wusty23jd

To start things off, I live in Michigan, where people get hosed in automobile insurance. I think Michigan arguably has some of the highest insurance rates in the nation. With preliminary elections right around the corner, I know automobile insurance rates have become a big topic of conversation.

I am just annoyed, so I have to take a moment and vent. I just paid $420 for 6 months of full-coverage automobile insurance on my 2005 Acura TL. I have a 100% clean driving record (no accidents, no tickets, nothing...) I have never filed an insurance claim nor called my agent for a mere towing. I also just paid $509 for 6 months of full-coverage automobile insurance on my wife's 2007 Acura RDX. She also has a 100% clean driving record. We have three cars insured through State Farm and also our home owner's insurance is included as part of a bundled package. I have shopped around a few times and I think the cheapest full-coverage option available maybe saved us $50-60 annually, so it wasn't worth the hassle of switching everything over in our opinion. We know our agent on a personal level and she has been great for us. These rates are just crazy steep.

I know there are a billion factors that cause rates to change b/w drivers, vehicle types, location, etc. I'm not looking to argue (because I'll sound ignorant I'm sure). I'm rather just expressing how annoyed I am. That was a big hit to the 'ole wallet this morning.

I guess you have to pay to play? Oh well, vent session over...

horseshoez

iTrader: (2)

I lived in Michigan decades ago when the whole "No-Fault" concept was sold to the public as a way of lowering insurance rates. No-Fault happened, lower rates didn't, not by a long shot.

truonghthe

$420 per 6 months and you crying? wanna switch with mine

losiglow

iTrader: (1)

Ouch. That's a lot more than I pay for my 4G TL and wife's 2G Pilot. And we both have a less-than-stellar driving record.

I'm sure location has a lot to do with it but how's your credit? And how old are you and your wife? What's your occupation? Do you have some funky driving profile like 40K miles a year for work or something like that? Those factors have an impact as well.

Jackass

I know where I live, I wouldn't be upset at all for prices you are quoting...so unless your coverage requirements are drastically different that those in MO, I am not sure what you are upset about? Ignoring the fact that I live in a different state, my rates are higher than that, although I don't carry the basic state mandated coverage. I'm not even sure I could get that cheap even if I went down to the bare minimum state mandated coverage here. To note, the MO mandated minimum coverage amounts are a f'ing joke here. $10k property damage...haha...a parking lot incident can cost more than that.

I do agree that the costs are just stupid overall. My rates do keep going up year after year. I am about to go shopping again for the house and the car because of rate creep. They don't jump, but they have done a $10-30 increase every 6 months which adds up. Just the same as you, no claims (pretty sure last auto claim was in 2003 and that was the previous insurance company), no nothing, just gradual rate increases. I need to rate shop the house and car against USAA. Their service is top notch, and auto rates are usually pretty competitive. I just stayed away because their home rates were historically higher.

The insurance threads pop up from time to time...and for the most part we all know it is pointless when not talking to people who live in the same city and probably same zip code. For what its worth, I have a clean driving record, no claims in the past 15 years, married, kids, well over 30, excellent credit, live in the burbs, home/auto/life bundles, and car is flagged as recreational since I work from home so no commute.

wusty23jd

Yeah, I'm just blowing off some steam, because it seems like a lot for two cars that are over 10 years old with two clean driving records. I'll get over it by the end of the day I'm sure.

Michigan's adopted position of being a "no-fault insurance" state is definitely an interesting one. There are definitely pros and cons, which we could debate all day long.

For reference, we bought the RDX last fall and paid around $420 for 6 months of coverage. Two six month intervals later and it's up to $510? That seems like a drastic increase in my opinion and calls for question. I called and my agent was informed that Michigan rates and claims have gone through the roof lately. She even suggested getting other quotes, but most of the bigger competitors are all in the same ballpark, unfortunately. I haven't looked into USAA though Jackass. We own a condo, so our homeowner's insurance is extremely low,.It might be advantageous to explore

My wife and I are both 26, live in the suburbs, and have a credit score just north of 800 (as of February 2017 when we bought our condo. I haven't checked it since). She is a second-year eye doctor and I am a CPA, who both regularly commute to work each day (10 miles for her, 12 miles for me) . We don't have any children yet, but she's getting baby fever. .

TacoBello

TheSauceBoss

Wow, I know people that have gotten DUI's and their insurance is lower than that.... I've got one ticket on my driving record, and my insurance is only $160 for 6 months......liability insurance for the win lol

jaydubz

I pay 120$ a month, full coverage in Chicago. Clean everything, no tickets, no accidents, no nothing. Be happy what your paying is cheap.

