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What do you pay for insurance?

24

Comments

  • nitroclnitrocl Member Posts: 5
    Does anyone know when buying a new car in NJ if your name has to be on the insurance card or can you be part of someone elses policy? Do the dealers call the insurance company or do you just show your card? Will I have to get insurance in my own name (Which will cost me over $4800 a year!!!) What if i get financing outside the dealership? does how my car is insured matter to them still?
  • solaraman2003solaraman2003 Member Posts: 92
    How do I find out what all the alternatives for my state (NJ)?
  • solaraman2003solaraman2003 Member Posts: 92
    I'm paying about $2450/year and I am pissed.
  • redtiger28redtiger28 Member Posts: 2
    I am looking to buy a new vehicle - down to three: Chevy Equinox, Saturn Vue, and Ford Escape. I want to know approximate costs of auto insurance, especially in relation to one another, to help me make the decision. I DON'T want to get a "free quote" because I know that they check my credit and I don't want to have multiple credit checks on my credit report. I called my current insurance company and they told me they can't give prices, even approximations (that is all I want) without VIN #'s. They said that since the three of them were all about the same value, all three of them would be about same price. I know this is not true because for the rates, they consider crash data, theft data, etc. which is different for each vehicle. I have tried searching on the web and only can find sites that will give me quotes. Where / how can I find the approximate cost of insurance for vehicles? I live in Florida.
  • jlawrence01jlawrence01 Member Posts: 1,757
    If it were me, I would be CHANGING insurance companies at the next renewal. The agent should be able to give you an approximation of the insurance amount for any "ordinary" vehicle very quickly. IMO, that is a complete LACK of service.

    For the past ten years, after I fired a couple agents for poor customer service (i.e., not following up on claims, making errors on the quotes, etc.), I went with a company (Metropolitan P&C) with telephone service and NO agents. I saved substantially.
  • tornado25tornado25 Member Posts: 267
    To at least address your concern on the credit issue, I can say this: that in most cases, a full bureau isn't pulled. it's just a snapshot sort of thing that uses certain credit characteristics (not all) combined with loss history to determine the segment you'd go into. Thus, it's not always considered to be a credit check, like that of applying for a credit card or the like.

    In addition, multiple pulls/checks in a specific period of time are calculated into your score as one check. This was a change in the FCRA when it was renewed. This means if you go from dealer to dealer looking for a car and each pulls your bureau in (I think) 30 day period, the score will reflect that as 1 pull.

    Lastly, it's important to understand that the way most insurers use credit isn't as simple as using your credit score like an auto lender does. Not like >720 is preferred, 719-680 is standard, etc. Each has a proprietary model that takes credit and claim history into account.

    I do agree that you should be able to get a guess from your current agent on each of those. At a minimum, they should say "if it's XLT, it's this, if it's LS, it's this", etc. It does help if you know the trim line on each of the models, as there is a difference between an Escape XLT and Escape Limited.

    The agency's probably been burnt before where they were told it was XLT and the VIN verifies it to be a Limited and the customer complains. I always ask for the trim line and tell them the rate is based on that. If they have the VIN, great. But, if the VIN, provided later, shows it to be a Limited, they only have themselves to blame, because they didn't know what the heck they were buying.
  • redtiger28redtiger28 Member Posts: 2
    I did give my insurance company the trim lines that I was / am interested in (LT, XLT), although insurance company didn't seem to take that into consideration. Other any suggestions?
  • jasmith52jasmith52 Member Posts: 462
    Since this didn't copy too well:

    See the PDF file at http://www.statefarm.com/media/release/vehclrate.pdf

    Note A's are the lowest premiums, C's are the highest:

    STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY
    All Models
    MAKE
    2002 US
    MODEL
    STYLE
    2003 VSD
    2003 DTI
    MAKE
    2002 US
    MODEL
    STYLE
    2003 VSD
    2003 DTI
    KEY-- Vehicle Safety Discount (VSD)
    The 2003 VSD columns indicate the percentage discount for the
    medical payments/personal injury protection premiums
    Damage and Theft Index (DTI)
    A -- charged lower-than-standard collision and comprehensive premiums
    B -- charged standard collision and comprehensive premiums
    C -- charged higher-than-standard collision and comprehensive premiums
    2d=2-door Conv=convertible spw=sport wagon
    4d=4-door van=van 2wd=2-wheel drive
    S/W=station wagon pk=pick -up 4wd=4-wheel drive
    ACURA
    CL 2d 20% B
    MDX 4d spw 30% A
    NSX-T 2d 30% C
    RL 4d 30% A
    RSX 2d 0% C
    TL 4d 30% A
    ASTON MARTIN
    Vanquish 2d 20% B
    Vantage 2d 20% B
    Vantage Conv 20% B
    AUDI
    A4 4d 30% C
    A4 S/W 30% A
    A6 4d 40% B
    A6 S/W 40% A
    A8 4d 30% A
    Allroad S/W 40% A
    S4 4d 30% C
    S4 S/W 30% A
    S6 S/W 30% A
    S8 4d 20% B
    TT 2d 40% B
    BENTLEY
    Arnage 4d 30% A
    Azure Conv 30% A
    Continental 2d 20% A
    BMW
    325Ci 2d 30% B
    325Ci Conv 40% B
    325i 4d 30% B
    325i S/W 40% A
    330Ci 2d 30% B
    330Ci Conv 40% B
    330i 4d 30% B
    525i 4d 40% B
    525i S/W 30% A
    530i 4d 40% B
    540i 4d 40% B
    540i S/W 30% A
    745i 4d 40% A
    M 2d 30% C
    M3 2d 30% C
    M3 Conv 40% B
    BMW
    M5 4d 40% B
    X5 4d spw 30% A
    Z3 2d 40% A
    Z8 2d 30% B
    BUICK
    Century 4d 20% A
    LeSabre 4d 30% A
    Park Avenue 4d 20% A
    Regal 4d 30% A
    Rendezvous 4d spw 20% A
    CADILLAC
    DeVille 4d 30% A
    Eldorado 2d 40% A
    Escalade 4d spw 20% A
    Escalade Ext 4d spw 20% A
    Seville 4d 30% A
    CHEVROLET
    Astro van 20% A
    Avalanche 1500 4d spw 30% A
    Avalanche 2500 4d spw 30% A
    Blazer 2d spw 20% B
    Blazer 4d spw 20% A
    Camaro 2d 0% C
    Camaro Conv 20% C
    Cavalier 2d 0% C
    Cavalier 4d 0% C
    Corvette 2d 40% C
    Corvette Conv 40% C
    Express 1500 van 40% A
    Express 2500 van 40% A
    Express 3500 van 40% A
    Impala 4d 20% B
    Malibu 4d 20% B
    Monte Carlo 2d 20% C
    Prizm 4d 0% C
    S10 2wd pk 30% C
    S10 4wd pk 30% B
    Silverado 1500 2wd pk 30% B
    Silverado 1500 4wd pk 40% B
    Silverado 2500 2wd pk 40% A
    Silverado 2500 4wd pk 40% A
    Silverado HD 1500 2wd pk 30% B
    Silverado HD 1500 4wd pk 40% B
    STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY
    All Models
    MAKE
    2002 US
    MODEL
    STYLE
    2003 VSD
    2003 DTI
    MAKE
    2002 US
    MODEL
    STYLE
    2003 VSD
    2003 DTI
    KEY-- Vehicle Safety Discount (VSD)
    The 2003 VSD columns indicate the percentage discount for the
    medical payments/personal injury protection premiums
    Damage and Theft Index (DTI)
    A -- charged lower-than-standard collision and comprehensive premiums
    B -- charged standard collision and comprehensive premiums
    C -- charged higher-than-standard collision and comprehensive premiums
    2d=2-door Conv=convertible spw=sport wagon
    4d=4-door van=van 2wd=2-wheel drive
    S/W=station wagon pk=pick -up 4wd=4-wheel drive
    CHEVROLET
    Silverado HD 2500 2wd pk 40% A
    Silverado HD 2500 4wd pk 40% A
    Silverado HD 3500 2wd pk 40% A
    Silverado HD 3500 4wd pk 30% B
    Suburban C1500 4d spw 40% A
    Suburban C2500 4d spw 20% A
    Suburban K1500 4d spw 40% A
    Suburban K2500 4d spw 30% A
    Tahoe 4d spw 30% A
    Tracker 2d spw 20% C
    Tracker 4d spw 0% C
    TrailBlazer 4d spw 20% A
    TrailBlazer EXT 4d spw 30% A
    Venture van 30% A
    CHRYSLER
    300M 4d 30% B
    Concorde 4d 20% B
    Prowler 2d 30% A
    PT Cruiser van 20% C
    Sebring 2d 10% C
    Sebring Conv 30% B
    Sebring 4d 10% C
    Town and Country van 30% A
    Voyager van 30% A
    DAEWOO
    Lanos 2d 0% C
    Lanos 4d 0% C
    Leganza 4d 0% C
    Nubira 4d 0% C
    Nubira S/W 20% B
    DODGE
    B1500 van 30% A
    B2500 van 40% A
    B3500 van 30% A
