topic Re: Auto Insurance!!! in Community Chat

Auto Insurance!!!

CherryHugs — Tue, 09 Mar 2021 14:20:43 GMT

I am with Grange insurance and vehicle is close to 20 years old with alot of miles on it.

Yet the cost per year is not cheap!

I have been trying to find insurance

for a better yearly cost, but when I search out companies there are always mixed reviews.

Even saw a worst list, and all of

the companies that are well known were on it!

What is the best way to find some good insurance without paying so much on an old car?

Re: Auto Insurance!!!

SeaMaiden — Tue, 09 Mar 2021 14:26:38 GMT

@CherryHugs wrote:
I am with Grange insurance and vehicle is close to 20 years old with alot of miles on it.

Yet the cost per year is not cheap!

I have been trying to find insurance
for a better yearly cost, but when I search out companies there are always mixed reviews.

Even saw a worst list, and all of
the companies that are well known were on it!

What is the best way to find some good insurance without paying so much on an old car?

@CherryHugs I drive a 21 year old van....DH drives a new car. His insurance rates are almost the same as I pay per year for my old van.

We each pay about $450 dollars every six months.

Newer cars are safer than old cars and that has a lot to do with what you pay

I only keep my old van because it only has 50,000 miles on it and I like that it is NOT TECHNICAL.

My husband enjoys the new technology and playing with it.

Re: Auto Insurance!!!

shaggygirl — Tue, 09 Mar 2021 14:28:11 GMT

I'd bet you're not paying as much as I am on a 16 yr old Acura. Like about $1,400 a year.

Although they do send me a check twice a year for about 30 bucks as a "payback" for having no claims.

Re: Auto Insurance!!!

Anonymous032819 — Tue, 09 Mar 2021 14:31:10 GMT

First, I would get just a basic, bare-bones policy on a car that old, with that many miles on it. You don't need a policy that has all the bells and whistles, for something so old. That will save you money right there.

Second, ask around. Ask friends and family who they have insurance with, and are they happy with them, and how much they pay.

I am with Progressive, and I am happy with them, and I pay $45/mo for my 2013 Toyota.

Re: Auto Insurance!!!

CherryHugs — Tue, 09 Mar 2021 14:31:28 GMT

@shaggygirl No nothing like that thankfully! We never get any money back ever.

Re: Auto Insurance!!!

kaydee50 — Tue, 09 Mar 2021 14:32:38 GMT

Do you still have collision insurance on your vehicle? If so, consider dropping it. A vehicle that old with a lot of miles on it is close to worthless so no point insuring it for damage.

Re: Auto Insurance!!!

ValuSkr — Tue, 09 Mar 2021 14:38:12 GMT

@kaydee50 wrote:
Do you still have collision insurance on your vehicle? If so, consider dropping it. A vehicle that old with a lot of miles on it is close to worthless so no point insuring it for damage.

That's a good point. At that age, the insurance company makes out by totalling your car rather than repairing the damage.

Re: Auto Insurance!!!

shaggygirl — Tue, 09 Mar 2021 14:38:39 GMT

@CherryHugs wrote:
@shaggygirl No nothing like that thankfully! We never get any money back ever.

@CherryHugs

And that's w/discounts for various things like low mileage, accident free, having my homeowners w/them and a few other things. Mine is due in June so think I'm going to take the advice someone gave you of giving up the collision which is now adding $245 to my cost.

Re: Auto Insurance!!!

eadu4 — Tue, 09 Mar 2021 14:40:58 GMT

@CherryHugs There are several car insurance comparison sites online to use. Insurify is one of the top-rated and most-rated car insurance quote comparison site in America. There is also nerdwallet and thezebra. Just go to the sites and walk through. It's one way to find out multiple quotes without having to call different agencies or relying on someone else's information which might not mirror your situation and therefore make your rates different from there's.

Re: Auto Insurance!!!

CAcableGirl2 — Tue, 09 Mar 2021 14:49:30 GMT

@CherryHugs

Also, check your deductible and if you are paying for the correct annual mileage. If it's low, you can save by increasing it and also save by adjusting the amount of miles that you drive.

I happen to be at my elderly parents home and when they got their bill for auto insurance, they were surprised that it went up about 20%, so I called and there was no reason given. When I went over their policy, they were paying for more miles then they were driving and had very low $250-$500 deductibles, plus "emergency roadside service", which was unneccessary since they have roadside assistance with AAA.

I had them adjust their miles down since they drive very little, and increase the deductible and was able to lower their rate to less then the previous bill.

Just be sure that you have the correct amount of coverage, but those are two options that may be able to be adjusted and lower your bill.

Also, if you have homeowners and auto insurance, if you bundle with the same company, you can usually save a lot of $.

It really pays to shop around, and I call every year when I get my bill - you can save a lot by making a few phone calls.

