Holy Insurance Premiums, Batman!

[GuardianAsher]

So I just got myself a new car... 2010 Honda CR-V EX 4WD in black. Replaces the poor little multi-colored 2005 Pontiac Sunfire I've been driving. I'll get pics up later (when I wash it... black attracts this Texas dirt like nothing else), but I just went to add it to my insurance policy and... wow.

Before, I had my 05 Sunfire and a 1968 Ford F100 pickup truck on, liability coverage only, and was paying about $550 every six months or so, with me as the only driver. (I'm young, I'm male, and I had a wreck when I was younger so.. it sucks.)

I just went to add the CR-V to my policy, and with full coverage on it (Comprehensive+Collision, part of the deal of me getting the car from my uncle since it's still immaculate), my premiums went up to $1200 every six months.

I think the title of this post is appropriate.

Mind you, I could have gotten it much cheaper if I had just replaced and gotten rid of the Sunfire, but I'm going to keep it and use it since... I kinda like the bugger and it's paid for. And it's always nice to have a spare, reliable vehicle around, right? And besides, even if I took it off I'd only be looking at a $200 over 6 month difference anyway.

25 is when the premiums go down, right?

[EvilHorace]

Sort of. Become older, buy a house, get married and then yes, assuming you have no more accidents or violations, then yes, it will get cheaper

[FlyingPenguin]

Premiums never go down. Someone lied to you

Most important thing is to maintain a good driving record. If you do get a ticket for any reason, you should ALWAYS try to get it struck from your record. Don't be a nice guy and just pay the fine - you're being a sucker. Easiest way is to pay one of those "Ticket Clinic" law firms. Yeah, it's like $250 but they make it go away.

That said, it seems like there really is no logic to insurance premiums. I have three cars and an RV insured. The RV by far is the cheapest, ironically (considering it's the most expensive vehicle) because unless you live in the thing, it's considered a light-usage vehicle.

My wife's 2012 Lincoln Navigator SHOULD be the most expensive vehicle on our policy by a long shot, but it's not much more than my 2007 Camry. I can't figure out why her old 2005 Escalade actually cost more than the new Lincoln. Buying the Lincoln took over $200 off the policy. Go figure. I think someone just makes this up as they go along.

If you're using an agent (and you should be) have them shop around for a better price. There are down sides though - the longer you stay with the same insurance company, the more responsible you look on paper, and you get a discount for being a long time customer. Also a cheaper policy is not always a better deal when you consider actual coverage.

Also make darn sure that any safety or anti-theft feature on your car is noted on your policy. Policies are usually issued based on STANDARD equipment on that model. Almost ALL modern cars have a factory alarm system for instance, or you may have installed an after-market one. If you have an alarm light on your dash then you qualify for an alarm discount. That happened to me. My Camry 2007 has a factory alarm, but it wasn't indicated on my policy originally. Once they fixed it I got a discount and credit.

If you have side air bags, or an On-Star type system, that usually also qualifies for a discount. I think even backup collision avoidance sensors qualify. Ask your agent.

[DaMaN]

A backup camera also provide a discount as well if I am not mistaken. I have one on my 2007 CRV.

[GuardianAsher]

Penguin, those are some pretty good points, I'll have to get the alarm system thing looked at. And the CR-V has all the side and knee air bags and such, so that's a plus too.

As far as my driving record goes.. when I was 17 I had an accident in my mom's car. I was a stupid driver back then, but when you get T-boned in your mom's car, on the passenger side with a friend in the passenger seat, you calm down and wise up real quick. Thankfully no major injuries to either party, since the wreck happened at about 20MPH, but since then I drive like a little old lady.

No tickets on my record. I have only had two in my life; the accident, which I was counted at-fault for (even though I think it was crap), and driving without my headlights on. I pulled out of a bright parking lot of a restaurant and there was a cop on the other side of the intersection... bad timing and the cop was an . But I got that scrubbed off my record with a Defensive Driving course. Same for the accident actually... Either way, both off my record now.

And I agree with the insurance premiums. For the heck of it I tried to see what the CR-V would be on liability, and it was much, much cheaper than my Sunfire. I mean, sure, it's much safer for me than the Sunfire, but it's bigger, weighs nearly twice as much, has a bigger engine, and could probably roll over a mini car. And then we won't even get into the 68 Ford... it's a tank, but it's the cheapest of them all. Bleh.

I am not using an agent, but I shopped around a lot before I committed to anything. First time I did about 3 years ago, I shopped all the major insurance companies and Geico gave me the best rate of them all, so I went with them. About 6 months ago, I decided to shop around again and Progressive was the least expensive, so I've been with them since. Plus when I tried to call Geico on something on my policy, the people there seem a lot ruder to deal with. Now I did go to an agent a couple years ago, when I was with Geico, and he said to stay where I was with them. They were about the cheapest and with the best coverage I could get.

