That is an excellent rate for sure. You make it sound like insurance is cheaper in New Jersey than other places. I’ve never been to New Jersey, but I have also never imagined it as a place that would have lower insurance rates than others!
-
Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
New insurance bill increase 39%
- Thread starter Flyguy
- Start date
There are a lot of factors that go into insurance rates and geographic location is one of them. For example, my insurance company basically told me that Delaware has the highest insurance rates in the country due to the number of lousy drivers per capita.
iqless
Member
When I switched from a 85D to a P100D my premiums went from $60/mo to $100/mo. I thought that was ridiculous so I got quotes from other insurance companies. State Farm's offer was incredible: $600 A MONTH. I don't know what the hell they were smoking
I left State Farm in 2017 because of the ridiculous quote for two cars. I got a postcard recently saying the company had updated auto insurance rates. I asked for a quote and the monthly premium would be what I am paying for six months with my current insurance policy. Since it had been some time, I had lost their "loyalty discount". What a waste of everybody's time.
@tranzndance - who is your insurance carrier? I doubt if I can lower my insurance- at $400 for 6 months currently.
Progressive. $400 sounds reasonable for one Tesla. I have my Tesla and spouse's vehicle on the policy for around $700.
amallah
Member
We have Amica and even with a collision claim (icy parking lot - needed body work) my 2016 90D is $937/year for collision. I think that's pretty good and have been happy with Amica for many years.
OrbiterTI4
Member
My 2015 85D is currently $780 / 6 mo, with a $165 discount if paid in full, with Progressive. This is far and away the best rate I can CURRENTLY find, but I feel premiums are still over-inflated for companies to try and recover from all the Hurricane Harvey payouts in the area two years ago.
I just tried getting a quote through Ameriprise / Costco, but was denied coverage because the MSRP of my 2015 P85D was over $100k.
I thought maybe I put the info in the online quote generator wrong, so I called them and they verified that because MSRP was over $100k, they couldn't offer me a policy. They showed that the lowest base price was $105k so uninsurable.
Lame......
I thought maybe I put the info in the online quote generator wrong, so I called them and they verified that because MSRP was over $100k, they couldn't offer me a policy. They showed that the lowest base price was $105k so uninsurable.
Lame......
OrbiterTI4
Member
Same story for esurance when I tried to get a quote a year or two ago - I think they said they had an MSRP cap of $75k.
Insurance agency owner here, this is what goes into developing an auto rate quote:
vehicle year, make, model
address vehicle garaged (zip code)
coverages - which ones (there are many), coverage limits, and deductibles
discounts - multi car, multi line (depends on which lines), accident free (#yrs), alarm, vehicle safety, defensive driving course (not to get out of a ticket)
vehicle use - personal, business, annual mileage, commuting mileage
driver's loss history (what kind of losses, how many), violation history (recent), credit (certain characteristics)
You simply cannot compare your premium to the next guy's, it is comparing apples to oranges. Especially in different states, insurance is regulated at the state level so laws vary, which impacts losses (to the carrier), which impacts premiums. If you live in a rural area, in a state with reasonable laws, your premium will be half that of Chicago (where I live). I could go on and on...
vehicle year, make, model
address vehicle garaged (zip code)
coverages - which ones (there are many), coverage limits, and deductibles
discounts - multi car, multi line (depends on which lines), accident free (#yrs), alarm, vehicle safety, defensive driving course (not to get out of a ticket)
vehicle use - personal, business, annual mileage, commuting mileage
driver's loss history (what kind of losses, how many), violation history (recent), credit (certain characteristics)
You simply cannot compare your premium to the next guy's, it is comparing apples to oranges. Especially in different states, insurance is regulated at the state level so laws vary, which impacts losses (to the carrier), which impacts premiums. If you live in a rural area, in a state with reasonable laws, your premium will be half that of Chicago (where I live). I could go on and on...
