Why did my car insurance double after I lost my vehicle to a hurricane?

I lost my vehicle to a hurricane last year. When I filed a claim, the car insurance company totaled out my 2016 Dodge Charger. I'm looking to purchase a vehicle again, but I wanted to get some insurance quotes first. The cheapest I can find is more than double what I paid before (over $500). Why did my insurance go up so much?

Answer
“Natural disasters are a thorn in the side of insurance companies. They usually pay out billions of dollars and are saddled with losses in the process.
In your case, you’re probably just seeing an after-effect of the immense costs associated with the hurricane. Your insurer has to recoup their losses somehow, and one way to do this is to raise rates.
If you’re being quoted more than double what you paid before, even after shopping around, that might be a good indicator of what you’ll pay across the board. Still, you should keep shopping around for cheap car insurance, as $500 is probably more than your actual car note.
If you still can’t find any reasonable rates, you might want to try buying a non-sports car to help lessen the blow of insurance costs.”
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Eric Schad
Answered on May 04, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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