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Thread: Insurance increase 2020

  1. #1

    Default Insurance increase 2020

    I received a letter from my insurance company warning of a 15-50% increase in rates at renewal time.
    I believe this is an industry wide event due to the accidents we have had up here in the last couple of years.
    Very sad, I was enjoying some good rates with a clean record.
    Is everyone else receiving these letters? Private and commercial?

  2. #2
    Member
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    We had a 50% increase last year on our PA12 sure hope they don’t double it again.


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  3. #3
    Forum Admin Brian M's Avatar
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    Eagle River, AK
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    I didn't have any increase when I renewed back in July, but I sure don't expect that to be the same next year based on what I've heard here and on other sites.

  4. #4
    Member
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    Los Anchorage
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    Quote Originally Posted by Brian M View Post
    I didn't have any increase when I renewed back in July, but I sure don't expect that to be the same next year based on what I've heard here and on other sites.
    My renewal (June) came in with a $20 reduction (not 20%, $20). My agent/contact told me that two underwriters had dropped out of the private/non-commercial market, one of those underwriters (according to my guy) dropped out due to not generating enough business (??? but they only did private) and the other underwriter because they also did commercial work and they were getting out of Alaska entirely.

    Bottom line is that I was told to be happy I was able to get coverage.... we'll see what happens in 6 months.

    FWIW, my agent said it helped that the policy was only for one PIC on my -12.

  5. #5
    Supporting Member akaviator's Avatar
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    Dec 2007
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    Alaska
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    I also had a reduction last year, but then sold my Sedan and bought the 180 so I got to pay more because of the increase in hull value. I called my agent a couple weeks ago because I'm thinking about buying a Cherokee Six (adding, not replacing) and he said to expect an increase because of all the aforementioned accidents. I'll know how bad it's going to be in March.

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