    Caravan van 20% B
    Dakota 2wd pk 30% C
    Dakota 4wd pk 20% C
    Durango 4d spw 30% B
    Grand Caravan van 20% B
    Intrepid 4d 20% B
    Neon 4d 0% C
    Ram 1500 2wd pk 20% C
    Ram 1500 4wd pk 30% C
    DODGE
    Ram 2500 2wd pk 30% C
    Ram 2500 4wd pk 30% C
    Ram 3500 2wd pk 40% C
    Ram 3500 4wd pk 20% C
    Stratus 2d 0% C
    Stratus 4d 10% C
    Viper 2d 30% C
    FERRARI
    360 Modena 2d 30% C
    360 Modena Conv 30% C
    456 GT 2d 30% C
    456 GTA 2d 30% C
    550 Barchetta 2d 30% C
    550 Maranello 2d 30% C
    FORD
    Crown Victoria 4d 20% A
    E150 van 40% A
    E250 van 40% A
    E350 van 40% A
    Escape 4d spw 30% A
    Escort 4d 10% C
    Escort ZX2 2d 0% C
    Excursion 4d spw 20% A
    Expedition 4d spw 30% A
    Explorer Sport Trac 4d spw 10% B
    Explorer 2d spw 10% B
    Explorer 4d spw 20% A
    F150 2wd pk 30% B
    F150 4wd pk 40% A
    F250 SD 2wd pk 30% A
    F250 SD 4wd pk 40% A
    F350 SD 2wd pk 40% A
    F350 SD 4wd pk 30% A
    Focus 2d 0% C
    Focus 4d 0% C
    Focus S/W 20% C
    Mustang 2d 10% C
    Mustang Conv 20% C
    Ranger 2wd pk 20% C
    Ranger 4wd pk 10% C
    Taurus 4d 20% B
    Taurus S/W 40% A
    Thunderbird 2d 20% A
    STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY
    All Models
    MAKE
    2002 US
    MODEL
    STYLE
    2003 VSD
    2003 DTI
    MAKE
    2002 US
    MODEL
    STYLE
    2003 VSD
    2003 DTI
    KEY-- Vehicle Safety Discount (VSD)
    The 2003 VSD columns indicate the percentage discount for the
    medical payments/personal injury protection premiums
    Damage and Theft Index (DTI)
    A -- charged lower-than-standard collision and comprehensive premiums
    B -- charged standard collision and comprehensive premiums
    C -- charged higher-than-standard collision and comprehensive premiums
    2d=2-door Conv=convertible spw=sport wagon
    4d=4-door van=van 2wd=2-wheel drive
    S/W=station wagon pk=pick -up 4wd=4-wheel drive
    FORD
    Windstar van 30% A
    GMC
    Envoy 4d spw 20% A
    Envoy XL 4d spw 30% A
    Safari van 20% A
    Savana 1500 van 40% A
    Savana 2500 van 40% A
    Savana 3500 van 40% A
    Sierra 1500 2wd pk 30% B
    Sierra 1500 4wd pk 40% A
    Sierra 1500 HD 2wd pk 30% B
    Sierra 1500 HD 4wd pk 40% A
    Sierra 2500 2wd pk 30% A
    Sierra 2500 4wd pk 40% A
    Sierra 2500 HD 2wd pk 30% A
    Sierra 2500 HD 4wd pk 40% A
    Sierra 3500 2wd pk 30% A
    Sierra 3500 4wd pk 30% B
    Sonoma 2wd pk 30% B
    Sonoma 4wd pk 20% B
    Yukon 4d spw 30% A
    Yukon XL C1500 4d spw 40% A
    Yukon XL C2500 4d spw 30% A
    Yukon XL K1500 4d spw 40% A
    Yukon XL K2500 4d spw 30% A
    HONDA
    Accord 2d 10% C
    Accord 4d 10% B
    Civic 2d 0% C
    Civic 4d 10% C
    CRV 4d spw 10% A
    Insight 2d 20% C
    Odyssey van 30% A
    Passport 4d spw 10% A
    S2000 Conv 20% C
    HYUNDAI
    Accent 2d 10% C
    Accent 4d 0% C
    Elantra 4d 0% C
    Santa Fe 4d spw 20% B
    Sonata 4d 0% C
    XG350 4d 20% B
    INFINITI
    G20 4d 20% C
    I35 4d 30% A
    Q45 4d 30% B
    QX4 4d spw 20% A
    ISUZU
    Axiom 4d spw 20% A
    Rodeo 4d spw 20% B
    Rodeo Sport 2d spw 20% B
    Trooper 4d spw 20% B
    JAGUAR
    S-Type 4d 30% A
    VDP 4d 30% B
    XJ Sport 4d 30% A
    XJ Super 4d 30% A
    XJ8 4d 30% A
    XJR 4d 30% B
    XK8 2d 40% B
    XK8 Conv 40% A
    XKR 2d 40% B
    XKR Conv 40% A
    X-Type 4d 20% B
    JEEP/EAGLE
    Jeep Gr Cherokee 4d spw 30% A
    Jeep Liberty 4d spw 20% A
    Jeep Wrangler 2d spw 30% B
    KIA
    Optima 4d 10% C
    Rio 4d 0% C
    Rio S/W 20% C
    Sedona van 20% B
    Spectra 4d 0% C
    Sportage 2d spw 20% C
    Sportage 4d spw 0% C
    LAMBORGHINI
    Murcielago 2d 20% A
    LAND RO
  • tornado25atornado25a Member Posts: 25
    Wow. Well, then, I'd say your agent sucks. Normally, I don't like to run around bashing others in the industry, especially those I don't even know. But, to have a current client give them as much info about a vehicle, aside from the VIN (Heck, if you've got a VIN, you probably are pretty close to having a vehicle and it's a little late) and they can't quote. To be blunt, that's awful.

