Auto Insurance-Highway Robbery

[LuckenbachTexas]

Right on

 

[Rockrat75]

Rates have gone up so much, probably in part that parts are so much more expensive. Add all the drivers without insurance and wrecks where the companies cannot collect anything because of the uninsured motorists, I am not surprised rates have gone up. Supposedly, one third of drivers here, don't have insurance.

 

[the_leper_colony]

... Add all the drivers without insurance and wrecks where the companies cannot collect anything because of the uninsured motorists, I am not surprised rates have gone up. Supposedly, one third of drivers here, don't have insurance.

Exactly! About 20 years ago, I managed to get a job transfer from California to rural New Mexico ("Oh, thank God!"). The cost of everything in NM was markedly lower - except car insurance. When we commented on that, the folks that had been there longer told us, "It's because half the drivers, including most of the illegals, don't bother with car insurance!"

Even in places where you have to show proof of insurance to register the vehicle & get plates/tags, a lot of people only keep the insurance long enough to make the government happy, and then cancel it. So, it's sort of like buying your groceries from a store that has a big shoplifting problem - the costs from all the deadbeats have to be covered by the honest customers. Anyone who actually pays for car insurance is also paying for all of the uninsured motorists.

 

[GypsmJim]

why is it dumb for them to get their own car and insurance? to me it is dumber to buy them a car and pay the insurance. the same people that moan about kids being lazy not wanting to work are the same ones that pay for everything for their kids. why work? at 16 I had 3200 saved. got my permit and plates same time. went home screwed the plates on

You read my post wrong. Maybe I worded it bad. You just agreed with me.

 

[moparclan]

Ever since Arizona made it mandatory it just keep going up! Two people 65+ 4 vehicles a 56 F150, 85 Dodge Ram, 2003 Chrysler Sebring, and a 2013 Ford Focus. $230 a month! Driven maybe once or twice a week! 56 maybe 200 miles a year, 85 maybe 1000 a year. Ripoff! No accidents, no tickets. total BS!

 

[sc1911cwp]

Ever since Arizona made it mandatory it just keep going up! Two people 65+ 4 vehicles a 56 F150, 85 Dodge Ram, 2003 Chrysler Sebring, and a 2013 Ford Focus. $230 a month! Driven maybe once or twice a week! 56 maybe 200 miles a year, 85 maybe 1000 a year. Ripoff! No accidents, no tickets. total BS!

I agree. Even in my State, being over 65+, I thought I'd be given a Discount. Not so. To insurance companies we are a High Risk Group. In general, diminished eyesight, diminished hearing, slower response times or reactions, medications, to easily broken or statistically lower survival rates comparing same type accidents across age brackets.

 

[Mega Twin]

In Arkansas the insurance for any one under 25 living at home they always base the insurance on the highest rated vehicle.
One thing that always griped me is that if you bought a car for say$20000.00 and got ins.for it in 19 years the car is worth much less to replace but the premiums never reflect that

 

[Dave P.]

In Arkansas the insurance for any one under 25 living at home they always base the insurance on the highest rated vehicle.
One thing that always griped me is that if you bought a car for say$20000.00 and got ins.for it in 19 years the car is worth much less to replace but the premiums never reflect that

If you've got a 19 year old car that has depreciated like an average car of that vintage you might want to rethink how it's insured.
I sure wouldn't be carrying any comprehensive or collision on it.
Other thing that can save a bit sometimes is having lower liability coverage on basically anything you have and getting an umbrella
policy to bring the liability up to the level you need or feel comfortable with. Umbrella ins. can be had with various underlying coverage
requirements and if you balance that vs. the cost of the base policies sometimes there's some savings. It costs nothing to have an
agent look at the idea.

 

[shoot to thrill]

You read my post wrong. Maybe I worded it bad. You just agreed with me.

oh OK sorry. I will read your post again

 

[GypsmJim]

If you've got a 19 year old car that has depreciated like an average car of that vintage you might want to rethink how it's insured.
I sure wouldn't be carrying any comprehensive or collision on it.
Other thing that can save a bit sometimes is having lower liability coverage on basically anything you have and getting an umbrella
policy to bring the liability up to the level you need or feel comfortable with. Umbrella ins. can be had with various underlying coverage
requirements and if you balance that vs. the cost of the base policies sometimes there's some savings. It costs nothing to have an
agent look at the idea.

It depends on how long you keep it. My 43 year old car is now worth more than I paid for it brand new. It is insured for 100% full coverage (collision, comprehensive, 1/2 million liability, etc.) with no deductible.

I also have a liability umbrella policy. It can NOT be purchased (here anyway) with limited underlying coverage. The minimum liability for my homeowner's, cars and boats must be at $500,000, or they won't write the umbrella policy.

 

[GypsmJim]

One thing that always griped me is that if you bought a car for say$20000.00 and got ins.for it in 19 years the car is worth much less to replace but the premiums never reflect that

Not where I live. The liability may decline, but only by a very small amount. But the comprehensive and collision is significantly less, because the limit of coverage is only what the current value of the car is.

Regardless, talking about insurance on the internet is almost useless, because the specifics vary so much from one state to another.

 

[Kevin]

Regardless, talking about insurance on the internet is almost useless, because the specifics vary so much from one state to another.

And from person to person based on their driving history. And where they live. Big city vs small town. That all matters.

I bought one of the cheapest BMWs, and the insurance was more expensive on that than on my wife's car which cost a heck of a lot more. It was also more expensive than my truck's insurance. Which the truck also cost about 25% more.

My parents bought an older Cadillac, it was a nice old model but only like $7,000. The insurance on that was more than their newer, and lost more more expensive F150.

 

[GypsmJim]

My parents bought an older Cadillac, it was a nice old model but only like $7,000. The insurance on that was more than their newer, and lost more more expensive F150.

It depends how old it is and how you drive it. If you can keep the mileage below about 6000/year and keep it in a garage you can get classic car insurance.

My 1980 is insured for $8k, with full coverage, full glass, full comprehensive and full collision with zero deductable. $154 a YEAR.