Insurance......Again

[pdac]

That's odd that you pay so much. I live in Northern VA and when I had my 2014 GT/CS I was paying around 350 for 6 months of coverage and that was very good coverage with a low deductible.

I've been reading a few insurance related threads here today, and noticed that for my insurance.....

So, I decided to call around and see if I could get a lower rate. Every damn time I called a random insurance company, they were able to find exactly what my current policy is. They new what coverages I currently have without having to ask.

This sounds very fishy to me, like every insurance company knows what type of policy you have, and what you're paying. Since all 3 of the prices I got were within a few dollars of each other, and all three were just a bit below what I'm paying now, I think there some serious issue with information sharing going on. Something that truly screws the consumer; elephant schwantz in the sphincter, no reach-around.

Is this just Virginia? I don't remember this happening when I live in Michigan. I never remember an insurance company telling me what current coverages I had with my current company.

I swear to God, this area is a complete and utter shit hole. I can't stand living here.:frusty::frusty:

Thanks for letting me vent.

ETA; at the end of the 3rd call for a quote, I asked the woman I was speaking with (who was the actual licensed insurance agent, not one of her sales minions), and she told me my rate was so high because I was in some sort of "special insurance group" due to an accident back in 2015. I pressed her for details, and she said something about a "hit and run", which never happened.

What DID happen is a friggin' house-frau was paying all her attention to her crotch-fruit in the baby seat behind her, and ran her mini-van into the back of my 2012 BPP GT while I was sitting at a light, without ever touching the break pedal. She hit me. Her insurance paid for my damages, but this agent said that was the reason why my rate was so high.

Very pissed, am I.

I am old, have no points, no tickets, no at-fault accidents. Clean as a whistle for over 12 or 15 years.

One additional thing; the husband of the stupid ditz that hit me was a lawyer. I smell something fishy again.

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[Tom C]

I chuckle when I read insurance related posts on this forum and other Mustang and car related forums to which I belong.

We spend $30-$70K (give or take) on our Mustangs. Many of us drop hundreds more on mods, some thousands more, all without batting an eyelash. Yet we quibble over what is a relatively small amount by comparison for a product and service that protects your initial investment. And much more importantly you're protecting your home and assets should you become a viral Mustang video on YouTube.

Insurance companies are not without their flaws....I've seen it from the inside. But they're not the big bad money grabbing boogy-man either. As several folks have acknowledged, it's a business. And it's a roll of the dice no doubt....it's there when you need it. Hopefully you never will, but it's the price of admission for what we like and need to do.

 

[NoVaGT]

I chuckle when I read insurance related posts on this forum and other Mustang and car related forums to which I belong.

We spend $30-$70K (give or take) on our Mustangs. Many of us drop hundreds more on mods, some thousands more, all without batting an eyelash. Yet we quibble over what is a relatively small amount by comparison for a product and service that protects your initial investment. And much more importantly you're protecting your home and assets should you become a viral Mustang video on YouTube.

Insurance companies are not without their flaws....I've seen it from the inside. But they're not the big bad money grabbing boogy-man either. As several folks have acknowledged, it's a business. And it's a roll of the dice no doubt....it's there when you need it. Hopefully you never will, but it's the price of admission for what we like and need to do.

The fact is, 90% of Mustang owners leave the car stock.

And when you're paying $300-$600 a month in car payment, $200+ more a month in insurance is a serious bite. My monthly insurance payment has been 1/2 my car payment. That's ridiculous.

 

[buymycar]

Just renewed my insurance. Had to switch to Geico and saved about $300 for 6 months. Progressive tried to jack up my insurance by a $200 and my record is clean. Shop around. The other companies my insurance went through were about the same as Progressive. Always shop around. They make more money by you being lazy.

(insert Geico commercial here)

 

[hegel]

I feel spoiled now. I'm paying $85 a month for full coverage. maybe its because my home and other vehicles are insured on the same policy?

 

[Tom C]

The fact is, 90% of Mustang owners leave the car stock.

And when you're paying $300-$600 a month in car payment, $200+ more a month in insurance is a serious bite. My monthly insurance payment has been 1/2 my car payment. That's ridiculous.

Not trying to be disingenuous or sarcastic, but if that's typical for your area and/or your specific circumstances (age, record, loss history, etc) then that's your price of admission. Your options are to move, drive an older less expensive car, or drastically reduce all of your auto coverages to the absolute minimum allowed. None of those choices are desirable, especially switching to a bare bones policy.

Unfortunately you're a victim of your zip code.

 

[AJ ROJO]

Insurance is one of the most tightly regulated industries.

Insurance is the private sector's form of socialism. Everyone pays in but only those who need take out. Sure you take a cut to pay employees and investors because without employees and investors it wouldn't exist. And regular Joe would be forced to walk after someone crashes into him.

