Auto Insurance and our trucks.

[flareside_thun]

im 24 with 2 speeding tickets and a seat belt ticket and i pay $48 a month for pip and liability on my f-350 in the sig

That's AFTER you had to carry an SR-22.

Glad I've been in the habit of checking rates everytime It's about time for me to renew. I'm up for renewal in 2 weeks so I did alot of checking.....my current company, Direct General, sent me a notice of such and told me my new premium would be 102 a month.....I got an online quote and was quoted at 44 dollars a month for the SAME EXACT COVERAGE I HAVE NOW!!! What a bunch of crap, I printed everything out and I plan on having it with me when I go to renew, this is BS.

 

[Cincinnati Guy]

Im 24 no tickets, no wrecks on my record (Knock on Wood) and I use The General which they go through PGAC and on my 94 I am paying $49.50 for liability only for myself and the girlfriend.

 

[RLDSL]

You guys that are going for the budget TV insurance companies , if you are carrying full coverage, I hope you never have anything happen to your vehicle, because anything past a bent bumper and they will total the thing. THese jerk *** outfits don't even go by blue book , they use their own estimating service that combines all classified ads for your vehicle, which includes total rust buckets , basket cases and ones with no engines to come up with a value for your showroom perfect IDI.
I found this out the hard with with AIG/21st century/farmers when my wife nailed a deer with her car. Damage was minimal , estimate was under 1800 for a 5000 car and they wanted to total it trying to tell me it was only worth $1100. I went to the state insurance commisioner to find out that what they were doing was illegal in this state, and even totalling to blue book was illegal here. They have to either fix it or find a car in this market just like it and buy it for me ( I finally haggled with them until they upped the dollar amount enough to where I kept the car and they could total it on paper, but that way I fixed it myself and I did it with all new parts instead of used parts like the body shop was going to do, so I really came out ahead in the end but the whole thing was an education considering I'd been paying those clowns for 15 years for 3 vehicles on 2 drivers, plus house with never a single claim expecting to have my car fixed if something ever happened only to be done like that, and having to fix the blamed thing myself in the end
I no longer do business with them.

I currently pay about 1033.00 every 6 months for full coverage on 2 volvos, 1 f350 , 1 32 ft enclosed car hauler ( new replacement coverage as well on the car hauler and a 28 ft 5t wheel. That works out to about $172 a month for the 2 of us for all that junk through Good Sam

 

[Compu Doc]

I have zero accidents and zero points on my license. I also have had zero tickets in the past 10 plus years. I could have had insurance for $600 a year with a company called Cure Auto Insurance who only basis their rates on the persons driving record and nothing more, but being my registered weight of the truck is 11,000 GVW and not 10,000 GVW they could not write the policy. Instead I pay $1032.00 and some companies want even more. With Drive insurance which is an affiliate of Geico they will not even give me insurance because they do not write policies for the body type of my truck they actually canceled a policy I had with them because of that. Luckily I was under the 30 day grace period of my old insurance company so I renewed the policy with them.

It seems that every year though they increase the rate even though I have had zero claims with them. This last time I called them and asked them why the rate increase every year. Then I tell the girl on the phone "You raise my rates because your company is not making as much as a profit that they did last year because some schmucks got into an accident, filed a claim and I have to pay for it because your profits were not as high". She then said your correct which I feel is not right.

What I would really like to know and can be answered here since their is an insurance agent in the house is why the hell does an insurance company base their rates on a persons credit report. The answer insurance companies give is because a person with a bad credit report is more likely to file a claim or have an accident which is total BS. Also if a person is not college educated they pay a higher rate. What's up with that BS. Also if your single you pay more which again is BS. Are you a male?, pay more if you are again BS.

As for my credit report I don't have any credit. If I can't pay for it in cash I don't buy it which I am sure does not help my credit report.

The insurance companies are out to rip you off in anyway they can. Auto
insurance companies should not be able to base their rates on anything except your driving record and years of experience driving. Plain and simple.

 

[burtcheca]

Why do you need full coverage in a more than 20 years old vehicle?

I pay the minimum coverage required by law here in Florida for both my two trucks. $148 every six month for me and my wife with GEICO. I don't need more than what the law requires, I don't want to spend money with insurance, that's not a good investment. They are not in business to make you safe or to save you money. I personally detest the government forcing me to enter into a contract with an insurance company if I want to drive a vehicle. I have to do it because it's the law. I don't think it's my best option to pay an insurance more money to have then pay the bill to fix my truck if I wreck it. Since long time ago, even with our medical insurance, we drop the system everybody is using. We trust the Lord our God first and every month the money should go to the insurance companies is saved. After years saving and putting those monthly payments in different allocations: medical, trucks, farm maintenance, etc. we found always that every time we need to go to the doctor, dentist, mechanic, supplier, etc. we get a better deal as soon we say we are paying cash and you'll be amazed how much money you save a year when you compare how much money went down the drain in bills to insurance companies. We don't have to pay to any insurance for our house either because we own the land and build every thing we have on it with our own hands, little by little. If a tornado or fire should destroy our property, with the money saved we can built again for a lot less than a whole year of payments sent to any insurance company.

This system may seem wrong or weird to many but it works for us. We rather depend on the Lord than any man (or government). And for the record, we don't want to receive any of the benefits "we are entitled to" either. We don't receive any help from any plan or program and we are not counting with our social security benefits either; they are not going to last much anyway.

