What do you pay for car insurance
06-05-2020, 04:40 PM
#31
Rennlist Member
Insurance costs vary dramatically based on country, state/province, city and even district within a city or county. Add variables such as driving record, age, gender and level and types of coverage desired, and anything remotely resembling apples-to-apples comparisons is impossible. Best advice I ever received is to use a broker to shop different companies rather than deal directly, bundle all insurance (home, car, motorcycles, RVs etc.) to get best pricing and a single throat to choke in the event a home burns down with everything in it. Also, reshop the “bundle” every couple of years to keep everybody honest.
For those with a teenage boy about to drive, expect your insurance to almost double. When I got a quote for my teenager, the funny part was our premium would be the lowest by 12% if we assigned him to our 2010 GT3 instead of the 2016 LR4 or 2019 Pilot if he would never drive it. Age of the car seems to be a big factor. I really wish I never sold our 2008 G500.
06-10-2020, 09:29 PM
#32
Burning Brakes
GREAT thread; I review my insurance portfolio bi-annually and this thread reminded me to review it again. I upped my limits (particularly on un/underinsured) to $5M, and expanded my umbrella / excess to $20M. Switched from AIG to PURE.
The following 2 users liked this post by 997usa:
detansinn (06-10-2020),
Porsche911GTS'16 (06-11-2020)
06-11-2020, 11:28 PM
#33
Rennlist Member
Just snap a pic of the odometer, pay some cash... then 6 months later send in another pic of the mileage and true-up. No big brother. Just agreed value and pay per mile.
It's not available in all states (yet)
__________________
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992carreraS (06-12-2020)
06-12-2020, 01:23 AM
#34
I had Allstate for 30 years but they kept larding on features I didn't want and then raising the premiums. 'Look, you have road side assistance. Wrecker service!' State Farm was cheaper but service was awful. Wouldn't send bills, applied payments to the wrong account, agent handed me off to some girl working from her house in Boise. I switched to Safeco and I'm much happier.
06-12-2020, 07:11 PM
#36
Because State Farm continually screwed things up. I have 3 cars and a homeowner policy. I wanted two cars on one policy, one car on another and my HO on another. That shouldn't be all that complicated but SF couldn't seem to figure it out. Kept combining accounts. crediting checks to the wrong policy, on and on. My bookkeeper wants a physical bill so she can write a physical check. Some of us old school folks like to do it that way ......in case there's an F up which, with SF, there were plenty.
The topper was when I traded in my '14 BMW 650 ix on my new '20 C4S and SF didn't make the switch on the policy. I know the dealer had a binder or they wouldn't let me drive down the road but SF went on blissfully unaware. Finally, after about 45 days, I got a bill from SF which still showed my BMW as insured and no sign of my new 911.
I called them and asked. 'Well, I see in the notes here that you talked about trading in your car and buying a new one but we have no records that you actually did that ...'
I called an independent agent to ask about Progressive but she found cheaper coverage through Safeco and that's who I went with. It was slightly more than SF but I don't care.
I called SF to cancel and they seemed very surprised. Idiots.
The topper was when I traded in my '14 BMW 650 ix on my new '20 C4S and SF didn't make the switch on the policy. I know the dealer had a binder or they wouldn't let me drive down the road but SF went on blissfully unaware. Finally, after about 45 days, I got a bill from SF which still showed my BMW as insured and no sign of my new 911.
I called them and asked. 'Well, I see in the notes here that you talked about trading in your car and buying a new one but we have no records that you actually did that ...'
I called an independent agent to ask about Progressive but she found cheaper coverage through Safeco and that's who I went with. It was slightly more than SF but I don't care.
I called SF to cancel and they seemed very surprised. Idiots.
07-10-2020, 04:59 PM
#37
Burning Brakes
First I want to thank everyone for this particular thread as it has helped me a great deal. It really does pay to review your insurance policies at least every few years (not sure how long it's been for me personally). Besides increasing coverage, I eliminated a couple of items from 2 of 3 vehicles. First was emergency assistance since that is provided by VW (wife's Golf R MT) for 3 years, and Porsche. I also decided to "self insure" for car rental since I wasn't impressed with their coverage ($25/day, $600 max).
2020 992
Near the Smoky Mountains in Tennessee (small town which helps).
66 years of age
$825.36 / 12mo premium (no accidents, low annual mileage, multicar, etc.) with $500 deductible (it was only $3 more per month for 992) for 500 vs 1,000 :-D
$250K/ 500K /250K coverage + $2MM umbrella policy ( I increased from 100K property damage, $300K bodily injury, $100K uninsured/under-insured motorist and added umbrella)
State Farm
So thanks again for making me get off my A$$.
2020 992
Near the Smoky Mountains in Tennessee (small town which helps).
66 years of age
$825.36 / 12mo premium (no accidents, low annual mileage, multicar, etc.) with $500 deductible (it was only $3 more per month for 992) for 500 vs 1,000 :-D
$250K/ 500K /250K coverage + $2MM umbrella policy ( I increased from 100K property damage, $300K bodily injury, $100K uninsured/under-insured motorist and added umbrella)
State Farm
So thanks again for making me get off my A$$.
07-10-2020, 07:21 PM
#38
Drifting
2020 C4, $5M Third Party, $500 deductible, Replacement cost (first 2 years) of $140,000 CAD, All Purpose Use, Primary Driver with Maximum Discount (good driver) - Annual $2,400CAD ($1,777USD).
But not the best coverage (i.e. low death benefit, low loss of income benefit, loss of use coverage is extra and no opportunity for similar vehicle if vehicle is damaged and laid up, no diminished value payout in the event of an accident.
