What are you paying for your Insurance Rates?

[wooohooo]

It should be pretty self explanatory, I'm paying around $1400 and seeing as I just hit 25 yrs old, no accident, I'm hoping to see that go down.

What are you guys paying? And what should I be aiming for?

[llwhiteoutll]

For how many cars, what kind, what year, what coverage?

[iLoveLamp]

$4300

[T@T]

At 25 you should see a reduction.

New SUV

I pay $103/month for 2m liability, 250 deductable, full replacement(they pay what I paid...good for 2 years) and free rental car if needed.

I could get insurance cheaper but after seeing the nightmare that 2 friends went threw I cover all bases for a few extra bucks.

You get what you pay for.

[Dion]

I pay $835 a year for full coverage ($500 deductables - no glass) on a 2006 Ford Escape.... She has less than a 125,000 clicks on the odometer. Insurance is through Dominion of Canada.

[meanmachine13]

I pay approx $2400 a year.

2011 Hyundai Elantra, full coverage, 2M liability, and I think $250 deductible for everything and SEF44 coverage.

Desjardins Insurance

[T@T]

Originally Posted by meanmachine13

I pay approx $2400 a year.

2011 Hyundai Elantra, full coverage, 2M liability, and I think $250 deductible for everything and SEF44 coverage.

Desjardins Insurance

Bad driving record?

[llwhiteoutll]

I'm at $2,562 per year. One at fault claim two years ago and a speeding ticket two years ago.

This covers a 2008 Sierra Quad Cab with mild mods for full coverage and $500 deductible. It also covers a 1998 Jeep Grand Cherokee that is extensively modded for liability and comprehensive.

The cost for each by itself is pretty much a 50/50 split of the premium.

[MoneyGuy]

$725 for a 2009 Toyota RAV and an older Honda Civic

[wooohooo]

Does anyone know if insurance is cheaper for a car vs SUV vs truck?

I'm looking at getting a SUV or a truck, around early 2000.

[BlackArcher101]

Should include your grid levels for a proper comparison.

[T@T]

Originally Posted by wooohooo

Does anyone know if insurance is cheaper for a car vs SUV vs truck?

I'm looking at getting a SUV or a truck, around early 2000.

Anything 4x4 cost more and it's the biggest bag of ever!

Equivalent priced car vers SUV is cheaper to insure which makes zero sense, a broker told me once it's a nice "cash cow" from the past when people use to beat the crap out of their 4x4 pickups.

[Huntingwhale]

-11 on the grid and I finally got mine down to about $1100/year last month

[meanmachine13]

Originally Posted by T@T

Bad driving record?

Possibly hah. Depends what is considered bad these days.

I have 1 at-fault fender bender and 1 speeding ticket.

Another factor may have been that I got my drivers license less then a month before I bought my new car. So I had no driving record.

[REDVAN]

We pay about 1800/yr for an 04 Grand Am and an 06 Corolla. Two drivers, both -13 on the grid. I think it's pretty full coverage- 1M I'd bet, 500 deductible, no glass.

Could probably reduce it since the cars are crappy/old now.

[Muffins]

If you just turned 25, make sure you call your insurance company and remind them.

I didn't see any reduction for a couple months after I turned. I called them up and they said "oh yea, I guess it should go down".

In other words, don't trust them to do it automatically.

[Huntingwhale]

Originally Posted by Muffins

If you just turned 25, make sure you call your insurance company and remind them.

I didn't see any reduction for a couple months after I turned. I called them up and they said "oh yea, I guess it should go down".

In other words, don't trust them to do it automatically.

Exactly, they always need a friendly reminder. In fact, even when your renewal comes up every year you should remind them. I've never ever had my insurance go down the following year (even claims/ticket free) unless I call to ''remind'' them.

[mrkajz44]

Not sure if this is relvant in this situation, but something many people overlook is the cost of collision compared to the value of their vehicle (just thought I'd bring it up since you said early 2000s for your new vehcile).

I'd always compare just third party liability to adding collision/comprehensive to the policy. In my case, third party was about $500/year, while all in with collision and comprehesive it was about $1800/year. At $1300/year difference, I considered the overall value of my car (about 10K when I bought and now is probably around 7K or so now) and decided to go with just third party.

That was three years ago, so I've saved around $4K or so with the cheaper insurance. Now, even if I have a collision/comprehensive claim, I still might be ahead.

Just something to think about, sort of a self-insurance plan that likely pays off in the long run if you are a good driver.

[GoinAllTheWay]

Originally Posted by T@T

Anything 4x4 cost more and it's the biggest bag of ever!

Equivalent priced car vers SUV is cheaper to insure which makes zero sense, a broker told me once it's a nice "cash cow" from the past when people use to beat the crap out of their 4x4 pickups.

Price of the vehicle doesn't have much to do with it. Not sure what your broker meant by "cash cow" as 4x4's are more expensive to repair and parts are more, hence the higher cost to insure.

Beating the crap out of your 4x4 wouldn't be covered anyways as that would be wear and tear.

[GoinAllTheWay]

Originally Posted by Muffins

If you just turned 25, make sure you call your insurance company and remind them.

I didn't see any reduction for a couple months after I turned. I called them up and they said "oh yea, I guess it should go down".

In other words, don't trust them to do it automatically.

That would depend on your birthday and your renewal date. If you turned 25 before your renewal, you certainly don't have to remind them. If your birthday (with some insurers) is within 6 months they should do it automatically.

If you are with an insurer that doesn't do it automatically it's because they techically don't have to. You can call them to ask if they will, some do some dont.

This works both ways as well. When your auto policy is up for renewal and you have a pretty good record, most insuers won't check your licence every year to see if you have recieved any new tickets they can charge for. If you got a ticket mid term, are you going to call up your insurer to advise them of this? Of course not. Also, if you get into an accident midterm, they wont start charging your for it (if they can) until the next term.

Does anyone here want their insurers to start charging for tickets or claims right after they happen? Betting no.