How much do you pay for auto insurance?
03-28-17, 08:20 PM
#31
Intermediate
Thread Starter
I just increased my liability coverage w/ GEICO and paying less now at $775 for 6/months. Did a quote search on many other companies and they all would have costed me $800+ for 6 months with moderate liability coverage.
$300k/$500k/$100k bodily injury/property (the cost difference between $50k-500k was very little)
$100/200k uninsured
$500 comprehensive
$1000 collision
$300k/$500k/$100k bodily injury/property (the cost difference between $50k-500k was very little)
$100/200k uninsured
$500 comprehensive
$1000 collision
03-28-17, 09:22 PM
#32
Driver School Candidate
If you don't mind me asking.
How old are you? Are you in SoCal or NorCal? and do you have any special discounts (multi-car, loyalty, etc...).
How old are you? Are you in SoCal or NorCal? and do you have any special discounts (multi-car, loyalty, etc...).
I just increased my liability coverage w/ GEICO and paying less now at $775 for 6/months. Did a quote search on many other companies and they all would have costed me $800+ for 6 months with moderate liability coverage.
$300k/$500k/$100k bodily injury/property (the cost difference between $50k-500k was very little)
$100/200k uninsured
$500 comprehensive
$1000 collision
$300k/$500k/$100k bodily injury/property (the cost difference between $50k-500k was very little)
$100/200k uninsured
$500 comprehensive
$1000 collision
03-28-17, 10:48 PM
#33
Intermediate
Thread Starter
03-29-17, 12:10 PM
#34
State Farm,
but again, I have loyalty, safe driver, combined vehicle/home, low annual mileage etc. discounts:
Your rates would not even come close to mine..
Here is my breakdown: (pulled right off my State Farm App).
Discounts:
Multiple Line, Driver Safety Record, California Good Driver, Multicar, Loyalty >30 year, Drive Safe & Save
So you see my rate is $3,651.59 per year, minus $2,666.23 in discounts = $985.36 on my RCF, and my discounts would not apply to you or anyone else, and my comp rates are based on my zip code, and my Drive Safe & Save based on my home to work commute distance, The 30 year loyalty discount makes up about 50% of those discounts, which kind of sucks for me because I can't actually rate shop, no one can match that discount, so it's getting harder and harder to press my agent to keep the rates low because he knows damn well no other company will offer me the loyalty discount. Thankfully State Farm has never screwed me on a claim.
as I said in my previous post, the breakdown isn't even, the RCF costs more than my Camry, 1932 Ford Hot Rod, and motorcycle. The RCF is $985 a year, the Camry is $661, the Hot Rod is $596 and the Motorcycle is $242.
The Hot Rod, Motorcycle, and the Camry are all driven under 5K a year, that gives a separate discount, and the Hot Rod has a classic car rider so it has a zero deductible with a requirement to replace any part with an original part unless unavailable, then it can be replaced with an owner approved remanufactured or equivalent replacement part.
Insurance is just too subjective, there will never be 2 people paying the same for the same coverage because everyone situation and circumstances are different.
but again, I have loyalty, safe driver, combined vehicle/home, low annual mileage etc. discounts:
Your rates would not even come close to mine..
Here is my breakdown: (pulled right off my State Farm App).
