A Cuban woman residing in Kentucky (@zuleeeeeee87), who works in the insurance sector, has shared a video on TikTok reflecting on the current situation of insurance prices in the state and offering advice to newcomers.
"You can feel the lack of companies offering competitive prices for home insurance," she explained. However, what worries this professional the most is the increase in auto insurance rates.
In her message, she calls on those who have been in the United States for a while to guide the newly arrived about the real cost of owning a car in the country. "To those who have been here for quite some time or even those who haven't been here long but are receiving friends or acquaintances in this country, guide those people who have no idea what they're getting into when they buy a car," she said.
Rising Auto Insurance Costs
She described the situation as critical, especially for those who are just starting out. "People arrive uninformed and when they buy a car, they have no idea that auto insurance can cost a fortune. We're talking about high prices. A significant amount, especially for those who are just starting out. Prices are rising more and more. The cost of cars and their repairs is increasing, and therefore everything is going to keep going up," she added.
The Cuban woman recounted the experience of a man who contacted her, desperate after receiving several quotes from different companies, all above $400 per month. "He has been in this country for three months and is desperate because he doesn't know if he should use the car, sell it back, or can't even put it under his name because he doesn't have insurance," she explained. She advised him to seek help from a family member or friend.
The situation is difficult not only for the newly arrived but also for those who have been in the country longer. "It's very difficult, I hope it starts to change at some point. For those of us who have been here for a while, we're struggling with insurance. The people who are arriving have no idea," she emphasized.
Finally, she mentioned that in Florida, homeowners are the most affected by high home insurance prices, indicating that the insurance price crisis is widespread across the country.
This video has resonated with many TikTok users, especially among Cubans, who agree that the prices are high.
Understanding Rising Insurance Costs in the U.S.
Here are some common questions and answers regarding the rising insurance costs in the United States, particularly for new immigrants.
Why are auto insurance prices so high for new immigrants?
Auto insurance prices can be high for new immigrants due to a lack of credit history, driving history, and familiarity with the local insurance market, all of which can lead to higher premiums.
What can new immigrants do to lower their insurance costs?
New immigrants can lower their insurance costs by seeking guidance from friends or family, comparing quotes from different companies, and possibly bundling their insurance policies to get better rates.
Is the high cost of insurance a nationwide issue?
Yes, the high cost of insurance is a nationwide issue, affecting not only auto insurance but also home insurance, with states like Florida experiencing significant impacts.