    It might be better to shop around, but you might run into a similiar problem, because as a new business prospect, they WILL want the VIN of the vehicles you'd be insuring and to me, that's justified.

    I DO have a suggestion, that actually just came to me. Go to the websites of the dealers that might have these vehicles. Pick an Equinox LT, and Escape XLT, etc that are equipped as you like. Often the website will show the VIN. I know for certain that on Chrysler's corporate sponsored individual dealer websites, you can actually view the stickers of the new car inventory.

    Give 'em that VIN (and say, I don't know if this is the exact one, but IF this is what I buy, what is the premium?). That should work if they've got a hard line about quoting w/ VINs. Like I said, I only use the VIN if they have it to quote because a certain seequence in the VIN tells us what the trim line is, etc and that is the only real distinction we make within a model for rating. But, if somebody TELLS me it's XLT, I believe him! And give the quote based on that.

    Hope this helps.
  • prophet2prophet2 Member Posts: 372
    As tornado said, a lot of information is contained within the VIN: manufacturer, model, year, trim line (base, mid-line, top-line), engine, transmission, country of origin. For Honda, features tend to be contained within each trim line (e.g. EX Accords have moonroofs, alloy wheels, CD-changers, all-power, etc.), while others like Toyota are more ala carte.

    I just picked up a used Nissan Altima. The insurance rater quickly determined it to be a 1998 Altima SE and gave me an immediate quotation as an add-on to my existing policy.

    If the agency sucks, they suck. There's no other way to say it.
  • rroyce10rroyce10 Member Posts: 9,332
    ....... Just go the most expensive Tribute/Escape on the lot (probably a Limited) and write down the Vin# and use that, simple ...

                                 Terry.
  • lancerfixerlancerfixer Member Posts: 1,284
    I pay a little over $600 a year for full coverage on a '98 Volvo S70 Turbo and liability on a '94 Honda Accord. That's one of the things I decided was nice about moving to Iowa from the east coast, along with not paying a third of a mil for a 40 year old 3 bedroom ranch on a postage stamp lot in a suburb that's convenient to nowhere... :-)
  • stickguystickguy Member Posts: 50,439
    Lance: You made me cry with that $ info. $600 in the great state of NJ might get me basic minimum coverage on a '92 Taurus, if I went with the high deductible and signed away all my rights.

    Full coverage on a '99 Quest is now about $850, IIRC, and an '01 Miata is about $1,200, and these are both in the pleaseure catagory (LT 3 miles each way to work).

    2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.

  • bobw92bobw92 Member Posts: 11
    For my 2002 Chevy Suburban LT 4x4, I pay $620 a year, for my 2003 Subaru Outback, I pay $590 a year.

    This is full coverage (collision/comp/uninsured etc.). Pretty much everything but roadside assistance and towing. The only reason the Suburban is higher than the Outback is the Collision/Comp part of the premium is higher, probably because the book value of the Suburban is higher.

    I use Farmers Insurance, they are the least expensive around here. I've received quotes of up to 50% higher from other companies.

    The things that help are...
    - I live in a small town.
    - Both vehicles have lower than average claims (see jasmith52's list in post #64)
    - I have every discount (multiple cars, accident free, no tickets, I have my homeowners policy with Farmers).

    I'd hate to see what my rates would be if I lived in Los angeles or New York!!
  • ssaundersssaunders Member Posts: 4
    Has anyone heard anything (good/bad) about this company? They gave me a great quote. I am seriously thinking of using them.
  • smittynycsmittynyc Member Posts: 289
    Just to give a frame of reference to the "I'd hate to guess what I'd pay if I lived in New York" folks: I live in the Bronx and have a 2004 Forester X. My wife's round-trip commute is a grand total of 6 miles. The car is parked in 24-hour manned, secured garages both at home and her work.

    For comprehensive + collision with a $500 deductible, Geico charges us $1900/yr. We're both in our mid-30s, no accidents, no moving violations, 750+ FICO scores, etc.

    Everyone feel better?

    It makes me wonder what kind of insurance my fellow Bronxites are carrying on their Kias and Jeep Libertys and what-not--my guess is none at all, or nothing worth a damn.

    P.S. Lancerfixer, if you could let me know where those $333,000 homes are, I'd appreciate it. The house you describe goes for at least half a mill, even in "bad" cities or neighborhoods.
  • jlawrence01jlawrence01 Member Posts: 1,757
    That's why a lot of us when offered the *DREAM JOB* in NY or SOCAL have said (politely), "NO THANKS."

    Actually, I just traded a 5 BR house close to Lake Erie outside Cleveland for a 2BR condo in the outer suburbs of Chicago, so I know where you are coming from. But I am paying only $360 a year for full coverage on a '96 Oldsmobile.
  • lancerfixerlancerfixer Member Posts: 1,284
    LOL.

    I moved from the outer suburbs of Boston, so I was using that area as a frame of reference.
  • rumpletzerrumpletzer Member Posts: 39
    30 years old, 2004 Honda Accord, full coverage, clean driving record.

    I was living in an apartment near Santa Barbara, CA driving 60 miles to work every day. My Amica rep told me that the commute added $40/year to my premium.

    Two weeks ago I moved 50 miles closer to work (an hour north of Los Angeles). Thinking I'd save that $40/year, I called them up to let them know my new address... and my premium goes up nearly $400.

    I get new quotes from Geico, State Farm, Farmer's Insurance, Farmer's daughter, Allstate, and everyone else I can think of. Amica is still the least expensive.

    To top it all off, I got an "Amended Declarations" form in the mail last night. Amica changed my address but never bothered to account for the shorter commute. As of this morning, I save $23/year for living only 9 miles from work. *sigh*
  • anonymouspostsanonymousposts Member Posts: 3,802
    The closer to the city you get the higher the insurance. The further you get from the city the higher the insurance. My MIL (who lives in the city of Atlanta) pays $1300 every 6 months for liability on a 93 Accord and full coverage on a 2000 V6 Accord while we only pay $1000 every 6 months for full coverage on 4 cars 60 miles west of the city.
  • jlawrence01jlawrence01 Member Posts: 1,757
    Don't feel bad. Most large insurance companies rate by zip code.

    On my first vehicle, an '80 Chevette, I was quoted $800/yr for full coverage (in '84) and I was living in Dearborn, MI. The agent informed me that if I had moved 4 blocks into the city of Detroit, I would be paying $1500 for the same coverage.
  • SylviaSylvia Member Posts: 1,636
    A reporter hopes to interview individuals who had superfluous insurance policies and cancelled them because they felt they didn't really need them. Please send your daytime contact info and a few lines about your experience to jfallon@edmunds.com no later than Thursday, August 5, 2004.

