Insurance Rate Has Never Dropped

Red__Zed · 03-27-2013, 11:08 AM

you are lucky if your rate has stayed the same. most companies have been adjusting the rate upwards over the last couple of years.

You can always call and ask, but chances are good there's not much room for downward movement (unless you are already really overpaying)

scottIN · 03-27-2013, 11:11 AM

Most of what you're paying for insurance isn't about the value of the car - it's the liability. Look at the value of your car compared to the amount of liability coverage you have (both medical and property damage) and you'll see. It's probably a 20 to 1 ratio.

dinfire · 03-27-2013, 11:16 AM

I live in LA and pay $120 per month for full coverage. The car is in a garage both at home and at work. It rarely, if ever, even sits on the street where it can be touched. Stands to reason that as the value of the car plummets (can't believe how much its value has faded despite only 19K miles) the insurance should come down. After all, if it's totaled, State Farm will have to pay A LOT less. But from the sounds of it, everyone is dealing with the same thing, so I guess I just have to deal with it.

theDreamer · 03-27-2013, 12:55 PM

Quote:

Originally Posted by dinfire

I live in LA and pay $120 per month for full coverage. The car is in a garage both at home and at work. It rarely, if ever, even sits on the street where it can be touched. Stands to reason that as the value of the car plummets (can't believe how much its value has faded despite only 19K miles) the insurance should come down. After all, if it's totaled, State Farm will have to pay A LOT less. But from the sounds of it, everyone is dealing with the same thing, so I guess I just have to deal with it.

Value of the car is not really going to alter it that much.
Especially if the insurance company is adjusting their rates up slightly you are basically seeing the offset which comes out to 0 change.

BeemaaZ · 03-27-2013, 02:22 PM

Quote:

Originally Posted by dinfire

I bought a 2009 370Z brand new four years ago, and I just realized that my insurance rate has NEVER dropped the entire time. My last new car, by year three, the rate was 40 percent less than when I bought it. I have only put 19K miles on this car in four years. I currently use State Farm. Has anyone else experienced this with their 370Z? Should I call State Farm and ask for a better rate or go to another insurance company?

Tell your agent/agent staff that you want to participate in the Drive Safe & Save Program. It means you need to report your odometer reading twice a year before your next policy renewal. The less you drive the more you save. You can also save by increasing your Comprehensive & Collision Deductibles.

Quote:

Originally Posted by dinfire

I live in LA and pay $120 per month for full coverage. The car is in a garage both at home and at work. It rarely, if ever, even sits on the street where it can be touched. Stands to reason that as the value of the car plummets (can't believe how much its value has faded despite only 19K miles) the insurance should come down. After all, if it's totaled, State Farm will have to pay A LOT less. But from the sounds of it, everyone is dealing with the same thing, so I guess I just have to deal with it.

Los Angeles has one of the highest insurance premium in California. Your premium is based on where your car is parked every night. If you have another car (a beater or DD) tell your agent to rate you on that car. That will make your 370Z as an extra car (much lower premium). When your car gets totaled (and assuming your were the at-fault party), State Farm will be paying for your car and for the other party as well. Not to mention if there is bodily injury claim or lawsuit.

03-27-2013, 11:08 AM	#1 (permalink)
Red__Zed A True Z Fanatic Join Date: Jul 2010 Location: window seat Posts: 28,940 Drives: Mostly on two wheels Rep Power: 121	you are lucky if your rate has stayed the same. most companies have been adjusting the rate upwards over the last couple of years. You can always call and ask, but chances are good there's not much room for downward movement (unless you are already really overpaying) UNKNOWN_370 likes this.

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03-27-2013, 11:11 AM	#2 (permalink)
scottIN Track Member Join Date: Aug 2011 Location: New Castle, Indiana Posts: 764 Drives: '12 370Z Rep Power: 56	Most of what you're paying for insurance isn't about the value of the car - it's the liability. Look at the value of your car compared to the amount of liability coverage you have (both medical and property damage) and you'll see. It's probably a 20 to 1 ratio.

03-27-2013, 11:16 AM	#3 (permalink)
dinfire Base Member Join Date: Sep 2009 Location: Los Angeles Posts: 28 Drives: 370Z Touring/Sport Rep Power: 17	I live in LA and pay $120 per month for full coverage. The car is in a garage both at home and at work. It rarely, if ever, even sits on the street where it can be touched. Stands to reason that as the value of the car plummets (can't believe how much its value has faded despite only 19K miles) the insurance should come down. After all, if it's totaled, State Farm will have to pay A LOT less. But from the sounds of it, everyone is dealing with the same thing, so I guess I just have to deal with it.