Josh's GX

Hello everyone, I thought I would start a thread here to see what everyone pays for their insurance on just the GX470. Please post as much info as you can about your coverage limits, premium, and company insured with. I'll start.

My limits are:
$250/500/100 (Per person/per accident/property damage)
$100/300 (uninsured motorist and underinsured motorist)
$25,000 Medical per person
$500 Comp. and Coll. deductibles
$75 Towing and Labor
$20/600 Rental (Per day/Max)
I am insured with The Hartford in Idaho for $361 every six months.

I think it will be interesting to know what everyone else out there pays and for what coverage's!

Thanks for your posts.

loflin

Don't have my numbers in front of me.

Getting some general feeling, if people respond, will be interesting, but....

There are a lot of factors in insurance cost, not related to the car (or even the value of the car). Multi-car discount, car & home discount, good student discount, usage of car (work, school, etc.), penalty for tickets, penalty for previous chargeable claims, geographic region the car resides in, etc., etc.

Then additionally, insurance rates are regulated by each state, so that makes a difference.

One point I would add, that I think people should think of (depending on how your insurance counts chargeable claims), is your deductible. (i.e. $500 vs $1000).

For my insurance (Allstate in TX), I've found that I will not make a claim for damage less than $1000, because Allstate will raise your premiums for the next 3 years (again depending on many factors, including whom is at fault). That premium increase and the additional premium to get the deductible to $500, is more than the $500 "saved" when fixing the damage.

Net: I put all my deductibles at max ($1000) and pocket the (fairly significant) delta in premiums.

Capirato

Josh.....

In California, it depends on the Zip Code, your age, miles driven, driving record, marital status, year model of vehicle, whether you have theft alarms, etc.

~ Cap

rklages

Basically same cover, Boston suburb, one minor accident still on my record, 36 years old $1278/year. Ma and Ca are about the same for insurance rules, as stated above, depends on my zip (I live in a cheap zip), age, miles driven (I don't get a low milage discount), record not bad, 15% alarm discount, 10% multi vehicle discount. Time to move to Idaho I guess!!!!

Josh's GX

Thank you for your posts. I understand all the factors in deciding the premium of insurance. I am an independant insurance agent. I just wanted to get a rough feel for what everyone pays on their GX. I know each of us will have many different factors in determining our own premiums. I am a 23 year old married male with out any incidents on mine or my wife's MVR. With three cars on the policy, work use and I insure my home with another company, so I just get a discount for being a homeowner, but not for the account credit.

Loflin has a good point about the higher deductibles. Even a not-at-fault accident is still slightly chargable and incidents may stay on your record for 5 years. Most companies tell you they stay on for 3 years, but now a lot of them are going back 5 years to help determine your tier. So even though they only go back 3, they may technically charge for 5 years.

As for moving to Idaho, we are the 3rd least expensive state in the nation for auto insurance and first for homeowner's insurance.

If you could, please remember to state your insurance company, so we can get a feel for who the different companies are across the nation as well as their rates. (For rough purposes )

llcc1975

Allstate.
Same coverages as you (incl towing and I also have GAP). Live in AZ and have 2 cars, married, multi-policy discount. Appx. $950 annually.

hsk73

$950!!
Wow.... that's cheap... are you sure it's not semi-annually?? j/k
I'm paying $2800 for my cars... 06 GS & GX... AAA...
I have higher coverage due to my cars being a lease...
But, still... it's too high... I think I need to switch soon...

llcc1975

Yep, that's what I pay. I have 05 GX470 and 06 Audi A4 2.0T. The GX is under a loan and the A4 is a lease so I have to have higher coverages too. I pay a total of $1945 annually for both cars and each car accounts for approx. half of the total annual premium (except GX is a tad cheaper).

We also have pretty clean driving records too so that helps.

You may want to look around but I do know that CA rates are generally much higher than the rest of the country (depending on where you live--but if you are in any of the major metro areas, it's high). Phoenix rates are higher than most cities too but nothing compared to CA rates (at least that's what my agent tells me).

But hey, it never hurts to comparison shop. I do it about once a year just to see what's out there.

The G Man

MA, NY and CA rates are among the highest in the country. Here in MA, the rates are heavily regulated. I paid 1200 bucks a year and my driver record is excellent.

Josh's GX

Yeah, I forgot to put down that I have Loan/Lease Payoff (GAP) coverage too on my 2006 GX. Another big factor in determining the premium is your credit. Most insurers are now going off credit (not in CA) to figure out how to get your rate.

hsk73 if you are in CA without any tickets or accidents you should look up Wawanesa insurance. They are very competitive, but are picky on who they insure. Mercury is another competitive company in CA too!

If you lease a vehicle the lease company will usually require you to have "increased" limits at $100K per person and $300K per accident for your liability. I personally carry $250K/500K because the premium is usually around $40 more every year and I currently pay $722 a year for just my GX. I also have a 00' Olds Alero and 94' Olds Bravada. Just comp. on the Alero; no coll. and just liability on the Bravada, my total annual premium is $1294.

I believe New Jersey is the most expensive state in the nation for auto insurance, so hopefully someone here who lives in NJ will post their info.

hsk73

I've checked few companies since yesterday...
I haven't heard of Wawanesa... I'll check them out...

State Farm was $100 highter... around $2900
Geico was only $200 less... $2600
Mercury was the cheapest.... $2000!!
But, it's Mercury... can I trust them??

I live in Fullerton... Mine should be alot cheaper then LA area....
Wondering how much LA people are paying for their insurance...

Josh's GX

Why wouldn't you be able to trust them??? Geico is typically pretty competitive, but you have to go through them directly. So you won't have an agent on your side to give you thier expert advice. Another nice thing about having an agent is that if you were to call them and tell them about an accident, they would be able to give you advice on what they would do in that situation, but if you were to call a direct writer, they would instantly put the accident on your record; whether you were at fault or not. (I'm not saying all agents do it that way, but that is how I handle my clients.) Keep checking around and be sure to look up Wawanesa.

hsk73

I just got a quote back from Wawanesa... $2251!!

Josh's GX

See that's a $550 savings . Now more people should post what they have and maybe we can save other people money too. That's great that they were able to come back with a great quote. What coverages did that include???

llcc1975

If you are concerned about trusting a carrier, you can probably check their AM Best rating to see if they are financially sound. And, some smalle insurance companies may have reinsurance agreements with much larger carriers. If that's the case, I'd check the AM Best rating of the reinsurer in addition to the primary carrier. I've personally never heard of Mercury but that doesn't mean anything as I think there are probably a good number of credible and financially sound carriers out there that don't have the household name recognition like Allstate, State Farm, Progressive, etc.