    Thanks,
    Jeannine Fallon
    PR Director
    Edmunds.com
  • eharri3eharri3 Member Posts: 640
    I've learned my lesson... Customer loyalty is for the birds in the insurance game. I will be looking to jump ship every year from here on in. Started with triple A on my parents' policy in Philadelphia, at about 2196/yr just for me for 95 Ranger 4-cy. stickshift regular cab. Moved out of the city to delaware COunty, a suburb 10 minutes south. Profile is 24 year old male, Single, great credit. Bought a 2004 Dodge Dakota Quad CAb V8 and then when AAA wanted to go closer to 3K per year I switched to Allstate, who got me down to 982 for 6 months or about 1986 for the year. Went a year with Allstate, then all of a sudden I get my renewal notice and it's now 1182 for 6 months, with no new accidents or tickets. So I call in to know why and it turns out they never told me that wonderful new car discount I got expires after a year plus there was some kind of increasing in state insurance fees in PA that is passed on to me. So I am now with liberty mutual, my third ins company in 3 years, at 1760 for 1 year or only 500 more than what Allstate wanted for just 6 months. This is WITH 1 accident and 1 ticket less than 5 yrs ago. Can't wait till I turn 25 in 05.
  • chevygirlchevygirl Member Posts: 18
    They are friendly, and good to work with. Their website rocks! Oh, and i pay around $110/ month ($500 deductible) for full coverage on a 2004 Cavalier. I am a 33 year old female in the southwest 'burbs of chicago.
  • rickvhrickvh Member Posts: 28
    I had progressive years ago, was the first company I had my own insurance with and I of course was paying very close to what my car payment was at that age. The big companies like State Farm, Farmers, Allstate wouldnt touch me for less than $450-500/month so I had to go with one of the "all risk" type companies like progressive to get below the $300 mark. I went through the credit union I was working for at the time (working for them didnt give any better rate than a standard member), and the broker was able to get me a fairly decent rate of $195 a month on my pseudo sports car Geo Storm Gsi. Unfortunately 2 years after having them I forgot to pay once and got cancelled, after talking them into reinstating me my rate went up $700/year.

     

    I was a little bitter and went shopping again and got almost the same rate (about 195/mo) with Liberty mutual, after a couple years it nudged down and I bought a new jeep wrangler. I turned 26 and my rate plummeted to $90/mo which is where I stayed for quite some time until I had a very minor fender bender (which I offered to pay the other driver in cash on the spot for but they insisted on claiming it on my insurance)..

     

    Anyhow since I've gone over to the other side of the fence. I'm an Agent now and learned a lot more about how things work. Here are my suggestions..

     

    Top things that destroy your insurance rates (in order of severity):

     

    DUI

    Age

    Moving violations

    Credit Score

    Claims (including glass)

    Lapse in insurance coverage

    Type of car

    Locale

     

    Most of these things can be changed other than Age, if you are young (below 25 and 30), do the following:

     

    If full time student get 3.0 GPA or better (I know i can offer 20% off just based on that)

     

    Attend drivers courses, could save 5-15%

     

    If 21 or younger and in school, get on parents policy as an additional driver with their discounts.

     

    You think young drivers pay a lot for insurance, try a 19 year old that has a DUI on record, I recently quoted one $1035/month!

     

    Once you've passed the 25 and 30 year marks, shop. And always have your policies expire just AFTER your birthday. I made this mistake, I turned 25 2 weeks after expiration and didnt realise the discount for 12 more months because I thought they would adjust it for me! You always have the option of cancelling your policy after you have another carrier in place though (stressing you dont lapse your coverage by cancelling then looking).

     

    The biggest problem with Progressive and Geico is the only multi policy discount they can offer is for auto because they dont write fire (home/renters) policies or life. Farmers, Allstate, and State Farm offer discounts for package policies (i'll let you guess which one i work for). The great thing about being young is that you can buy a 5 year term life policy for next to nothing if youre in good health, were talking $5-12/month if you can get a preferred life plan, why life? Well other than the benefits of having a life policy, you can get 10% off your auto, and when you pay $3000 a year or more that equates to $300. So mathmatically it works out, 5x12 = $60/year with a net gain of $240 to $12x12 = $144/year with a net gain of $156. Plus in some cases contributions to life are also tax deferred/deductable. Also renters insurance is dirt cheap, somewhere in the range of $20-35/month to buy you another 10-20% off auto as well as the benefit of having 50k in coverage on your personal property and 200k in personal liability! Also a note to the gentlemen from NJ, any agent thats not willing to quote you on a 3 policy package is nuts. I'll write em all day long and be tickled pink, especially if you're willing to pay 2500/year for auto and be happy about it ;)

     

    As for Credit Score, if you have bad credit, find an insurer that doesnt rate based on credit.. there are still some left out there.

     

    Lapse in coverage is something that you really have to keep on top of, having it happen starts your counter over at 0 again and you cant get preferred carriers at a decent rate for 3 years. Its something completely under your control so dont let gaps occur.

     

    Claims, as an agent, i'd love to see the extra commission. But I would advise against the claim, even if you arent at fault if you can afford to pay it. A $200 claim can cost you a lot of money when your rates get raised. Insurance is to keep you from ruining your life when something really bad happens. Most people will rarely or never have a claim, but the problem is you never know if its going to be you that loses control of your car for some reason and seriously injures several occupants of a van. Another reason to carry higher than state minimum liability. When something like that could cost you everything you own and most of the income you havent even earned yet or you file bankrupcy, the extra $20 a month to get 100/300/100 coverage seems like a great trade.