Re: Auto Insurance!!!

CAcableGirl2 — Tue, 09 Mar 2021 14:51:24 GMT

@shaggygirl You don't have to wait until the policy renews to adjust your coverage. If you call them today, and get rid of collision if you don't need it, they will prorate the amount between now and the renewal and either give you a credit or send you a refund for the difference.

Re: Auto Insurance!!!

catter70 — Tue, 09 Mar 2021 15:17:23 GMT

I recently took the collision off my 13 year old Ford Escape and saved a few hundred bucks.

Re: Auto Insurance!!!

millieshops — Tue, 09 Mar 2021 15:20:19 GMT

It's really not all that helpful to compare what people pay for car insurance unless you know they live in similarly rated areas and have similar insurance needs.

I do agree with all the posters who suggest collision coverage on a 21 year old car is most likely just adding profit to the insurance company.

I would never give advice to a stranger about what the rest of their insurance should cost because I would have no idea what liability coverage they need to carry. That involves knowing far more than the age and condition of the car being insured and should be a conversation with any agent/company giving you a quote.

Re: Auto Insurance!!!

mimomof4 — Tue, 09 Mar 2021 15:27:03 GMT

Insurance is largely based on where you live. In Michigan our auto insurance rates are ridiculus.

I would start by asking what type of coverage you have on a 20 year old car. If you are paying more in insurance yearly than what insurance would pay out - you need to reduce your coverage. Our oldest car is 16 years old and we have had PLPD on it for years after making the comparison of the yearly insurance cost vs KBB of the car.

Re: Auto Insurance!!!

sunshine45 — Tue, 09 Mar 2021 15:28:57 GMT

we have ERIE insurance and we are quite satisfied with their coverage and costs.

i think the best way to find insurance is to go through an insurance broker.....one who is able to check on a few companies for you rather than an agent who is just selling one company. that is how we changed from nationwide (which we had for YEARS) and switched and saved by going with ERIE.

also consider changing/raising your deductibles for an older car. it can help with cost also.

Re: Auto Insurance!!!

CelticCrafter — Tue, 09 Mar 2021 15:39:19 GMT

For a car that old you don't need comprehensive or collision so basically just liability and property damage and whatever your state requires you to carry.

If that's the case you really don't need a stellar review when it comes to claims service.

Re: Auto Insurance!!!

shaggygirl — Tue, 09 Mar 2021 15:40:55 GMT

@CAcableGirl2 wrote:
@shaggygirl You don't have to wait until the policy renews to adjust your coverage. If you call them today, and get rid of collision if you don't need it, they will prorate the amount between now and the renewal and either give you a credit or send you a refund for the difference.

@CAcableGirl2

Ya know what? First I I did some blue booking then I made a phone call.....I have cancelled the collision! THANK YOU for that info. I thought I would have to wait till my June renewal to make any changes. The fact is if I had damage to my car in an accident I'd buy myself a new or used one because mine is such a gas guzzler anyway .....although I do love my MDX.

Re: Auto Insurance!!!

Still Raining — Tue, 09 Mar 2021 17:22:57 GMT

Might to have a chat with your agent.

If you have separate umbrella, you can lower the liability down to the state minimum.

If the medical includes you, check to see if duplicates your health insurance.

And of course, perhaps collision is not longer needed.

Re: Auto Insurance!!!

hckynut — Tue, 09 Mar 2021 17:52:44 GMT

@CherryHugs

Older cars, assuming you are talking about liability insurance, can be higher than many, if not most, newer or new vehicles. I personally don't know why anyone would have collision or comprehensive insurance on a 20 year old vehicle.

I know our liability is cheaper because of the built-in safety features of our vehicles. The newer the vehicles, the more standard or optional safety features are available.

While it doesn't sound like the real old liability insurance policies, which were pretty much based on the age of the driver/their marital status, and their driving record. The safety features lessen the chances of severe injuries for others.

Not sure why you think insurance should be based on the age of a vehicle, other than maybe the State/County/City taxes on it, which generally go down with the age/value of the vehicle.As I said, the age of a vehicle, is primarily tied to collision and comprehensive insurance, not liability.

One of our vehicles is a 2004 and the other is a 2010, and carry and pay for, only liability insurance. For us $500 deductible is our choice.

hckynut

Re: Auto Insurance!!!

patbz — Tue, 09 Mar 2021 18:00:56 GMT

@mimomof4 : You are so right that where you live greatly affects the cost of your car insurance. I remember that when I lived in Ridgecrest CA ( small city in Mojave desert) that our insurance rates were incredibly high. The reason was if we went " down below" (to LA) we had to go via Highway 14, one of the most dangerous highways in the country; everyone I knew, knew of several people who had been involved in fatal high speed accidents (2 lanes, almost no passing lanes, lots of hills, isolated areas) going between LA and Mammoth, onto Reno.