My original insurance was 2400 r
six months and it went up to 40.
Added stress on a on a small fa.
So it just kind of eats into your budget.
It's one more thing to add to the list,
honestly, but it hurts.
It definitely hurts.
All right. You may have noticedn
increase to your car insurance or your
home insurance if sure you're not alone.
I mean, it even even happened t.
I was just talking to our insure
expert about it. All right.
To explain why that's happening and to
answer your other insurance questions,
we're joined by Christopher Cook
with Alliance Insurance Services
that you can text in your insure
related question right now.
The number is
336-379-5775. Again, you text in
your question and you get your
question answered here live on..
All right. So we've heard people say,
you've heard me just tell
you my car insurance went up.
So what's going on?
Yeah, Tanya, we,
we certainly are entering into a space
that unfortunately consumers can expect
their insurance premiums to be on the rise.
As I was trying to briefly explain to you,
insurance, what we call frequeny
and severity both are going up,
frequency being there are more claims
whether they're weather related due to.
Catastrophic weather or whether they're
basically we don't drive very well related.
There's more claims right now on auto because
we've started driving again after COVID,
but also we're not paying very
good attention to the road.
Our phones distract us
more than anything else.
So those are driving the the number of
times we file claims as as a society up,
which is making insurance rates go up,
but also the cost of those
repairs when we do have a claim.
Have drastically increased as w.
I like to call them bricks and sticks,
but the things that it takes tox
your house are more expensive ty
or the things that it takes to x
your car are more expensive tod.
So those are those factors,
both frequency and severity or
driving insurance premiums up.
And it's really all across the
board cuz I even said to you,
I'm like, I haven't had tickets,
I haven't had an accident. What gives?
Yeah, it's, it's all across the board.
Good drivers and bad drivers,
nice homes, older homes,
business insurance,
life insurance rates have actuay
remained relatively steady.
I guess I could say that.
OK. All right.
On the topic of car insurance,
we want to talk to you about a
specific scenario that some Trid
drivers experienced just recent.
OK. So what we're showing folkst
home is this video of this big .
It landed on one of the northbound lanes
of I-85 in Archdale yesterday morning.
Police say that the 4 foot long rock,
again 4 foot long, badly damaged 3 cars.
Now in that scenario,
what would someone's car insurance cover?
What would you have to do?
Yeah, so if you happen to know,
and I doubt in this instance, they did.
But if you happen to know where
the rock came from, who dropped,
who's responsible for it,
then that person's liability
insurance may pay this claim.
More often than not drivers do t
know who that is and so they enp
having to file a claim with ther
insurance company if they have
comprehensive and and collision coverage.
And so that's that's the next sp
in the process is being able to
file a claim for comp and collin
and and you probably going to he
to call the Police Department ad
file a police report and you're
going to have to contact
your insurance company. All rig,
so now, and it may be too late ,
you know, those folks,
but if this were to happen to any of us,
we're on the road.
Something hits us, something fas
off somebody's car or something like that.
I know I've hit a sofa back in my day.
I've hit a Bay of hail that was
left by someone back in the day.
I didn't know who dropped that kind of stuff,
but I did pull over.
And that is the key is to
make a police report. Why?
Yeah, we. Police report always s
when filing an insurance claim. Always,
maybe a little bit too big of a word there,
but it's a police report's goino
help and hopefully the police can help
you identify who caused the dam.
It's really hard in these Rd.
instances where somebody droppea
couch out of their truck or a bg
of trash or in this case, a roc.
It it's difficult, you know,
a lot of cars are coming,
becoming equipped with cameras
and sensors and all these thing.
That may help us in the future
identify where that rock came f.
I don't know how many cars have that today.
They're definitely commercial vehicles,
but not in most of our,
you know, regular daytoday cars.
OK. But I want to make
this point really clear.
So these people are going to hae
to do it on their own insurance.
And so the only way that their
insurance is going to pay is if
they have comp and collision.
That's exactly right.
Yeah, liability only is not
going to pay for the damage.
You had nothing to do with it.
It wasn't your fault.
You didn't leave the rock in the road.
But comp and collisions going to
have to be present on your auto
insurance policy for damage that
from something you hit in the r.
To be covered,
all right and common,
collision is not required
on a lot of used cars.
It's required on new cars
because you're paying a payment.
But on used cars, it's not requ.
So you may not have that.
And if you didn't, then you'd be
paying everything out of pocket.
All right, we're going to contie
and take your questions coming
up in the next segment,
The numbers at the bottom
of your screen there,
336-379-5775.