     

    If you can afford it, raise your deductables to 1000 or 1500. It might sound like a lot, but look at the difference in policies. A $250 deductable could cost anywhere from $200-700 more a year, if you dont have any claims for 2 years, you can set that money aside and call it free.

     

    The two biggest things you can dump off auto polices are the conveniance coverages of glass and gap. Sure they sound good in theory, but glass costs a good $100 a year. Plus if you have too many glass claims you get dropped. Gap insurance is extremely expensive for what you get. Unless you drive a $80k car that depreciated $30k just driving it off the lot, its likely not worth it.

     

    As for car and region, some people gotta have a certain car and often dont have a choice where they life.. but those are also factors.

     

    Just keep in mind what you can afford to lose and pay for yourself and what you cant. $100 a year for glass or $100 a year to bump your liability from 15/30 to 50/100 or 100/200? What provides a better value? If you cant afford a $300 windshield, you definately shouldnt be driving with 15/30 coverage.

     

    Also remember that only 1/3 of the people on the road have proper coverage (1/3 not enough, 1/3 none at all). So dont expect the other guy to be able to take care of you even if it is his fault.

     

    Sure I might sound like an insurance salesman, cause I am. Believe me, I hated paying for insurance when I was 21. But I tried as best as I could to stay out of trouble and in my 30's i'm rewarded with much better rates. I did a quote for a friend of mine recently (to contrast the DUI quote i stated earlier), his 1984 Jeep with 100/200/100, comp/collision $1000 ded, packaged with his other policies was $14/month. Course he's over 30, perfect driving record, perfect credit, homeowner and such..
  • anonymouspostsanonymousposts Member Posts: 3,802
    We've been with Progressive for 3 years now and they are the cheapest we have found. We have full coverage comp and collision with $500 deductible and uninsured motorist with a $250 deductible for $1000 per 6 months on 4 cars.

     

    2004 Odyssey

    2004 Accord EX 4 cylinder

    2003 Civic Si hatch

    1994 Lexus LS400

     

    No other company has been able to come close to Progressive's rate. They also seem fairly customer-friendly. It's worth noting that the 94 Lexus is 50% of the total premium.
  • jlawrence01jlawrence01 Member Posts: 1,757
    Every year, I try the Progressive website, enter in all the information and get a quote from Progressive. Progressive has ALWAYS been the most expensive of the three quotes that THEY have provided and have been about 2x what I am currently paying through Metropolitan P&C for identical coverage.

     

    I have a good driving record, carry collision and comprehensive with a $1000 deductible, and carry a $3M liability umbrella.
  • rickvhrickvh Member Posts: 28
    Progressive is going to be more competitive among higher risk drivers and vehicles. I often cant compete with them when it comes to drivers younger than 25 that have no interest in other lines of insurance like home/renters and life. But those arent the types of risks that preferred carriers are looking for so they charge extra.

     

    Heres a good example: My mom, 59 years old, clean record, flawless credit, favorable zip code, and a toyota camry. $35/mo or $228/6 months on 50/100/50 with $1000 ded. (I generally do 1k ded with the "waiver of deductable" option we have with the rental car loss of use rider) The only other line she has is homeowners. For an additional $2.50/month or $15/6 mo. the limits go to 100/300/100, and $46/mo she gets 500/500/500 with an additional $50 off any umbrella up to $5m. So $11/mo extra buys her $450,000 more liability and PD.

     

    I of course have to raise her homeowners personal liability to 500k from 300k to write the umbrella, but that only costs her $1 a month more on the homeowners side.

     

    Progressive and Geico both kill our rates when it comes to drivers under 21 and people with DUI's or lots of points on their record. Especailly if they only want one line (auto). But those are also the highest risk drivers out there.
  • anonymouspostsanonymousposts Member Posts: 3,802
    I am 25 my husband is 34 and we both have a clean driving record. We are also homeowners with excellent credit. Progressive still came in waaaaaaaaay under the competitors.
  • rroyce10rroyce10 Member Posts: 9,332
    ... **But I would advise against the claim, even if you arent at fault if you can afford to pay it. A $200 claim can cost you a lot of money when your rates get raised** ..

     

                     Bingo .!

     

               Sometimes it's better to eat the $200/$400 than to have your insurance go up by $50 bucks a month in 6 months .. thats why it's good business to have higher deductables ............. :)

     

                                  Terry.
  • rickvhrickvh Member Posts: 28
    Several other factors are taken into account, not all by all insurance companies but in general:

     

    Age

    Type of car

    Region (zip code, city, state etc)

    Driving record

    Length of commute/amount driven per year

    Driving experience

    Loss history

    Credit score

    Lines of insurance with same carrier.

    Marital status

    College grad

    GPA

    Occupation

     

    How much of a discount does progressive offer you on your home/life policies? I can offer 25% just on that alone. Occupations like Police, Firefighters and teachers take off another 25%, drivers over 30 with a perfect record, take off another 35%. Multicar discount 15% ish.

     

    It also depends on the limits and deductables. Progressive often offers better rates at the minimum coverage limits and low deductables compared to higher ones of $500 - $1000 - $1500 deductables and $300,000 - 500,000 in coverage.