Liability - Bodily Injury / Property Damage $250,000 each person / $500,000 each accident $100,000 each accident Premium $306.97 /12 mos
Coverage Details Uninsured Motor Vehicle - Bodily Injury $250,000 each person / $500,000 each accident Premium $67.20 /12 mos
Coverage Details Uninsured Motor Vehicle - Property Damage $1,000 each accident Premium $3.78 /12 mos
Coverage Details Comprehensive Deductible $250 Premium $139.14 /12 mos
Coverage Details Collision Deductible $250 Premium $452.47 /12 mos
Coverage Details Car Rental and Travel Expenses 80% of Cost Max $1,000 Premium $15.80 /12 mos
Total Premium $985.36
(total premium includes your discounts)
Coverage Details Uninsured Motor Vehicle - Bodily Injury $250,000 each person / $500,000 each accident Premium $67.20 /12 mos
Coverage Details Uninsured Motor Vehicle - Property Damage $1,000 each accident Premium $3.78 /12 mos
Coverage Details Comprehensive Deductible $250 Premium $139.14 /12 mos
Coverage Details Collision Deductible $250 Premium $452.47 /12 mos
Coverage Details Car Rental and Travel Expenses 80% of Cost Max $1,000 Premium $15.80 /12 mos
Total Premium $985.36
(total premium includes your discounts)
Discounts:
Multiple Line, Driver Safety Record, California Good Driver, Multicar, Loyalty >30 year, Drive Safe & Save
Total: $2,666.23 / 12 mos
So you see my rate is $3,651.59 per year, minus $2,666.23 in discounts = $985.36 on my RCF, and my discounts would not apply to you or anyone else, and my comp rates are based on my zip code, and my Drive Safe & Save based on my home to work commute distance, The 30 year loyalty discount makes up about 50% of those discounts, which kind of sucks for me because I can't actually rate shop, no one can match that discount, so it's getting harder and harder to press my agent to keep the rates low because he knows damn well no other company will offer me the loyalty discount. Thankfully State Farm has never screwed me on a claim.
as I said in my previous post, the breakdown isn't even, the RCF costs more than my Camry, 1932 Ford Hot Rod, and motorcycle. The RCF is $985 a year, the Camry is $661, the Hot Rod is $596 and the Motorcycle is $242.
The Hot Rod, Motorcycle, and the Camry are all driven under 5K a year, that gives a separate discount, and the Hot Rod has a classic car rider so it has a zero deductible with a requirement to replace any part with an original part unless unavailable, then it can be replaced with an owner approved remanufactured or equivalent replacement part.
Insurance is just too subjective, there will never be 2 people paying the same for the same coverage because everyone situation and circumstances are different.
You sure the price isn't for 6 month, not 1 year? My Satefarm goes by 6 month at a time.
I have similar discounts as you, maxed out on loyalty (20% is the maximum I believe, not 50% as you mention), low mileage (under 7k a year), multi vehicle, safe driver, and the house. And I pay $550/ 6 month for my IS350 with Much lower coverage than you. I understand it is subjective, but that's no where close.
03-29-17, 12:53 PM
#35
Lexus Champion
You sure the price isn't for 6 month, not 1 year? My Satefarm goes by 6 month at a time.
I have similar discounts as you, maxed out on loyalty (20% is the maximum I believe, not 50% as you mention), low mileage (under 7k a year), multi vehicle, safe driver, and the house. And I pay $550/ 6 month for my IS350 with Much lower coverage than you. I understand it is subjective, but that's no where close.
I have similar discounts as you, maxed out on loyalty (20% is the maximum I believe, not 50% as you mention), low mileage (under 7k a year), multi vehicle, safe driver, and the house. And I pay $550/ 6 month for my IS350 with Much lower coverage than you. I understand it is subjective, but that's no where close.
mine is 12 month policy, I pay for it in full in Feb every year for all the vehicles and the house, I hate making monthly payments. Could be yours is a 6 month because you make payments? I have been on a 12 month policy for as long as I can recall, 20+ years.
and you could be correct about the loyalty discount, I was basing the percentage on the quotes I got from Nationwide and Liberty Mutual being nearly 2 times what I am currently paying and the only difference was the lack of a loyalty discount.
when my policy comes up for renewal I will typically get 2-3 quotes from other companies and if I see a better deal I will bring it up with my agent, over the past 5-6 years he has done a good job to match the quotes I have been given, then last year (Feb 2016) my rates dropped significantly and my agent told me it was because I passed the 30 year loyal customer mark so my loyalty discount % went up. He said it will go up again @ 40 years.
your six month rate of $550 is about the same as my 1 year rate of $985.
Last edited by mjeds; 03-29-17 at 12:57 PM.
03-30-17, 06:12 AM
#37
USAA, $139/mo for 100K/300K $250 deductible (I don't have the break down for just the Lexus...dollar amount covers the wife's 2014 IS350, my 2017 Tundra 4x4 and my boat). I'm 40yo, wife is 38yo, both with clean records
03-30-17, 07:54 PM
#38
drives cars
Note, there was a thread about this a while back: https://www.clublexus.com/forums/is-...ml#post9709593
I'm paying $736.06 per six months on my 2016 IS 300 through Nationwide.