Sure we could all pay the same premium. No factors to decide, just every pays the same. But there would be no incentive to have good driving history. Just crash and get a new ride. They have to screw people who screw up to protect the fund and to protect the overall premiums.

I don't care about how "tightly regulated" they are, I know I've made plenty of money at one point or another investing in Berkshire Hathaway (Geico) and allstate so how ever tight they are regulated its helped line the pockets of my own nestegg. Drive good and get better premiums as an incentive? Ok but somone who has that but a bad credit score still gets screwed even though they have always paid thier insurance but had a rough divorce so now they get screwed (yup i know a guy this is happening to right now)

I think you missed my points. #1 it's the law, #2 No matter what these companies exist to make money and no matter what commercials say, they really don't care about you and I. #3 personally I get it in as far as the economic reasons we all pay what we do for insurance; however, the great thing about living in the good old US OF A is that we can express our dislike of the system.


[/QUOTE]Yup would be nice if voluntary. Number of crashes would not decrease. It would just shift the cost to responsible individuals. They would pay three times more. "They" being middle class. Poor, rich, young and crazy wouldn't pay.[/QUOTE]

It is law and still people don't carry insurance. They find ways around it. For this very reason my insurance raised over $500.00 a year for 2 vehicles when moving from eastern Washington state to the craphole world of the very south eastern part of Florida. So yeah people pay more because some areas people don't pay their socialistic share. The law abiding (responsible) pays for the criminal (oh and because I know how many people down here are driving without it I pay even more so I can have even more coverage because the person who hits me most likely won't have anything. Its a fact of life but it does not mean any of us have to like it.

 

[klumpikat]

My car + his old F150 + our renters insurance from Geico = 106/mo in southern CA (La Jolla).
17% less than our previous policy with State Farm.

 

[SnoopisTDI]

Yup would be nice if voluntary. Number of crashes would not decrease. It would just shift the cost to responsible individuals. They would pay three times more. "They" being middle class. Poor, rich, young and crazy wouldn't pay.

I would be in favor of having insurance savings accounts. You could have IRA style fund. but instead of only withdrawing after 65. You can only withdraw after accident or natural disaster. You would then pay gap insurance. So if the minimum insurance required by State is 50,000 for damage and 100,000 for injury. You would put money into your savings account. It would collect interest or ROI depending on the investment. So if you have 10k saved, you would only be required to obtain 140k of insurance. Over a decade you could save enough in your account, 150k, to stop paying in (you could pay 150k the first day and never pay gap insurance or you could spend 50yrs and never make 150k; it all depends on the individual). At that point you wouldn't need to pay in or pay a premium. After you're too old to drive. You would turn your driver's license into DMV. Then transfer the saved money into a regular account.

In many states you aren't actually required to have insurance. You can get a "statement of financial responsibility" or something like that, proving that you have enough cash to cover the minimum requirements. Or something like that. But personally, I'd rather risk somebody else's money.

 

[SnoopisTDI]

I chuckle when I read insurance related posts on this forum and other Mustang and car related forums to which I belong.

We spend $30-$70K (give or take) on our Mustangs. Many of us drop hundreds more on mods, some thousands more, all without batting an eyelash. Yet we quibble over what is a relatively small amount by comparison for a product and service that protects your initial investment. And much more importantly you're protecting your home and assets should you become a viral Mustang video on YouTube.

For the Mustang and a 2004 Lexus with 140k miles on it, me being almost 40 years old with no tickets and no claims, they wanted me to pay over $3k for the next six months. What's "relatively small" is my new premium with my new insurance company - about $1300.

 

[Shouldhavegotthegt]

My car + his old F150 + our renters insurance from Geico = 106/mo in southern CA (La Jolla).
17% less than our previous policy with State Farm.

The problem with SoCal is sure you'll pay $100/m for insurance but it's $2000/month for rent.

 

[Ebm]

.

For the Mustang and a 2004 Lexus with 140k miles on it, me being almost 40 years old with no tickets and no claims, they wanted me to pay over $3k for the next six months. What's "relatively small" is my new premium with my new insurance company - about $1300.

But everything is bigger in Texas right? Including expenses?

Sorry! I couldn't resist! Lol

 

[klumpikat]

The problem with SoCal is sure you'll pay $100/m for insurance but it's $2000/month for rent.

But the weather is excellent for cruising year round

 

[blitzburgh]

The problem with SoCal is sure you'll pay $100/m for insurance but it's $2000/month for rent.

Yep...My car, plus renters insurance 89.00 a month USAA.
Rent 2600.00 :eyebulge:
SOCAL is $$$$$

 

[Shouldhavegotthegt]

But the weather is excellent for cruising year round

So is AZ. I'm paying for $160 a month for my 2016 GT and 2014 Ram but my mortgage is $720 month for my house

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