     

    That said, some cars, no matter how perfect everything else is, are just not competitive at all. Generally were talking about things like ferrari's, some of the more powerful (but not always most expensive) Mercedes, etc. Theres always that certain car that a company like Allstate is going to not do well on, or that certain zipcode that is going to be really bad from one carrier to the next. Plus coming in waaaaaaay under means $10/year to my grandma, to me about $300/year not sure what it is to you though ;)
  • rroyce10rroyce10 Member Posts: 9,332
    ..... Yep, all good points - extreeemely unfair, but good points .. along with all the others, the credit and the health history come into play, and some are now going back 10 years for DUI's ...

     

                                      Terry.
  • lemmerlemmer Member Posts: 2,689
    They care about my GPA? How do they know my GPA? Does the quality of the college come into play, or does a 4.0 at Duke and a 4.0 at the local community college rate the same?

     

    I never knew they took so many things into consideration.
  • kyfdxkyfdx Moderator Posts: 235,200
    GPA is for the "good student" discount for dependents.... Not for after you graduate.. Only your mother cares about it, then...

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  • lemmerlemmer Member Posts: 2,689
    Thank God...

     

    I was really worried about the D I made in Calc II in 1988.
  • anonymouspostsanonymousposts Member Posts: 3,802
    To the best of my knowledge Progressive doesn't do home/life insurance. Even when we had our home and auto insurance through Allstate they were more expensive. The premium was more than twice as much to be exact.

     

    We are covered for 100/300/50 liability and uninsured motorist with $500 deductible comp/collision and $250 for uninsured motorist.

     

    Our 6 month total for 4 cars is $1060. Closest rate was Geico and that was only on 3 of our 4 cars.
  • cticti Member Posts: 131
    My wife (then girlfriend) and I bought a car 2.5 years ago. We went with Progressive because they were a good price and I really liked the website.

     

    I still have Progressive insurance on that car (a 2000 Kia Sephia - don't laugh). My wife is in Hawaii and I am in Georgia, so after the insurance ran out in December I switched my insurance from California to Georgia. (We are in the military...)

     

    My insurance is $451 for six months. I was playing around with the Progressive website to get different quotes on vehicles I was thinking of buying. I used a fake name and didn't put my SSN in because I didn't want them checking my credit.

     

    Curiously, when I put the information for the car I currently own in, the quote came back as $602 for the identical level of coverage.

     

    Does having good credit REALLY make that much of a difference? My credit is only ~700 so I figure not. Or could it be that I am getting a discount for being a current Progressive customer? Using a fake name on a Mazda 3 (one of the cars I am looking at) returned a quote of $602 (identical to the Kia quote), but using my real name and SSN returned a quote of $488 for the Mazda 3

     

    On a Liberty Mutual online quote, giving them my SSN and having my insurance checked had no effect at all on the insurance quote.

     

    So, what's happening?

     

    Thanks,

     

    Jason
  • rickvhrickvh Member Posts: 28
    Say for example your credit is in the 700 range (thats actually pretty decent) and the insurance company takes a few factors and combined with items on that credit report decides you have a risk factor of "G" (also assuming A is perfect, and Z is the worst possible).

     

    The insurance company has a base rate of say $800/6months on a 2000 kia sephia. A person with a risk rating of G asks for a quote and the risk code on the chart says that anything with A-H falls in the 35% off base. You would be quoted $520/6 months. If you made up a SSN, it would come back as a no hit which would be off the charts so they would default it to base rate of Z so you would be quoted full price.

     

    edit: I used Liberty Mutual for 5 years and for the first 4 of it, I dont think they used credit score to determine risk. But on my last renewal I noticed a hit on my credit report from them for the first time. Its possible they just pulled it for info and still dont use it for risk though.
  • rickvhrickvh Member Posts: 28
    Its almost unheard of to get rates below $400/6 months on anything inside a large city. Do you live in a smaller city or outside city limits? My mom lives in a town of about 60k people and pays $440/year for her 1 car. Makes me very envious.

     

    UM/UIM dont (that i've ever heard of) have deductables, if you take a look at your declarations page it should just have them for comp/collision.

     

    The comment on Progressive offering other lines was just a bad joke on my part. Sorry :/
  • rroyce10rroyce10 Member Posts: 9,332
    ..... 700 is a great score, so you will be fine ... the problem with insurance companies using the scoring system is, if Mr. Consumer buys a home, then 2 months later he buys a new vehicle, then some financed furniture, they will use the lower score - it can change the rate by $30/$90 a year, depending on the insurance company .. now, thats a rip-off.!

     

                                      Terry.
  • rickvhrickvh Member Posts: 28
    Not sure how the other guys do it, but the inquiries we do are considered soft hits that dont change FICO score and are only viewable by the consumer. We are only allowed to run it once every 10 months, so if one of my clients were to come to me with this situation, i would advise them to request that I run it before this process so it could take the reading at the optimum time.

     

    Then I wouldnt/couldnt run it again till the following year giving them time to sort out finances and such.

     

    But you are correct, if the score was run after a bunch of new stuff hit the boards there could be higher rates in the works.
  • cticti Member Posts: 131
    Thanks, guys.

     

    I thought it was odd that Liberty Mutual would have NO change when inputting a real SSN vs. no SSN and Progressive would have a 25% drop. Never would have thought the difference would have been that big.

     

    Could have been they were using different credit score companies or that they had different cut-offs for rate changes.

     

    In any case, I'll be sure to keep my credit good from now on...