Collision coverage: 750 deductible
Comprehensive coverage: 750 deductible
Bodily injury:
Uninsured motorist:
Rental reimbursement: 30 per day, 900 total maximum.
Discounts:
I'm paying $736.06 per six months on my 2016 IS 300 through Nationwide.
Collision coverage: 750 deductible
Comprehensive coverage: 750 deductible
Bodily injury:
- each person: 25,000
- each accident: 50,000
Uninsured motorist:
- each person: 25,000
- each accident: 50,000
Rental reimbursement: 30 per day, 900 total maximum.
Discounts:
- Multi-policy (have homeowner's as well)
- Financial stability (related to credit score?)
- New vehicle
- Air bag discount (lol)
- Multi-car
- Accident free
- Group discount (member of an alumni association which qualifies)
03-31-17, 09:00 AM
#39
Lexus Champion
Note, there was a thread about this a while back: https://www.clublexus.com/forums/is-...ml#post9709593
I'm paying $736.06 per six months on my 2016 IS 300 through Nationwide.
Collision coverage: 750 deductible
Comprehensive coverage: 750 deductible
Bodily injury:
Uninsured motorist:
Rental reimbursement: 30 per day, 900 total maximum.
Discounts:
I'm paying $736.06 per six months on my 2016 IS 300 through Nationwide.
Collision coverage: 750 deductible
Comprehensive coverage: 750 deductible
Bodily injury:
- each person: 25,000
- each accident: 50,000
Uninsured motorist:
- each person: 25,000
- each accident: 50,000
Rental reimbursement: 30 per day, 900 total maximum.
Discounts:
- Multi-policy (have homeowner's as well)
- Financial stability (related to credit score?)
- New vehicle
- Air bag discount (lol)
- Multi-car
- Accident free
- Group discount (member of an alumni association which qualifies)
if you have a home worth $250,000 and only $25,000 liability, if you are in a at fault accident where you are sued in excess of the $25,000 you could lose your home or have a lean put on it, or have your wages garnished.
don't think it can happen?
in 2003 I was side swiped while on my motorcycle, the person who knocked me off the bike fled the scene, unfortunately the person behind me, who did not actually cause the accident, struck me after fell off the bike. My injuries alone were over $264,000. 8 surgeries, for broken pelvis, hip, ruptured bladder, ruptured spleen, and ruptured ********, not to mention the lacerations and road rash. The driver that was behind me was found to be 90% at fault for my injuries because it was determined that while I did slide, I suffered the internal injuries and breaks from his hitting me "as a pedestrian in the roadway" the other 10% was picked up by my insurance for the hit and run driver.
I got a 7 figure jury award, the driver behind me that struck me was found guilty of speeding and following too closely, and openly admitted to the police and to the court that he wasn't paying attention because he was in a verbal argument with his passenger, he never saw me go down, and he was traveling 30 over the suggested speed on the interchange. A civil jury awarded me 7 figures.
His insurance only covered $50,000 liability, he was on the hook for the remaining settlement, a lean was put on his home, if he sells his home I get the profits, and his wages are garnished.. That was in 2003, he won't be finished paying of the award until 2023.
My liability covers what I owe on my home and I have an additional Umbrella Liability Policy to cover up to $1 million to protect my home and all my assets.. Yeah it sucks to have to pay insurance, but I would rather know I'm covered than to have happen to me what happened to the guy that hit me..
Last edited by mjeds; 03-31-17 at 09:04 AM.
03-31-17, 09:25 AM
#40
drives cars
IMO you are way underinsured if you own a home. A good rule of thumb: Make sure you’re covered for an amount equal to the total value of your assets (Add up the dollar values of your house, your car, savings and investments).
if you have a home worth $250,000 and only $25,000 liability, if you are in a at fault accident where you are sued in excess of the $25,000 you could lose your home or have a lean put on it, or have your wages garnished.
don't think it can happen?
in 2003 I was side swiped while on my motorcycle, the person who knocked me off the bike fled the scene, unfortunately the person behind me, who did not actually cause the accident, struck me after fell off the bike. My injuries alone were over $264,000. 8 surgeries, for broken pelvis, hip, ruptured bladder, ruptured spleen, and ruptured ********, not to mention the lacerations and road rash. The driver that was behind me was found to be 90% at fault for my injuries because it was determined that while I did slide, I suffered the internal injuries and breaks from his hitting me "as a pedestrian in the roadway" the other 10% was picked up by my insurance for the hit and run driver.
