Total Cost of Ownership -- Insurance?

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Jun 20, 2005
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southern california
I've been dragging my feet on purchasing a new SUV, at this point I'm still undecided if I should pull the trigger on a new LC. I have a good line on a 2005... a dealer jumped on my first offer of $500 over invoice.

But after inquiring with AAA on insurance cost.... well, I don't know what to think. I have an excellent driving record, I'm 49 years old and only drive 10K miles per year... 4 miles to work each way. I've been with AAA for 30 years.

Here's the quote ($100 deductable, $100K/$300K/$50K full coverage policy, good driver discount, etc.):

Land Cruiser only: $2,400 per year
LC + '91 Jeep Cherokee (primary): $2,200 per year

AAA tells me the reason is due to the "code" on the LC... insurance is higher than other SUVs because of replacement cost (I'm assuming due to low depreciation, high resale) and the amount of damage sustained to the other vehicle if I hit someone.

Maybe AAA's statistics are indicating I'm due for an accident? My vision is starting to wane, I can't judge the apex's like I did in my 20's.... I do sit on the pot more now that I'm approaching 50.

???
 
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Joined
May 10, 2004
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Morgantown, WV
 
 
 
time to find new insurance company. i pay $1600 per year for 2000 LC and 2004 Lexus RX 330, mine and my wife's primary drivers. $1000 deductible, 100/300/50 coverage. your quote sounds high to me. we are 34 and 35 years old, good driving records, driveing about 15k miles per year each.
 
Joined
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Emporia, KS
 
 
 
We paid around 800 a year for an '00 in central KS. Given the '05 price tag of $55+ it doesn't surprise me.

How bad do you want one?
 
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The Rock
 
 
 
There is no way for an intelligent discussion or comparison without knowing and identifying your state of residence.

Prices vary so much from state to state you cannot listen to what anybody else living in another state will tell you.
 
Joined
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Not only the state but the zip code. You're absolutely correct, and I realized that after leaving this post. FWIW, I added my location to my profile and I live in LA County.... on the fringe of North Orange County. The last time I compared insurance cost based on zip, I wasn't in a high risk area---but that may have changed since then.

Cruisin'Carolina said:
There is no way for an intelligent discussion or comparison without knowing and identifying your state of residence.

Prices vary so much from state to state you cannot listen to what anybody else living in another state will tell you.
 
Joined
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OZ
 
I know you cant compare apples with oranges but I hope our insurance doesn't get that out of hand. In OZ I pay $457 per year for $62000(I think) cover on a 2003 LC100, this includes 20 million third party property cover, and I have to pay the first $450 in the event of a claim, this can be reduced by paying more up front. I have a No.1 driver rating and live in a low/medium risk area I think.
 

Landpimp

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Gig Harbor WA
 
 
 
I pay $800 a year for my 2000 LC, 40 years old, perfect record, highly insured for busniess use(500k libiltiy). 250/500 deductible.

I also have 9 other cruisers, a boat, a house all with the same company, think my total yearly bill is around $5K for all my stuff.
 
Joined
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El Dorado Hills, CA
 
 
 
I live in NorCal and my annual bill is $3,000...I'm 37 w/ 1 ticket....that's for 250/500 liability on all 5 vehicles listed in my sig. Did you check 21st Century for a quote? I found they were pretty compettetive
 
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a990dna said:
Not only the state but the zip code. You're absolutely correct, and I realized that after leaving this post. FWIW, I added my location to my profile and I live in LA County.... on the fringe of North Orange County. The last time I compared insurance cost based on zip, I wasn't in a high risk area---but that may have changed since then.
Get some quotes from other reputable insurers before you decide. I grew up near where you live:) The LC sucks down the gas but it's real comfortable in traffic:D
 

ace10

Another one bites the dust!
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$100 deduct is an absolute killer. i'd suggest requoting with same insurer at $500 and $1000, then chase a couple of other quotes.

$0.02
 
Joined
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southern california
It's not a question of how bad I want one... more a question of economics and the desire to eventually replace my DD with a quality 4x4 (hard to find these days). The current insurance rate on my '91 Cherokee is $900 per year (same coverage). I only drive 4 miles to the office...

