This is not a rant just a comment........ Renewed my coverage Friday 6 months for 605.00. But its just basic coverage with uninsured added and towing. Does this seem about
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08-07-2011, 08:03 PM | #1 (permalink) |
A True Z Fanatic
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comment about insurance rates
This is not a rant just a comment........
Renewed my coverage Friday 6 months for 605.00. But its just basic coverage with uninsured added and towing. Does this seem about right. And why do they run a credit check on you when its the law to carry insurance anyway. You have to make the payments or its a fine big time here. |
08-07-2011, 08:07 PM | #2 (permalink) |
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Join Date: Jul 2011
Location: Iowa
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Drives: 09 Nissan 370Z M6
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I pay about $380 every 6 months for comprehensive/collision with a 500 deductible. That's with a bunch of discounts applied for clean driving record and also a multiple-car discount. I'm under 25.
The credit check thing kind of sucks. I got a quote for insurance before buying my Z, then I got another quote after I bought it which was 8 bucks higher just because I applied for a couple auto loans. I did absolutely nothing wrong (and I have a great credit score) yet I have to pay more for insurance. The whole thing is pretty dumb.
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2009 Nissan 370Z Touring, w/sport, 6MT, chicane yellow/black. |
08-07-2011, 08:14 PM | #3 (permalink) | |
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Quote:
Algorithms have been developed determine lower credit ratings have an increase in accidents, thus a higher premium.
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08-07-2011, 11:07 PM | #6 (permalink) | |
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08-08-2011, 06:56 AM | #11 (permalink) |
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Location: Houston/Saint Augustine
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Ever notice the difference between insuring a teenage girl vs. a teen age boy? Age is also a big factor too.
Fair or not, insurance companies have gotten pretty good at estimating risks. One area they have never gone is race/income level. Don't think they don't have stats on that as well. I'm not saying it's right, I'm just saying they probably have stats for it. One of the advantages of being my age now (I'm 53 - yikes that's old!) is that the rates really doesn't change because of vehicle type. I carry a $1 million umbrella policy and the difference between a 2011 Z and my wife's 2007 MDX was $65 every six months. That's with State Farm in Houston. |
08-08-2011, 10:40 AM | #14 (permalink) |
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Location: Maryland
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location has a lot to do with your rate, so its hard to compare rates from people living in different states (even in different areas within the same state).
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08-08-2011, 10:47 AM | #15 (permalink) |
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Join Date: Jul 2011
Location: Iowa
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Drives: 09 Nissan 370Z M6
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Agreed - one of the perks of living in the midwest. Everything is cheaper here.
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2009 Nissan 370Z Touring, w/sport, 6MT, chicane yellow/black. |
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