I got a 7 figure jury award, the driver behind me that struck me was found guilty of speeding and following too closely, and openly admitted to the police and to the court that he wasn't paying attention because he was in a verbal argument with his passenger, he never saw me go down, and he was traveling 30 over the suggested speed on the interchange. A civil jury awarded me 7 figures.
His insurance only covered $50,000 liability, he was on the hook for the remaining settlement, a lean was put on his home, if he sells his home I get the profits, and his wages are garnished.. That was in 2003, he won't be finished paying of the award until 2023.
My liability covers what I owe on my home and I have an additional Umbrella Liability Policy to cover up to $1 million to protect my home and all my assets.. Yeah it sucks to have to pay insurance, but I would rather know I'm covered than to have happen to me what happened to the guy that hit me..
if you have a home worth $250,000 and only $25,000 liability, if you are in a at fault accident where you are sued in excess of the $25,000 you could lose your home or have a lean put on it, or have your wages garnished.
don't think it can happen?
in 2003 I was side swiped while on my motorcycle, the person who knocked me off the bike fled the scene, unfortunately the person behind me, who did not actually cause the accident, struck me after fell off the bike. My injuries alone were over $264,000. 8 surgeries, for broken pelvis, hip, ruptured bladder, ruptured spleen, and ruptured ********, not to mention the lacerations and road rash. The driver that was behind me was found to be 90% at fault for my injuries because it was determined that while I did slide, I suffered the internal injuries and breaks from his hitting me "as a pedestrian in the roadway" the other 10% was picked up by my insurance for the hit and run driver.
I got a 7 figure jury award, the driver behind me that struck me was found guilty of speeding and following too closely, and openly admitted to the police and to the court that he wasn't paying attention because he was in a verbal argument with his passenger, he never saw me go down, and he was traveling 30 over the suggested speed on the interchange. A civil jury awarded me 7 figures.
His insurance only covered $50,000 liability, he was on the hook for the remaining settlement, a lean was put on his home, if he sells his home I get the profits, and his wages are garnished.. That was in 2003, he won't be finished paying of the award until 2023.
My liability covers what I owe on my home and I have an additional Umbrella Liability Policy to cover up to $1 million to protect my home and all my assets.. Yeah it sucks to have to pay insurance, but I would rather know I'm covered than to have happen to me what happened to the guy that hit me..
03-31-17, 09:40 AM
#41
Lexus Champion
my point is, someone who didn't do anything and was just in the wrong place at the wrong time ended up owing a lot of money because he was highly under insured. if he didn't own a home, there would have been nothing to go after so I would have been stuck with his insurance policy, while suing could have awarded me the same via wage garnishment, any attorney will tell you it is not worth it if they don't own investments or property.
I got very little from the award in the grand scheme (technically I haven't received my portion yet and will not until the hospital and attorneys receive theirs), the hospitals and doctors got $300K and would not accept any reduction or negotiation because there was a lawsuit, a lean was put on my property for the amount of the bills until a settlement/award was reached, my attorney got around $400K. If the party that had hit me had $250K in liability coverage the medical bills could have been reduced to 30-50 cents on the dollar, and an trial attorney would not likely have been required, going to trial jumps the attorneys cut from 33% to 50% in CA, state mandated rates for personal injury.
I didn't sue the guy because I wanted money or to harm him, but when push came to shove, he caused life long injuries to me, and the medical bills were piling up and I was on the hook for them. It's 2017 and I am still dealing with the injuries, the only thing that has changed is ACA now prevents my medical insurance from denying coverage for preexisting injuries, up until the passing of ACA my employer provided medical insurance would not cover any of my injuries, so all continuing treatment fell back to the settlement.
