Insurance Just Skyrocketed!!!

[sevenmgte]

Originally Posted by RRnold

I think it's time to switch insurance companies!

Must be nice to have that option. In BC you have no choice but to go with ICBC, it's a crown corporation and basic insurance must be purchased through them.

Thank you OP for this thread. This is an issue I had never considered, but now I will have to look into it for sure.

[EvoXDD]

i have 3 cars

2011 nissan juke 250$ deductibles
2010 mitsu evo 0$ deductible
2013 BRZ limited 0$ deductible

i pay approx $680 every 6 months so about 120 a month for all three cars

[RRnold]

Originally Posted by sevenmgte

Must be nice to have that option. In BC you have no choice but to go with ICBC, it's a crown corporation and basic insurance must be purchased through them.

Thank you OP for this thread. This is an issue I had never considered, but now I will have to look into it for sure.

Wow, that really sucks! Here in the US, there are a lot of insurance companies to chose from and most of the times you can have the insurance battle it out with the lower rate.

[Dimman]

Originally Posted by RRnold

Wow, that really sucks! Here in the US, there are a lot of insurance companies to chose from and most of the times you can have the insurance battle it out with the lower rate.

It actually doesn't. Ontario has private 'competition', but pay way more than us.

40% difference for the twins is BS.

[RRnold]

Originally Posted by Dimman

It actually doesn't. Ontario has private 'competition', but pay way more than us.

40% difference for the twins is BS.

Yeah, a 40% increase on the sister car is ridiculous. Given that we are paying them for their service, we (those of us in the US) appreciate the ability to pick and choose which company has the lowest rate and the best coverages.

Speaking of ironic, my insurance is Wawanesa, who only insures Quebec, Oregon and California. All of the other local insurance companies could never come close to the rates that Wawanesa offers.

Damn you Canadians!

[DeeezNuuuts83]

Originally Posted by Foobar

Yep, I had to switch frim safeco to liberty mutual when I added my son to the policy. Safeco wanted more in 6 months than what Liberty Mutual wanted for a year.

Stupid thing is Liberty Mutual owns Safeco.

But just because they are part of the same insurance group doesn't necessarily mean that every company under the same ownership has to have identical rates. You'd be surprised at how many insurance companies are affiliated with others.

As you know, Safeco is part of Liberty Mutual.
Allstate recently bought Esurance.
Farmers owns Foremost (which within the past year absorbed Bristol West).
Progressive Direct, Progressive Drive and Progressive Select are all Progressive but have unique rates compared to each other, even for the same person in the same state.

[Sony]

Originally Posted by brzmass12

I live in Massachusetts as well and I pay $60 per month for full coverage with MetLife. I guess it really depends on which city in Massachusetts you live in.

Definitely...Somerville is freakin expensive, if I was living with my parents in Edgartown I would only be paying $106.

[Synack]

Mine went up $50 a month going from a 2011 Camaro SS. Something went wrong.

Sent from my Galaxy Nexus on Jelly Bean

[Exhaust]

Yeah hell no man try getting another quote from other companies because "6 brackets"? That doesnt even sound right, the cars are the exact same.

[Tbxgz]

Originally Posted by michaelahess

I've got allied and it's like $67 a month.

Woah. I just switched to allied and I pay 89. How long have you been with them? I've heard not so great things about their claim center.

[michaelahess]

3-4 years maybe? Got a bunch of discounts, multi car, new car (???), multi policy (house), financial stability, no accidents, maybe one or two others I don't remember. i usually change companies every 3-5 years it seems. Never had a claim through allied yet, knock on wood...

[Black Tire]

I switched from Allied to Allstate, then Geico, then travelers, then to Progressive, then back to Allstate and then back to Geico. Since I saved money each time (as they say in their ads), Geico finally ended up paying me $10 a month for the privilege of insuring my car!

No, seriously now, this is just idiotic insurance company stuff. I would switch companies. I have been with State Farm you decades and have been pleased with them. I am paying just a bit more for my new FR-S than I paid for my 1999 BMW M3. You often do get discounts by just staying with the same insurance company for a long time.

[p911gt3]

Originally Posted by michaelahess

3-4 years maybe? Got a bunch of discounts, multi car, new car (???), multi policy (house), financial stability, no accidents, maybe one or two others I don't remember. i usually change companies every 3-5 years it seems. Never had a claim through allied yet, knock on wood...

Changing companies often is quite often one of the best approaches if your goal is to have the cheapest coverage. Many companies offer new business discounts that roll off after 6,12, 18, or 24 months. Sometimes they are a reasonably large percentage. There is at least one company I know that attempts to discount the policy the longer a customer is with them though.

In my own, incredibly biased opinion, Auto Insurance should be becoming more commodity like as time passes; it should be our job to shop for the cheapest price for a given set of coverages because the brand of auto insurance matters little now, and should continue to matter less in the future. Obviously there are some exceptions in various areas of the insurance experience, but in general:
One pays their premiums
Over one's lifetime, the premiums they pay are more than the payouts they recieve

[/rant]

Should we keep track of who is getting what rates where in a thread?

[brz007]

Another thing to consider is that your premium is muti part. 1) The type of vehicle, keep in mind we are getting new model etc. So if our cars get damaged, OEM is the only way to go, insurers reflect that in the rating of the car. As cars pass through a couple cycles, in theory it should be cheaper to insure as more repair options become available, unless the risk for those cars goes up. 2) Liability this part of the premium is based on your personal risk factors, age, sex, tickets, etc. Also how much liability you purchase, 25k-1mil. Personally I think having min limits is silly, but a I have heard countless times customers wish they could increase their limits after they caused a major accident. Well at that point, hindsight is always 20/20. My 2 cents.