Insurance costs

[Satex]

You need car insurance to register a car in MA. It's also against the law to drive without it.

I looked it up. Massachusetts is an exception. ALL states require proof of financial responsibility, and most don't require insurance IF you can prove you have the resources to accept the risk.

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[Satex]

So do you have insurance?

Yes. I think self insuring is generally a bad decision. I carry only liability insurance though, and I have considerably higher limits than legally required PLUS a $2 million umbrella policy.

I wasn't arguing what someone SHOULD do ... only what can be done legally.

 

[Raptor1996]

My raptor is 870 a year for full coverage 100/300/100 and a 1000 deductible.

 

[DIYPSCM]

$3616 '24 Lariat full coverage SF Bay area, clean record, multi-car + m/c +homeowners discounts.

It is what it is. People in Kalifornia are not in a mood to change insurance companies right now.

 

[Aemonn]

I just switched providers because they were raising my rates. Believe it or not, it was cheaper to separate auto and homeowner. Paying $1012 / yr for 250k/500k liability, 100k property, 500 deductible full coverage in New England. Clean record. Excellent credit score.

EDIT: This is on an auto policy with two other cars and only two drivers. I'm sure it would be more if it was a single vehicle policy.

 

[T-Rev]

Florida (no fault state) - $1217 every six months with Progressive. Just went down $100 from my last renewal which was a surprise perhaps due to the improved crash rating. I'm middle aged, excellent credit, clean record, no claims.

 

[AugPal]

Wife has a 2018 Ford Fiesta. She pays for insurance every 6 months. The insurance company has raised her rate 3 times over the last year and a half, even through the value of the car continues to drop as the car gets older.

She called the agent and he gave her the cost of repairs have doubled and that he had to pay $2000 for a window replacement. I know they have added things to some auto glass but $2K I find hard to believe.

 

[AugPal]

You need car insurance to register a car in MA. It's also against the law to drive without it.

They used to require proof of auto insurance in Illinois to get new expiration stickers. They don't ask for it now due to a new system that automatically checks if you have auto insurance.

 

[stormrider151]

68 yo, squeaky clean driving record, extensive drivers training, and drive less than 4k a year. $4600 year. But I do live in metro Atlanta which is like playing Russian roulette on the road.

 

[Massman]

I'm in W MA and pay $1638 for my Ranger Lariat with the 2.7 and full coverage. That's with the low mileage, over 65, and a clean record discount. That's more than I pay for my 2019 Bullitt. Location is everything. And in MA costs change dramatically from city to city.

 

[TwoTone]

Insurance companies are out of control. They are supposed to compete, but they aren't. They are playing follow the leader. If one raises prices everyone else follows

Well, they can't keep charging the same rate when the average cost of a vehicle is steady climbing.

While I'm not defending all their practices, it's also ridiculous what people expect from them.

 

[Strommen95]

Well, they can't keep charging the same rate when the average cost of a vehicle is steady climbing.

While I'm not defending all their practices, it's also ridiculous what people expect from them.

They also cut rates when the pandemic first started. That was a big mistake, as claims and accidents went up.

 

[AugPal]

Well, they can't keep charging the same rate when the average cost of a vehicle is steady climbing.

While I'm not defending all their practices, it's also ridiculous what people expect from them.

I understand what you're saying, but it bothers me that insurance for my wifes 2018 Ford Fiesta keeps going up even though the value of the car keeps declining. Years ago I remember insurance cost would drop the older your car got.

A rock hit the right side of my windshield on my 1998 Dodge truck. The insurance agent denied my claim. saying it wouldn't effect my view since the cracks were on the right hand side of the windshield. I paid for a new windshield.

Then I see the CEO of my insurance company skims $20 million off the top of what we pay in for his salary. You can bet the other executives under him are making millions. If just seems a bit excessive to me.

 

[TwoTone]

It's no different that what's going on in CA with homeowners.

I've read that CA basically controlled costs as the property value sky rocketed- that's why companies were leaving and why they had to create FAIR.

Californians are going to learn they hard why what price control

I understand what you're saying, but it bothers me that insurance for my wifes 2018 Ford Fiesta keeps going up even though the value of the car keeps declining. Years ago I remember insurance cost would drop the older your car got.

A rock hit the right side of my windshield on my 1998 Dodge truck. The insurance agent denied my claim. saying it wouldn't effect my view since the cracks were on the right hand side of the windshield. I paid for a new windshield.

Then I see the CEO of my insurance company skims $20 million off the top of what we pay in for his salary. You can bet the other executives under him are making millions. If just seems a bit excessive to me.

Just have to agree to disagree. I'm not one of those haters.
I don't think people at the head of huge companies should be paid pennies. Don't think 20 million for running a huge company is too much.

Now if you're a CEO and the company is doing poorly under your leadership, then you pay should reflect it.

 

[RANGER PRIDE]

my insurance went up approx $20 a month in the spring, from $121/month to $142/month with the 2019 Ranger.
Got the 2024 in Oct and it jumped to $218/month.

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