And when I travel I generally fly and/or rent a nice vehicle anyway....

I wasn't expecting to pay more than $1,500 per year.

But now that I think about it the insurance on my Jeep Cherokee was $1,200 in 1991.... I paid $24K for it back then. And that was after the insurance rate rollback due to State of California insurance reform act. I sold my Porsche right before the rates spiked in 1988-89...

Houses, cars and fuel have doubled since then.

I guess Alan Greenspan's inflation figures are way off...

Or maybe its the Southern California area... the demographics have changed considerably in the past ten years.



trainrech said:
We paid around 800 a year for an '00 in central KS. Given the '05 price tag of $55+ it doesn't surprise me.

How bad do you want one?
 
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Joined
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southern california
Familiar with the area? I grew up and still live in Whittier. The thing is I don't have to drive the freeway everyday to get to work... it's 10 min. down the street from my front door at home, to my office door at work...

I've been spoiled for 29 years. :)

calamaridog said:
Get some quotes from other reputable insurers before you decide. I grew up near where you live:) The LC sucks down the gas but it's real comfortable in traffic:D
 
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Gleneagle, CO
 
 
 
If you can afford a 2005 LC I can't imagine why you would want less than a $1000 deductible. As a rule it never makes sense to insure against losses that you could afford to cover.

That rate sounds pretty reasonable for LA to me. Lots of risk factors. Traffic density. High Crime. Port and close to Mexico. High value vehicle that is likely to still be worth something a couple of years down the road.

Anytime you change something related to insurance rates (like different vehicle) you need to re-shop since every company uses different criteria and actuarial calculations. Some even take your credit history into consideration.
 
Joined
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Turquoise Trail, N NM
 
 
 
That's kind of pricey for insurance. I had basically the same policy w/ Allstate in LA, but w/ $500 deductible. On a new (back in '01) honda prelude type SH (high performance version, bought it 'cause it was made in Japan and got around 28mpg w/ sports car performance, list was $27K, so half the price of a LC). My insurance on that vehicle was about $1100/yr. I lived in RPV in an apt at the time(so higher insurance than at a residence), was 34 yrs old, married w/ no kids, perfect driving record, 17 miles to work via PCH, all the discounts applied. I know on large SUV's, you will pay more for liability due to the additional damage they incur.
 
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macneill

Rollin’ on 33s
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Geico in New York City costs me around $1800 a year on a 2002. Same set up as the rest with a $500 deductible. Excellent driving record. Been with Geico for 13 years. Tried to get the 60 covered with them too, but they don't do Mass.
 
Joined
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southern california
I realize there's very little correlation with a LC, but I have my '65 Plymouth Hemi car insured for $50K (build cost in 1999) under a collector car policy. My premium is $500/yr with $1K deductable.... typical full coverage 100/300/50 and UI motorist type policy.

They know collector vehicles see very little daylight, but IMO all it takes is the big event to make a $50K claim.

I had it on my AAA policy for awhile. They were charging me $400/yr to just cover NADA values on a stock 2-door sedan w/slant 6.
 
Joined
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southern california
Reasonable? I guess if I lived in South Central LA or maybe East LA there is justification for high rates.

And my FICO is 775.

I believe it's unreasonable for someone that has zero (0) tickets and accidents.

I'm a little rusty, but I can still heel-n-toe and negotiate a Formula Ford around Laguna Seca with respectable lap times. I wish AAA would recognize my credentials for a "skilled" driver discount.

NMuzj100 said:
If you can afford a 2005 LC I can't imagine why you would want less than a $1000 deductible. As a rule it never makes sense to insure against losses that you could afford to cover.

That rate sounds pretty reasonable for LA to me. Lots of risk factors. Traffic density. High Crime. Port and close to Mexico. High value vehicle that is likely to still be worth something a couple of years down the road.

Anytime you change something related to insurance rates (like different vehicle) you need to re-shop since every company uses different criteria and actuarial calculations. Some even take your credit history into consideration.
 
Joined
Sep 24, 2005
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Chandler, AZ
I have $1000 deductible and the insurance for the Chandler AZ (Phoenix area... one of the highest insurance ares because of the auto theft) cost $845/yr on my 04' 100
 

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