The whole industry is up in arms about this. Farmers, Allstate, AmFam layoffs were one thing, but Geico? Over the past 25 years, the 3 most well run carriers among the bigs have been Geico, Progressive, and USAA. These layoffs are not a good sign for the industry, or for consumers. Rates goin' up, folks.

Yikes!

Glad I got out when I did!

Do you think it's because of people skipping out on insurance they used to buy, more people making claims to "get free money" wink wink nudge nudge, or gov regulations hurting profits, or ???

Stock portfolios not doing well?

As an adjuster is that effecting you? Been thinking if I need to get out of the body shop that I would go into the adjuster field even though I hate to be in your shoes facing both body shops and consumers coming at you with frustrations.

Most companies have not yet figured out how to price for the current market conditions. Vehicle values, repair costs, length of repairs and the corresponding increase in rental car expenses, etc. have made pricing a nightmare. Companies are losing money, some of them a lot of money, and the quick and dirty fix is to cut costs. But that's a bandage on a bullet wound. Until they figure out how to price correctly, they'll continue to lose money, and consumers will bear the brunt of it.

People will just drop their insurance and drive without it. Looks like some areas already have 20% - 30% of the population driving without insurance anyways so we will just have more of it.

Rates going up??? They have been every year I can remember. I have NEVER seen my rates go down...

You've not seen anything like what's coming our way.

Saw another article where all the big banks are quietly laying off scores of people as well!

I've been a member since 1994, I'll say USAA ain't the company it used to be.

We used to do EVERYTHING with them. Loans, insurance, investments, etc.
Now all we have with them is a savings and a checking account...and I'm thinking about switching over the savings account because the rate is basically 0%

Patrick Mahomes needs more money for his State Farn commercials.

You got Kelce, and Mr.Cheeseburger Andy Reid in the commercial now, when will Taylor Swift make a appearance?

Basic coverage is going to be the new norm.

State Farm is hopelessly behind at this point. You should see some of the stuff we're seeing them screw up because they can't keep up. Millions of dollars being lost by them. Also, in the process, screwing their customers out of being reimbursed for their deductibles and rental car expenses too.

Yep, feel like a sucker paying for extensive coverage when no one else has any.
The new gimmick is "uninsured motorist", so now I'm expected to pay for me AND the guy who hits me.

Right

No, we're building back better 🤪
i believe this started with the PG&E fires amongst others in the Golden State and Florida. The insurers all claim to be losing money but what about all the years they made money? Why should I be bent over because of their losses elsewhere.
I was with American family for 25+ years. probably less than 10 claims on 8 or more polices during that entire time. 1 5K claim for a dishwasher that took out the kitchen floor and the rate jumps 35%. Ok So I shop around and wind up with nationwide. All is well until renewal time. 82% jump on the home policy for no reason other than "we lost money" WHAAA that happens in business. So I shop around again and find out it's with all companies. Are our elected officials doing anything ? yes, collecting more graft likely.
So they pulled it off in Ca. doubling rates while dropping fire coverage which equaled tripling rates and got away with it. Hmm it worked there so lets do it across the country. Hmm Worked again, now lets go after the car insurance. it all sounds like an Enron deal to me. BTW, it's not just the insurance companies that are running amuck LINKY
MOD's If this post is considered to political, just delete it.

Such a GREAT age we are living in!