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Wow insurance costs

Discussion in '4th Gen. Tacomas (2024+)' started by Weldit2010, Oct 1, 2024.

  1. Oct 1, 2024 at 5:04 AM
    #1
    Weldit2010

    Weldit2010 [OP] Member

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    I have been casually looking at 2024 offroad / sport model typically in 45k - 49k price range. I currently have 2017 Offroad, before buying I ran a vin past my insurance person to see what the increase would be. I understand the prices are way more but the safety features in the new one should help somewhat. My insurance would almost double for the 4th generation.

    Definitely a eye opener....
     
    2016Tacoman likes this.
  2. Oct 1, 2024 at 5:06 AM
    #2
    gmtech

    gmtech Well-Known Member

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    quad cities illinois
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    2016 trd or. 2024 trd OR iforcemaxx!!
    Stock AF
    where do you live? location means a lot.
     
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  3. Oct 1, 2024 at 5:08 AM
    #3
    Weldit2010

    Weldit2010 [OP] Member

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    Iowa pretty much the middle of the corn fields...
     
    Stevie17 likes this.
  4. Oct 1, 2024 at 5:10 AM
    #4
    Hook78

    Hook78 Well-Known Member

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    Not to be Captain Obvious but the vehicle value you would be insuring for will go up substantially. Might be responsible for much of the quoted increase just by itself.
     
  5. Oct 1, 2024 at 5:11 AM
    #5
    Weldit2010

    Weldit2010 [OP] Member

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    Yeah I knew that going in, I expected a increase just surprised at how much.
     
  6. Oct 1, 2024 at 5:15 AM
    #6
    PUMPKINKING

    PUMPKINKING Member

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    A brand new vehicle vs a 7 year old vehicle. Double is a lot though.

    My insurance went up about $800 CAD but I was driving a 3 year old Subaru.
     
  7. Oct 1, 2024 at 5:22 AM
    #7
    Rock Lobster

    Rock Lobster Thread Derailer

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    When I changed to my 2018 from my 2016 my insurance tried to double the premium. I asked why.

    "Safety sensors in the bumper are expensive to replace." I asked to cancel my current policy instead, and bought elsewhere.


    Changing to a 24 from a 17, slightly different story. I agree with above, its going to be replacement value and parts availability.
     
  8. Oct 1, 2024 at 6:16 AM
    #8
    gmtech

    gmtech Well-Known Member

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    i also live in iowa... my insurance did not double.. im through westbend insurance now. 3 vehicles and house on same policy.
     
  9. Oct 1, 2024 at 6:23 AM
    #9
    Superdave1.0

    Superdave1.0 Grandma Dave

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    Also insurance rates are just going up accross the board. I just got my renewal. Zero accidents, zero changes, additional $50 a month now for the same coverage. Not a happy camper.
     
    BigEasy, MalinoisDad and TurboDA6 like this.
  10. Oct 1, 2024 at 6:28 AM
    #10
    CrispyTacoLover

    CrispyTacoLover Well-Known Member

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    I can’t wait to see the next earnings report from Farmers, Allstate, State Farm, Geico, Progressive, etc. That and their executive bonuses.
     
  11. Oct 1, 2024 at 6:31 AM
    #11
    Hogleg918

    Hogleg918 Well-Known Member

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    I think there are more factors than this, my insurance is less on my truck by $200 (every 6 mo) than my Mini JCW which is $37,500 in difference value.
     
  12. Oct 1, 2024 at 6:49 AM
    #12
    IPNPULZ

    IPNPULZ Well-Known Member

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    Deeper in the South…….
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    going to be fun!
    Hate to say this my agent told me yesterday next yrs increases are going to be $300/$500 more.
     
    TurboDA6 likes this.
  13. Oct 1, 2024 at 6:50 AM
    #13
    Hook78

    Hook78 Well-Known Member

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    It should go without saying that there are an enormous number of factors in insurance premiums (and I’m no expert). All I said was I think the value difference is probably the main component in the delta, but it’s just one of many.

