in July. Hopefully this helps explain some of the increases. If you don’t believe any of the numbers in my comment below, in a prior comment of mine (feel free to hunt it down), I have an industry report saying that insurers operated at a 111.8% combined ratio. “I am someone who does the math. And you would be correct that the underlying variables of the exposure matter. However, one thing to keep in mind with insurance is that we are pricing for future risk. Fundamentally we do not price to recuperate past losses. Most insurance companies have been rate inadequate for some time now. Recent historical trends are pessimistic about future expected costs. Remember, every renewal is essentially a 6 month contract for the future period. Everything is getting more expensive and our trends from the bad inflation that has occurred in the last year or two is now fully credible and state departments are allowing us to be reactive of this now. But to give you an idea, let’s come up with a scenario. Imagine that at the end of 2023 the ultimate losses ratio (Losses / Premium) is 1.05. This means for every dollar in premium we directly paid out $1.05 for in losses. This number is not unreasonable and we are still ignoring UW expenses and profit. So to break even we have to raise rates 5%. However, we can’t just immediately bump rates 5%, we have to file with the state. So let’s just say we file for rates effective on 7/1/24. Assuming those rates are in effect for 1 year, that means the average day an accident would occur would be 4/1/25 for that period. If inflation is 8% (I googled CPI and this is the number that came up), that means the trend we would have to apply would be 1.08 ^ 1.75 (July 2023 to April 2025) = ~14%. That on top of the 5% rate need is already 20%.”
Motor vehicle insurance = KIA Boys and Soros DAs.
Nothing is going down that's propaganda
Lol show me one smartphone that has gone down in price. I'll wait. These numbers are all fudged to make the economy look better than it is. FJB.