Insurance premium went up 50% with my 98 GS400 - anyone else?
12-31-12, 08:25 PM
#1
Insurance premium went up 50% with my 98 GS400 - anyone else?
I realize a lot of factors go into insurance rates, but let's just say that in my case I am quite disappointed.
The only thing that "changed" was going from a 1994 Honda Accord EX to a 1998 Lexus GS400. I understand the rates going up a bit, but 50% per year?! I called and asked why and the lady couldn't give me a very good reason other than "Lexus's are expensive to fix." Um, okay? How about replace? In the event of a Total Loss I'd be lucky to get $8K. Then I asked her, "Well I'd hate to see how much a 2013 would be." And she says, "Well in many cases those are cheaper due to improved safety devices."
My 94 Accord made #1 on the Top 10 most likely to be stolen list quite a few times. The GS400? Not so much.
I don't get it. Can someone else help me understand this better? I'm in my mid 30's, clean driving record, yada yada.
Did anyone else experience this when they got their GS?
The only thing that "changed" was going from a 1994 Honda Accord EX to a 1998 Lexus GS400. I understand the rates going up a bit, but 50% per year?! I called and asked why and the lady couldn't give me a very good reason other than "Lexus's are expensive to fix." Um, okay? How about replace? In the event of a Total Loss I'd be lucky to get $8K. Then I asked her, "Well I'd hate to see how much a 2013 would be." And she says, "Well in many cases those are cheaper due to improved safety devices."
My 94 Accord made #1 on the Top 10 most likely to be stolen list quite a few times. The GS400? Not so much.
I don't get it. Can someone else help me understand this better? I'm in my mid 30's, clean driving record, yada yada.
Did anyone else experience this when they got their GS?
12-31-12, 08:40 PM
#2
Find a new insurance company or drop collision. I pay around $70/month combined for my gs300 and my wife's buick. Only have liability. I wreck it, oh well, I'll buy something else.
It's kinda stupid, but they are partly charging you for the fact that even if you get in a wreck that isn't that bad, they'll have to total the car because of how much oem replacement parts cost.
Also reminds me when I got my car a few years ago. I was with my wife (girlfriend at the time) while she was paying her insurance and I casually asked for a quote. They told me like $400 a month. I lol'ed and was like "I would reach the replacement cost of the vehicle in 2 years!".
It's kinda stupid, but they are partly charging you for the fact that even if you get in a wreck that isn't that bad, they'll have to total the car because of how much oem replacement parts cost.
Also reminds me when I got my car a few years ago. I was with my wife (girlfriend at the time) while she was paying her insurance and I casually asked for a quote. They told me like $400 a month. I lol'ed and was like "I would reach the replacement cost of the vehicle in 2 years!".
Last edited by tiger4life; 12-31-12 at 08:49 PM.
12-31-12, 08:43 PM
#3
Typical insurance BS, progressive jacked up our family rate by 200$ every 6 month's for no reason. No claims, nothing. Their excuse was that they're records show that in Fl accidents have been rising. For one, that's not my problem, nor anyone else's who isn't involved. Our rates should not go up because other drivers are screwing up.
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Mine went up as well but not by 50%. I have Geico and they told me rates went up nationwide due to the amount of insurance fraud. Im in NYC and i pay $165 for full coverage on an 02 GS. Seeing $88 makes me want to move out of NYC
01-02-13, 10:20 AM
#15
I dont know why theres a question about this. You're going from a honda to a Lexus. Its not Insurance BS! A quarter panel on the GS probably costs more than a honda no matter how old it is...
Talk to any agent and they'll give you a list of cars to choose from that have the cheapest rates due to cheaper and more available parts. honda parts come a dime a dozen.
Its sad that people still dont do research before buying a new car. First thing to do be for buying is checking how much insurance is,.
Talk to any agent and they'll give you a list of cars to choose from that have the cheapest rates due to cheaper and more available parts. honda parts come a dime a dozen.
Its sad that people still dont do research before buying a new car. First thing to do be for buying is checking how much insurance is,.