Insurance story
11-24-2010, 07:09 PM
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Insurance story
First of all, I know everyone hate paying insurance but the fact is, it's required by law. And this is how my story goes.
Since it's reaching sub-freezing degrees here, I decided to put my S2000 back into the storage and pulling my RDX out for the winter. Once I took my RDX home, I called the insurance and try to pay the insurance for my RDX, so that I'm not violating the law.
Suprisingly, my qoute went up $300 compare to the last insurance I paid. This really drive me crazy!
When I orded my 07 RDX, the new car salesman connected me with this insurance company and they're the lowest qoute I would ever get. They're asking $1800 for 6 months, while others like AAA, statefarm, country insurance qoute me at $3,000. So, I sticked with them for 3 years now. Price of the insurance decline every time I renew the bill(as the car depreciates). It was down to $1,200 last time I paid the bill. But today, the agency was asking me for $1500.
I told him, I have 0 accident record in my history, why is my bill going up? The agent said, "because your car was uninsured for 5 months."
I said"becuase the car was in the storage when I was driving my S2000(tried my best and I put 3k miles on her), what is the point of paying the insurance of a car that you don't drive?"
But sadly, after a while of talk with the agent, the price is the price. This is ridiculous! That's why I want to share my story and release my negative energy.
Did you guys, experiened these situation before?
Since it's reaching sub-freezing degrees here, I decided to put my S2000 back into the storage and pulling my RDX out for the winter. Once I took my RDX home, I called the insurance and try to pay the insurance for my RDX, so that I'm not violating the law.
Suprisingly, my qoute went up $300 compare to the last insurance I paid. This really drive me crazy!
When I orded my 07 RDX, the new car salesman connected me with this insurance company and they're the lowest qoute I would ever get. They're asking $1800 for 6 months, while others like AAA, statefarm, country insurance qoute me at $3,000. So, I sticked with them for 3 years now. Price of the insurance decline every time I renew the bill(as the car depreciates). It was down to $1,200 last time I paid the bill. But today, the agency was asking me for $1500.
I told him, I have 0 accident record in my history, why is my bill going up? The agent said, "because your car was uninsured for 5 months."
I said"becuase the car was in the storage when I was driving my S2000(tried my best and I put 3k miles on her), what is the point of paying the insurance of a car that you don't drive?"
But sadly, after a while of talk with the agent, the price is the price. This is ridiculous! That's why I want to share my story and release my negative energy.
Did you guys, experiened these situation before?
11-24-2010, 07:43 PM
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Based purely on what you've related, the $300 increase was your request to insure another vehicle. $300 is pretty cheap for 6 months, if you were paying $1200 for the S2000. They assume you can only drive one at a time, but the $300 covers the possibility that you have a claim on the parked car.
I'm not sure what transpired in your case. If you wanted to drop the insurance on your S2000 and cover your RDX, the increase could be due to an increase in average claims for an RDX vs. an S2000. If you simply wanted to add the RDX and still cover the S2000 in storage (Which is what I'd do), the additional $300 is simply due to the insurance company being on the hook for two cars instead of one.
It isn't unreasonable for the insurance ompany to see their risk has grown, since you could slide the RDX into the back of a car while driving home from work, and yet sometime later this winter a plow truck could accidentally bash through the garage door protecting your S2000 and take out it's front end, *possibly* putting them on the hook for a totalled car you weren't even driving. (Your homeowners should cover your car if parked in the garage, but if they are two different companies, thnigs *could* get sticky.)
I don't know if you have a homeowners and car insurance from the same company, but I've found that most companies that cover both home and car will actually save you money for covering both on the same policy, for the reason hinted at above.
I would say that dealing with an independent agent is far better than dealing with a single company agent, as they can advise you so you get the best deal for the coverage you need. They work with a lot of companies, and know the business in a way that an agent that works with one or two companies exclusively cannot.
I don't hate paying car insurance because more than the law, it's just a good idea. I hate that zip codes determine your cost more than anything else. When I lived with some friends just outside the city line, my rate was ~$150/mo., move to another zip code a few miles inside the city limits and it was $340./mo. I sucked it up, but it is the hidden cost of living in a "city." Rest assured, as you get older, your insurance steadily goes down, until it seems a sucker bet in your favor.
Independent agents are going to give you better rates than agents that handle one or two companies, like State Farm. They have access to numerous compaines, and know the differences between them. They also know "tricks" to get you lower rates, without skirting the law. Things like recommending homeowners to lower your rates, including your spouse and kids on the policy instead of insuring everyone individually, etc.