Burt.

 

[Compu Doc]

Why do you need full coverage in a more than 20 years old vehicle?



Burt.

That is liability only although higher than the minimum standards. Priced at the minimum coverage it would be a whole $20.00 less.

 

[HammerDown]

Why do you need full coverage in a more than 20 years old vehicle?
.

I agree, yet I've had 'full' coverage since I bought my truck and Vette since day one (new)...actually comp/collision is only $20.00 more per year.

 

[Optikalillushun]

i pay roughly $375/6 months for both of my trucks with state farm. My 93 has full coverage (100 dedeuctible, its my baby) and liability on my 88. That is after all the discounts, rate drops etc...i dont know about the insurance agent here on the board but i seen my rates drop significantly after completing each. Ill stick with state farm cuz my agent is good and helps me out.

now my 66 Comet is insured through hagerty for...$28 a year with a replacement value of $5000.

 

[Worstenemy453]

Some people run full coverage because of stuff they've done or added.

I had an 89 F150 standard cab Short bed with 179,000 on it. I had full coverage on it. Not because the truck was worth a lot but because i have about $8K in stereo equipment in it because it was my competition truck. Full coverage with some companies will cover things like that as well. I dont need full on the old girl though.

 

[Diesel_brad]

I insure
04 ranger(full coverage)
96 F350 crew cab(full coverage valued at 15k + 5k in extras)
94 Lightning(full coverage valued at 8k + 5k in extras)
86 F250(Liability)
i am 32 have not had any tickets in 3 years and have same insurer for homeowners too. I have Liberty Mutual.

I pay 2k a year

 

[crazy4wdracer]

What I would really like to know and can be answered here since their is an insurance agent in the house is why the hell does an insurance company base their rates on a persons credit report. The answer insurance companies give is because a person with a bad credit report is more likely to file a claim or have an accident which is total BS. Also if a person is not college educated they pay a higher rate. What's up with that BS. Also if your single you pay more which again is BS. Are you a male?, pay more if you are again BS.

As for my credit report I don't have any credit. If I can't pay for it in cash I don't buy it which I am sure does not help my credit report.

Agreed!

 

[WrickM]

Agreed!

The short answer is while those things may not apply to you statistically they aren't "BS". I don't make the rule but i have seen actuarial reports and people with better credit when all other things are equal are less likely to file a claim. Some of that is because they have reserves and are willing to pay for small damage rather than manke a claim. some of it is a simple difference in way of life. Again i know that might not apply to you, but it all about large numbers. Same with the other charecteristics you mentioned. Statistics show those are charecteristics of higher risk consumers.

 

[Compu Doc]

The short answer is while those things may not apply to you statistically they aren't "BS". I don't make the rule but i have seen actuarial reports and people with better credit when all other things are equal are less likely to file a claim. Some of that is because they have reserves and are willing to pay for small damage rather than manke a claim. some of it is a simple difference in way of life. Again i know that might not apply to you, but it all about large numbers. Same with the other charecteristics you mentioned. Statistics show those are charecteristics of higher risk consumers.

The only reason they use those factors is because they can. If their were laws made against using credit reports etc then all insurance companies would be like the Cure insurance company where they only go by your driving record, type and year of vehicle and driving experience and nothing more. Statistically I am sure if I wanted to I could create a report stating that college educated drivers are no worse than high school educated drivers.

It's all just to charge higher premiums and nothing more. As I said every year my rate goes up yet I have had zero claims since I have had this company and have had them for ten years. I haven't had any claims on auto insurance in 20 plus years. If anything it should be going down because of my record however the insurance company is losing money on another insured so they charge their good drivers higher rates to make up the difference in their claims they paid on.

CURE's premium covers a full 12 months of protection. Most other insurers quote prices for policies lasting just six months, so rates can be increased and penalty charges quickly added.

CURE cares more about how you drive, so we refuse to adopt discriminatory rating factors that most other insurers use. These factors can increase your rates as much as 50% and have nothing to do with your driving record - these rating factors include:

* Credit Score – the lower your credit score, the more other insurance providers will charge. CURE does not use your credit score as a factor in determining rates.
* Education – many of the leading insurance companies determine your rate based on your education level. If you do not have a 4-year college degree, your rates will increase. CURE does not use education as a factor in determining rates.
* Occupation – many national companies determine your rates based on your job. And some companies – such as GEICO – provide their least favorable rates to those they categorize as "blue and grey collar workers." CURE does not use occupation as a factor in determining rates.
* Home Ownership – many insurance providers determine your rates on whether or not you own a home and will charge higher rates to those who do not. CURE does not use home ownership as a factor in determining rates.

http://www.cure.com/about.shtml

 

[OLDBULL8]

I won't put what I found out about Progressive Insurance here.. Too controversial. If you want to read it goto the Lounge Forum. Soon as my anniversary date is up I'm looking for another company.

 

[FordGuy100]

I won't put what I found out about Progressive Insurance here.. Too controversial. If you want to read it goto the Lounge Forum. Soon as my anniversary date is up I'm looking for another company.

Its not controversial, the owner is just a flamming liberal. Heck look at the name.

The question is, would you support said owner, as the rates he provides arent half bad. I wouldnt, but I would use their price as a baseline.