    Also it’s tough to compare a situation with two vehicles that are not like and similar, one of which is not a taco, on a policy simultaneously, with replacing one older taco with a brand new one. I don’t know whether the discounts for multi-vehicle are applied to the individual vehicles evenly, and all those other factors may come into play unevenly with two totally different types of vehicles.

    For what it’s worth, looking at my policy for my taco and my wife’s substantially newer SUV, the SUV slice of the premium is about 25% more than mine. Same coverages for each. It’d be interesting to know the difference if each was on an individual policy.
     
  14. Oct 1, 2024 at 6:51 AM
    #14
    3JOH22A

    3JOH22A Toyota Gigolo

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    - Newer Tacomas may be on the high-risk list for theft in your region. That could add a surcharge of a few hundred dollars to the insurance bill.

    - The safety features you mentioned add to the repair cost. For example, windshield replacement will be north of $1200 due to the pre-collision camera calibration.

    - One in five accident claims are now getting totaled due to cost of parts and repair complexity, so that leads to general premium increases across the board for new vehicles: https://www.bloomberg.com/opinion/a...-totaled-as-repair-costs-used-car-prices-bite
     
    Last edited: Oct 1, 2024
  15. Oct 1, 2024 at 6:54 AM
    #15
    TOYOTA_4WD

    TOYOTA_4WD Well-Known Member

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    I jump car insurance annually to keep the cost way down. I do the same with internet and cable. This breaks their business models.
     
    BigEasy, PDKTaco, Jacob06 and 2 others like this.
  16. Oct 1, 2024 at 7:05 AM
    #16
    Delta09

    Delta09 I Eat Glue

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    Well this is odd, when I went from my '22 TRD OR to my '24 SR5 it actually went down a couple dollars per year o_O
     
    PDKTaco and Stevie17 like this.
  17. Oct 1, 2024 at 7:07 AM
    #17
    TOYOTA_4WD

    TOYOTA_4WD Well-Known Member

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    there are so many variables that go into this you are probably comparing apples to boat anchors
     
    Motor Away likes this.
  18. Oct 1, 2024 at 7:13 AM
    #18
    Tatts521

    Tatts521 Well-Known Member

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    My 25 year old honda is more expensive than my 2012 tacoma. Riddle me that. Of course jersey doesn't have the cheapest insurance to begin with. But I have 2 motorcycle under my insurance also and those 2 together is 400 a year.
     
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  19. Oct 1, 2024 at 7:17 AM
    #19
    IPNPULZ

    IPNPULZ Well-Known Member

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    Deeper in the South…….
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    going to be fun!
    Charlotte is the hit and run capital of the USA
     
  20. Oct 1, 2024 at 8:14 AM
    #20
    TurboDA6

    TurboDA6 Well-Known Member

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    Long shot here, but does your 2017 have LED headlights? One of the biggest drivers of insurance increases (not taking into account all the other reasons) has been the proliferation of expensive parts at the leading edges of vehicles. Recently it's pretty common for someone to upgrade from a vehicle with $500 headlights and no sensors, to vehicles with $1500 headlights and multiple sensors that not only are expensive (the Honda grill badge with built-in radar is a great example, you'll pay $700 for a freaking "H" badge) but frequently require recalibration post-repair.

    We have a 2020 Corolla hatchback, and the insurance for that seems high. Of course, our previous car was a 2008 Impreza, but still, the Corolla costs more to insure than my 2021 Titan Pro-4x. Which also has all the expensive sensors and LEDs on it.
    My insurance agent explained that is because the truck i have doesn't have a bad reputation for being wrecked by owners, usually is cheaper to fix in minor accidents, and the occupants are far less likely to die in a newer full size than the Corolla.
    My current truck still costs 50% more to insure on the day I switched to the newer truck. And, insurance has gone up a bunch in those few short years since.

    Additionally, the few accidents I have had over the decades have been by intoxicated, uninsured drivers. There's a significant number of uninsured morons driving around, not sharing the financial responsibility.
     

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