(State Farm) Major insurer gives brutal ultimatum to entire state: Let us put up prices by 50 percent or we will leave

FOR DAILYMAIL.COM ^ | 1 July 2024 | UPDATED: 08:15 EDT, 2 July 2024 | By ALEX HAMMER

[Tell It Right]

My advice is to not COUNT on net metering. Use it if it's available, but always be mindful that the regulations/fees might change and thus it won't help you in later years.

I chose not to get a tracking system. To me it was adding moving parts that might break down in the future and increase my odds of needing repairs. I realized that for the same amount of money, instead of adding a tracking system I could simply add more solar panels and achieve the same increase in solar kWh without adding mechanical parts. The only moving parts in my entire solar system are the fans within my inverters.

To be fair to your friend about net metering, he lives in NH. Here in Alabama it's cheaper to be mostly energy independent regardless of if you sell power to the grid. Not only do we get a lot more sun, but the part of the year that we get the most sun (late spring to early fall) is the part of the year that we consume the most power for running the A/C. And we need to run the A/C more in the day than in the night. On top of that, my wife and I are usually home part of the day -- charging the EV while the sun is shining.
<>P> Thus I need less battery storage to make it through most nights without pulling from the grid than someone in NH would, who works in the office during the day and having to charge his EV at night, including in the part of the year that's most energy intensive to him (winter) when he gets less sun and has to run the heat more at night than during the day. Completely different from people in NH trying to lower their heating costs in the winter -- the time of the year they get less sun.

So even though I just said it's best to pretend net metering doesn't exist for the long term, I'll admit it's easier for me to say that in Alabama than if I lived in NH, where net metering might be vital to whether or not solar is worth it.

[TurkeyLurkey]

Yes, we join the thousands whose insurance with State Farm has so drastically risen. In shock, we called our agent with questions...no understandable or agreeable answers, but we decided to keep them for the year while we look around. This is the 2nd thing we’ve seen about their possible financial troubles (both posts on FR). At this point, not enough info. for us.

[NorthWoody]

Mine was going up more than that so I called my insurance agent and he rewrote my policy. It caused the increase to be much less than the original bill was going to be.

Maybe your agent can do the same for you.

[dragnet2]

Get people out of their homes and cars. End private home ownership for the good of all!

[johniegrad]

Sorry to hear about your experience with USAA. I’ve had nothing but great service from them in 45 years.

[WildHighlander57]

Proof of car insurance is required in some states in order to renew the registration every year.

[mad_as_he$$]

Excellent!

[Old Grumpy]

I TOTALLY agree with all you said about USAA. I’m sorely disappointed in them. They’ve definitely changed for the worse since I joined them 36 years ago.

[Señor Presidente]

Right! The jealous wife seizing the phone was the best part of those ads. “What are you WEARING, ‘Jake, from State Farm!?’”

[WorksinKOP]

Yeah. The increased deductibles are really the only option. Can’t have the umbrella without the underling policies. At least not so far as I know. And I also agree about the tenants. I’ve been ok to date, but I see the same showing up. I keep my prices very fair. But the higher they “need” to go, the more likely one needs a group rather than a nice couple or family. Rents are getting so high it insults myself. So, I started selling.