I do understand your "negative energy." Thanks for venting
I'm not sure what transpired in your case. If you wanted to drop the insurance on your S2000 and cover your RDX, the increase could be due to an increase in average claims for an RDX vs. an S2000. If you simply wanted to add the RDX and still cover the S2000 in storage (Which is what I'd do), the additional $300 is simply due to the insurance company being on the hook for two cars instead of one.
It isn't unreasonable for the insurance ompany to see their risk has grown, since you could slide the RDX into the back of a car while driving home from work, and yet sometime later this winter a plow truck could accidentally bash through the garage door protecting your S2000 and take out it's front end, *possibly* putting them on the hook for a totalled car you weren't even driving. (Your homeowners should cover your car if parked in the garage, but if they are two different companies, thnigs *could* get sticky.)
I don't know if you have a homeowners and car insurance from the same company, but I've found that most companies that cover both home and car will actually save you money for covering both on the same policy, for the reason hinted at above.
I would say that dealing with an independent agent is far better than dealing with a single company agent, as they can advise you so you get the best deal for the coverage you need. They work with a lot of companies, and know the business in a way that an agent that works with one or two companies exclusively cannot.
I don't hate paying car insurance because more than the law, it's just a good idea. I hate that zip codes determine your cost more than anything else. When I lived with some friends just outside the city line, my rate was ~$150/mo., move to another zip code a few miles inside the city limits and it was $340./mo. I sucked it up, but it is the hidden cost of living in a "city." Rest assured, as you get older, your insurance steadily goes down, until it seems a sucker bet in your favor.
Independent agents are going to give you better rates than agents that handle one or two companies, like State Farm. They have access to numerous compaines, and know the differences between them. They also know "tricks" to get you lower rates, without skirting the law. Things like recommending homeowners to lower your rates, including your spouse and kids on the policy instead of insuring everyone individually, etc.
I do understand your "negative energy." Thanks for venting
11-24-2010, 07:50 PM
#5
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It is common to get a lower rate if you have continuous coverage. I don't know if that is an actuarial decision or just business policy but I've seen it myself. I also cross-shop at least five others and negotiate with my existing insurance company every time their rates change. It is such a BS game because if I complain they suddenly find me a better rate.
11-25-2010, 06:41 AM
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lol that premium blows! I just renewed my insurance on my IS-F and 08 RDX, $570 for 6 months with 250/500 coverage. We use progressive. I have 3 speeding tickets and two expensive ($25k worth) comprehensive claims on record in the last 5 yrs.
Do you have horrendous credit and like 67 accidents in the last 3 weeks?
The reason the insurance companies charge more when a car hasn't been continuously insured is because something could have happened to it while uninsured - eg you could have run your snow blower into it and put a huge scrape and dent into the side - the insurance company has no way of knowing this, and once you add coverage you could claim it, but they never collected the premiums from you....it's like preexisting conditions for health insurance.
Your best bet is going to be to maintain your RDX/S2000 insurance but drop the coverage as low as it can go, raise your deductibles to $2500 (or whatever your company's max is), and drop the optional coverages. That way you can be "continuously insured" but not paying more than you have to.
Do you have horrendous credit and like 67 accidents in the last 3 weeks?
The reason the insurance companies charge more when a car hasn't been continuously insured is because something could have happened to it while uninsured - eg you could have run your snow blower into it and put a huge scrape and dent into the side - the insurance company has no way of knowing this, and once you add coverage you could claim it, but they never collected the premiums from you....it's like preexisting conditions for health insurance.
Your best bet is going to be to maintain your RDX/S2000 insurance but drop the coverage as low as it can go, raise your deductibles to $2500 (or whatever your company's max is), and drop the optional coverages. That way you can be "continuously insured" but not paying more than you have to.
11-25-2010, 07:00 AM
#7
I pay $590 / 6 months, with full coverage from State Farm in the Bay Area, CA.
How in the world are you getting quoted 3,000 w/o accidents? How many tickets do you have?
story is
How in the world are you getting quoted 3,000 w/o accidents? How many tickets do you have?
story is
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11-25-2010, 07:50 AM
#8
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I have stored my S twice through USAA. My monthly goes from 200+ to like 30. I have good credit, 0 tickets, 0 accidents. They attribute the high insurance costs to theft (seats, FL), and age.
Insurance does suck. I drive my Z a couple times a month and make the same corny joke every time.... "this is a 40 dollar ride"
Insurance does suck. I drive my Z a couple times a month and make the same corny joke every time.... "this is a 40 dollar ride"
11-25-2010, 08:37 AM
#9
It's all about where he lives. And he actually never game the time period it covered. If he lives in NJ or NY (and he definitely lives in the north, obviously), those rates are in line if he's young.