Jackass

You are seeing roughly the same increases I have been seeing on my side as well. I know my last renewal this summer jumped $25 from last winter's renewal. I am pretty sure over the past 3 years, my bi-annual bill has crept up a total of about $80-100. This is just for my '05 TL. My wife's car is under USAA. I have refused to leave Country Companies and she has refused to leave USAA....so have two different policy sets for our cars. If you do qualify for USAA (you or parents having served)....for sure give them a look.

Not sure if you will see much discount when you reach 30 either. I know a single male under 30 generally gets higher rates...but marriage and/or kids usually helps to knock it down a bit depending on the company doing the risk ratings. I didn't get married nor have kids till I was over 30, so they pillaged my bank account for longer than I would have liked.

I wish I could consider liability...but I can't bring myself to it. Even when I still had my beater commuter car, I carried more than liability on it through the winter months. Much easier pill to swallow when I know I will be out of pocket $500 if anything at all happens to my car vs being out several thousand if something were to happen to it. As long as the one year of insurance costs drastically less than replacing the car, I will probably always carry additional coverage. My old beater (99 Z-24) only shifted my insurance about $30 per month between liability vs full coverage so it wasn't a huge cost savings.

wusty23jd

This made me laugh out loud.

I feel the same way. It would be hard for me to not feel paranoid 24/7. Insurance does suck, but you honestly never know when you will need it unfortunately. Especially when it comes to bodily injury coverage.... Lord-willing this won't ever come into play.

Jackass

About 10 years ago, my wife's car (2002 Grand Am) was only worth maybe $3k...on a good day...and we had considered dropping to liability only. She got rear ended by an uninsured driver coming home from work. If we had only had liability, it would have been at a minimum $3k loss for us, but more likely closer to $5k to get a vehicle in as good of condition that car was in. Instead it cost us $500 to pay our deductible and let USAA deal with fixing it and going after the uninsured party and we got a rental car for 2 weeks out of it all. Luckily she wasn't injured at all, but the other two vehicles, all of those passengers left in ambulances. Also keep in mind that in this situation, if she had gone to the hospital, her auto insurance would have covered those costs. Her medical coverage at the time was near non-existent since we were not married yet....she only had major medical coverage. Of course times are slightly different these days with the medical insurance requirements have shifted...but still even today, our medical deductible is over $7k so having the extra medical coverage on the auto can come in quite handy. We have been very blessed over the year to have never required the medical coverage on our auto policies...and hope we never do.

All a matter of balance on risk vs cost....exactly what insurance is for.

Acura TL Builder

frankjnjr

$420 Full coverage for 6 mos!!! I live in Baltimore, no accidents, no tickets, no claims = $1092 6 mos., full coverage on an 03 TLS!

08KBP_VA

Let me start out by saying im overinsured and know it so a comparison with my rates is pointless. My question is you say you shopped around, how? I did the same and thought I was in the best position, I was so wrong. I enlisted my agent who went to work for me and not only got me better coverage for way better rates she cut my policy more than in half yearly. So my suggestion is if you didnt enlist an agent in your search dont give up on your options to lower your cost. If you did then I guess your SOL for now. Sorry

wusty23jd

That's a valid point to bring up. My State Farm agent is not an enlisted agent who "shops around." However, my aunt is. She works for an independent insurance agency and I had her search for other comparables on our behalf.

08KBP_VA

Thats key make sure they are not captive agents. Good luck

1995hoo

"Full coverage" is a meaningless phrase because you could carry the bare-bones utterly inadequate state-mandated minimum yet still be able to say you have "full coverage."

horseshoez

iTrader: (2)

I would argue the term "full coverage" only applies to coverage for your vehicle if you are at fault in an accident. As a general rule, state-mandated minimums are only for "liability" insurance and are not, in any way, shape, or form considered "full coverage".

Jackass

Also note, that coverage options in general can vary from state to state....so yes, trying to actually compare "full coverage" is completely pointless here. My coverage limits are probably different than yours. Some states mandate and/or permit $0 deductible glass coverage...most don't. Comprehensive, Collision, Liability, Medical, Tow, Under-insured, Un-insured, glass, replacement/gap, rental coverage, deductibles, coverage limits.....and many other variables come into "full coverage" talks depending on the insurer and the state your policy is written in.

jon.mar27