Insurance Premium

[txtortoise]

Yeah I'm not trying to debate the merits or reasons as I can come up with other reasons why the insurance companies may do this, just noting that evidently zip codes right next to each other can have significantly different premiums, so the earlier comment about comparing premiums by staying in the same state or city doesn't necessarily apply, or even necessarily yield similar results.

Yup, zip code level, credit score and tons of other rating factors all play into this, but since insurance is regulated at the state level, it helps to start there with urban vs country being the big differentiators...that and your driving record and the likelihood of hail storms.

 

[LBridges]

Yup, zip code level, credit score and tons of other rating factors all play into this, but since insurance is regulated at the state level, it helps to start there with urban vs country being the big differentiators...that and your driving record and the likelihood of hail storms.

I found that when I moved from the Washington DC area to the east central coast of Florida my insurance went up by about 30%. And I moved to a county wherein the TOTAL population is around 300K (only a little more than just Arlington, VA). So it isn't really urban vice country. I was told the change for me was going from a place (NOVA) with most folks having insurance to a place where many did not.

BTW, read on a web site that insurance companies make as sort of actuarial projection of how likely you are to stick around even if they raise the rates. I jumped ship today (after reading this thread) and saved $1200 a year -- should have done it long ago.

 

[cru1s3r]

Regarding LC insurance - I'm with USAA, and replaced my 911S with a LC a couple months ago. I was hit with a $117.59 increase every 6 months ($19.60/Mo.) for the same coverage, same drivers, same garage and same mileage! I would have thought the rate would have gone down...

 

[TonyP]

I went to geico. Paying about 490/6mo for three BMWs on basic coverage and the LC on full.

 

[sPaulp]

I went to geico. Paying about 490/6mo for three BMWs on basic coverage and the LC on full.

I just switched to Geico as well after being with State Farm for well over a decade. $570 for 6 months with $100 deductibles on both my LC and LX. They literally blew SF out of the water and can't believe I didn't switch sooner. Oh, for what it's worth, if you pay $29.95 and take the defense driving course that is listed Geico's website, it takes an additional 10% off your policy. It's about 6 hours long, but is good for 3 years and the savings on the first 6 month policy more than pays for itself.

 

[TonyP]

I just switched to Geico as well after being with State Farm for well over a decade. $570 for 6 months with $100 deductibles on both my LC and LX. They literally blew SF out of the water and can't believe I didn't switch sooner. Oh, for what it's worth, if you pay $29.95 and take the defense driving course that is listed Geico's website, it takes an additional 10% off your policy. It's about 6 hours long, but is good for 3 years and the savings on the first 6 month policy more than pays for itself.

It might depend on the state. I just looked it up and the eligibility requirements for Utah are

• You must be at least 50 years of age
• You have not been convicted of a traffic violation
• You have completed the course on a voluntary basis (not as a result of an order of a court or other governmental entity)

Though I feel much older than 50 with my geriatric back pain, not actually that age yet.

 

[LALC]

Wow, just priced through Geico based on reports in this thread and along with my wife's car they quoted me literally one half of what State Farm is charging. Crazy, I switched immediately. I did shop around, Geico was the third one I shopped at, others weren't even close.

 

[sPaulp]

Wow, just priced through Geico based on reports in this thread and along with my wife's car they quoted me literally one half of what State Farm is charging. Crazy, I switched immediately. I did shop around, Geico was the third one I shopped at, others weren't even close.

Same things happened to me last week. Also, Geico has one of the top customer service ratings on the market and really support veterans like myself. I look at USAA but Geico even blew them out of the water. I am very impressed so far. State Farm was a complete ripoff.