But not the best coverage (i.e. low death benefit, low loss of income benefit, loss of use coverage is extra and no opportunity for similar vehicle if vehicle is damaged and laid up, no diminished value payout in the event of an accident.
07-10-2020, 07:33 PM
#39
Drifting
I'm a big fan of overinsuring in certain circumstances. In our case, we don't have an eight-figure net worth -- it's in the sevens, which means that one serious judgment against us could wipe out a significant portion of our life savings. As a result, we carry relatively high coverage, with a $2MM overarching umbrella policy to pick up the gap between standard insurance coverage and any judgments that might come against us.
Coverage is below, from Travelers. Our agent indicated that this company is far more exotic-car friendly than most. We had State Farm for 25 years. Prior to taking delivery of my wife's 2019 Cayenne Turbo, we got a quote from our then-agent that made my eyes water. She couldn't do a thing about it. "State Farm doesn't like fast, expensive cars," she told me. So I called around to every damned company I knew, and a ton of independent agents, and ended up with Travelers. We pay $3300 per year for the coverage below -- for three cars: a 2019 Cayenne Turbo; a 2020 911 C2S; and a 2020 Acura TLX for our daughter (she's 15 and not on the policy. It'll be expensive when she gets her license, no surprise there -- about $2400 more per year to allow her to drive all three cars. Note the word "allow." That means theoretically. That four-cylinder TLX is all she gets, folks).
We are in suburban Dallas, TX USA. 49-year old male and 50-year old female. No accidents or tickets on either record.
Bodily Injury Liability and Property Damage Liability
$500,000 per incident
For you and your passengers in an accident
Combined Uninsured Motorists Bodily Injury and Property Damage
$500,000 per incident
$250 deductible applicable to Property Damage Liability
Personal Injury Protection
$2,500 per person
Comprehensive
Actual cash value
$100 deductible
Extended transportation expenses
$50 per day
$1,500 maximum
New car replacement, three years
2019 Porsche Cayenne Turbo
2020 Porsche 911 Carrera S
Premier Roadside Assistance
Coverage is below, from Travelers. Our agent indicated that this company is far more exotic-car friendly than most. We had State Farm for 25 years. Prior to taking delivery of my wife's 2019 Cayenne Turbo, we got a quote from our then-agent that made my eyes water. She couldn't do a thing about it. "State Farm doesn't like fast, expensive cars," she told me. So I called around to every damned company I knew, and a ton of independent agents, and ended up with Travelers. We pay $3300 per year for the coverage below -- for three cars: a 2019 Cayenne Turbo; a 2020 911 C2S; and a 2020 Acura TLX for our daughter (she's 15 and not on the policy. It'll be expensive when she gets her license, no surprise there -- about $2400 more per year to allow her to drive all three cars. Note the word "allow." That means theoretically. That four-cylinder TLX is all she gets, folks).
We are in suburban Dallas, TX USA. 49-year old male and 50-year old female. No accidents or tickets on either record.
Bodily Injury Liability and Property Damage Liability
$500,000 per incident
For you and your passengers in an accident
Combined Uninsured Motorists Bodily Injury and Property Damage
$500,000 per incident
$250 deductible applicable to Property Damage Liability
Personal Injury Protection
$2,500 per person
Comprehensive
Actual cash value
$100 deductible
Extended transportation expenses
$50 per day
$1,500 maximum
New car replacement, three years
2019 Porsche Cayenne Turbo
2020 Porsche 911 Carrera S
Premier Roadside Assistance
In my province (Canada), the government insurance program has recently started selling $5M TP Liablity insurance for $16.00/year and up to $10M CAD in TP liability insurance which costs an addition $3.00 ($19.00/year). the insurance is cheap because Canadian courts don't award damages anywhere near that amount so for a judgement in that range, I'd have to get into an at fault accident in the USA. Still, given that I am in a position to lose the maximum liability insurance available, that is what I buy.
07-10-2020, 07:37 PM
#40
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Join Date: Feb 2009
Location: Newport Beach, CA and Melbourne, Australia
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First I want to thank everyone for this particular thread as it has helped me a great deal. It really does pay to review your insurance policies at least every few years (not sure how long it's been for me personally). Besides increasing coverage, I eliminated a couple of items from 2 of 3 vehicles. First was emergency assistance since that is provided by VW (wife's Golf R MT) for 3 years, and Porsche. I also decided to "self insure" for car rental since I wasn't impressed with their coverage ($25/day, $600 max).
2020 992
Near the Smoky Mountains in Tennessee (small town which helps).
66 years of age
$825.36 / 12mo premium (no accidents, low annual mileage, multicar, etc.) with $500 deductible (it was only $3 more per month for 992) for 500 vs 1,000 :-D
$250K/ 500K /250K coverage + $2MM umbrella policy ( I increased from 100K property damage, $300K bodily injury, $100K uninsured/under-insured motorist and added umbrella)
State Farm
So thanks again for making me get off my A$$.
2020 992
Near the Smoky Mountains in Tennessee (small town which helps).
66 years of age
$825.36 / 12mo premium (no accidents, low annual mileage, multicar, etc.) with $500 deductible (it was only $3 more per month for 992) for 500 vs 1,000 :-D
$250K/ 500K /250K coverage + $2MM umbrella policy ( I increased from 100K property damage, $300K bodily injury, $100K uninsured/under-insured motorist and added umbrella)
State Farm
So thanks again for making me get off my A$$.
07-11-2020, 12:21 AM
#42
Rennlist Member
Join Date: Feb 2009
Location: Newport Beach, CA and Melbourne, Australia
Posts: 4,333
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07-11-2020, 01:40 AM
#44
Rennlist Member
07-11-2020, 02:07 AM
#45
Rennlist Member
Thread Starter