     

    Jason
  • ezshift5ezshift5 Member Posts: 858
    ..like Progressive, GEICO, Deerbrook ad nauseum

    treat you like scum following a DUI....

     

    I went from 290/6 months with USAA to 1400/6 mos. Progressive to 1100/6m Deerbrook.

     

    Currently, 21st Century: 733/6 months. Same cars. circa 810 credit, multi home owners..all positive except for driving into a swamp and having the CHP help me to dry land (and a dry cell) tks...ez
  • rickvhrickvh Member Posts: 28
    I definately agree with you. The preferred companies raise their rates so high that they pretty much say hasta since you couldnt possibly afford $500+/month forcing you to find one that will take you for about 200/month.

     

    Most take into consideration the last 3 years on pretty much any incident. The more choosy companies can go as high as 5 years on certain things like DUI or suspended license. Its amazing how easy it is to get your license suspended too.

     

    Local cities here in AZ do it all the time for those photo radar tickets now. Even if they havent actually served you with the ticket. I think that is so wrong I cant even see straight thinking about it. I have big problems getting all of my mail for some reason, and it is quite possible I can get a photo ticket and not even know it. then have no recourse.

     

    The crazy thing about DUI's is how Insurance and Government love to publicize and condem it as much as possible. Its the easiest scapegoat because who is going to be on the side of a person that has one? But look back 40-50 years ago, you'd have to be passed out in your car at a stoplight to even have a chance at getting arrested for it. Something that used to be a slap on the hand has turned into the nastiest moving violation you can get.

     

    I dont think lower level DUI's should be treated as they are. Even good people make mistakes. I read every so often about Judges, Lawyers, members of Congress, mayors or whatever else getting arrested for DUI.

     

    Its way more common than most people think. The current system they use for punishment doesnt work, because the worst offenders dont pay their fines, and dont carry insurance, drivers license etc anyway. Why should they even care if they get arrested again? They sit in jail a few months, get back out, beat their wife and kids and hit the bottle again.
  • ezshift5ezshift5 Member Posts: 858
    ..your nice quick response appreciated....

     

    At 21st Century renewal time, I'll be a few months past the three year mark.

     

    I would respectfully solicit your industry opinion

    vis-a-vis my current 733/6 month rate. Up? Down?

     

    I think the DUI experience (at least in my case) was REALLY effective. The fines, attorney fees, SR-22, public service, MADD lectures, pickup of trash (and making new friends in jail) - - - not to mention $5-7k in much heftier insurance premiums..........you'd have to be a real scuz to ignore this sort of social, economic and political pressure.....thanks again.......ez
  • rickvhrickvh Member Posts: 28
    My advice is to go down to the motor vehicl dept and get a copy of your driving record and see exactly what day the dui was entered on there. Also look at any suspensions and other citations that were on there, find the last one date wise and go looking for insurance 1 day after 3 years has passed.

     

    Call 21st century and tell them you want to have your risk rating recalculated that day too and what your new rate is. Also go to 5 different companies at least, including the bigger ones, allstate, farmers, state farm, also look for cross line discounts for home on these ones, if you have several homes, find one that sits in a zip code they charge the least on then consider using that as the garaging location of your vehicle. The variance for both homeowners and auto rate can be fairly substantial.

     

    The biggest thing about getting quotes is being completely honest about the driving record. I had 2 people I quoted just last week that said they had no or 1 citation and ended up with a nasty list of stuff on their driving history. So it threw my quote off by quite a bit. We dont pull the actual driving record and loss history until the very end (because it costs money to do). If someone tells me they had a ticket that isnt on their record, I can take it out when I do the app and the rate goes down instead of up.
  • prophet2prophet2 Member Posts: 372
    In our area:

     

    First offense - $500-1000 fine; 90-day license suspension (30 days absolute, 60 days conditional [can drive to-and-from work]); DUI workshop (watch photos/videos of mangled accident victims, etc.);

     

    Second offense - minimum $1000 fine; one-year absolute license suspension;

     

    Third offense - even larger fine; five year license revocation (may re-apply for license after the five years); jail-time.

     

    These are applicable to violations committed within a 36-month window. For insurance rating purposes, however, DUI goes back five years.

     

    Three of my clients reached stage 2 although there were no accidents caused. In addition to the financial penalties, two of them were threatened with divorce by their wives if they ever got a DUI again. I'm happy to say that they have remained clean, not even a "regular" citation.

     

    Accumulation of 12 traffic violation points within 36 months also leads to license revocation (e.g. speeding can net up to three points - four tickets might cause loss of license).
  • jlawrence01jlawrence01 Member Posts: 1,757
    >>Its almost unheard of to get rates below $400/6 months on anything inside a large city.<<

     

       That paints with a really broad brush. There are people who live in large metropolitan areas and pay under $400/6 mos. I paid $350/yr in both the city of Cleveland and the Chicago suburbs.
  • ezshift5ezshift5 Member Posts: 858
    ....the last five years are considered for DUI vs. insurance purposes....

     

    But I'm seeing - more and more - seven years of consideration....

     

    ..I'd really like to be mistaken here....

     

    Actually, were the truth to be know, USAA coverage again would be just fine.........

     

    best.........ez
  • chevygirlchevygirl Member Posts: 18
    I don't know if Progressive is the cheapest for me. I have on my record 2 not at fault accidents. I have fair credit. BUT- That being said, the people at Progressive always treat me like a million bucks, and they have a very handy and informative website. There's a lot more to insurance than saving some duckets.
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