"Give Me the Cheapest Surgeon" — Said No One Ever

You are about to receive your renewal notice for your policy. If it's an auto or home policy in Washington, it's surely more than last year by a significant amount.

According to the Tacoma Tribune, January 27, 2024: "Car insurance rates in Washington state are expected to see a 20–25% rate change in 2024 due to inflation, cost of labor and auto parts, and an uptick of traffic deaths and accidents."

According to MarketWatch.com, "the average cost of full coverage car insurance in Washington state is $135 per month or $1,616 per year." (January 30, 2024)

Allstate, who we are exclusive agents for, has already raised rates for 2024 — but a report I just received shows that many carriers have not raised their rates yet, though they have filed and been approved to do so.

How We Stack Up

Even though we are priced very competitively, according to MoneyGeek we ranked second overall. Oddly enough, we offer multiple-car discounts and the only 15-year auto replacement endorsement on the current open policy — something their ratings said we did not have available.

We rank #1 for bundling in the most recent Bankrate article online.

Accident Forgiveness and Deductible Rewards are features we offer with the Gold Package — something many carriers may require you to earn over a five-year period. Why is accident forgiveness so important? It protects you from what is being reported below.

Car insurance rates go up by an average of 49% if you cause an accident. Your rates usually won't go up if the accident wasn't your fault or if you have accident forgiveness. And not every car insurance company or state handles an accident on your driving record the same way. — ValuePenguin, January 17, 2024

What You Get With the Kaiser Agency

Some of you may shop for comparisons to see where we range against others. Others know what they get with my agency in terms of responsiveness, competence, and commitment to satisfied customers.

We regularly help our insured file claims when needed and stand by you to hopefully streamline your experience and get you back on the road as fast as possible.

We are seeing many more vehicles totaled because the cost of repairs exceeds the percentage threshold for repairs relative to the value of the model that was damaged.

I recently had a 2014 Honda Civic with several hundred thousand miles on it. Repairs were estimated at over $9,000. The owner had paid $11,000 for it two years prior. The assessment from the third party we use put a value of $10,500 on the settlement. The customer had the Auto Replacement Endorsement, which cost less than $15.00 every six-month policy period. As a result, the customer received almost $15,000.

A Note for Renters

I had a recent conversation with a home renter — not an owner — who was informed after a small kitchen fire that the landlord may seek damages under the liability coverage. He carries $500,000 in liability, where most renters only carry $100,000 because that is what the rental management company requires in Washington. Something to think about.

The Bottom Line

Insurance may never have the same value that a surgeon plays in providing a life-saving change — but a well-structured plan assisted by a knowledgeable insurance expert may protect your financial well-being and reduce liabilities not envisioned by you, for a few more dollars.

Please call us to schedule a review of your coverages and let's make sure you are in good hands. Happy to provide a quote if you are looking for a new insurance relationship.