I got very little from the award in the grand scheme (technically I haven't received my portion yet and will not until the hospital and attorneys receive theirs), the hospitals and doctors got $300K and would not accept any reduction or negotiation because there was a lawsuit, a lean was put on my property for the amount of the bills until a settlement/award was reached, my attorney got around $400K. If the party that had hit me had $250K in liability coverage the medical bills could have been reduced to 30-50 cents on the dollar, and an trial attorney would not likely have been required, going to trial jumps the attorneys cut from 33% to 50% in CA, state mandated rates for personal injury.
I didn't sue the guy because I wanted money or to harm him, but when push came to shove, he caused life long injuries to me, and the medical bills were piling up and I was on the hook for them. It's 2017 and I am still dealing with the injuries, the only thing that has changed is ACA now prevents my medical insurance from denying coverage for preexisting injuries, up until the passing of ACA my employer provided medical insurance would not cover any of my injuries, so all continuing treatment fell back to the settlement.
03-31-17, 11:12 AM
#42
drives cars
Right, I certainly see how things could go very wrong if all the coverage you need isn't available. Certainly it's possible to wreck your whole life in an instant just by being careless. The one accident I was involved in (I was a passenger, but still...) was because the driver of the other vehicle was turned around tending to a toddler in the back seat. Ran through a red light into the side of our car. He didn't have insurance, but fortunately, the owner of the vehicle he was driving (!!) did have insurance. We would have had to lean on the uninsured motorist coverage if he had been driving his car - which, he may not have had anyway considering he had no insurance. Fortunately, no hospital trips were required, but the car was totaled.
So I definitely understand how serious this is. My reaction was just that... seemed like quite a hell of a story. Hopefully nothing like that happens again!
(which is exactly what insurance is for, right...?
)
I think I will consult with my agent and see what it would take to get to 50k/100k for now.
So I definitely understand how serious this is. My reaction was just that... seemed like quite a hell of a story. Hopefully nothing like that happens again!
(which is exactly what insurance is for, right...?
)I think I will consult with my agent and see what it would take to get to 50k/100k for now.
03-31-17, 11:49 AM
#43
Lexus Champion
Right, I certainly see how things could go very wrong if all the coverage you need isn't available. Certainly it's possible to wreck your whole life in an instant just by being careless. The one accident I was involved in (I was a passenger, but still...) was because the driver of the other vehicle was turned around tending to a toddler in the back seat. Ran through a red light into the side of our car. He didn't have insurance, but fortunately, the owner of the vehicle he was driving (!!) did have insurance. We would have had to lean on the uninsured motorist coverage if he had been driving his car - which, he may not have had anyway considering he had no insurance. Fortunately, no hospital trips were required, but the car was totaled.
So I definitely understand how serious this is. My reaction was just that... seemed like quite a hell of a story. Hopefully nothing like that happens again!
(which is exactly what insurance is for, right...? )
I think I will consult with my agent and see what it would take to get to 50k/100k for now.
So I definitely understand how serious this is. My reaction was just that... seemed like quite a hell of a story. Hopefully nothing like that happens again!
(which is exactly what insurance is for, right...?
)I think I will consult with my agent and see what it would take to get to 50k/100k for now.
yeah, no job, no insurance, new job a bust because I spent the next 2 years in a wheel chair and in and out of surgery. Insurance is a racket, but it is something I won't ever go without or be under covered with anymore.
03-31-17, 12:15 PM
#44
drives cars
In any case thank you for your insights! It does provide some much-needed context of why we pay what we do for insurance.
03-31-17, 01:52 PM
#45
Good Story.
Today's medical bills will completely destroy a person and their family.
My father in law hit a careless 70 year old bicyclist while driving his work bus.
The guy broke his leg and needed surgery. The total cost of that accident came out to $1.1 million dollars including the settlement!
Luckily the company insurance covered it. If this was a personal accident, we would have been screwed.
I went and got a $1 million umbrella coverage after this incident.
Today's medical bills will completely destroy a person and their family.
My father in law hit a careless 70 year old bicyclist while driving his work bus.
The guy broke his leg and needed surgery. The total cost of that accident came out to $1.1 million dollars including the settlement!
Luckily the company insurance covered it. If this was a personal accident, we would have been screwed.
I went and got a $1 million umbrella coverage after this incident.
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