Are the insurance companies crazy?

Just get older, it gets cheaper.

I'm 37 and pay about $70 p/month but that's because I prefer to have a $250 deductible.

 

This post just got me wondering about my policy.

My 2013 was $757 / year. My 2016 was $998 / year. I wonder if they'll go down as they become older and more are made. I also have an addendum of new car replacement on mine. Unfortunately, I needed to use the addendum on my wife's CX-5 already. It's so key when you total a car in year one.

What's wild is that her brand new Jeep is $220 cheaper than my Tacoma and my '99 Corvette is $200 cheaper / year.

 

I dont know exactly how much mine is because its mixed in with three other vehicles. but I know its under 600 per year for comprehensive coverage with a 500 deductible.

 

it all depends on how you work the policy.. for example.. i have a 99 toyota previa SC, 2015 lexus gx470, 2010 acura tl, 2012 accord coupe and a brand new 2017 trd sport DCLB 4x4 all with AAA. This is also discounted with a home insurance policy, good driver discount and multi car discount.. i pay about 2700 for all cars.
100/300 coverage with 1k deductible.

Now keep in mind that with AAA, as long as you live in the same household any family immediate family (i.e. parents/siblings/spouse) that lives with you can drive your car regardless if they are on the policy and still be covered 100%. After the 1st accident you are required to be placed on the policy. Thankfully that hasnt happened yet for the last 10 years. I placed myself on the cheapest car possible which is the previa to show them that it is my daily and i typically drive that car the most, this way i dont have to pay high dollar prices to get covered on the more expensive/newer vehicles in the policy.

Its all how you work the policy and the insurance company. I put only 1000 miles on the previa this year but 7k on the acura and 10k on the lexus. They didnt say a single word when i went in to get insurance for the tacoma last week.

 

Also keep in mind, different vehicles are put into different classes of insurance coverage. dont expect a 2016 35k camry to be the same price as a 2016 35k tacoma for insurance.

 

I pay to insure a 2013 xterra, a 2017 tacoma, a 1996 mercedes sl500, and a 1968 ford mustang. less than 200 per month total. State Farm

 

If the rest of the people in this thread knew more about insurance and how premiums are calculated they would love to track you down and kick your ass for pushing up all of their rates.

Not that it matters to me personally since I'm not with AAA, but what you're doing there is committing insurance fraud. You signed an application saying that you were disclosing all people in your home knowing full and well that's not true. In the short term you'll save premium because AAA isn't collecting the amount of premium that their Actuarial department thinks is necessary to cover the risk. How could they? They think you're a single guy with a lot of cars. Their exposure is greater than that and all the other AAA insureds are paying more because of it.

I cancel policies every day for material misrepresentation on the application after our Claims department pays a claim for a driver that was living in the home the whole time but wasn't disclosed. The Claims department also voids policies and declines payment of a claim all the time when they find out they've been lied to.

Bottom line, you're not doing yourself any good by saving a few bucks now by being dishonest. What you're paying for is coverage and stunts like that may end up leaving you with no coverage when you really need it.

 

Time to shop around bud! I had Allstate in NC and I was paying $90/m for really good full coverage on the taco. Got stationed in TX, same coverage, same Allstate wanted $283/m for the same truck. I found State farm was the cheapest at $119/m for same coverage, slightly higher deductible. Shop around bud!

 

Hey, if AAA says that all people living under the same house will be covered.. who am i to complain? i am just going by what the agent tells me. i checked and verified. i am not commiting fraud if policy allows me to do it.

 

I'm at $100 a month $0.00 deductible. Allstate.

 

Keep telling yourself that. I've been an insurance underwriter for 14 years. I've seen it too many times to count.

Your agent told you what you needed to hear to make the sale. He works on commission and he knew that he wouldn't have made the sale if he rated the policy correctly.

If you have a claim tomorrow he'll deny knowing about it to keep his job or rely on his Errors And Omissions policy to cover his ass. Either way, you'll be out of luck.

 

Short answer yes they are crazy and they suck

 

Next you'll tell us you test drove it, too.

 

Indeed, fraud works both ways with insurance companies.

 

My Taco has been the most expensive insurance of any car I have ever owned. Including my Corvette or my 50th Anniversary Mustang.
And I am an old guy with no ticket or accidents. I have never understood this and have whinned about it many times to my Insurance Man.

 

Damn, I'm at about $900/yr, 37 yo.

 

There's always a reason someone will be paying 300 a month or more for car insurance. I'm in the 25-35 bracket with a clean record and good credit around 25k a year in miles. That being said my payment is $158 a month for a 2017 OR DCSB, late 90's civic and a 90 wrangler. It worked out to be the same price to have full coverage on everything.

 

Time to shop for new auto insurance, they say you should do this every 5 years anyways.

 

Shop around. I only pay $327 every 6 months. That comes to $54.50 a month.

I carry $100k/$300k limits with medical and uninsured motorist as well. I have $500 deductibles for both comp and collision with new vehicle replacement that pays me for a new vehicle instead of a used one if I am involved in an accident that does 25% damage to the vehicle during the first two years.

I'm 38 years old, married, good credit, and insure my autos with the same company that I insure my home and rental property. I do carry my coverages with the same company that I work for as an insurance underwriter but we don't give discounts for employees so I pay the same rate that any other person with the same vehicle and personal stats would pay.

 

Sorry to disagree, but there is NO WAY a board of directors sits around and says "lets do a little better than break even". Stockholders alone would never agree. If their profit margin is that thin they'd have no money to invest with.