And no backup camera, sadly. Or even backup sensors. While my uncle's new 2013 Honda CR-V EX-L has nav and all the bells and whistles, this one's not as well equipped. But it's still by far the nicest thing I've ever owned.

[renovation]

be glad your not living in michigan -are rates all went up over some new fees because were a no-fault insurance state.

Michigan Catastrophic Claim Guidelines
•All medical claims are paid through your own auto insurance policy
•Car insurance carriers are responsible for the first $500,000 in medical expenses
•The MCCA pays anything above and beyond the $500,000 threshold
•Effective July 2012 the MCCA fee is $175 per vehicle per year
•MCCA fee applies to both automobiles and motorcycles

http://carinsurance.about.com/od/Policy ... on-Fee.htm
Michigan Pays the Most for Car Insurance--http://carinsurance.about.com/b/2012/08 ... urance.htm

Michigan rates are so high due to the state's unique car insurance laws. I've had several people come into the office who have recently moved to the state of Michigan from surrounding areas. They are surprised to see the high cost of living from car insurance to property taxes, it is difficult to afford. Some of these people pack up and move right back out of state after they realize what is in store for them financially.

[eGoCeNTRoNiX]

My Insurance for 4 cars, 07 Dodge Magnum, 01 Nissan X-Terra, 00 Hyundai Accent and a 00 Cadillac Deville DHS are $125 a month... But, the only vehicle I have with full coverage is the Magnum. I have been debating on dropping that to liability as the car is paid for, but the difference is minimal.. But I have had a clean record for almost 10 years now.. I'm 32..

[BillyGoat]

I know this is an old thread, but Ive got to bitch here too, alot has to do with geography, which I think is crap since my car in kept under tight security (i live at a boarding school, its gated and have many security guards)

My little brother 32 yrs old, one accident, a few tickets Has full coverage on a new yukon, and a 2005 silverado HD2500- Liability on a motorcycle and a side by side (street legal in idaho) he pays 133 a month

ME -37 years old no tickets or accidents (have received several speeding tickets, but have beat them or plead them down to not show on record)
2010 Camaro 101.00 a month
Oh and dont say its because its a sports car, my 2007 VW Rabbit was only 10 bucks less a month

I only hope I can hold onto my Camaro with my current financial situation, I bought the car when I was diagnosed, always wanted a 67-68 but the prices on the east coast are insane

Got the 32,000$ camaro because an older gentleman won it in a phillies charity auction and found out it was too much car for him, he traded it in for a nissan, from a dealership in the middle of nowhere PA
I picked it up for 22,000 at the time, it blue booked for 29,500, only had 3200 miles on it- clean carfax

The nicest thing about it is if some asshat is bullying you on the highway
it redlines at 47 in 1st, 78 in 2nd, 118 in third and 147 in 4th, theoretical numbers for 5th and 6th since its electronically speed limited to 163 mph
Its nice to be crusing at 65-70 in 6th and be able to drop to 2nd or 3rd and they are out of you eyesight in a matter of seconds

Sh!tty thing is that its a cop magnet since its red with white stripes (it was a phillies auction car for there novacare rehab for kids)

fastest Ive had it was 136, and it felt well connected to the road, And the great thing is the way the gauge pods are setup, the passenger cannot see the 2 speedos- I cruze at about 95 on the highway around here and My wife never knows!(65 feels like 35 in this car)

My father bought himself a new hemi challenger for his retirement, and I cruized it up in Montana last year at their version of hot August nights. The challenger is definatley a more refined car.

Both of our cars have short throw 6 speeds in them, the only thing I didnt like about the challenger is that it has a rev limiter, so you cant really redline it.

[ZYFER]

I've noticed insurance rates seem to randomly go up all the time. The insurance company ups your rate and you can hop to another one with the same or better coverage for less money. Then ultimately, that one goes up and you hop back to the insurance company you had before for less...

Another stupid part is credit, or lack of it. They punish you for it, because "supposedly" studies showed that people with poor credit are a higher risk. I personally don't see how someone with bad credit is somehow a bad drivers just because of it. Its just another reason to extort money from people.

[wvjohn]

Some companies are all about getting new business at a teaser rate and then raising it. I was with Geico for for about 30 years, they had some rate creep but I got decent service and they replaced glass free (when my boys were young that was significant ). When they started the 15% thing, they started jacking the rates. I ended up switching to Erie - which came out $1200 year cheaper. We pay about 1800/yr for full coverage on a 2008 and a 2013 Rav4s. When my daughter recently moved from WV to NJ (20 yrs old) Geico raised her from ~150 to about 300. We're working on getting that changed.

[BillyGoat]

When I first moved to the east coast I lived in NJ, I agree I think nj has some of the highest Insurance rates, it was worse there. They also have reduculous property tax there. For what some people in NJ pay in property taxes each year, you could buy a house in MT or northern Idaho.